Looking to sell? The first step is to determine the value of your home. You can hire a professional known as a “property valuer” or “estate agent” to provide you with an estimated value.
Here’s how the process generally works:
Contact an Estate Agent: Reach out to local estate agents or property valuers in your area. It’s a good idea to contact more than one agent to get a range of opinions on the value of your home.
Property Inspection: The estate agent will schedule a visit. During the visit, they will assess several factors that contribute to the value of your home. These factors include the property’s size, condition, location, features, layout, and any recent renovations or improvements.
Comparative Market Analysis (CMA): The estate agent will conduct a Comparative Market Analysis, also known as a CMA. They will look at recent sales of similar properties in your area. This helps them gauge how much they have sold for, which provides a baseline for estimating your property’s value.
Local Market Knowledge: Estate agents have a great understanding when it comes to local market trends, demand, and supply conditions. They look at economic factors, development in the area, schools, amenities, transportation, and other local influences that can affect property values.
Adjustments: The agent will make adjustments to the comparable properties’ prices based on the differences between those properties and yours. For instance, if your property has a newly renovated kitchen or larger garden, these features could justify a higher value.
Valuation Report: After collecting all the necessary information and analysing the market data, the estate agent will provide you with a valuation report. This report will include an estimated value range for your property. The range reflects the potential variation in market perception and the different factors affecting your property’s value.
Discussion: You can discuss the valuation report with the estate agent, ask questions, and understand the reasoning behind their assessment. Keep in mind that the agent’s goal is to provide you with an accurate estimate to help you make informed decisions about your property.
It’s important to note that the valuation provided by an estate agent is an opinion, and the actual selling price of your property might differ based on market conditions, negotiations with potential buyers, and other factors. If you’re getting a property valuation for specific purposes like selling, refinancing, or legal matters, you might want to consider getting multiple valuations or consulting with a chartered surveyor for a more formal and comprehensive assessment.
If you are looking to sell your home and would like a market appraisal, our expert team will be happy to assist.
Please complete our online form and one of our team will get in touch with you to make an arrangement that suits your schedule.
