If you’re thinking of selling your home or investment property, the starting point for most people is to get an idea of what price it would be likely to sell for on the open market. Whilst online tools and research can give you a rough indication, the best bet is to arrange a valuation or pre-sale appraisal by a local, expert estate agent. So, how can you prepare for this visit and maximise the likely valuation and selling price of your property this summer?
Give Your Home Some TLC
An estate agent’s valuation is different to a Chartered Surveyor’s survey of the property. Whilst the surveyor will be more interested in bricks and mortar, the estate agent’s Valuer will be looking at the property through a buyer’s eyes and assessing what a buyer is likely to pay for your home or investment property. Ensuring that your property is prepared to appeal to a buyer, therefore, will maximise the valuation that your estate agent places on the property.
First, give your property a good, old-fashioned spring clean. Tidy your home as if you were preparing it for photographs before putting it onto the market. Getting rid of any unwanted clutter allows the estate agent to see the full extent of the property without any distractions and to picture it like a potential buyer will see it.
Second, remember not just to focus on just the interior. If you have a garden or even a communal hallway in a block of flats, focus on the first impression that the estate agent will get when they arrive at your property. A well-tended garden or communal stair creates the impression that the house or flat has been well looked-after and maintained.
If you are selling a rental property, this can be a bit more difficult to achieve. Depending on your relationship with your tenants, however, there are a couple of options. It may be possible to offer an incentive to your tenants to present the property as well as possible by offering a reduction in the rent whilst you are marketing the property for sale. Alternatively, if you really want to put your best foot forward, you can market your home for sale after your tenants have vacated. This allows you to give the property a lick of paint and ‘stage’ the property like a home rather than an investment property. Obviously, the loss of rental income has to be weighed-up against the likely uplift that you will achieve in the selling price by presenting the property when it is looking its best.
Before the estate agent visits your property, take the time to do a little bit of investigative work. The main property ‘portals’ such as Rightmove, Zoopla and ESPC have excellent tools for allowing you to see historical sale prices. This will give you an idea of what to expect and, if the estate agent’s valuation is way over, or way under, what you expect then you can question why this is.
We’d advise that you get a valuation from more than one estate agent. It’s unscrupulous, but some estate agents will attempt to turn a potential seller’s head with over-inflated claims of what the property is worth, hoping that this will sway the seller into choosing to sell with them. Choose an agent whom you trust: someone who is active in the local market, provides good value for money and who can justify the valuation that they have provided you with.
At MOV8, we will send you an indicative Quote for selling your property, along with information about our selling services, in advance of the valuation visit. This gives you a headstart in being able to prepare any questions about the selling process, as well as the valuation and the costs involved in selling, before our Valuer visits your home. Take advantage of this and grill them about what they will do to get you the best price and to deliver the best value when selling your home or investment. We’re confident that they will have the answers!
Battling through heavy traffic to visit property sellers in their homes can be thirsty work, so offer your Valuer a glass or water or a cup of tea. It won’t make your property valuation any higher, but they’ll be very grateful!
If you are thinking of selling your home or investment property in 2017, please do get in touch with us by calling 0131 202 5444 (Option 1) or by emailing [email protected] to organise a free valuation of your home or to get a full, transparent breakdown of the costs of selling your home.
Our expert Valuation Department can help you with suggestions to maximise the appeal of your home to buyers and get the best possible price if you are selling, can discuss selling before you buy, or help with any other property sale related questions you might have.
For more tips about preparing for a property valuation, you can also check out our YouTube video, Getting the Best Possible Property Valuation.