A critical factor when many properties don’t sell is a poor valuation, usually when a seller and their agent agree a number that’s too high: they’ve priced themselves out of the market. An appropriate valuation is important as it brings the most buyers to the party.
Lomond have mastered the art of the valuation. Recent data for sales in Irvine show we brought to market 185 properties in 2021 – almost 50% more in Irvine than our next three competitors combined – but only had to re-list at a different price less than 2% of those listings.
Even in a buoyant market, it’s important not to be seduced by agents offering an unrealstic valuation of your prized home. Listing with Lomond can make a real difference.
Lomond will consult with you on the small improvements that will assist your sale, we’ll take great photos, produce a super listing and advise on the best timing for your house to go on the market. And we’ll be honest. We know your local market and can advise on the small touches that will significantly benefit your property’s valuation. All these factors feed into the right price to attract many buyers and many offers, or to hit your target date with the best offers in that window. Beware the agent who offers a juicy target price only to see a reduction a few wasted weeks or months down the line.
Aiming Too High
Listing your beloved home at a price that too high and unlikely to be achieved means
- More time spent on the market as you wait for a sale that might not come
- More marketing costs, as many who relist jump to another estate agency chasing the false hope offered by the original, inflated valuation
- A lack of confidence when showing your home to possible buyers.
Getting It Right
Getting the listing price spot on means
- Many buyers coming to view, especially as local homeowners and investors inherently know what properties are worth in your area
- Less time on market, so you can plan any move with confidence and a minimum of hassle
- Achieving the best price possible, as the right asking price and valuation bring more buyers to the party: the market decides the right price.
There are real practical reasons to seek the right valuation. Our own website and the main sales platforms like Rightmove allow users to search according to their price range – aim too high and true potential buyers will miss your property when they search. Aiming too high also increases the likelihood of deals falling through, especially when it comes to mortgage approvals.
The data doesn’t lie – Lomond’s realistic valuations, personal touch, local knowledge and high-quality but straightforward approach to selling your home wins us hundreds of satisfied customers every year.
Lomond Property are a leading, independent Estate Agent and Ayrshire’s largest Letting Agent. Our marketplace spans rural, town, suburban and city properties, and with our collective 50-plus years of staff experience we take pride in providing the right service for every client and every customer.
For Sales: To discuss a property purchase or sale with Lomond Property, please contact Joe via our Prestwick Office on 01292 471151.
Note: statistics, percentages and references are correct at the time of writing.