How does an estate agent value your property?

A property valuation from an estate agent helps you decide the all important sale price with which to market the property. But how does an estate agent get to that sale price? And how do they ensure that their valuation is fair, accurate and reflective of the current market?

E-sale share with us their experience of pricing and valuing properties to help you get a better idea of what your home is worth.

Fairly pricing a property

It is a little known fact that when a local estate agent visits your home to carry out a valuation, 9 times out of 10 they have a very clear idea of your property’s value before they’ve even set foot through the door. So what amount of consideration and research is undertaken to establish a property’s value and how do estate agents go about this?

Reliable sources

One of the main sources of information an estate agent will use to fairly value your property is market comparables. For example: what has been sold on that street? For what value? And, how similar are they compared to yours?

With enough research, it is possible for anyone to ascertain what properties have previously sold for in any given area. But, estate agents both online and local, have access to more in-depth information. This is through their subscriptions with marketing platforms such as Rightmove, On the Market and Zoopla.

Additional information is then gathered from other reputable data partners. Such as, the Land Registry, to establish an overall idea of general property value for any one property type in any specific area.

With the more generalised research done, estate agents must then consider the individual property in question and the variables that could impact on its specific market value…

Variables taken into account when valuing a specific property:

There are a number of variables that an estate agent takes into account when assessing the value of your property:

• Property features (detached/ number of rooms/ bathrooms/ garden / parking)
• Tenure (leasehold/ freehold)
• Details about the property (plot size, flood risk, conservation area, council tax band) 
• Neighbourhood details (schools, parks/ green spaces, proximity to public transport etc.)
• Condition of the property
• Mobile & broadband coverage

If you are thinking about selling your home, preparing your home is important. It will not only ensure your property sells faster but for a higher sale price. Here are our top tips for making your home more valuable and sell faster.

Online property valuations

As online estate agent services have been rapidly growing in popularity, so have online property valuations.

With the assistance of advancing technology and better access to a broader range of reliable data sources, an online property valuation allows customers to achieve a fair, informative and accurate valuation of their property, without the need for an estate agent to visit their home.

Interactive Valuation Reports

One such online estate agent, Esale, has recently introduced Interactive Valuation Reports. Since being introduced in 2021, they have grown significantly in popularity with their customers in the UK.

Tailored to the individual property, these reports are accurate and reliable. Information is gathered from reputable data partners including the Land Registry, Historic England, Environment Agency, Ofcom, Valuation Office Agency, Ordnance Survey, Royal Mail, Ofsted and Google.

These interactive market appraisal reports include everything from a local map and property photos to other properties sold on the street, house price statistics and planning history. The reports are available via an online link that can be kept for reference and accessed at any time. Esale provides its bespoke valuation reports for free.

David – Esale Managing Director said, “I have always been a great lover of data and have always wanted to know why – why has my property been valued this way, and how has that conclusion been reached? These reports provide exactly that in clear, broken down detail, and it is for this reason that I would highly recommend them”

How to get an Interactive Valuation Report

Accessing an Esale interactive online valuation report is easy. Just visit Esale’s website and fill in a few simple questions about your property. This is not an automated system; David personally prepares the property valuation report, aiming to email it to you within 24 hours.  

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