Your agent is too scared to tell you what they really think!
Want to achieve the maximum price for your property? Of course, you do, everyone does!
It is incredibly important to make certain changes to some properties to ensure the maximum price and speed of sale for your property. This can be anything from re-decorating or staging a property for photos to structural work to opening up a kitchen into a dining room. The aim is always to ensure you achieve as many quality viewings as possible. The problem is that most estate agents are too scared to be completely honest with you as they are scared of losing you to a competitor. At iMove, we think this is the wrong way to act and ultimately it will lead to a poorer reputation as these agents will take longer to sell properties and will achieve lower prices for Vendors!
I’m amazed by the number of Vendors or Landlords who will ask me if that wall covered in children’s dirty finger marks should be painted over – I always say “yes, definitely” – so many of my competitors have told the customer not to bother. Or if I think it would be a good idea to have blown double glazed units repaired / replaced – the answer to this one is also a yes. It may cost a few hundred pounds to do but that’s a darn sight less than the many thousands a buyer will reduce their offer by to factor in new double glazing!
One of the biggest turn offs for buyers and tenants is pet smells. People are very attached to their pets and rightly so, we all love our cats and dogs but people don’t want to smell them or see their fur on carpets– buyers and tenants certainly don’t! Many a customer has asked me if there’s anything they can do to help shift the property – if it smells of pets I always tell them. Dirty or heavily worn carpets, gardens that need weeding, coping stones or gateposts that need painting, old fashioned dark wood kitchen cupboards that would benefit massively from a lick of white paint etc etc etc….. the list can be endless. But with a small amount of time and money invested, you can reap the rewards financially with higher asking prices.
My competitors must think that somehow by saying “no, it’ll be fine” it will appear easier for the customer to sell or rent the property – this is such backward thinking. 9 times out of 10 the buyer will knock more off the asking price for decoration than it would cost the customer to paint. It will also feel newer and fresher, that new paint smell is unmissable!
Now, I’m sure I’ve lost some instructions over the years due to giving a totally honest opinion. It’s completely someone’s prerogative who they choose to sell or let with but I know that ultimately, they will value my opinion when the property takes longer to sell and buyers won’t pay as much as the customer wanted for the property.
Overvaluing – this is a classic old-fashioned estate agent’s trick to winning more instructions and another example of being too scared to tell people what they really think. So many times, I value a property and a competitor has said a higher figure. I stand in the property thinking “that’s crazy, there’s no way it’s worth that. Thankfully most Vendors and Landlords are realistic and can see straight through it but some sadly are not. The property inevitably ends up sat on the market not selling and usually the customers come back to iMove when they realise we were right!
Surely, whatever the situation, it’s just better to be totally honest and up front from the start?