Are my agents marketing prices right?

I’m on my soapbox this week folks with a subject that I need to really drive home. So if you happen to be a Landlord or in the market for selling sometime soon then please let me have your attention for a few moments. I want to talk about ‘marketing prices’ and how important it is to get this crucial aspect right from the onset of marketing. First of all let me say that when it comes to inviting agents in to value the property, be sensible ask amongst your friends, colleagues and families if they can recommend someone that they have used – and if you don’t have a recommendation available then turn to the ARLA (association for residential lettings) or the NAEA (national association of estate agents) for one of their members, that way you will be guaranteed that you are talking to a qualified professional in the field that is regulated. Once you have sourced an agent you can trust, then by all means ask them and another two agents to come value the property to get a good overview but only use the others just as a comparison and stick with the agent you know you can trust. Please remember that when an Agent – a professional in their field quotes a valuation price they are doing so with your best interest at heart. Remember our job as agents is for you the client to realise the best price achievable on your property and the more that we achieve for you the more we bank in fees, so despite some punters spin on it, it would never be to an agents advantage to value too low so if we think it’s worth 300pw for instance we will tell you that and maybe even suggest we try it slightly higher to achieve your ‘best price’. However and this is where I and every other agent I know in the industry has becomes frustrated, we  will always take into consideration your own thoughts and what you as the client need to realise price wise but if you toss a number across the table that is highly unachievable you need to listen to us! We are the experts; we know what is realistically achievable and what is not. Marketing at an unrealistic price will start you off on a very bad foot; we can do this for you if you want us to but at what price? We are in the business of successfully selling and renting properties on behalf of our clients within the minimum time frame that is what we aspire to. If you ask us despite our advice against it to market £50pw or £25k higher than the property is actually worth then this will only result in one thing, no interest, and few viewings and ultimately no sale or Let agreed. Buyers and tenants are savvy individuals and if they see something is overpriced they won’t even call when they can get something similar for less. Once your property has been on the market for a while even if you reduce it you are still at a disadvantage as it will have been around for ages by this time and viewers will naturally wonder why it hasn’t sold or rented yet. So please, listen to us – we are here to help you, to get the job done, convincing yourself that you are a property expert and know better than us will never be a smart idea.