A Property Valuation Should Be Far From An Estimate

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One of the most important aspects of selling a home is to market it at at the right price; one that will attract viewings and in turn, bids, but not risk short selling it. In many ways in fact, it is here that an estate agent can be judged.

On the face of it, valuing a home is straight forward. In essence, it judges the attractiveness of a property in regards to its upkeep, how it sits in the current market, and the performance of like for like properties.

The process does go deeper than this though, and it is here even the best estate agents can fall short. Indeed, the Royal Institute of Chartered Surveyors (RICS) has set criteria which should ideally be followed when conducting a valuation.

The RICS code defines several factors by which a property should be valued. As most estate agents do already, this says that a property should be judged according to; its age and type, the number of bedrooms and the fixtures and fittings included for its sale.

It goes further still though, which is where many local estate agents let themselves down. A property should also be judged in regards local amenities, its construction type and the geographical area it sits in. More than this though, any liabilities the property has in regards to service charges, ongoing tenancies and so forth need to be considered.

In truth though, such considerations are rarely used except by official RICS chartered surveyors. With this in mind, it could be worth asking exactly what criteria has been used and, if deemed necessary by the seller, seeking a more thorough appraisal before deciding upon a firm marketing price.

Though a valuation is an important part of the process, there are many other areas by which the competency of an agent can be judged. To help with this, at Meet My Agent we allow previous sellers to leave their own estate agent reviews and ratings, for those entering the market to consult.

About the Author:
The Article is written by www.meetmyagent.co.uk providing Best Estate Agents and Local Estate Agents. Visit http://www.meetmyagent.co.uk for more information on www.meetmyagent.co.uk Products and Services___________________________Copyright information This article is free for reproduction but must be reproduced in its entirety, including live links and this copyright statement must be included. Visit www.meetmyagent.co.uk for more services!



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