The offer price on a property doesn’t automatically equate to the sale price. People often underestimate this fact when selling their property. The price you actually achieve can be higher or lower than the offer price. This is down to the skill of the negotiator. The following three typical situations encountered time and again in the world of real estate demonstrate why it’s better to use the services of an expert.
- 1. When the rose beds would be better converted into a parking space
Every garden-owner knows how much time and effort goes into tending their green space. If the potential buyer then denigrates the garden during the viewing and demands that the flower beds be replaced with a parking space, this often spells a quick end to the negotiations. As this is of little benefit to either party, a property expert would intervene at this point and act as a mediator. They have in-depth experience in mediating such interhuman interactions and can use their expertise, established over many years, to place themselves effortlessly in the shoes of both the buyer and the seller. They will also advise on the likely costs and feasibility of implementing the potential buyer’s ideas.
- 2. The price does not match the condition of the property or suit the taste of the buyer
A fan of the Seventies will love their retro tiles, whereas a potential buyer might find them ghastly. However, the potential buyer often believes such flaws to be much more costly to remedy than is in fact the case: if they overestimate the costs of laying new bathroom tiles, a professional estate agent can correct them with a more realistic estimate. Or they can mediate an agreement between both parties in cases where renovation work will create a better standard of living.
- 3. Outdated electrics
A superannuated fuse box is a common cause for complaint among potential buyers: if your home was built in the 1970s or 1980s, there is a good chance that the fuse box doesn’t feature a personal safety switch, though these are now mandatory. A potential buyer will spot this fact, and likely ruminate on the cost they imagine they will incur in modernising the electrics. However, you can safely assume that your professional estate agent will anticipate such instances and have consulted an electrician ahead of any viewings. So if the potential buyer believes that everything needs overhauling from top to bottom, the estate agent will immediately be able to give them an exact outline of the cost based on the electrician’s estimate.
Conclusion: Your professional estate agent combines expertise with experience, enabling them to identity any aspects of your home that a potential buyer is likely to find fault with during a viewing. The estate agent will be on hand to advise and inform, and thus provide reassurance on any issues with the property that the potential buyer may raise. You can therefore look forward to an outcome that satisfies – or even exceeds – the expectations of both seller and buyer.
Are you uncertain about your property’s potential flaws and are considering using the services of a professional for the price negotiations? Get in touch with us! We are happy to advise you.
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Disclaimer: This article does not constitute tax or legal advice in individual cases. Please consult a solicitor and/or accountant to clarify the circumstances of your specific case.
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