Over valuing properties to increase instruction

Over valuing properties to increase instruction

Recent reports condemn estate agents for over valuing properties to increase instructions only to later reduce price in order to sell, says Which?. This report goes on to mention that the customer does often demand the higher price however, many estate agents will often go over and beyond the value in order to receive the instruction. As many as one in five properties are being forced to drop in price in order to sell.

This, in the eyes of the public depicts some estate agents to be creating false economy resulting in over inflated property costing more to market long term and an unhappy client having to accept less money for their property, according to Which? study. If only they had received an accurate valuation?

Property is only worth what someone will pay for it. Agents who employ a system of ‘over valuing’ are not only tainting the reputation of our profession but stagnating the property market forcing more sales to collapse. The continued demand for properties will only encourage this system to be used.

At Keylet we ensure that all valuations are accurate taking into account local demand and other comparable evidence. We aim to preserve and reinstate confidence in our profession by providing an honest service. For a valuation on your property get in contact with a member of our sales team on 02920 489 000, alternatively you can get your online valuation via our website.

Published: March 2, 2017