One of the first and 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 calculated correctly. If an inaccurate valuation is completed and it’s reflected in the asking price, this could potentially put potential buyers off or not help you to achieve the true value of your home.
First impressions count so its important to come to the market with an accurate, fair representation of your home’s value in the asking price.
Further, knowing your home's true value can provide you with a clearer budget for your next property search including helping to identify any current equity within your property if you were to sell.
How does an expert agent value your property?
Our expert agents will use their own experience and knowledge of the local market, along with a number of physical components, to determine the value of a property. These include:
- Location
- Layout
- Size
- Condition
- Unique features
For example location; this determines the local amenities, schools, opportunities, and transport links the property could provide. Or size, two properties on the same street might differ significantly in square footage and as such will likely present a different value.
When valuing a property, agents use the price of comparable homes that have sold in that area to also understand what potential buyers might be willing to pay, considering the local supply and demand.
Of course its not an exact science and you don’t have to state an exact price, this is where agents can use price qualifiers such as ‘offers in excess of’ or ‘asking price’ to help inform potential buyers of the parameters of the value.
How do you decide which agent to go with?
Choosing the right agent can be a daunting process, as your home might be most valuable asset.
It's not always wise to choose an agent based on how much they value your home for, its easy to think that the highest price is best but it does not mean its achievable.
Having a good relationship with your chosen agent is essential, 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. You want a team, such as Durden and Hunt, who will negotiate on your behalf to help achieve the absolute best possible price for the property.
Durden and Hunt offer support from your first, free, no obligation home valuation all the way through the sale process, including the search for your next home.
