An Essex estate agent has urged colleagues to resist the temptation to overvalue homes in order to win instructions, arguing that the tactic often leads to longer selling times and repeated price reductions.
Jamie Carr, director and community engagement officer at Accord Sales & Lettings in Romford, shared his views on social media, describing inflated valuations as one of the most common mistakes he continues to see in his local market – a trend he believes many agents across the country will recognise.
Carr said it can be tempting to tell sellers what they want to hear, particularly in a competitive market, but warned that asking prices not supported by market evidence rarely benefit either the client or the agent.
He noted that buyers are now better informed than ever, with access to sold price data, comparable listings and market information that quickly exposes overpriced properties.
According to Carr, the result is often fewer enquiries, reduced viewing numbers, longer periods on the market and, ultimately, price reductions.
Instead, he argues that pricing a property realistically from the outset gives sellers the best opportunity to generate competition, attract genuine buyers and achieve the strongest possible outcome.
Carr added that while honest, evidence-based advice may not win every instruction, it helps build trust, protects an agent’s reputation and delivers better long-term results for both agents and their clients.
Comments (5)
Well done Jamie, an extraordinary conclusion from someone with his finger on the pulse of the residential sales market. Who could have imagined (at any time in history) that by setting an unrealistically ambitious price, the property might take longer to sell ? Accord Sales & Lettings must be so proud to have such a perceptive community engagement officer on their staff.
Sadly our dysfunctional resale market relies on the greed of would-be sellers (ever present) and the modus operandi of corporate agents building stock levels at any price to deliver more opportunities for their referral fee income streams. Independent agents can normally identify potential customers not willing to accept such BS, or be there when it hits the fan, months later when they see reason, usually and sadly at the cost of lost opportunities and wasted time.
What is a Community Engagement Officer I’m plain English?
A council job for an imbecile LOL
He is an estate agent, apparently, not a council employee.
Clicking the link I thought the answer was lie and it was, that’s why the industry has a bad name.