Behind the scenes of an expert agent valuation
One of the most important components when selling your home is the expert agent valuation.
It will inform you of your property’s value and a potential asking price you could set when placing your property on the market.
In this article, we discuss how your property is viewed and valued in a home valuation, allowing you to gain a better understanding of how an expert agent determines your home’s overall value.
Is a home valuation important?
Home valuations can affect the entire selling journey of your property, so you need to ensure they are achieved correctly. If an inaccurate valuation is completed and it’s reflected in the asking price, this could delay the sale.
The first ten days of your property on the market are the most important, as it will receive the most interest during this time. So, with this in mind, it’s crucial to ensure you have an accurate, fair representation of your home’s value in the asking price.
Knowing your home’s true value can provide you with a clear budget for searching for your next home, as well as allowing you to identify the current equity within your property if you were to sell.
How does an expert agent value your property?
The expert agent will use their own experience and knowledge of the local market, along with five main physical components, to determine the value of a property.
- Location
- Layout Size
- The property’s condition
- Unique features
Ultimately, the interior and exterior of your home plays a huge part. If you have a beautiful, private home with incredible characteristics and uniqueness, its value will be higher than that of an average neutral-looking home that is the same size and location.
Another huge factor is location; this determines the local amenities, schools, opportunities, and jobs the property could provide, adding value.
When valuing a property, agents use the price of comparable homes that have sold in that area as their main guide. This allows agents to identify what potential buyers are willing to pay, helping to understand the local supply and demand for property.
A combination of various factors, including your personal circumstances and the current state of the surrounding property market, will determine the value of your home.
How do you decide which agent to go with?
Choosing the right agent can be a daunting process, as your home is your most valuable asset, so shop around and speak to a variety of agents. Never choose an agent based on how much they value your home, as some agents will quote you a slightly higher value than they believe simply to get your business.
It’s critical to have a connection with your chosen agent, as you will spend a lot of time with them, and you want to make sure they love and respect your property as much as you do. Trust your gut, don’t rush, and ensure you like the agent you will be working with. By working with us, we can offer support from your first home valuation all the way to exchanging contracts and discovering your next dream home.
Book a free, in-person valuation today and allow us to support you throughout your entire selling journey
This article was originally published by BriefYourMarket and is reproduced here with their permission.
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