Listen to your agent?

BOARD STUPID

My estate agent wants me to put a ‘for sale’ board up outside my house, but I’m not keen. Are they really any use these days with the internet being so prominent?

You’re certainly not the first person to reject an estate agent’s board and you won’t be the last. Sometimes people just don’t want a board outside their house advertising to all and sundry that they’re selling - and that’s understandable. Especially if you don’t want your neighbours finding out and talking about it down at the local cafe. But that said, I would always recommend a board. Yes, the internet is a great source of buyers and it tends to attract an enormous amount of traffic. It is likely that your buyer will come from a lead that was generated online at some point but in order to achieve the maximum price for your property you’ll really need to be open to every angle of exposure to generate as much interest as possible. The fact is that serious buyers tend to be the ones who are out and about in the area looking at the roads they’d like to live on, and with a board up they can immediately get on the phone to the agent. A buyer enquiring in this way is often more reliable than one who has been browsing online in the comfort of their home and we’ve certainly sold houses from leads generated soley from a board.

So in short, yes, put a board up if you can bear it. It shows to prospective buyers that you’re serious about selling and why run the risk of missing out by not having one?

HOW MUCH?

Should I go for the highest valuation?

The temptation to use the agent that values your property the highest is as intoxicating as the temptation for agents to overvalue it in the first place. The price you market your property at is incredibly important. Firstly it’s important to understand that the cost of an incorrect valuation is significant. Too high and your property will be dismissed as ‘overpriced’, and generate little interest. The property will linger on the open market and the result will be a property that appears un-wanted. The inevitable will play out, the price will reduce and then you have the age-old situation of a cut price sale. ‘Look honey there’s that over-priced property, it’s come down in price - looks like they can’t sell it’. The fact is it’s human nature to want what others want, not that which appears unwanted.

If on the other hand the price is correct ‘at market value’ so to speak, or even, below market value, the result will be very different. If your agent is doing their job right the viewings will be plentiful, the interest will reach fever pitch and buyers will be well aware that they’re time to bid is running out. Do not underestimate the positive effect this has on potential buyers nor how well your buyers will know their own market. So in answer to your question, grill your agent, question them and quiz them about the market, ask them to produce comparables for their price until their opinion can be trusted, and then take it. Only this way will you get the top price.