Published: 15/10/2024
How to Tell if an Estate Agent Is Giving You an Honest Property ValuationWhen selling your central London property, the first questions you'll likely ask a central London estate agent are, "How much can you sell my property for?" and "What are your fees?" These are essential to understanding how much you'll walk away with after the sale. However, choosing an estate agent based solely on these two factors may not give you the whole picture. To ensure you're getting an honest property valuation, here are key things to look out for before signing a contract.
1. Ask About the Tie-In Clause
Before agreeing to work with an estate agent, ensure you understand any contract tie-in clauses. A long tie-in period, such as 24 weeks, could indicate the agent overvalues your property to secure your business. Ensure you're comfortable with the length of this commitment and clarify why it's necessary.
2. Be Wary of Overvaluation
If an estate agent offers a high valuation and a lengthy tie-in period, it may be a tactic to win your business. Overvaluing your property can make it harder to sell, leaving you stuck with an agent who is more interested in securing a listing than delivering results. Always ask how they arrived at the valuation and if it aligns with recent sales in your area.
3. Check for Notice Periods
Long notice periods in the contract can indicate poor service. If you need to terminate the agreement before the property is sold, be sure you're not locked into a lengthy notice period that could hinder your ability to switch agents if necessary. Clear, flexible terms are a good sign of an agent who is confident in their ability to deliver.
4. Do Your Research
Take the time to research potential estate agents in your area. Look for those with a good reputation for both honesty and results. Check online reviews and ask for recommendations to ensure you're choosing an agent who is known for providing accurate valuations and excellent customer service.
5. Read the Contract Carefully
Before you sign any contract, thoroughly read the terms and conditions. Make sure you fully understand any clauses related to tie-in periods, fees, and notice periods. Don't hesitate to negotiate or consider other agents if anything seems unclear or unfair. The contract should outline the estate agent's responsibilities, fee structure, and marketing strategy for your property.
By following these tips, you can feel confident that you're receiving a fair and honest property valuation. Working with a local estate agent who has a strong reputation for transparency and delivering results can make all the difference in securing the best sale price for your property.
Contact Circa London Sales & Lettings for a free, no-obligation property valuation. Whether you're selling a charming Georgian terraced house in Roupell Street or a luxury apartment in NEO Bankside, our expert sales team can provide an accurate market valuation tailored to your needs.
