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Are Estate Agents usually correct?

We were basing our asking price on a mortgage valuation and Zoopla valuation but Estate agent said we have overestimated by £10,000.

Asked on Nov 17 2013, Selling in Bellshill | Report content

Answers (4)

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  • Estate agents are not always correct, and their valuation is just their opinion, albeit an experienced opinion. The only true valuation is RICS valuation.

    Web reference: http://www.bestpricespaid.co.uk/blog/online-property-valu...

    Answered on Nov 18 2013, Report content
  • Estate Agents use various methods in order to arrive at a valuation price. What we must bear in mind is that agents are not surveyors, and the price they give you is not really a valuation but a recommended marketing price. Realistically, a property is only worth what someone is prepared to pay for it. A surveyor is then paid to value it accurately and ensure your buyer is paying the right amount. Zoopla valuations are only accurate to the info inputted and are not an accurate representation. Agents will advise you of the buyers they have looking, and will also know the market much better and what is selling. My advice, get more than one agent to value it for you... that way you will have a better idea of where your price sits. Hope this helps

    Answered on Nov 22 2013, Report content
  • No

    Answered on Jan 15 2014, Report content
  • Depends on what your goal is? if you are happy to wait and let it sit on the market, then estate agents are for you. If you want a quick sale then there are other avenues you can explore. Depends on your motivation really as well as the estate agents.

    Answered on Jan 31 2014, Report content

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