EA valuation

lady1964

Hi,

this is a query rather than something I have an issue with.

We’ve had extensive work done to our house since buying it almost 5 years ago and are currently in the process of having a bit more work done and a bathroom to be replaced within the next few months.

With that in mind, is it ok to get an EA round to get an updated valuation of our house? We’re not planning on moving anytime soon, although I do keep an eye on what’s selling both in our location and a little further afield as we will look to future proof in the coming years.

If that’s an acceptable thing to do, how do I politely say we’re not planning on moving as I don’t want to be bombarded with calls and emails asking if we’ve decided to sell?

Many thanks.

user1977

Why do you want a valuation?

GDB2222

No, it’s obviously not right to waste the estate agent’s time. 

Yes, they offer free advice, but that’s with a view to getting business. It costs them money to employ someone to come round, and it’s not fair if you have no intention of selling. 

Hoenir

A browse on Rightmove of your local area will provide a constant guide as to the state of the market.   

eddddy

I've had EAs come and give me a valuation, even though they know I'm not intending to sell.

It's tended to be the 'older established independent local agents managed by their owner' - rather than the slick EA chains.

I asked one of them why they agreed to do it. Essentially, he said it was to 'let me get to know them' and to 'build up goodwill' - so that I would consider them, if/when I eventually decide to sell.

(I think there's also an element of gathering intelligence about the properties on their patch - or maybe just 'nosiness'. And/or not much going on in the office that week.)


Maybe you could start the conversation by saying you're not planning to sell at the moment, but you're keen to know what sort of price you could get, if you decided to. (Some EAs might refuse, others might agree.)

But underneath it all, they'll be doing a soft-sell of their services - so they might just say whatever they think you want to hear.

lady1964

user1977 said:

Why do you want a valuation?

To see if our house has risen in value both from the five years since we bought it and due to the extensive work we’ve had done and the bit more we’re planning to do.
If it’s relevant, it’s also for other financial reasons of future financial planning.

lady1964

Hoenir said:

A browse on Rightmove of your local area will provide a constant guide as to the state of the market.   

To be honest, there’s not much on RM comparable to our house in terms of what we’ve had done and what the house cost us five years ago. The street we live in is a mixture of properties and they rarely come up for sale. 
I really don’t want to waste anyone’s time, hence the question, that said, if our house is worth enough that we could move somewhere else that would be more expensive but that has amenities we don’t have where we currently live and we could remain mortgage free, then that would be something we’d consider. 

FlorayG

I would just be upfront with the EA, tell them you're thinking of moving in the next few years but not now, can they give you an idea of the increase in value of your house so that you know what you are looking for when you start to think of moving. They can only say no, and they can't say yes if you don't ask them

oystercatcher

When we bought the freehold of our current house we needed an estate agent valuation and paid a fee, it wasn't a huge amount £40 ? (was in year 2000) so maybe you could do it that way?

Bigphil1474

If you might move based on the price being right, then it's fair to ask a local EA to do a valuation. But if you just want to know what your house is worth, I wouldn't. Bear in mind the EA will give you a marketing price not an accurate valuation - they say the price they'd put it up for sale which is dependant on the market at the time.

It's worth having a look on Zoopla as they have some useful info you could use to work it out yourself, and a free valuation service. 

Elliott.T123

lady1964 said:

Hi,

this is a query rather than something I have an issue with.

We’ve had extensive work done to our house since buying it almost 5 years ago and are currently in the process of having a bit more work done and a bathroom to be replaced within the next few months.

With that in mind, is it ok to get an EA round to get an updated valuation of our house? We’re not planning on moving anytime soon, although I do keep an eye on what’s selling both in our location and a little further afield as we will look to future proof in the coming years.

If that’s an acceptable thing to do, how do I politely say we’re not planning on moving as I don’t want to be bombarded with calls and emails asking if we’ve decided to sell?

Many thanks.

Short version, you cant. No estate agent is going to come out to see you for free, do you a favour with nothing in it for them and then not follow up.

Anyone who comes out is going to add you to their mailing list and will call every few months and drop fliers round.

You either accept that or you pay a surveyor to give you a valuation, they wont follow up with marketing material.