the valuations for our house are completely different - wwyd?

[carlajean]

We've had 3 agents round, two at the upper end of the market (Savill's and Connells) and the 3rd a more local, lower end one. The 1st 2 suggested a value 25% higher than the local guy. This has totally thrown us. Is it likely that the 2 agents quoted higher to get our business? We want to sell the house fairly quickly, but the value suggested by the local seems really low.

Get another 3 agents in! You've got nothing to lose apart from a bit of time. Have you interviewed them about what they'll do to sell your property and why you should use them rather than anyone else? What's the market like in your area at present - is stuff selling fairly fast? Did the agents tell you what they'd based their valuation on? When we sold all 6 agents who came to quote showed us comparable properties and explained the reason for their valuation. How many properties of your type in your area does each of the agent have on the market/sell each year? That will tell you how well they know the local market for your type of house.

More valuations will give you a better idea. Do some research yourself by looking at prices of similar properties and recent sold prices.

If your house is a fairly standard house, look on zoopla and find out sold prices of similar properties. (Zoopla because they have the pics so you can compare condition of the houses as well.)

We thought based on our research that our house would sell fairly easily for £185k. One estate agent said expect to get £190-200k, one said expect to get £185-195, another said expect £175-185. We sold with the middle one for £184k to investment buyers.

I've recently done this - had two valuations - with a difference of £20k. Got another two valuations, had a look at local prices, and we'll be putting on at the higher end (not at the highest price quoted), with a view to getting mid-range.

Some agents will over value your property to get your business. Then they'll get you to drop when it doesn't sell.

Get more valuations and remember local valuers will know your area better.

I used to think that the lower ones were more realistic and would therefore sell better.

Had a flat on with a lower end agent. Buyer was constantly trying to lower the price after we accepted her offer, to the point where we got fed up and refused to drop - she walked away.

Put it on with two of the higher end agents, at a valuation we thought was unrealistic. Got two offers, both 10% higher than what we had accepted with the other agent.

So next house I went with the agent with the highest price - and sold for more than any of the others had predicted.

I think a lot depends on where you are. Sometimes agents just have different customer bases.

Ask the EA for comparables. They should be able to provide you with details of similar properties they've sold and how much they were sold for. Also, you can check on rightmove how much properties in your area have sold for.

Zoopla is handy to a point, but we just sold our flat for 55% more than the zoopla estimate, which was probably based on we paid 7 years ago. It is a blunt instrument. And the fact that the other data used is land registry data, so a minimum of three months out of date. Speak to the agents for comparables and the prices they achieved.

it depends if it is a typical house in a streetful of similar houses, or an unusual house.

In towns the local agent will know what a typical semi is worth in any local street because a dozen of them were sold in the last month; and he will know the local variations due to fashionable streets, proximity to schools and stations.

We had two come in exactly the same and one 10% lower.

We went for one of the higher ones but started a bit lower than they suggested. In the end we sold bang in the middle of the two valuations using 'offers over' approach.

Pleased we didn't automatically go with the lower valuation as we'd have lost 5%!

They aren't valuations, just an idea about what they are prepared to market your house for.

Valuations are completely different and will come with comparables etc. and are very very rarely free.