There is an assumption that it is now very easy for someone to value their own home for sale.
This can be the case where homes are identical and a number of homes have been sold in the last 12 months down the same street. The stats show however that most people are off the mark with 45% of people undervaluing their home and 25% overvaluing their home.
Don’t feel disheartened, as professional valuers here at Tortoise Property our best guess is sometimes out. So what helps us hit the bulls eye and removes the guess work?
We start with our story’s, then our jigsaws, seesaws, cakes and then we finish with our dart board.
So we first take a look at the data.
Experience tells us that data tells us a story, so we look at which pieces of data are relevant and what story it tells us about the buyers in the marketplace.
We compare properties on the market.
Experience tells us where you fit within this jigsaw, which homes are not as good as your own, which ones are better and which you will be competing with.
We assess supply and demand
Experience tells us that supply and demand is like a seesaw, it is only level when not being used. So we assess the buyers in your price range to understand the balance of the market.
We set the price range
Experience tells us that there is more than one price for your property, like there is more than one way to make a cake. You can make a cake in a day, or you can make a real Christmas cake over six months. So we set the range ready to understand your timeframe, your homes finish and any improvements to your home.
Then the marketing price
Experience tells us that a marketing price is like a target on a dart board. If your are experienced you will hit it more often than not, like hitting the bulls eye, and when you miss you are going to be very close to the target.
So pricing a property is just about story’s, jigsaws, seesaws, cakes and dart boards.
And like most of you who are good at what you do it just needs a little experience.
If you need some help understanding your local property market visit our website at www.tortoiseproperty.co.uk or call us on 01733 592020.
Mike Matthews
Tortoise Property Limited