How does a valuation work?
Pricing a home takes into account a huge array of factors – things like the number of bedrooms, public transport links as well as wider market conditions. But buying a home isn’t a technical or scientific process – emotions often come into play. Things like whether the property overlooks a greenbelt or whether it has character or unique features.
Should you price above or below the valuation guide price?
The valuation gives an accurate estimate of what your property could sell for. At your expert valuation, you can ask the agent as many questions as you like. We would recommend setting a realistic price – although some sellers like to price above the valuation guide price. Thing is, the more realistic your price is, the more buyer interest you'll receive. More buyer interest means it’s then easier to negotiate the price up if you have a number of people interested.
Some expert advice to pricing and selling your home…
It’s your home. You’re attached to it and it holds so many emotional memories. Our advice is to distance yourself as much as possible so you can view the valuation of it with a clear head. Your local agent will always give you an honest, expert opinion and will always justify the price they give.
Good questions to think about when selling - and to ask at your expert valuation are:
'What's the highest price my house could sell for?'
And
'What price will generate the most interest in my house?'
Final thought
Well done for making it to the end. You’re now equipped with all you need to start your sales journey – and book that expert valuation. After your valuation, you can work with the agent and decide whether you're prepared to play a waiting game for a higher price or whether you’d like to sell quickly. Whatever you decide, it all starts with a valuation…