What to Expect at an Estate Agent Valuation

Over the last ten years, property prices across the UK have risen significantly. But how are these values actually worked out? While demand drives the market, it’s estate agents who propose the asking price for your home—commonly referred to as a valuation. If you’re wondering what really happens during this process, here’s a breakdown.

How do estate agents decide on a valuation?

An estate agent’s valuation isn’t the same as an official property valuation—it’s an estimate of the price your home could be marketed for.

To calculate this, agents draw on local knowledge, industry experience, and a range of property data. They’ll look at:

1. Property type and size (including bedrooms and layout)
2. Location, transport links, and local amenities
3. Recent sale prices of comparable homes nearby
4. The overall condition and standout features of your property, such as renovations, extensions, or the state of the heating system

By combining this information, an agent suggests a realistic asking price and explains how they arrived at their figure. At this stage, it’s up to you to decide whether to appoint them to sell your property.

Choosing the right estate agent

Your home is probably your biggest financial asset, so picking the right agent is important. You’ll want someone you trust, who is qualified, approachable, and confident in their ability to market your property effectively.

Do estate agents charge for valuations?

Most estate agents offer valuations free of charge. If you go ahead and instruct them to sell your property, they usually take a commission based on the final sale price. Until then, there’s no financial commitment.

How long does a valuation take?

The process begins before the agent visits. They’ll research sold prices, trends, and local data. Once in your home, they’ll carry out a walkthrough—typically lasting 15 minutes to an hour—while assessing its condition and discussing your selling goals.

Afterwards, they’ll give their suggested asking price. This is also your chance to ask questions about their sales strategy. Choosing an agent who’s a member of a professional body like Propertymark ensures they meet higher standards and offer additional protection.

Should I prepare for a valuation?

Unlike a buyer viewing, there’s no need for a deep clean or staging. However, making your home presentable helps. If it needs work, a good agent will advise on improvements that could boost your chances of selling.

It’s wise to invite at least three agents to provide valuations. This way, you’ll get a balanced picture of your property’s market value and see which agent you feel most confident working with.

Key points sellers need to know

The property market has shifted in recent years. Rising interest rates and stricter lending criteria mean sellers need to be more realistic. Here are five things to keep in mind:

1. Buyers have more options – With more homes available and higher borrowing costs, buyers are choosier and less willing to compete.
2. Buyers are well-informed – Online data makes it easy for them to spot overpricing, so homes listed too high may sit unsold.
3. Move-in ready homes are in demand – Many buyers prefer properties that don’t require renovation.
4. Pricing realistically is vital – Overpricing can lead to mortgage refusals, stalled sales, and wasted time.
5. Cash buyers are looking for value – In today’s market, they’re hunting for bargains rather than rushing into deals.

Final thoughts

The best estate agents understand changing market conditions and will guide you toward a price that’s both competitive and achievable. While it’s tempting to aim high, a realistic asking price is more likely to attract serious buyers and lead to a successful sale.

For added peace of mind, consider working with a Propertymark-protected agent to ensure professional standards throughout your selling journey.

I hope this post is useful to you. Please do let me know if you have anything to add, and I will gladly consider it and add to the article if it helps my readers and don’t forget, if you need further advice/assistance or would like to reach out, you can find my contact details below. 

Josephine – Your Trusted London Property Partner

Josephine Dayan is a member of Laurel Leaf Networking