Estate agents and valuations

noddynoo

How do you know who is right?We have had 3 and they vary by 90k!!!Driving me mad tbh and don't know how to decide.They all say ours is a unique property so no comparables

rjm2k1

Take the average? If you are in no rush to sell, take the highest and work down? Look at the closest comparables you can find and add/take away extra value depending on what makes yours unique? It's down to what someone will pay and how soon you need to sell in the end.

silvercar

you can always reduce a price! I guess it depends how desparate you are to sell.

If you have a unique property it is important to go with an agent who will market the property widely, including online portals like rightmove and primelocation.

noddynoo

It is the bulk of a 3 storey victorian terrace.There is a small 1 bed flat in basement.We have our own big entrance and hall and then all the house plus gardens.The houses sell for 600-650k depending on condition.The flat is worth 150 max.We own the freehold of the whole building.All original features and we have renovated the whole thing but valuations varying up to 100k not 90 like I first thought.We are in no rush to sell just want to get rid of mortgage and debts and buy somewhere cheaper.

SAP_Saver

try https://www.rightmove.co.uk and go to the tab sold prices at the top - you can put in your post code and see what local houses have sold for. This info comes from the HM Land Registry so can not be fake. Once you know what similar homes sell for you may be able to guage where in that 100k range you should market your property.

noddynoo

There are no maisonettes of this size in the road only houses divided into 3 or 4 flats not like ours which is one big maisonette and one small flat.This is the problem i think.The houses are 600k+ and the small flats are about 150-170

AndrewSmith

You could use this situation very much to your advantage.

Consider this,

As your propery is 'unique' in your local area none of the agents are able to offer comparable evidence to substantiate their own 'sale price'. What you should do is use this fact to negotiate with an agent that you will market the property with them on a trial basis to ascertain it's market value level. Basically this will involve marketing at a price indicative of the higher end of the valuations you have received. Give it couple of weeks, if there is not interest reduce the price, freshen and change the photo's and details and try again.

Valuations and property value are only ever a matter of opinion anyway, and a property is only ever worth what someone will pay for it. Doing this you will find that the property will find it's correct level, and will be indicated by the point at which you begin to get interest and viewings.

Also as the agent cannot substantiate their valuation you should be able to negotiate a very short tie in or none at all. If they won't play ball, tell them that you will use another agent.

Hope this helps

Andy

noddynoo

Thanks Andy The agent with the higher valuation has offered us that sort of option To try at one price for 2 weeks with max marketing and then a further 2 weeks at a price slightly lower then we are free to walk!They have also offered us 1% fee so think maybe that is the way to go Thanks