discrepancy of selling price (between 2 estate agencies)

Ignite

I think a lot of the issues depend on the agents. There are some of the well known agents out there that have a high staff turnover, and agents are pushed very hard on commision. You then get the other ones who have been in the game for a long time, and have a lot of experience. I would look at what what sort of agent you have a valuation from before deciding which is the more acurate.

Of course, it is worth remembering that until recently (and it may still be the case), pretty much anybody could set up an agency with little or no real experience!!!

As somebody else said, take a look at what other properties in your area are selling (or have sold) for and this will give you a guide. Are there any other properties locally on the market similar to yours that you could have a look round to get a comparison with?

sarah_elton

Did you ask them what price they'd be trying to achieve?

I had three valuations. All said to put it on the market at £114,995. I asked what we'd sell for - two said £100-105k, one said £105-110k. I'm selling for £103,500.

Maybe they're not so far apart in terms of what they think you'll likely get. Might just be that the one with the higher valuation is hoping someone will fall in love with it and pay a bit more.

BTW if one of them was Bairstow Eves, they're shocking in my area and always value high to get sellers on their books. My brother was an EA (pre downturn). Towards the end of the boom, he went to do a valuation for someone who swore their flat was worth £180k, even though nothing else in the specific area of town had ever sold for more than £120k. He was basing his idea on what newbuilds were advertised at. My brother refused to market his property saying it would be a waste of time. Bairstows put it on for close to the £180k. It never sold.

Get a third valuation. If you do go on at the high end of your valuation range, talk down the EA's minimum sole agency contract period to 6 weeks if you can. That way, you can take a punt at the higher value and see if you get any interest, but you're not tied in for long. Only downside is then if potential buyers watch your property dropping in price on Rightmove.