The property market is as hot as the weather. Demand for homes has been outstripping supply for months with the average time to sell being half that at this time in 2021 at 33 days.
For those who do want to sell, it makes sense to want to get the best price.
As your property is likely to be your biggest financial asset many sellers tend to investigate what their home might be worth by using instant online valuation tools. These are marketed as offering the vendor a free and instant idea of what their home could be worth on the open market without the need to arrange for an estate agent to visit the property.
The idea is you log on to the estate agent website and key in your name, address email and/or telephone number and other details about the property. You are then provided with an instant valuation quote. This is usually presented as a from and to price of considerable difference.
The reality is these services are simply data capture tools, meaning you will more than likely end up being bombarded with calls and emails insisting you get an agent to call round to offer a more accurate valuation. Many agents will even state on the call these are not accurate and merely a suggested valuation.
Sheldon Bosley Knight’s head of residential sales and marketing, James Morton said: “At SBK, we have purposefully elected not to employ these tactics with instant valuation tools.
“They are often misleading and based on algorithms which can never understand how stunning a kitchen can look, how popular the local school is, or the views a property may have over rolling countryside.
“Our agents are highly experienced and experts in their areas. In order to provide, an accurate understanding of what a property could achieve we would need to understand the motivation behind the sale, understand in detail what works a seller has done to the property during ownership, why they bought it, see inside and outside the property and formulate the correct marketing strategy to achieve the best price the market place has to offer.
“I would urge anyone thinking of selling to consider who these tools provide value to, the seller or the agent?
“We are always happy to help and advise buyers so if you are looking to sell, please call or visit one of our 11 high street branches and have a chat with our team.”