A Guide to Instant Online Valuations
March 13th, 2023
They are everywhere at the moment. Almost every agent has one and they can be useful, but also quite annoying. Here is a guide to instant online valuations and how you treat the results. I’ve even got one on my homepage, so after you’ve read this article take a look and see what yours “could” be worth https://craigthompson.exp.uk.com/
You see an advert on Facebook asking if you’d like to ‘know the value of your house within 60 seconds’
You enter your postcode, address, the number of bedrooms and your email address and up pops an instant online valuation, literally within a few seconds.
Are you disappointed, surprised or neither?
Instant online valuations can be useful for a quick guide as to what your property *might* be worth, but a guide is all they are.
The way they are done is through a number of data points of what your property sold for previously, what other neighbouring properties sold for and then seeing the market conditions since. However, there are a number of problems with this method.
Firstly, what you paid for it has no bearing on what it might be worth, especially if you have improved the property or extended it.
Secondly, the average price rises in one part of the area you live in can be very different to another area, let alone the differences around the country!
The one piece of advice I can give when it comes to getting an instant online valuation is not to ‘blame’ the estate agent for providing you with a figure that is too low, or too high – take the instant valuation tool for exactly what it is, which is a guide that might, or might not, be right.
So instant valuations can give you a guide and they are useful to help you plan best and worst case scenarios, but while this technology is still in its early stages of development, there is nothing better than getting an actual estate agent out to value the property and give you a real view of current market conditions in your area, along with the right marketing strategy for your property.
If you are considering selling and would like me to pop round at a t time that suits you, you can request an appointment here https://craigthompson.exp.uk.com/contact-us/