However what if i told you that at Broadlands we have processes in place to make sure that the valuation we give you is realistic and not a figure seemingly out of nowhere. We can do this due to a large team and a high turnover of property sales to keep our figures relevant. Below is what we do before coming to a valuation and how we reach the figure once we have decided.
Step One – Research
When you contact Broadlands for a valuation the first thing the negotiator will do is look through our sales history to see what we have had for sale, that is either in the estate/block/close or that is a direct comparable to what they will be visiting. They will also ask other negotiators if they have visited similar properties recently and ask their opinion.
Step Two – Google Maps
The negotiator will then look on google maps in order to see the properties location and also the surrounding area. This is an amazing tool as an informed agent that hasn’t turned up cold will have a better idea going into the property. It also means they will not get lost looking for your property.
Step Three – Jersey Property Bulletin
This is a very good way to find out the recent sale of properties in the area if Broadlands have not been directly involved. The bulletin shows every freehold and flying freehold sale in the past 10 years. Unfortunately this does not account for share transfer sales.
Step Four – Visit The Property
When the negotiator walks through your door they will already have a good idea of what price bracket the house is in. Now they will have a look around and get a feel for the property and mentally compare it to what they have seen and more importantly what they have sold recently. The reason for this is that each property is different and even if you live in an estate of apartment block the values may differ due to many factors such as condition, layout, even the way the garden faces. They may even ask to take photos. Which brings me onto the last stage:
Stage Five – Value
Now this differs from property to property. Depending on the nature of the property the agent may either give you an on the spot valuation or ask to call you back later as they would like to consult with other negotiators in the office. This is not them having no idea but more to be sure that they are correct with the value so that you are not receiving an incorrect valuation. At this time you can request comparable properties from the agent in order to back up their valuation.