Difference in Valuation

[WalterHWhite]

Can anyone think of any reason why an estate agent would value a house so differently?

Agent one - market at £400,000, £395,000 would probably get £375-380.

Agent two- market at £395 looking at £370-375.

Agent three- £295 for probate, market at £330,000.

Any ideas other than estate agents wants it!

Thanks

Agent 3 had a builder lined up to renovate the house for a kick back.

That’s so corrupt!

I agree with the first answer.

I'd start by asking what evidence they gave you to support their valuation (ie: examples of properties that actually sold), then ask what evidence you've personally seen for the value. What is actually selling in your area, as opposed to just sitting on Rightmove for months on end?

It's entirely possible that agent 3 is pricing to get it sold quickly and the other two are giving you a valuation where you will end up slowly reducing the price to 330 anyway.

Agents 1 & 2 are basically the same, they just presented how hard they are willing to negotiate/work but their end numbers are basically identical. Agent 3 is looking for quick sale and/or has a mate they want to help out by getting a deal.

It’s difficult to get any insight into other properties in the area as it’s the only one of its kind.

It could also be that agent 3 is right, and that agents 1 and 2 are hoping to "get you on board" with an unrealistic expectation that they will "help" you to revise down after not getting any close offers.
It's impossible for anyone to say without more detail. If you give an overview of the house type, condition and the postcode - posters on here will give you my idea of what they think it might achieve.
At the end of the day you need some confidence in your own research on value - particularly when the figures are so different.