WHAT IS AN ESTATE AGENTS VALUE?

One of the most common questions we are currently being asked as more and more people instruct us to sell their property is 'Why don't you do a valuation?'

Having been a valuer for some ten years of my sixteen in agency, the last seven at least have been dominated by data available to us for free. It's simple really. At the risk of blowing the lid off traditional estate agency skills, how do you think they value? You guessed it, they use the internet. Whether you like it or not anyone with access to the internet can find out the price of a home in your road and even how much you paid for it yourselves. Most of the big property portals have a 'back end' agents only access area, which we can all access. If your have been trying to sell your home at any point in the last say, ten years we can find out just by entering the postcode. Up will come the price you were trying, what agent you were with and how long it was on the market.

When you book a valuation with an estate agent, one of the first questions asked is 'How much do you think it's worth?' That's just to find out if your thoughts are in line with the data available to them.

When the agent arrives from 'X and Co' arrives with trusty clipboard in hand, what is he or she looking to achieve? The answer is just to sign you up to their company. They may have a look around first, probably presumptuously doing brief room sizes and pretending that the white bathroom suite alters your value whilst paying the odd compliment here and there. I tell you now, it's all for show. They had the value ready at their morning meeting that day, simple as that. The reason for measuring the rooms is to try an assumptive close later in the meeting, something like '....Oh well I've prepared the details already, all I need to do is take some photos and we're ready to go. Your happy with what I've said, just sign here, there's no need to have another agent round.'

To prove the point though, the ace up my sleeve is this. What happens in the majority of cases when a sale has been agreed.......?

A survey/valuation.

This is carried out by a surveyor who has the final say in what your property is worth and whether the bank/building society should lend that amount on it. Does he have a local office? Has he ever sold a house in your road before? Probably not. Where does the person that decides if your house sale goes through or not get his price?.....You guessed it again.... the internet.

Cut out the wasted hours listening to preconceived sales pitches and tell us what you want to get for your home, we'll check how realistic it is and offer you our advice and then we'll sell it for you. Simple really.