‘Think before going for the highest valuation’

Richard Marriott Dodington, sales manager at independent Leamington sales and letting agent Tara & Co, has commented on the current market during a volatile period for sales nationally.

This year is Tara & Co’s 40th in the local market.

He said: “Choosing an agent can be a challenging decision, particularly in this turbulent market, with more variety of opinions on value than ever before. The temptation to go with the highest figure can be very enticing and, after all, everyone is going to come in with a lower offer, right?

“Well no, according to a recent survey carried out by Right Move Intelligence. Its findings showed that only 38 per cent of prospective purchasers would view a property they consider to be over-priced, even if the property ticks all their wish list boxes.

This means that 62 per cent of people would completely write off a property without giving a thought to putting in a lower offer.

“Many vendors think that they are giving themselves room to negotiate with potential buyers, but with six out of ten people being put off their property before setting foot in the door, this clearly is a risky business.

“If you do decide to push ahead with a higher price, the research also shows prior discussion with your agent about how much you are prepared to negotiate is important. Twenty per cent of those who would not want to view the house, would ask the agents if the vendor would accept lower offers.

“Your agent should be able to provide you with detailed comparable evidence of price so that you know your position in the market.

“At Tara & Co due to the level of recent demand we have been building our sales department, with clear processes being at the heart of the service we offer. This starts with providing you with a realistic and achievable price for you to consider on our initial visit.”

For a free market appraisal and honest property valuation, call Richard on 01926 422077.