Choosing an Estate Agent: why a realistic valuation is crucial to a successful sale

When you’re selling your home, it’s crucial to choose an estate agent which is experienced, helpful and honest and that you don’t automatically choose the agent that suggests the highest asking price.

The agent providing the highest valuation won’t necessarily achieve the best price for your property and can often lead to price reductions. Choosing the right agent can make all the difference, enabling you to sell your home quickly and for more money.

Capture Buyer Attention

A good agent will quote a realistic price based on their experience of buying and selling properties in their area, an analysis of local market data and their ability to negotiate. Listings on property portals such as Rightmove, Zoopla and OnTheMarket will get the most exposure in search results within the first week, so it’s vital to set the right price from the outset to maximise interest and viewings.

Be Realistic

Some agents will quote a high initial asking price in order to win your business. It’s nice to hear that your home is worth more than you thought, but the reality is that price is ultimately determined by offer and demand. Quite often, what will happen is that your property won’t sell simply because the asking price was too high from the outset and, the longer it doesn’t sell, the more buyers assume there’s a problem with the property. Agents will then urge you to start dropping the price and, in some instances, the property sells for less than if it had been realistically priced in the first place.

Market Evidence

There can be many reasons why a property is reduced in price and it is often something that estate agents don’t like to discuss when talking to new potential clients. At PPP we will always believe in offering complete transparency and honest information on the local market conditions. We share this knowledge to help people to progress with their plans and to make decisions based on facts and market evidence.

Fortunately, a number of national property portals allow agents to track not only sales agreed or new listings in specific areas, but also price reductions.

The latest independent data from Rightmove, the UK’s largest property portal, shows:

Price Reductions across all of Perthshire:

1^st January – 31st December 2019

Agent 1 – 178

Agent 2 – 95

Agent 3 – 58

Agent 4 – 47

Agent 5 – 43

Premier Properties – 55

"Perhaps rather alarmingly, the agent top for price reductions across Perthshire actioned 178 price changes in total. A significant difference from ourselves on 55 and even the agent in 2nd place on 95. Over July, August and September alone they actioned 62 price reductions. Whilst it’s interesting data to look at and consider, the info isn’t publicly available as such and we aren’t permitted to name any agents or solicitors firms, other than ourselves. We do believe this info would be very useful for clients and vendors to access freely so hopefully there may be a change on that policy with the property portals."

Katie Hall

Director

This is one chart we are happy to be lower down on. We feature high on the sales agreed for the year and this evidence shows that it’s not because we are having to reduce the price of properties to achieve this. For us, we believe this shows that we are continuing to be quite accurate with our pricing of properties and also that our marketing continues to be one of the most effective across Perthshire. What owners need to be wary of is being overpromised by an estate agent simply to get their business and inevitably down the line a price reduction, or sometimes multiple price reductions, will have to be actioned to help find a buyer. Another important point to make is that there is always an ongoing debate regarding the online agent approach versus a local estate agent approach and it’s interesting that the UK’s largest online agent features very high indeed on this price reduction table, despite being much lower down the sales agreed table for the year."

Gary Robertson

Head of Estate Agency

"Clearly we always want to achieve the best possible price for any client we work with but we will only give our advice based on our own experience in the local area and market evidence where possible. We will never value a property higher than we believe it’s worth just to secure business. Owners should choose an agent based on who they trust to deliver the best possible price and experience."

Alan Keddie

Director

"If a property is marketed correctly, priced correctly and the agents appointed are working flat out across all available methods then there is no need for a change in price to be considered or discussed in the majority of cases. When an agent gives an indication on the value of the property, owners should be prepared to ask how the agent arrived at that opinion and are well within their rights to do so."

Laura Green

Sales Negotiator

"Even with the best of intentions or down to a seller’s own timescale or situation, it may be worth considering lowering an asking price to help generate fresh interest in a property along with some other things that can assist and it should never be the first and only thing to try."

Cloe Wyllie

Estate Agency Assistant

Questions To Ask Your Agent

So, when deciding on an agent, you should be prepared to ask the following questions:

Want To Know More About Buying & Selling a Property? Come Along to our Blairgowrie Drop-In Event

What our clients say about us

Testimonials

Callum Wilks (Nov 2019) – “Moving house is very stressful PPP made it easier and less stressful wherever possible.”3 Bed End Terraced House

We heard about Premier Properties through a family recommendation.

Communication was great always an update even if there wasn't much to update on. Very proactive and we were all in the loop with what was happening. All very knowledgeable.

Excellent video and social media promotions – I didn't have to do viewings myself which was great.

Moving house is very stressful PPP made it easier and less stressful wherever possible.

We would recommend Premier Properties - proactive, great knowledge of area, enthusiastic sales pitching and kept up to date throughout.

Nothing to note as constructive criticism. Very grateful to everyone involved thumbs up.

Joy Rumgay (Nov 2019) – “We chose Premier because we were told you were a very efficient and friendly company. The marketing was First Class, good communication at all times and they made us feel comfortable when asking questions.”3 Bed End Terrace, Scone

We chose Premier because we were told you were a very efficient and friendly company. The marketing was First Class, good communication at all times and they made us feel comfortable when asking questions.

When it came to the negotiations, we felt confident for the agent to use his expertise to negotiate the sale of our property.

The experience was excellent from start to finish and a prompt result – We would recommend Premier Properties. They listened to what we had to say and gave us excellent guidance and made us feel at ease.

Irene Brown (Nov 2019) – “You just seem to move properties quickly at the right price. It’s lovely to see a local agent grow from strength to strength!!”5 Bed Detached house- Scone

We know Alan very well from the area, and so chose Premier as the selling agent.

The pictures of the house were very good, fab video and appeared in all the right places, spot on! We were lucky – the first viewer bought our house so was perfect timing!

You left the negotiations to us – we were happy with this. Impressed with the total service. Very professional knowledgeable team.

You just seem to move properties quickly at the right price. It’s lovely to see a local agent grow from strength to strength!!

Jane Gemmell (Nov 2019) – “Premier Properties is a highly professional business with a very personal touch.”3 Bed Detached Bungalow

Premier Properties had sold a similar house in the same neighbourhood very quickly. We met with Katie Hall and liked her and her business approach. The fixed fee appealed, and Katie was happy to go above and beyond the usual service which was very helpful as we live 300 miles away.

The property marketing was excellent, along with the communication received, and the negotiation of the sale. The overall experience made us feel confident.

I would definitely recommend them - Premier Properties is a highly professional business with a very personal touch.

Fiona Browne (Oct 2019) – “We chose Premier Properties due to them being the top agents in Perth, seem to have a good section of the sales market, and I was pleased with all avenues of marketing.”1 Bed Flat - Perth

We chose Premier Properties due to them being the top agents in Perth, seem to have a good section of the sales market, and I was pleased with all avenues of marketing.

The property sold after the first viewing that I carried out but was pleased with how the potential buyer was dealt with. It was a straightforward sale but if it had not been, I would have been confident in your team’s negotiation skills.

The overall experience left me very pleased even though it was a small one bed flat. That is what I like about the fixed fee.

I would recommend - professional team that know the market and made me confident they would sell my property.

Ronald Thom (Oct 2019) – “All marketing was excellent and professionally done. Extremely pleased with how potential buyers were dealt with. The communication was excellent – updated after each viewing.”4 Bed Detached bungalow - Scone

We were recommended Premier Properties by a friend. Katie visited with the marketing information and convinced us Premier was the company to use.

All marketing was excellent and professionally done. Extremely pleased with how potential buyers were dealt with. The communication was excellent - updated after each viewing. Can't praise Laura and Cloe enough.

Very pleased with the negotiations - Happy from start to finish.

We would definitely recommend Premier Properties - All down to Katie, Laura and Cloe.

Russell Haggart (Oct 2019) – “Potential viewers were dealt with effectively, and all the staff were friendly and very helpful.”3 Bed Semi Detached house- Bridge of Earn

We chose Premier properties to sell our property because we know Alan Keddie.

The marketing was very good. No complaints. Potential viewers were dealt with effectively, and all the staff were friendly and very helpful.

Alan done a fantastic job when it came to the negotiations.

Everything went very smooth no complaints at all.

Steve & Mary Panton (Oct 2019) – “Great service and would recommend to others due to the friendly and professional service.”4 Bed Detached house- Perth

We chose to sell through Premier Properties due to their local reputation.

Good exposure of the property throughout all media channels. Cloe and Laura were always very professional and friendly. We were all kept updated with any relevant info - Katie pushed it hard, over the final hurdle.

Great service and would recommend to others due to the friendly and professional service.

Dannii Christie (Sept 2019) – “My experience with all the staff that I have spoken to within your company have been fabulous and hugely helpful.”2 Bed Detached house- Auchterarder

Premier Properties had been recommended to me and my solicitor also recommended them.

I think the fact that you sold my property in a week says how good your marketing is. I wanted nothing to do with the viewing or deal with potential buyers and this is what I got, as one of my dogs doesn't keep well, I wanted to cause him as little stress as possible and you guys made that happen.

My experience with all the staff that I have spoken to within your company have been fabulous and hugely helpful. I got what I wanted when it came to the negotiation side.

Fantastic company. I have already recommended you to someone and going forward if I hear of anyone, I will pass your details on.

I would definitely recommend - friendly, professional and extremely helpful.

Maggie Myles (Sept 2019) – “We were made to feel special by both Gary & Laura who went the extra mile for us. Always felt we were in safe hands & knew we were dealing with professionals.”2 Bed Semi - Detached house- Perth

We had been recommended Premier Properties by 2 friends who were very glowing in their praise of your company. The property was very quickly put on all the major platforms. The photos and video were excellent & the brochure was very attractively presented. Premier were pro-active on all fronts.

Gary and Laura did an excellent job. The communication was always of the best. Clearly Premier choose their staff carefully and from a client viewpoint the training must be good.

We were delighted with Gary's handling of negotiations. The sale was concluded very quickly.

We were made to feel special by both Gary & Laura who went the extra mile for us. Always felt we were in safe hands & knew we were dealing with professionals.

We would definitely recommend Premier Properties. Their expertise is clear to see. A very friendly team and highly professional in all they do. We had every confidence that they would do a good job for us and they delivered. Cannot find anything to be critical of. No complaints. Thank you for all your help.