I have done a lot of research, and I have collected and analysed all the Barbican sale prices since 1999. What I find most striking about the resulting charts isn't how prices have gone up or down over time, it's how much sale prices of identical flats, selling at the same time, can diverge - by anything up to £100,000 in the case of larger flats. You can see how sale prices scatter above and below the average trend line. So, how do you make sure you get the best possible sale price?
It's very straightforward really. You have to choose the right estate agents. The wrong estate agents can unwittingly do you out of the best price, and you won't even know it, because they don't even know it, because they're not experts on the intricasies of Barbican valuations. It's easy to quote an approximate figure to within the nearest £50,000. It's not so easy to quote to the nearest £5,000. For that, you really have to know exactly what factors add value to a Barbican flat, and how much.
Unfortunately, in my experience, you can't automatically go with the agent who quotes the highest price. Some agents do that just to get properties on their books. Some just get it wrong. Either way, four weeks later you'll be told the market has dipped and you must lower your price by a huge amount. Big price drops tell potential buyers there's something wrong with your property. Conversely, you have to beware of the agents who insist on a low price at the start so they can get a quick sale. A quick sale is an easy sale. The percentage commission on a lousy price is not far short of the commission on the price you should have got for your main investment in life. There is simply no substitute for an agent who gets it right.
If you can't simply go with the estate agent who quotes the highest, how do you choose? To start with, get quotes from more than one agent, and judge how much they know. If you want to know which agents to consult, I don't think you can go far wrong by consulting these agents who deal regularly in Barbican flats.Click anywhere in an agent's details for more information.
|Scott City Residential
020 7600 0026
122 Newgate Street, EC1A 7AA
020 7717 5293
15 Queen Street City, EC4N 1TX
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