I say when selling, because there’s a big difference between a valuation meeting when selling and a property valuation when not. Parts of the processes are the same, but the real question you want to know is very different.
Mortgage valuation = What do the bank think the property is worth?
Sales valuation = What does an estate agent think my home is worth?
Mortgage valuations are simple, you’ve got one opinion from one person. They do their research, Bob’s your Uncle….
Sales valuations are MASSIVELY different and for several key reasons:
1: You can get lots of different opinions from lots of different people.
2: It’s impossible to prove or disprove until a later date.
3. The agent wants you to use their services to sell. The valuation meeting is part service, part sales. You’ll get a differing ration of helpful advice and sales pitch depending on who you’re speaking to.
So with a sales valuation being a lot more complex a process to navigate, how do you go about making sure you do it amazingly well?
First point is to ask the right question. It’s not what, but how, why and who that are the key questions.
- How are you going to sell my home for the highest price possible? (show me a plan)
- Why are you going to do it that way? (show me a good plan with reasoning)
- Who are you going to target selling it to? (show me why this plan works)
If you ask these three questions of anyone giving a sales valuation, rather than what they think the home is worth, you will get to a far better understanding as to where you stand.
The man down the pub can tell you a price. The lady in the news agents. In fact, everybody will tell you a price. Ultimately, the skill is in selling the property for the highest price possible. Finding that ideal buyer, that person that values the home higher than any other and is ready to buy now.
You’d never sell with an agent that told you the highest price but had the worst process now, would you?
Any questions please do ask. If you’d like to check out a video that shows you how to most accurately value your own home, you can check that out by clicking here.