We have previously spoken about buying prices and how to buy at the right price.
We also spoke about overpaying for a property – yes it really does happen.
What I would like to talk about today is making sure you don’t over price when selling.
One of the major jobs of an estate agent is to give buyers and sellers advice.
They give advice that is good for the buyer or seller rather than what they would like to hear.
Far too often, estate agents will inflate the price just to be able to get a listing.
Sales agents are by nature competitive people and they are always looking to sell the most, sell the highest priced property or sell more homes than somebody else.
But when you are selling your property that is the last thing that you want.
What you need from your selling agent is good sensible solid advice on selling your home.
Many agents want a sole mandate at any cost and will talk a hole in your head to limit the people that can market your home.
The best time to make a profit on your home is when you buy.
Yes, that’s right.
If you buy at the right price you are always ahead of the game.
Do your research before you buy.
Ask your agent for a report on the price of properties where you want to buy.
While houses in an area may differ in size, condition and position, those differences must be taken into account in your pricing.
Blocks of flats tend to be very similar and you can, to a great extent, work on a price per square metre.
Even here the price will reflect cleanliness, upgradings, height level, allocated parking and the like but you will usually find that the range is relatively small.
It is better to pay a little more for a clean modernised flat that a dirty flat with old fittings.
When selling you will see that clean well-maintained flats definitely sell at a higher price and probably much faster than their unattractive counterparts.
- Mike Spencer is the founder and owner of Platinum Global. He is also a professional associated property valuer and consultant with work across the country as well as Eastern Europe and Australia.