10 Additional Questions to Ask on a Valuation
QUESTIONS TO ASK ON A VALUATION
People often just want to hear about the asking price and the fee on a valuation appointment, however there is so much more to consider when choosing an estate agent to sell your home. After all we are talking about your biggest asset and often a stressful process.
Below are some additional questions you can ask on a valuation to help protect yourself from making the wrong decision or to avoid getting caught in the web of a very skilled salesperson who might not have your best interests at heart.
1. What makes you sure the property will achieve X amount?
Unfortunately, there are lots of estate agents who overvalue to win the business, then lock their poor clients into a long contract before badgering them for price reductions.
They should be able to provide up to date evidence using industry leading data and/or be able to explain exactly why they have arrived at the figure they are suggesting. If they can’t… run a mile!
2. How many people will deal with the sale of the property and how experienced are they?
Lots of traditional estate agents have different team members for different jobs. Typically, a valuer or manager will do valuations because they are deemed the best at objection handling and have the most experience. It is often a trainee or least experienced staff member who will actually do viewings with a negotiator handling the offer process. Then once a sale is agreed it is all passed over to the admin department for sales progression.
I would advise asking exactly who will be involved and if you can meet them all before deciding to proceed.
It might sound extreme but think about how you would feel if you really like the person who comes to value your house so you go with them only to never see or hear from that person again?
3. What do you actually do to earn your fee?
Rather than just asking what the fee is, consider asking them to justify it. In my opinion this should be a looooong answer if they are worthy of your time.
There may be plenty of cheap agents out there but do you want to risk awful service with something so important.
4. How long is the sole agency contract for?
Many people are not even made aware they will be locked into a contract lasting weeks or months so please make sure you ask this question. If they feel the need to lock you into a lengthy contract, I would be questioning their confidence in their ability to sell the house for you.
5. Does the house need any works prior to marketing?
It is always good to have sound advice on the staging of your home and/ or any little bits you can do to increase the appeal.
6. When are you contactable and can I have your mobile number?
In this day an age, I believe estate agents should be contactable outside office hours. This is why I use group messaging on WhatsApp with my clients so everyone is kept in the loop and their queries can be answered promptly whether it is 10pm at night or first thing in the morning.
Often matters are resolved in the evening so having to wait for an estate agents’ office to be open just leads to frustrations and can cause delays with the process.
7. How is their marketing any different to all the other agents?
Do they create a professional promo video?
Do they use targeted social media ad campaigns?
Do they utilise the “online viewings” tab option on Rightmove?
Do they post a live #beattheportals video to generate interest before the house even goes on the market?
Do they share monthly market updates for buyers and sellers?
Do they let sellers have their say by writing their own personal piece included within the description online?
Do they have a network of Partners all striving to promote each other’s listings and share connections?
My answer to each of the above is yes!
It is the 21st century, estate agency needs to catch up and move on from simply flinging photos and a floorplan on Rightmove and calling round an out of date database of buyers who registered months ago.
8. What is their covid safety policy?
It is vital we keep everyone safe. Our policy is to continue wearing masks and using hand gel. I also clean any touched surfaces after viewings as well. This puts my mind at ease that I have done all I can to protect myself and my clients.
9. How long will it take to be able to get on market?
This goes back to who will be handling each aspect for you. If they outsource to another company or staff member, this is likely cause delays.
As I do everything myself, I can have a new listing up and ready within a matter of hours. I work around my clints timeframes.
10. Why do they do the job?
This is a big one for me. It should be more than just about putting food on the table or being able to afford a flash car. Ask me what my “why” is and you should be able to FEEL the passion I have for what I do.
Thank you for taking the time to read this, please get in touch if you have any queries.