back Posted on 24 January 2023
Is the Highest Valuation of my House the Best?
Good Question! But There are Many Factors to Keep in Mind

In Northern Ireland, property prices have risen consistently over the last two years, and that’s excellent news for sellers who want to get the best possible price for their home. So it isn’t surprising that many sellers choose to use the estate agent that gives them the highest valuation for their property.

But is that always the best decision?

It may seem like a no-brainer to go with the estate agent giving you a valuation figure far above the others. But there are factors to remember before you make your final decision. The team at Pinkertons Estate Agents want you to know how crucial it is to understand the importance of a correct valuation. We want to help you make a properly informed choice when selling your home in Co. Down.

An Overvaluation May Make Your Property Become ‘Stale’

Some estate agents are prepared to do whatever it takes to get new business, including overpricing properties to persuade sellers to take up their services. We totally understand that it’s very tempting to choose the estate agent that suggests you list at a high asking price. But remember that if they have overvalued your home, it could sit for months on the market without any buyers showing interest – essentially, it becomes a stale property. Eventually, you’ll have to reduce your asking price to sell your home, and that never looks good to prospective buyers.

The Importance of Price Banding

All prospective property buyers have a budget they’ve set for themselves and will only view properties fitting into that criteria, usually with a small buffer margin just in case. When a property is overpriced, you’ll miss out on prospective buyers searching for a house just like yours but never see it in their searches because it’s been valued above their maximum budget limit.

On the other hand, a realistic valuation will bring your home within the budget of more potential buyers. If there’s enough interest, you could find that your property is the subject of a bidding war where purchasers are prepared to push their financial boundaries to secure your property. This approach could see you getting a higher sale price for your home than you would have if you’d gone for the higher valuation in the first place.

Getting an Expert Appraisal

Choosing a reliable firm of estate agents like Pinkertons couldn't be more important when listing your property for sale in Bangor, Newtownards or Comber. A trustworthy company will always be honest, transparent, and straightforward and will use their local knowledge alongside information about the current property market conditions to give you the most accurate and realistic valuation for your home.

Get Help

Contact your local Pinkertons office to learn more about our property valuation process and how we can help you find the perfect buyer for your home.

We care about property. We care about you.
Pinkertons Estate Agents
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