An Estate agent does not value your property.

The specify an asking price which is simply an estimation. A surveyor is a qualified professional who can officially value properties. Never accept an agent's estimation at face value.

Why do estate agents give me conflicting estimations for my property?
The old adage of ask three agents get three different prices often rings true. The price a particular agent gibves is determined by two factors:
  • Knowledge and Experience of selling similar houses in your area. That aside, they may have previously over or under-priced houses, so their sales record is not necessarily related to wheter they got the price "right".
  • Their sales objectives. Estate agents are in business and their aim, like most other businesses, is to maximise their profits.
    Many agents will tell you a price that far exceeds your expectations, so that you will be suitably impressed by their confidence to appoint them over their competitor. In some cases, homeowners report that several weeks later, after no inquiries, the agent suggests dropping your price. If you feel their estimate is too low, it might be bacuse they want to make a quick sale so they receive their commission faster, as cash is king.
    The most important thing to remember is that estate agents, at the end of the day, are salesmen.
Your house is worth what someone is prepared to pay for
No matter what an estate agent tells you, your property will ultimately sell for the amount someone is prepared to pay for it. That amount is affected by numerous factors, but most importantly the value that the buyers places on the property, especially the features which are important to them.
You can increase the price people are prepared to pay with very little effort.

You, not your estate agent, ultimately accepts or rejects an offer
Whether you sell through an agent or by using internet, you still make the final decision.
From the outset, it is important to set two figures in your mind:
- The lowest price you are willing to accept.
- The ideal price you would like to achieve.

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