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Beware of the Eggman

Thu 5 June 2014

If you are thinking about putting your house on the market… and now is a very good time to, think…. and then do it…. because the market is about as buoyant and active as it has been for some time now…… some people think it prudent to get more than one Agent to come and appraise their house and give their opinion of the what is going on in the world of house sales and in some cases this is a very sensible thing to do.

However I would like to strike a word of caution:  Take care in who you choose to come and look at your most valuable asset. Let me explain. You would not ask an Estate Agent from Penge or Cleethorpes to come and give their opinion on your house in Bishops Castle or Craven Arms, would you? Of course not, an extreme example I know, but you should chose an Agent local to the area you want to buy in, because the local Agent knows their local market, and more importantly, they know the buyers who want to buy in their areas, because the buyers have come into their shops and told them.

If you want to buy a house in Bishops Castle you should go and see the Agent in Bishops Castle, not an Agent in Ludlow for example, I mean you could, but what’s the point?

Similarly the Agent from Ludlow, for example, would not know the local Bishops Castle market as competently as the Bishops Castle Agent.

What sells for one price in Town A will not necessarily sell for the same price in Town B, only 10 miles away. So when the smooth talking Agent from “over there”, flatters you with an impressive figure he says he can sell your house at, way above what the local Agents suggest, (I think that is called over egging the pudding) ask yourself can he be right?. Putting your house on the market at the wrong, excessive price is a waste of your time and effort.

Buyers are a canny lot, and most have done their homework before venturing out to look at properties. They know roughly what they expect to pay, and if your house is at the wrong price, they won’t come and have a look, most likely, they will ignore it.

So when the Agent comes knocking at your door, and impresses you with the figures they spout, look carefully for egg stains on his jacket (and in some cases his tie, her shirt, his trousers and even her shoes). Better still, though, use and trust, the local Agent who knows your local market the best.

Simon Smith - Property Manager, Bishops Castle Office (01588 630070)

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