When a person decides to sell their home, chances are they have looked at properties in their area which had been for sale. They may not dig very deep in their research. They may see the original sale price and then the sold sign and believe that that was the price the house sold for.
Another mistake may vendors make is that they compare a 4 bedroom home, to their 3 bedroom home with a small study and believe that theirs is also a 4 bedroom home. They forget the actual floor area of the homes.
When the vendor then goes on to contacting a real estate agent and discusses the expected price, they have an inflated idea of what their home is worth. These expectations make it very difficult for the agent as they want to sell your home but have to try and convince you that your valuation is often too high.
You, as a vendor, should strive to be informed at all times, however this means have the correct information. Bad information is as good as having no information at all. Get you agent to give you averages for your area for comparable properties. Find out the original price properties were offered for and what they actually sold for. This will give you far more useful information regarding your property and the price you can expect to obtain.
If an agent just agrees with you, offers no data or average prices it may be a good idea to find an agent who will.
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