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Importance of getting an accurate and unbiased property valuation

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The sale of a property is a massive financial decision for most people as it involves transactions of significant amounts. Regardless of whether you are upsizing, downsizing or looking to liquidate for reinvestment, deciding the right asking price can get you offers from several interested buyers. The interest shown in your property will allow you to negotiate confidently and get the best sale price for your home So, how do you determine the right value for your property?”

We need to consider several factors when evaluating a property’s correct worth. Many agents try to keep customers happy by telling them what they want to hear and listing properties at an inflated price, only to revise and lower the asking price after the listing fails to generate sufficient interest in the market. This approach often proves counter-productive as buyers can easily find out how long a property has been on the market and the price revisions in that duration. This may encourage potential buyers to negotiate for further contraction in the selling price.

Understanding the market sentiment and thorough research

Property valuation

While there is plenty of data available online on average property values for different neighbourhoods and price per square-foot details, fixing the right price entails much more than just a preliminary scan over the internet. Nothing beats a physical, in-person valuation done by a reputable estate agent who has been providing professional expertise over a span of several decades. Such an agent is well aware of the current market sentiment and whether it is a buyer’s or a seller’s market.

In addition to the most updated market know-how, at Benham and Reeves, we are dedicated to getting you the best price for your property and will do all the necessary background work. Right from comparing recent property transactions in the immediate area and postcodes to noting down over-priced properties that are not selling, you will have genuine and specific insights to estimate a fair and achievable valuation. Additionally, we also have access to several premium digital tools and mapping services, which enable us to extract valuable data such as the sale history of properties, local authority guidelines and demographic data for local buyers, which may not be readily available online.

Honest valuation with credible suggestions

Every property has unique features and limitations based on which buyers negotiate the price. As a seller, you will need professional guidance in adeptly marketing all the pros and addressing the cons. After physically visiting the property and evaluating essential details such as the size, layout and overall condition, we will advise you on the most cost-effective upgrades or impending repairs that could unlock a better deal.

Importance of getting an accurate and unbiased property valuation

Property valuations are more than just a price-per-square-foot bargain. Yes, size is a key metric, but you would be surprised to know that the pricing can differ between properties of the same size, in the same area and sometimes even within the same building. The overall look and feel of the property and how it is presented to buyers makes a big difference to its saleability.

For example, an apartment with high ceilings and plenty of natural light might be smaller than a bigger flat with lower ceilings and darker rooms. However, when it comes to sales appeal, the latter might fetch lesser compared to its physically smaller counterpart. With over 60 years of experience in the field, we understand the intricate nuances associated with property transactions and can help you get an accurate and unbiased valuation. If you have a London or UK property ready to get listed and need a fair and free valuation, get in touch with us, and our property specialists will be happy to help!


About the Author

Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents.  With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from 21 prominently located branches and 14 international offices.