How do estate agents decide on a value for your home?
Ever wondered how estate agents come up with that “magic number” for your home? Is it science, guesswork… or just pulling a figure out of a hat?
Truth is, there is a process — and yes, you can trust it (well, at least if you’re working with someone who knows their stuff!). For most people, their home is their biggest financial asset, so getting the price right really matters. And we take that responsibility seriously.
So, how do we actually value a home?
We don’t rely on a crystal ball or a dartboard. Instead, we use a mix of solid data and years of local knowledge. We look at current market trends, previous sales (including many we’ve handled ourselves), wider market info like house price indexes, and crucially, the demand we’re seeing for homes like yours right now.
Knowing the local market inside out is key. Things like what’s selling, what’s sticking, how many buyers are circling, and what’s happening just down the road can all impact your home’s value.
And of course, we look at your home — its location, size, layout, condition, and all those features that make it special. Homes in popular areas tend to carry a higher price tag, and the number of bedrooms, bathrooms, storage space, and even how the rooms flow all play a part. The general condition, whether it’s move-in ready or could use a bit of TLC, also makes a difference.
Once we’ve done all the groundwork, we’ll give you a carefully considered figure, along with the reasons behind it and any recommendations we have. No charge. No pressure. Just honest, trusted advice.
This is one of the biggest financial decisions you’ll ever make, so choosing the right agent matters. You need someone you can trust.
With 125 years under our belt, we’ve built a reputation for being exactly that. And for homes that are a little out of the ordinary, we’ve got our in-house RICS surveyors and property professionals to offer the kind of full service many agents simply can’t.
Disclaimer: This article should not be relied upon or regarded as a substitute for advice. Please check with a member of our estate agency team for the most current figures and changes.
