What was your difference between valuation range and sale price?

jordanjim

We're just about to put our 3-bed house on the market and have had a good laugh at the initial estate agent valuations, which vary to the amount of £100k! Obviously some are overvaluing to try and get the business but I'm now curious about other people's experiences.


What valuation range were you originally given by estate agents and what did your property actually sell for? If you went with an agent that had valued it higher, did it actually sell for a higher amount or did you have to drop the price to what the others would have marketed it at in the first place?

Paully232000

Had three valuations which all came in within a few £K of one another, and sold for 1% less than the asking price.

claireabelle_2

Mine was London in January of this year... I thought £330k, estate agent put it on for £350k guide, sold for £340k within two weeks, so 3%

LateStarter

I had 2 very similar quotes - agreed 2% below asking.

Some EAs will over-estimate to get the business, and after a few weeks will ask you to drop the price. Others will go low, as this will assure them a quick sale and keep the cash flowing.

jimpix12

I wouldn't rely solely on estate agent valuations but rather trust your own instincts. Spend a few hours on the Land Registry and Rightmove. All the agents I had in said they didn't view LR data. Go figure.

The EA valuations I had varied by almost £100k to. I sold dead in the middle which is where I expected.

TBeckett100

I had three agents out last week and I said to them, I don't want pie in the sky values and I want a price that will get people in the door. I believed that if I undervalued it, the offers would reflect it, i.e. a surge in offers over the asking. We agreed a price (10-15k below estimates) and put it on the market. Had viewings next day (7) of which more than half made offers at or just below asking. So I felt it was priced correctly unlike other properties around my way.

I certainly want to give my buyer good value in their purchase and want them to feel happy with it with enough in it for me to do what I want.

casper_g

We sold our house late last year, finally completing a fortnight before Christmas.

Three valuations were all in vaguely the same ballpark, plus or minus a couple of percent. We thought they were on the low side, based on comparable nearby asking prices and a neighbour's recent sale price, so against the advice of the agents we went for an asking price ~2% above the top valuation.

A fortnight later we'd had six offers, including three above the asking price, and sold to a first time buyer for 5% above the top valuation.

ellie27

I am in Scotland were 'offers over' tends to be the norm.

3 estate agents recommended offers over x.

I did not use either of the estate agents and instead used an online agent and sold for 1% over the x. 2.5% below home report valuation.

I did also save myself 1% in estate agents selling fees too!

Newly_retired

Valued by two estate agents at price A.
Two months later, with prices rising, and after some renovations costing £1000, we put it on the market for price A + £18k
Three months later, it was sold for a price A plus £12k. Everyone happy.

Annie1960

I had valuations last year that varied by £100,000. The top one was from a well-known national chain who always over-value, knowing they will then ask you to drop the price.

I went with the middle one, and got £10k over asking price, which was more than I thought the house was worth going by other sold prices in the area.

As an aside, when looking for a property I viewed a number on the market with the national chain. None of these properties sold (all over priced). Buyers are not foolish, and will not pay over-inflated prices that are designed to flatter the vendor. These EAs often have long contracts, too, so they are difficult to get out of.

Beancounter

I was given a valuation of £225-230K by 2 different agents and I sold for £249K:beer: