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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

2 different valuations very different

22 replies

user1461609321 · 13/08/2020 18:54

In south London 2 bed maisonette with garden, both rooms of good size

I brought last April for £237, did some improvements but boiler now needs replacing but I want to move, otherwise property in good condition

First agent wants to market at £260-275 max, says otherwise not worth his time to put higher as we won't get asking price

Second agent willing to market at offers in region of £285 which is great and seems more enthusiastic

First experience of selling home

Anyone had experience of Barnard Marcus and streets ahead?

OP posts:
Findahouse21 · 13/08/2020 18:56

I don't think that 10 thousand between them is wildly different to be honest. Why not go for 280 and then reduce if no interest, unless you need to sell quickly. Or get a third opinion

Original poster
user1461609321 · 13/08/2020 18:56

Lease is with council and not expensive to renew, and as we need a bigger place which means more money obviously I am keen to sell for the most we can get but don't wanna sit for months on market with no sale

OP posts:
Original poster
user1461609321 · 13/08/2020 18:58

We don't really need to sell quickly but don't wish to also drag this out

OP posts:
JuniperFather · 13/08/2020 18:59

The valuations are not that different. And you've already stated the enthusiasm of the agent who offered the higher price. So what's there to debate here? What is your "AIBU"?

There's a whole property forum on here.

JuniperFather · 13/08/2020 19:00

@user1461609321

We don't really need to sell quickly but don't wish to also drag this out
So like most people then Hmm
Findahouse21 · 13/08/2020 19:01

You can reduce whenever you you like though. Honestly, if I was looking to buy and something was 10 or 15 thousand over what I thought it was worth, I would view with a view to putting in a lower offer. I really don't think it's that huge an amount in the grand scheme of hundreds of thousands of pounds.

HeddaGarbled · 13/08/2020 19:03

I’d get a third valuation.

Original poster
user1461609321 · 13/08/2020 19:03

That's true.., as I have never been in this position didn't want to 'price myself out of the market' as the first agent is implying

OP posts:
toastmeahotcrossbun · 13/08/2020 19:05

I agree with HeddaGarbled 3rd valuation and perhaps even 4th

Original poster
user1461609321 · 13/08/2020 19:06

I may consider this....

OP posts:
Wotsitsarecheesy · 13/08/2020 19:13

Definitely 3rd valuation. When I was selling my last house I had valuations of £270k, £285k and £345k. It was clear that the high offer was a totally unrealistic outlier so we went with the middle one.

Make sure you know who will do the viewings. The enthusiastic guy who signs you up isn't necessarily the guy who will show people round. We didnt realise this, and having signed up with the enthusiastic guy, the actual viewings were done by 'keyholders' who showed people round ok, but who didn't really speak much and certainly didn't attempt to 'sell' the house. It didn't sell. We took it off the market for a while, then put it back on with an agent who had really impressed us when she was showing us round properties as buyers. Sold it, for over the original price, within a week.

Illegitiminoncarborundum · 13/08/2020 19:39

Worked for Barnard Marcus for 4 years so can provide a bit of knowledge maybe if you tell me where you are!

AnnieMaul · 13/08/2020 19:41

When we sold our home last year we had valuations ranging from £375k to £450k. We knew the £450k one was way off, but it's not uncommon to have some variation.

I'd get a couple more valuations and see what they say. It's all well and good just putting it up at a higher value, but if it's overvalued and just sits on rightmove for a few weeks with little interest due to price, you'll have missed the "prime time" to attract viewings and sell as people actively looking to move tend to filter by newest listings first.

Crimblecrumble1990 · 13/08/2020 19:48

Agree with others that the valuations aren't that different. Don't forget the estate agents are on commission so it's in their interest to get the higher price, some chance it more than others.

doityourselfnow · 13/08/2020 20:14

Agree with others that the valuations aren't that different. Don't forget the estate agents are on commission so it's in their interest to get the higher price, some chance it more than others

Don't forget if they over price it and it doesn't sell and you change agent, they're commission is zero!

Original poster
user1461609321 · 13/08/2020 21:46

@AnnieMaul

When we sold our home last year we had valuations ranging from £375k to £450k. We knew the £450k one was way off, but it's not uncommon to have some variation.

I'd get a couple more valuations and see what they say. It's all well and good just putting it up at a higher value, but if it's overvalued and just sits on rightmove for a few weeks with little interest due to price, you'll have missed the "prime time" to attract viewings and sell as people actively looking to move tend to filter by newest listings first.

Wow 75k difference in terms of valuation ShockShockShock and I am here sweating over £10k!

Are you able to give a figure of what the property sold for in the end by way of comparison with top figure and real selling price?

OP posts:
Original poster
user1461609321 · 13/08/2020 21:47

@Illegitiminoncarborundum

Worked for Barnard Marcus for 4 years so can provide a bit of knowledge maybe if you tell me where you are!
We are in Croydon.... is this helpful?
OP posts:
GlummyMcGlummerson · 13/08/2020 21:48

£10k isn't wildly different.

I'm always a bit Confused on Location x 3 or HUTH when the valuations from the 2 different agents are £50k apart. Which one is it!!

Original poster
user1461609321 · 13/08/2020 21:50

@doityourselfnow

Agree with others that the valuations aren't that different. Don't forget the estate agents are on commission so it's in their interest to get the higher price, some chance it more than others

Don't forget if they over price it and it doesn't sell and you change agent, they're commission is zero!

If the agent takes pictures are we liable to pay them anything without a sale?
OP posts:
Illegitiminoncarborundum · 13/08/2020 21:58

Not the branch I worked in however still under the same area directors so a rough idea.
They are a decent agent, and won't massively over value and they are heavily heavily disgustingly heavily target based and so will want you on board and want to get a sale.
They also have very high viewing targets so should get quite a few people through your doors.
Also good advertising.

KFH are also a good agent, but not sure if you've got any of them near you.

As for pictures/cost, no. With BM nothing was payable without a sale and even if they take pictures always remember you have a 14 day cooling off period.

Push for good viewing feedback so you know whether you need to change anything and price competitively.

AltheaVestr1t · 13/08/2020 23:46

Like others have said, that's not a great deal of difference. Also, remember that the estate agent can only tell you what they would market a property for, not what the actual value is. Go with the one that you felt you could work with best.

SimplyRadishing · 14/10/2020 08:55

I live in South London both are dire.
Streets ahead slightly worse. 🤷‍♀️

I would def get a 3rd and 4th.

Ideally you want to get it on, get a solid offer for fair market rate and crack on.
(No one wants to sell too low but too high can be problematic. The property may be valued at under offer price causing mortgage issues. Equally overpricing and having it sat on for ages makes people suspicious and it is then harder to sell)

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