The two most important questions to ask your estate agent
When you consider selling your home, you’ll begin the process of selecting your estate agent by checking their Google reviews and asking friends and neighbours for recommendations. You’ll pour over Rightmove and Zoopla. You’ll then make your shortlist and begin the interview process. You’ll have many questions but here are two you should always ask:
What percentage of the properties you listed in 2018 were reduced in price?
and
What was your average price reduction?
Chiswick sellers continue to be hammered with significant price reductions as a result of ill-advised overvaluing by our competitors. We valued a property this week which has been reduced by the seller’s current W4 agent by a staggering 25%. Chiswick Sales Director Paul Cooney notes, “We have access to invaluable statistics courtesy of Rightmove so we can see exactly what is happening with asking prices. In September, we sold a beautiful family home in a prime residential road just off of Chiswick High Road to a cash buyer after just three weeks of marketing. Another agent listed a similar house in the same street which has lingered on the market for 4 months and been reduced by over 17%. It is still for sale! Empirical research conducted by independent watchdog Which? categorically demonstrates the damaging effect the practice of overvaluing has on the final price achieved for your home. Poor advice on the price of your property can have a five or six figure impact on your bottom line.” Associate Director James Liggins adds, “The average high street agent in Chiswick reduced the asking prices of one in two properties they listed in 2018. The worst offender, who we won’t name, reduced the asking prices of 64% of their properties. Overvaluing has shambolic consequences for the seller: their homes end up selling for less than their true value.”
Paul advises, “When you are considering selling, always ask your agent about their record on price reductions. What percentage of their listings did they reduce in 2018 and by what an average of what percentage? In 2018 we reduced just over a quarter of the properties we listed by an average of just 6.8%. These small and sensible tweaks in price resulted in fresh interest and sales agreed; we’re incredibly proud of our record. Estate agency is full of dubious characters who will say just about anything to list your property only to hammer you for price reduction after price reduction until your home finally sells – for significantly less than its real value. For us, honesty, integrity and achieving the very best result for our clients are paramount. Overvaluing is a practice we will never employ here at Horton and Garton. The combination of keeping our clients’ requirements at the heart of each transaction with precision pricing means we’ve been able to achieve fantastic results across the board. For an experienced, professional and honest approach to your property, we’re at your service.”
“Paul is someone who I have and will continue to recommend to friends, something I rarely do. He is an extremely hard working individual and his passion for Chiswick property clearly comes through.” -Glebe Estate seller
“Paul did an amazing job helping me to sell my Chiswick flat in a tough market. He’s a fantastic agent!” -Bedford Park borders seller
“Paul is certainly the best agent in Chiswick and, very probably, in London. He offers a service that is both professional and personal and gets results. He’s streets ahead of the competition.” -Chiswick Park seller
