In short
An estate agent visits, looks round your home, asks a few questions, and then talks you through what it’s likely to sell for, how they’d market it, and what they charge. It usually takes around an hour, it’s free, and you’re under no obligation to sell or to use that agent.
A free valuation – also called a market appraisal – is the first step for most people thinking of selling. It’s also useful if you’re simply curious what your home is worth, or planning ahead.
Before the visit
You don’t need to spring-clean, but it helps to have a few things to hand:
- a list of any improvements you’ve made, and roughly when;
- anything unusual about the property – shared drives, rights of way, extensions, planning permissions;
- your plans and timescale: are you buying elsewhere, and do you need to sell first?
Think about the questions you want to ask, too.
During the visit
The agent will walk round inside and out, noting the size and layout of the rooms, the condition, the garden and parking, and the position and outlook. Expect questions about the heating, the age of the kitchen and bathroom, the tenure, and anything else a buyer would want to know.
Then you’ll sit down and talk it through. A good agent will explain:
- the price range they’d expect, and the evidence behind it – recent sales of similar homes nearby;
- their suggested strategy – the asking price, and the right time to go to market;
- how they’d market it – photography, floorplan, the portals and any extras;
- their fee and contract – what’s included, and the terms.
A valuation, not a survey
An estate agent’s valuation is about the price your home is likely to achieve on the open market. It isn’t a structural survey, and the agent won’t be lifting floorboards or testing the wiring. If you need a survey, that’s a job for a surveyor – usually arranged by the buyer.
After the visit
A good agent will confirm their valuation in writing, and then leave you to think about it. There should be no pressure, and no obligation.
It’s sensible to see two or three agents before deciding. Compare their reasoning and evidence, not just their figures.
From experience
We always try to be honest and realistic about price – even when it’s not what someone hoped to hear. It’s far better to know the realistic figure at the start than to find out months later.
How much does it cost?
Nothing. Estate agents’ market appraisals are free. (A formal valuation for a mortgage lender, or by a RICS surveyor, is different and is usually charged for.)
Can I have a valuation if I’m not ready to sell?
Of course. Many people have a valuation a year or more before they sell, to plan their next move. We’re happy to help – with no obligation, and no sales pitch.