Estate agent valuations explained

Your home is probably your most valuable asset so you’ll want to be confident it sells for the best price. So how does an estate agent value your home? What do they look for and what should you do to prepare? And how do you know if the estate agent's valuation is right? We take a look at how the process works.

Rebecca Gamble Consumer Journalist

Estate agent valuations help you decide the all-important sale price to market your property at. But how does an estate agent get to that price? And how do you know whether estate agent valuations are fair, accurate and reflect the current market?

How do I get an estate agent valuation?

Firstly, you’ll need to draw up a shortlist of estate agents to contact. The easiest way to do this is to use our Best Estate Agent Finder tool; it compares estate agents on success rate, the average time they take to sell a property like yours, how often they achieve the asking price and reviews.

Get a free valuation by using our Best Estate Agent Finder tool. It will show you the top performing local estate agents near you so you can arrange a free estate agent valuation

Once you have identified the best local estate agents, it’s advisable to contact at least three to arrange a free estate agent valuation visit.

How do estate agents value a house? 8 things they look for

There are a range of factors estate agents will consider when they value your house. Here’s what they’ll look at:

1. Researching the market

One of the main sources of information an estate agent will use to fairly value your property is market comparables. For example: what houses have been sold on your street or nearby and for how much? And, how similar are these houses to yours?

Estate agents will use in-depth information they can access through their subscriptions with property portals such as Rightmove, On the Market and Zoopla.

They can also access information from sources such as the Land Registry, to establish an overall idea of the general property value for property types in a specific area. Once this has been done, they’ll need to visit your home to provide their valuation.

When deciding what price to sell your house for, it’s a good idea to do your own research ahead of the estate agent’s visit. You can get a quick online house valuation using our online tool and visit the Land Registry for recently sold house prices in your area.

2. Kerb appeal

Don’t forget the importance of kerb appeal. A HomeOwners Alliance study found that 68% of homeowners say kerb appeal was important in their choice of home. So the estate agent will be assessing this when making their valuation, checking things like whether the windows are well maintained, whether the roof appears to be in good condition and if the front garden, pathways and fences are nicely presented. If you think your home’s kerb appeal could be improved, see our guide on how to update the exterior of your home.

3. The condition of your property

During the valuation process, the estate agent will be looking at the condition of the property. Has it recently had a new kitchen and bathrooms or is it likely that a buyer would need to do a substantial amount of work? If your property looks like it needs to have major work to update it, this is likely to be factored into the house valuation. If this is the case, think about whether you’d want to get this work done before going on the market.

Preparing your home for sale is important; it may mean your property sells faster and for a higher sale price. Here are our top tips for making your home more valuable and sell faster.

4. The property type

The demand for certain property types can vary by area so the estate agent will consider this when undertaking their house valuation. For example, in some areas large family homes near good schools will be in high demand while in other areas flats will be more sought after. They’ll also be looking out for unique features and any original character features.

5. Your property’s features and size

Naturally the size of the property and number of bedrooms and bathrooms will be a factor considered in estate agent valuations. They’ll also assess the layout too as this will be important to the look and feel of the property. Whether or not the property has a garage, off-street parking and a garden will all be factored into the valuation.

The features that appeal to buyers will vary and are very personal. Some are looking for character features like open fireplaces while others might want a slick modern feel. Certain features, such as a downstairs toilet, have wide appeal. Our recent research into how to add value to your home showed for example that a downstairs toilet is a big attraction to a variety of different buyers as it’s seen as value to young families with children, those that like entertaining and don’t want guests wandering upstairs, to older buyers who might be looking to future proof their homes.

6. Tenure: Is the property leasehold or freehold

Whether or not the property is leasehold or freehold will also be a factor in estate agent valuations. Recent and planned leasehold reforms may have an implication. While most flats are leasehold in tenure, if you are selling a flat with a short lease then your valuation may be impacted. Likewise, if you’re trying to sell a house (rather than a flat) which is leasehold you may also have problems.

7. What’s the neighbourhood like?

The area where your home is located will also be important. For example, if your house is in the catchment area of a well-regarded school, it may have a bearing on the value. The estate agent will also consider factors such as nearby green spaces, and what the transport links are like.

8. Is there development potential?

If you’ve got planning permission in place, such as for an extension, this will also be factored in by your estate agent. The estate agent may also suggest improvements you could make to the house that would increase its value or saleability such as giving your walls a fresh coat of neutral paint or pressure-washing your patio.

Get a free valuation by using our Best estate agent finder tool. It will show you the top performing local estate agents near you so you can arrange a free estate agent valuation

Preparing for a house valuation

You’ll want the estate agent to see you home in its best light during the house valuation. So make sure you clear away clutter and make sure its clean and tidy. Make sure the outside of your house is tidy too.

Estate agent valuations are also your opportunity to ask the estate agent about things like fees, whether they’ve sold any similar properties recently and for how much. Find a full list of what to ask in our guide 18 Questions to ask estate agents when selling a house.

The estate agent will also ask you about how quickly you need to sell your property. If you’re under pressure to sell, they may advise going on the market for a lower amount in a bid to get a quick sale. But think carefully before doing this and make sure you’d be happy to accept a lower amount.

How long does it take to get estate agent valuations?

As little as a matter of hours to a couple of days. It will depend on the estate agent’s work load. Ask the estate agent before they leave how long it will take to come back to you with a valuation.

Do estate agents charge for valuations?

No, your estate agent should offer you a valuation for free.

How to do a house valuation yourself

How much your house is worth is a conversation. You as the homeowner ultimately decide.

So don’t just rely on what the estate agent says. It’s a good idea to do your own research into how much your house is worth – this will help you sense check the estate agent valuations you receive. So become an expert in local house prices. Bear in mind that there may be a discrepancy between the price houses are being marketed at and how much they are eventually sold for. You can find out what local properties have recently sold for using the Land Registry website. There is a lag time of about six months, so if the house down the road sold last month you might not be able to see what it actually sold for but it’s the most reliable source of actual sold prices.

Find more information in our guide What price should I sell my house for?

Instant online property valuations

To get an idea of how much your house is worth, before getting estate agent valuations, you can get a free, instant online valuation with our tool. Simply enter your property address details and contact details. The results are based on up to date local data and Land Registry sold data. Your results will give a high-end valuation, a low valuation and a suggested rental income.

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