Monday, 17 February 2014

Property Questions: My estate agent never took my £10,000 wet room into consideration during my valuation. Why?

Your Property Questions Answered

As an agent we look forward to your questions, it gives us the opportunity to showcase our talents and demonstrate our passion.  Each house is unique, each client is unique and each estate agent is unique.  So, let’s explore them.


An estate agent has valued my house but not taken my £10,000 wet room into consideration. Why?


This is a rather common question and I rather like it.

However, this particular question and its many variations are a great way to get a real feel for your estate agent.  It can also open up communication barrier between the agent and the client, which is extremely important.  If an agent cannot demonstrate to you why, they may not be the agent best suited to you. 

What this vendor actually does have now is a USP (or unique selling point).  They have something that differentiates them from the commodity of houses in the local area.

Unfortunately a wet room is still a bathroom and fundamentally is the one thing that every other house on the street/area will have, the only difference between them all will be the style, this house included.

The availability of wet rooms is limited, if existent at all in the sellers local area.  So this seller has something to really boast about.

So, think of yourself as a buyer. Do a buyer search on Rightmove or Zoopla, so that your house will show up in the results.  Check those above and those below.  Do they offer a Wet Room?  I highly doubt it.  So you now know that your property is offering better value for money than all those around it.

It now has an appeal that others don’t.  It is now less of a commodity and consequently has more value.   Things that have more value are more attractive, and your prospective buyers will know this as they will do that same search and they will see those same houses and then they will see yours. 

Similar price, better value for money.

This ultimately means that your house is more saleable.  It means your house will sell quicker, it means you can move faster without the risk of your house sitting on the market for long periods of time.

This is a fabulous extra.  Showcase it in your property particulars.  It is a feature, so make sure it appears on your list of features on the portals.

Be aware that opting to take the highest value and price too high, you will miss all the buyers from the search you just did.  Check the price bracket above yours.  Does your house really compete with these for space and location?  Probably not, which is why the estate agent gave you the current valuation.

If you chose to price to high, you risk sitting on the market for longer.  You risk the dreaded price reduction and you will ultimately not get the foot traffic through your door in the most saleable first few weeks.  This will inevitably, cost you more money, more mortgage payments, more bills for your current house, each one putting your future on hold and may mean that you end up settling for less than you were originally quoted anyway.

I would like to say well done, you have a fabulous reason to ensure you capture those crucial first viewers.  

If you are considering having work done, and the value of your house is important, check first whether undertaking this work will increase the value of your home to avoid this situation.  Investigation work of this kind is always advised prior to engaging in work to prevent unnecessary overspend with little or no return.

If you have any questions like this one, please ask your agent. 

A great agent will be able to give you clear reason why. 

A really great agent will be able to give you a clear reason and demonstrate this too.

And the best estate agent in the world, will do all the above and present your home beautifully with crystal clear photographs, a willingness to cooperate and a clear defined strategy to showcasing your house to its full potential.

We do this at VMOVE because our clients needs come first.  Always.

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