Valuing and selling my property

Online valuations are often based on general data and do not take into account the unique characteristics of your property. Unlike these generic estimates found on the internet, a valuation by a professional estate agent takes into account the precise details of your property. Each house or flat has its own particularities that influence its value, and these nuances cannot be fully captured by online estimates. Even the most comprehensive databases fail to capture all the key elements.

Comparing your property to online listings can lead to inaccurate valuations, often well above the actual market. An accurate valuation is crucial to the sale of your property. If you underestimate, you risk immediate financial loss. Conversely, over-estimating can lead to a devaluation of your property, as prolonged exposure to the market can make potential buyers wary.

Using the services of a qualified estate agent offers an accurate estimate that is in line with the current market. This avoids costly mistakes, maximising your chances of selling your property at the right price, within a reasonable time. Ultimately, for a reliable valuation tailored to your property, an estate agent's expertise is unrivalled by online estimates.

The valuation of a property is based on several criteria.

Primarily, the estimate is based on a comparison with other properties currently for sale on the market. However, this method does little to reflect reality, as the prices quoted may be disconnected from actual transactions. Another approach is to analyse properties that have actually been sold, which provides a more concrete picture of real market values.

At the same time, the profitability of the property can also play a role in its valuation. Income-generating properties, such as rental investments, are often valued according to their ability to generate a return on investment.

In addition, the cost of construction and the materials used must be taken into account in the valuation.

Beyond these methods, an agent's experience is crucial. Their expertise enables them to take all these factors into account and weigh them up correctly to arrive at a fair and accurate estimate. The agent's practical experience enables him to understand the subtleties of the local market and to value a property holistically, incorporating factors that purely statistical methods might overlook. So, for a reliable valuation, an agent's experience and know-how are essential.

The distinction between an opinion of value and a property valuation lies in the level of detail and the valuation process.

First of all, both appraisals aim to estimate the value of a property. However, only chartered surveyors can carry out a valuation. That said, the fact that a valuation is carried out by a chartered surveyor does not necessarily guarantee the absolute accuracy of the estimated value.

Property valuations follow strict, official methods of calculation, but sometimes these methods can overlook certain subtleties specific to a particular property transaction, so even if the valuer rigorously follows an established protocol, errors can occur if he or she is not sufficiently informed about the nuances of the property transaction.

On the other hand, an opinion of value, although less formal and detailed, can be provided by a professional in the sector, such as an estate agent, who has a working knowledge of the local market. This allows specific factors to be taken into account, even if the methodological rigour of this estimate is less rigorous.

In short, while a property valuation follows strict procedures, an opinion of value can benefit from the practical experience and specific knowledge of the professional, even if it is not always as formal or detailed as a valuation.