How much is your property worth?

7 factors which can influence price

The short answer is that a property is only worth what the market is willing to pay for it, but in this blog piece we look closer at 7 factors which can influence exactly how much a property is likely to sell for and what can be done to influence the eventual outcome.

1. Market Evidence

We base our advice on our own vast experience of buying and selling properties in the Perthshire area and also by analysing local market data that we have access to which includes, where possible, previous sales within close proximity to your own property and of a similar size and type. Ultimately it is the appointed surveyor who will establish the valuation on the home report following their full inspection, but it will also be based on market evidence similar to our own. Our extensive local knowledge of working and living in the area gives us a key insight into how different areas are performing and what times of year may be better to sell in.

2. Being Realistic

One of the reasons we feel we have performed well in selling so many properties is because we are being very honest and realistic with the valuations and advice we are giving to our clients. Giving an indication of a value isn’t an exact science. There is no simple calculation that will be completely accurate, but we never waver from being completely transparent and truthful as to how or why we have arrived at our opinion. In a competitive industry, some agents may be tempted to overpromise and simply overvalue a property to win instructions.  However, this  can have an impact on the length of time a property sits on the market and whether a sale is achieved at all. Independent Rightmove data shows that, although we are one of the top performers for sales across all of Perthshire, we feature very low on the number of price reductions that we action on our properties.  This demonstrates that our valuations and pricing of properties is very accurate.

3. Features

Two neighbouring properties could very well sell for two completely different prices. If one requires significant modernisation or upgrading, it’s only natural that it may sell for a lower price. Things like a garage, south-facing garden, scope for extending, views and storage space can all have a say in how much a property will sell for. This is why we suggest having one of our property experts visit your home to fully appreciate and understand all of the key features it boasts in order to help arrive at an accurate valuation. 

4. Presentation

The condition of your property can have a major say in, not only achieving a sale, but generating viewings in the first place. We produce a full colour printed brochure for every property we list, together with floorplans, professional photos and an HD video tour. Before this takes place, we advise clients of the benefits of decluttering, tidying rooms or addressing any problem areas and how taking that little bit of extra time can really enhance first impressions. This is equally important for when viewers are booked to view

5. Location

There’s no doubt that the same type of property may sell for a different price if it’s located in a different area. Different areas of Perthshire can perform very differently from one another, let alone different areas of the
country. Again this is where our local knowledge and experience can prove to be crucial in establishing an accurate market value of a property. Things like school catchment, access to amenities and travel links all may have a say in what makes a location more desirable.

6. Marketing

When marketing a property, you want to make sure as many people as possible know about it. Whether it’s online, by word of mouth, by phone, email or a simple ‘For Sale’ board, generating as much interest in your property can be vital when trying to achieve the best possible price. This is why we use various platforms and methods to do exactly that. Using major property portals such as Rightmove, Zoopla and OnTheMarket, as well and our own busy website and social media sites (such as Facebook, Twitter and Instagram) open your property up to the widest possible online market.  In addition, we still believe in using the traditional methods to go that extra mile and leave no stone unturned in finding the perfect buyer.

7. Negotiation

The art of negotiating is a key attribute across a number of different industries and lines of work and estate agency is no different. How this aspect of a sale is handled can truly make or break how much your home could sell for. Knowing how to say something and when to say it comes with years of experience and being involved in hundreds, if not thousands, of sale and purchase negotiations. Whilst we may value a property at a certain level, our aim is to achieve the highest possible price and we often agree sales in excess of the home report value. 

Testimonials
Alexander Kennedy (July 2020) – “House sale completed within less than a week.  Very impressed with service and would have no hesitation in recommending your company.”Alexander Kennedy (July 2020) – “House sale completed within less than a week. Very impressed with service and would have no hesitation in recommending your company.”Estate Agency Client - 4 bed Detached Villa, Coupar Angus (achieved 109% of asking price)

"I chose to sell my property with Premier Properties due to them being local and knowledgeable.  Very happy with the photography.  Comms excellent.  Negotiations dealt with quickly and efficiently.  House sale completed within less than a week from the date the property was advertised.  Very impressed with service and would have no hesitation in recommending your company.  Great service and, from my point of view, I can give no more suggestions, very happy with service."

 

Sifet Mesanovic (July 2020) – “Exceptional service by all staff from Premier Properties.  We would be more than happy to recommend Premier Properties to all our friends and family: market Knowledge, customer service and good value for money.”Sifet Mesanovic (July 2020) – “Exceptional service by all staff from Premier Properties. We would be more than happy to recommend Premier Properties to all our friends and family: market Knowledge, customer service and good value for money.”Estate Agency Client - 3 Bed House, Perth

"We chose Premier Properties to sell our property due to their experience in the local market, as well as giving a realistic selling price.  The marketing was very professionally done with exceptional video and picture of the property.  The way in which they conducted viewings and dealt with potential buyers was 100% satisfactory.  Exceptional communication - kept up to date with every process regarding the sale.  Professional advice given during negotiation, realistic selling price.

Exceptional service by all staff from Premier Properties.  We would like to thank Premier Properties staff for selling our home and wish them well in the future. Also, we would be more than happy to recommend Premier Properties to all our friends and family: market Knowledge, customer service and good value for money."

 

Michael Marsden (July 2020) – “I felt very good about the whole experience.  I would recommend Premier Properties to others.  They are professional but, most importantly, you are kept informed and made welcome.”Michael Marsden (July 2020) – “I felt very good about the whole experience. I would recommend Premier Properties to others. They are professional but, most importantly, you are kept informed and made welcome.”Estate Agency Client - 5 Bed Detached Villa, Forgandenny

"Premier Properties had rented the property for years very well and, therefore, knew the property inside out.  The property was marketed to a very high standard.  Potential buyers were treated very well  but, equally important, I was regularly updated and kept informed.  The sale of the property was negotiated very well, the price obtained reflected the market at the time.  I felt very good about the whole experience.  I would recommend Premier Properties to others.  They are professional but, most, importantly you are kept informed and made welcome."

 

 

William Duff (July 2020) – “I would recommend – they communicated well and are a good team.  Keep doing what you do well.”William Duff (July 2020) – “I would recommend – they communicated well and are a good team.  Keep doing what you do well.”Estate Agency Client - 2 Bed Flat, Perth

"I chose Premier Properties to sell my property as I had previously used them for lettings.  I was very pleased about how they marketed my property.  I did my own viewings.  I would recommend - they communicated well and are a good team.  Keep doing what you do well."

Fraser Morrison (March 2020) – “Excellent media coverage of the property, as opposed to alternative traditional approach. Prompt after-viewing feedback and regular, relevant communications and updates.  We always were aware that a viewing was happening and timing thereof.  Staff worked as a coherent team.”Fraser Morrison (March 2020) – “Excellent media coverage of the property, as opposed to alternative traditional approach. Prompt after-viewing feedback and regular, relevant communications and updates. We always were aware that a viewing was happening and timing thereof. Staff worked as a coherent team.”Estate Agency Client - 3 Bed Semi Detached House, Perth

We chose Premier Properties due to personal contact and recommendation from a friend.

Excellent media coverage of the property, as opposed to alternative traditional approach. Prompt after-viewing feedback and regular, relevant communications and updates.  We always were aware that a viewing was happening and timing thereof.  Staff worked as a coherent team.

There seemed be a string of varied viewers quickly after the marketing was launched. Managed to seal the deal and extract the offer promptly, using expertise to understand the likely market peak.

Highly professional throughout leaving us confident that marketing, viewing and getting feedback from viewers was progressing.

Yes, I would recommend- based on recent experience.

Joy Simpson (March 2020) – “The marketing of the property was excellent.”Joy Simpson (March 2020) – “The marketing of the property was excellent.”Estate Agency Client - 2 Bed Flat, Perth

We chose PPP to sell our property as they were recommended through a friend.  The marketing of the property was excellent. Good photos and video.  As the property was empty we were happy for PPP to conduct the viewings and this was handled well.  We were always given advance notice of a viewing followed by an update on the feedback from the viewer.

Gary and Chloe were brilliant and always available when we needed advice.  The negotiation of the sale was handled quickly and professionally.  Although it took a bit longer than we thought to sell the property we were very happy with our experience as a whole.

We would recommend Premier Properties as they are very knowledgeable of the local market and kept us informed at all times. Staff are professional, friendly and nothing is a problem to them.

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