Understanding what a house price is

All too often, sellers can become confused by what the selling price of their property should be. However, in practice, it is quite a simple concept. Most estate agents in London should be able to advise their vendors on the details. Still mistakes can happen though, so it is good to remember a few points.

Setting a price is not a science: There are many contributory factors. This includes the estate agents nous and instinct, as well as the local conditions, and recent history. There are tools online that can help but, in the end, it is little more than an educated guess.

The sellers value is not the selling value: Understandably, people invest a lot in their homes, financially and sentimentally. These essentially count for nothing when selling though. How much is needed for the vendors own move, is also similarly unimportant when setting an asking price.

The perils of overvaluing

Overvaluing is pointless: It is all too easy for an agent to give an inflated valuation of a property, simply to get the deal. Too high a price though will simply put people off. Quite apart from securing more profit, it could cost money in delays and longevity of listing.

Listen to feedback: Even if the price set is right, and the agents have done everything expected of them, offers can still be lacking. If this is the case, it is time to understand what is being said by viewers of the property. If a significant number have said it is overpriced – it is overpriced.

Working with a good and well experienced agent is important, both for setting the price and responding to circumstances. To make sure yours is up to the task, our estate agent reviews at www.meetmyagent.co.uk can help. Left by previous sellers, and landlords, the independent advice offered can be invaluable.

For more information please visit – www.meetmyagent.co.uk

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