Senior professionals and real estate managers spend a great deal of their time acquiring properties to rent out or sell. All clients want properties that the lowest possible rates and have high appraisals. This makes the entire exercise quite complicated. Real estate agents have already grown fond of hearing that the property is undervalued or the fees charged is too high.
This guide from reputable Leicester letting agents provides a structured way on how real estate agents present solid valuations to their potential clients. Estate agents provide a solid valuation to all potential clients. They acquire agencies properties that their agencies can cover regarding advertising and marketing, then maximize on profitability.
Knowledge of the local property market is essential
In most instances, the value of a potential property is based on the properties in the surrounding vicinity. For instance, if the general sale price of homes in a town is around 250, a certain area might not fetch more than 185. Having the right knowledge on how much a property will fetch for is necessary when meeting with potential clients. There are special platforms used by successful real estate agencies. Clients will be unable to doubt the agent when he provides the valuation of the nearby properties.
Do not be hasty to start property evaluation
Estate agents hide their enthusiasm even when they are excited about a certain property. If the agent shows overzealousness, the client will be difficult when negotiating their fees, affecting their profitability. When you arrive on the scene, be calm and focus more on introducing your agency procedures. During this interaction, you build a relationship with your client. In addition, if the client does not meet your specifications you can easily proceed to another one without wasting precious time.
The agents hardly request to check out the house during the first meet. This is because a client might get carried away and assume the role of a surrogate real estate agent. They will show you the best parts of the house to raise its valuation. Usually, the experienced real estate agents stick to open-ended questions.
As they present the market vicinity price, they look directly at the client to see whether they will act disappointed, surprised or excited. Excitement will mean that the client had under-estimated the value. On the other hand, disappointment or disgust show that they had higher expectations. Whatever the situation, the agents assure the clients that they will arrive at a price that suits, everyone.
The vendor tour
Expert agents do not take notes or marketing pictures when being given a tour of the home – this comes in later. Your aim here is to arrive at a consensus with your client on your valuation of the place. They stick to comments that assure their clients of a quick sale.
Setting a price
Do not be idealistic when arriving at a price, instead highlight the negatives of the property. Point out the good and bad attributes of the property in equal measure. A reassuring way to convince you clients is by showing them the budget other buyers had for similar properties. This can be calls or emails from buyers who provide a database for buyers to access.