Dont Score An Own Goal

DON’T SCORE AN OWN GOAL

50 years since England famously won the World Cup, and on the eve of the European Championships it seems appropriate to warn about own goals.

In the property world an own goal could be considered seriously over valuing your home.

The result is no-one views and you end up marooned on a desolate island.  The technology at the disposal of estate agents allows us to micro analyse activity and determine when the interest generates, that it meets industry standards for those all-important sales.  With a record number of buyers, there is something seriously wrong when a property doesn’t attract potential buyers to view and frequently this is a price issue.

After selling properties for over 35 years and through all market conditions I am seeing a familiar pattern. Overvaluing will kill critical interest. Should a prospective buyer appear on the scene, they’ll recoil at the professional valuers report who works on comparable data.  Better to start off with a grounded and proven valuation which a good estate agent will support with accurate research.

If you want to test the market and are not under pressure then you’re within the realms of reason. Maybe ask an extra 5% or up to 10% for a unique property.  Should that not produce the offers then you can adjust your price without losing too much credibility.