Before a home goes on the market, an agent or valuer suggests a price. Understanding how they arrived at it helps sellers set realistic expectations and helps buyers judge a listing.
Comparable sales
The core of most valuations is recent sales of similar properties nearby. Ask which comparables were used and how they differ from your property in size, condition and position.
What the property itself brings
- Location within the town and distance to the sea or centre
- Size, layout and outdoor space
- Condition and age of the building
- Views, orientation and parking
- Whether a separate title deed has been issued
Agent opinion and formal valuation
An agent’s market appraisal is an opinion on achievable price. A formal valuation by a registered valuer is a more detailed report, often required by lenders.
Ask for the reasoning in writing
A clear written explanation lets you compare agents on substance rather than on who suggests the highest number.