Integrity Is Something You Do When No One Is Looking
In the modern world, with so much information at our fingertips, it’s a surprising thing that landlords and vendors are still attracted by glamour over substance. I have lost count of the times we have valued a property correctly, only for the vendor or landlord to go with another more corporate agency as they have told them they will get another £25k on the price of their house, or a higher rent on the unit in question.
When all the evidence provided from actual data proves this position not to be the case, why would you sign an exclusive twenty-week contract? If they are so confident of this high price then sign a four-week contract, that should be sufficient. If it's not being pitched too high, it should attract attention quite quickly, particularly in the current market. Instead, the process starts with little interest past the first day or so, and then the slow realization that it's on for too much money. The agreement to lower it to a more reasonable price ensues, and then it sells just prior to the end of the sole agency agreement. It happens all the time, and it's maybe something that a lot of agents are happy to do, but I just can’t get on board with giving people false information. It just doesn’t sit right with me at all. I also go into all valuations hoping that each landlord or vendor has done their homework by seeing similar properties in the area on whatever portal they like to look at so that when the agents come to pitch their services, they can see who is giving them accurate and true figures. I read that trust is the most important factor a vendor looks for when choosing an estate agent, and I hope this is true, but it seems that perhaps the most important thing is if they can say the highest price they can achieve, even if it's blatantly false. It's important to know that integrity is something that you do when no one is looking.
My top tip for getting your property valued, is to do your homework, look on the portals and see what’s on the market, and be honest if it’s better than yours, there is no shame in there being better properties than yours on the market, but everything has to be valued accordingly.
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