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Beware the amateur valuer!

We've lost count of the times we've wound up a property appraisal for a seller with our opinion of its likely open market value to be hit by a hasty response along the lines of, "Well that's all very well but our neighbours and other members of our family think it's worth a heck of a lot more than that!"

At the other end of the spectrum, we regularly field offers from would-be buyers insultingly lower than realistic asking prices. They justify it by advising us their learned friends and family have no doubt the property is overpriced by many thousands of pounds and unless the sellers drop by a five figure sum they should drop it like a hot brick.

So who is right - the agent or your dearly beloveds? In all honesty, based on sale price data available from the land registry, awareness of buyer demand and many years of experience, the agent is most likely to be the closest.

In the final analysis the deciding factor will be the market. After appropriate exposure to the market, the market will determine value. So we're very sorry to the well meaning neighbour and Uncle John, it's not them who knows the value, it's THE MARKET and the price paid on the day contracts are exchanged will determine the actual value.

You'll see that following a shortage of new listings on our register a number of new recruits have joined us. We've still room for plenty more so if you're looking to sell this spring and want to sample the special attention of our friendly family firm -

Call us First!

By Chris Willey

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