How does an estate agent value a property?

Get to know how your expert estate agent will value your home

Did you know that properties are twice as likely to sell if priced right the first time? That’s why getting a valuation from an expert is vital.*

Getting the asking price right is one of the most important steps in the sales process - but it’s one that is often overlooked. In order to set the right market value, you need specific local area knowledge, an understanding of the conditions surrounding the market and insight into the minds of your buyers.

When you decide to work with an agent, it is because you trust that they have the knowledge and experience to deliver on each of these factors. Here we’ll discuss how your agent will reach that all-important number.

Understanding where you live

A good estate agent should have a deep understanding of the local property market. Before setting foot in your home, they will take the time to gain a base understanding of the marketplace. This involves researching how much similar homes in the area have recently sold for and considering the current buyer demand. An agent will also take the time to understand what's on offer in terms of schools, shops, transport links and anything else that might contribute to marketing your home successfully. 

Getting to know your home

The next step is to get to know your home and what could make it appeal to sellers. During a walk-through appointment, the agent will be taking notes, including accurate measurements.

No two properties are the same so this is a great opportunity for you to tell them what makes your home special. Your experience of having lived there for an extended period is invaluable in offering insight that an agent wouldn’t be aware of. 

Does the kitchen catch the sunlight in the morning? Are there any great views from an upstairs window? This type of subtle charm can make a home much more attractive to buyers. 

This is also a good opportunity to discuss any quick fixes that could be made to boost the value of the property. Fixing a broken gate or painting a hallway could completely change the atmosphere at a viewing and help you create a great impression. It is surprising how large a difference some small changes can make.  

Prepare for seller questions

A seller is going to want to know certain things about your home so it is important to prepare adequate answers during the valuation. Make a note of the following;  

  • How old are the doors and windows?
  • Does the boiler function properly? 
  • Is the property a leasehold? If so, who owns the lease and for how long? 
  • Are there any structural issues with the property? 

When will I find out the value?

Once all of the necessary information has been collected you will be provided with a valuation. If you are confused in any way about how they have come to the amount, feel free to ask questions about the process. And, please share any ideas that you have about marketing your home to sellers. After all, we’re here to serve your needs and get you the best possible deal for your home. 

Shortly after the valuation, you’ll receive a written report which will explain the details and guide you towards the next steps of your seller journey. If you’d like to book a valuation, or to know more about the process, contact us today.

Get a valuation on your home

Arrange for one of our experienced agents to come to you for a free, no-obligation valuation of your home.