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What can you expect with a market appraisal?

A market appraisal is the first step towards putting your house on the market and beginning the next chapter of your story.

There is often confusion between a market appraisal and a valuation so here are some things you need to be aware of in the first instance:

A market appraisal is where an agent values your property for sale purposes and provides a possible guide price.  It also provides the perfect opportunity for an agent to get to know you and your property.

A valuation is more formal than a market appraisal and is done by a professional surveyor, there is usually a charge for this service, and you can request to use the document towards a legal proceeding such as probate or a divorce settlement.

Here at GSC Grays we can help you with both.

Choosing the agents that are right for you:

When choosing an agent, it is important that you feel comfortable with the advice you are being given.  Our agents are experienced and have extensive knowledge not only of the geographical area but the property market too. We will talk in detail about the options available to you and leave with you a copy of our market appraisal booklet which includes tips for selling, information about the team you will work with and an insight into the other areas GSC Grays covers that may be of benefit to you during the process.

It is natural to have plenty of questions and our agents are always happy to talk you through the process and put your mind at rest.  To support you through the process, we would encourage those thinking of selling to contact us as early as possible.

We will of course look at the condition of your property, however, the main aspects of valuing a property and comparing it to similar sold properties is the size, number of bedrooms, outside areas, and general appearance.

An estimated valuation of your property is available online, however, these do not take into consideration any works you have done to improve your home and can in some instances be very misleading. You need to be aware that online value generators will produce a price based on what your property last sold for and then add a percentage depending on the general market. A good valuer should be able to give you a far more accurate valuation and understanding of the current property market as well as advice on how properties are selling in your area.

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Is the time right for you?

The property market is a fast-changing one, and house prices fluctuate at different times.  The stamp duty holiday has seen a rise in property prices, and it is unknown what will happen when it comes to an end, as we discussed in our recent property podcast.   Our agents will take the time to listen to your concerns and give you the advice to help you with your decision.

Is the price, right?

It is tempting to go with an agent who prices your property at the highest value.  But this doesn’t always mean they will achieve the best sale price.  We suggest that you take the time to discuss with the agent why they have priced the property at the value that they have and ask them for evidence that properties can be sold around this price in your area. You need to think about your motivation for selling and if you have time to fully test the market at the higher price, or if your main objective is to move and find a buyer quickly but achieve a reasonable price.  Our agents will work with you to create a pricing strategy to suit your needs and achieve the best outcome for your circumstances.

Market appraisals and choosing the right agent for you are extremely important, as buying and selling can be one of the most stressful times. You need to have a connection with your agent and the team and believe they are going to do the best for you. If the agent has taken time to do some research and talk to you in-depth, then it is more than likely they will have an equally proactive team and be able to find you a buyer.

It’s about communication

Selling houses is all about communication, we recommend visiting the branch and meeting the team that you are going to be working with. Look at how the office is managed and how the properties are displayed, talk to a member of our agency team.

Overall, a market appraisal is the foundation of your house sale experience, and it should leave you feeling confident about the advice you have been given. The professionalism, research, and how the appraisal is conducted should be just as important to you as the figure they give you.

Our regional teams are here to help you with the next chapter of your story.  To discuss your property needs or to arrange your market appraisal contact a member of our agency team.

 

 

Erica Cooper

Article by

Erica Cooper
Senior Sales Negotiator

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