Are EAs still 'valuing' properties to sell below asking?

TDPIX

Before the pandemic, many EAs seemed to 'value' properties by saying things like:

"We would list your home for sale at £200,000 and hope to achieve in the region of £180,000-£195,000"

However recently many EAs we've spoken to seem to just expect at or above asking offers.

So whilst I know that this will vary EA to EA, I was wondering whether EAs are still valuing properties expecting a below-asking sale, or if they are telling vendors to expect at least asking nowadays?

anselld

Probably depends if you are asking as a vendor or a buyer.

TDPIX

anselld said:

Probably depends if you are asking as a vendor or a buyer.

I'm asking as a buyer But either way, I'm curious whether EAs still tell vendors that they expect to ultimately sell for a bit under asking.

anselld

Whatever the EA may say, no sane vendor is going to list a property at a price below what they are willing to accept.

Thrugelmir

TDPIX said:

anselld said:

Probably depends if you are asking as a vendor or a buyer.

I'm asking as a buyer But either way, I'm curious whether EAs still tell vendors that they expect to ultimately sell for a bit under asking.

Valuing a property is an imprecise science.  The EA is being paid to achieve the best possible selling price for the vendor. Easier to reduce a price that a property is marketed at than subsequently raise it. 

Crashy_Time

In many cases it will be what the bank says that counts, not the EA/Seller.

NQManchester

anselld said:

Whatever the EA may say, no sane vendor is going to list a property at a price below what they are willing to accept.

It depends on the market. We listed 5k under the value and then got £27k over asking. The agents here purposefully list under value to get a bidding war. Annoying as a buyer though. 

RelievedSheff

I think it depends where you are based.

EA's in Sheffield for example have a habit of listing below market value with the intention of generating interest and getting multiple bids over the asking price.

steampowered

If you ask an EA what sort of offer they would like, of course they are going to say "asking price or above".

Nothing to stop you putting in an offer below asking and see what happens. Worst case scenario it gets rejected.

lookstraightahead

Mostly it's a guess. Or what the vendor wants to hear.

The true value is what the buyer is willing / can actually afford to pay, coupled with the valuation.

Everything else is noise, especially noisy is what the vendor thinks it's worth.