Unlock your home’s value:
The ultimate guide to accurate and ethical pricing
Welcome to our definitive guide on accurately valuing your property.
Since 1998, we’ve been serving home sellers and buyers in Leicester, gaining extensive knowledge and insights about property pricing.
Our experience has taught us that accurately pricing a property is vital when it comes to successfully selling.
It’s about more than just making a sale. For many of us, our home is our most significant tax-free asset, and for some, getting the best possible price can potentially have life-changing benefits.
We understand this and are committed to ensuring the price is not only right for you, but also attractive to potential buyers.
This guide will show you:
- The factors that contribute to an accurate property valuation
- Common myths and misconceptions about pricing property
- The potential pitfalls of overpricing and underpricing
- And a wealth of additional insights and tips we’ve gathered over the years
We’ve written this guide with a view to helping people who are considering selling. But the principles apply even if you’re just curious about getting a valuation.
Either way, give us a call if you have any property-related questions you want expert answers to.
We’re here to help.
When valuing a home in Leicester with a view to selling, it’s easy to be tempted to set your price too high, hoping to cash in on a big profit.
Alternatively, some may go too low, aiming for a quick sale.
But as we’ve learned over the years, the ‘Goldilocks Principle’ of property pricing is fundamental to your success.
Just like the porridge in the popular children’s story, Goldilocks, your property’s price shouldn’t be too ‘hot’ (high) or too ‘cold’ (low). It needs to be ‘just right’.
Set the price too high, and potential buyers might be scared away, causing your property to linger on the market. If it’s priced too low, it might sell quickly, but you could miss out on significant, life-changing profit.
Neither scenario is ideal (nor is getting caught stealing food and lodgings from hangry bears).
Finding the ‘just right’ price – that sweet spot where the property is attractive to buyers yet still ensures you receive the value you deserve – is a fine art/science we’ve been perfecting for years.
The initial weeks after valuing and listing your property are critical, creating a window of high visibility and potential buyer interest. Priced accurately, your property can attract keen buyers willing to pay good value, capitalising on this peak period of interest.
An overpriced property, on the other hand, may push potential buyers towards more reasonably priced alternatives.
So, accurate property pricing is not just important – it’s paramount.
Remember, in property pricing, it’s about finding the ‘just right’ balance, something we are here to help you with.
The old adage is true – where your home is located has a major influence on its value. From proximity to good schools, amenities and transport links to the overall appeal of the area, location can, and does, significantly impact the price.
The overall square footage and layout of your home matter. Additional features like a garden or a garage can add to your home’s appeal.
A well-maintained, modern home is more attractive to buyers than a similar but in worse condition property (unless you’re seeking a doer-upper). The age of the property also influences its value – older homes can charm buyers with their character, while newer homes often require less maintenance.
The health of the local property market in Leicester can’t be overlooked. A seller’s market, where demand outpaces supply, usually increases home prices, while a buyer’s market might mean more competitive pricing is required. This changes based on the financial climate, so give us a call to find out what kind of market we’re in right now.
The selling prices of similar properties in your neighbourhood can give a clear indication of what buyers are willing to pay.
Common mistakes when valuing your property
The role of good estate agents in pricing accurately and ethically
We are experienced experts in Leicester market trends and dynamics. This knowledge is crucial in generating an accurate valuation and getting any potential sale started on the right foot.
Our valuation process begins with an in-depth, onsite evaluation of your property. We consider its size, condition, location and unique features. But we don’t stop there. Less tangible aspects, such as current market demand, local amenities and school catchment areas, are also factored into our assessment.
We’re not in the business of overpromising to secure your instruction or underestimating to achieve a quick sale. Our goal is to provide a realistic and honest valuation that aligns with the current market and is achievable.
Beyond the valuation, we offer professional advice on presenting your home to maximise its appeal to potential buyers.
Remember, a good estate agent is your partner in the valuation/selling process. We’re here to guide and support you, putting your interests first. By choosing us, you’re choosing transparency, expertise and a commitment to your property’s true value.
Your valuation myth buster
Below are four common myths homeowners often encounter.
The myth is stick it on high and get offers lower.
“The online valuation told me my property is worth £500,000. What do you mean it’s only worth £450,000?”
“I’m always getting estate agent leaflets through my door, telling me my house will sell really fast as there are loads of buyers for my road.”
Beware of next-door syndrome.
Knightsbridge Estate Agents & Valuers – Company Number: 03895928
Knightsbridge Professional Lettings – Company Number: 09983885
Registered Address: 72 Queens Road | Clarendon Park | Leicester | LE2 1TU