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:

What our clients say about us

Testimonials

Lori Corbet Mann (July 2021) – “Premier Properties’ team is absolutely outstanding – so friendly, professional and helpful! I can genuinely say that I have not previously enjoyed such outstanding customer service and care in the past 15 years of living in the UK. I wouldn’t go anywhere else if selling a property in the future.”Estate Agency Client - Kirkgate, Perth | 1 Bed Flat | Sold in 7 Days Over Asking Price

"I chose PPP over other agents due to the integrity and commitment to their clients of the partners, Katie and Alan.

Superb marketing - professional and carried-out really swiftly. First class customer service. Brilliant Negotiation - you got us a higher price than we were anticipating!

Overall, the experience made me feel like a highly valued customer should.

Would undoubtedly recommend. Your commitment to your customers, and to providing the highest standard of service possible was evident. I wouldn't go anywhere else if selling a property in the future.

Premier Properties' team is absolutely outstanding - so friendly, professional and helpful! I can genuinely say that I have not previously enjoyed such outstanding customer service and care in the past 15 years of living in the UK."

Isobel McIntyre (July 2021) – “Overall experience very smooth and I would thoroughly recommend Katie and her proactive team to anyone moving property, they were all very professional, quick responses and great service.”Estate Agency Client - Heughfield Road, Bridge of Earn | 4 Bed Detached Villa | Sold in 6 Days

"Chose PPP due to friend recommendation on how good they are.

The staff were great and very helpful and on the ball for following through. Very positive outlook and friendly manner made clients easy to deal with. All photos, video tour and drone footage were exceptional, the website was very good also. Well-coordinated appointments and the feedback was very good and helpful.

Overall experience very smooth and I would thoroughly recommend Katie and her proactive team to anyone moving property, they were all very professional, quick responses and great service."

Anne Jardine (July 2021) – “Very quick, efficient and effective sale with positive results all round for myself, the seller, and also for the buyer. Thank you for making the whole process a breeze!!”Estate Agency Client - FriarStreet, Perth | 5 Bed Semi | Sold in 8 Days Substantially Over Asking Price

"I chose PPP as they have the most prominent estate agent sign around the Perth area and personal knowledge of professionalism of staff.

Excellent marketing. Quick in terms of setting up - photographer, footage and quality of photographs excellent. Easy access to website.

Communication was frequent over the course of the sale. Staff clearly worked as a team, knowledgeable of who was dealing with what and quick to return calls with information required. Communication with buyers was very efficient. Appointments booked (canceled where necessary) to suit myself in a timely efficient manner.

I felt my view on the expectation on how much I was looking for was listened to and matched.

Very positive experience. Very quick, efficient and effective sale with positive results all round for myself, the seller, and also for the buyer.

Would always recommend, why wouldn't you?? If you’re going to sell then I cannot think of a reason you would not opt for the best experience you can have. Thank you for making the whole process a breeze!! Was lovely to speak with you all during the sale period."

Craig Wallace (July 2021) – “This was the easiest and best experience I have had of selling a property. Customer service is excellent, a great team to do business with and nothing is too much trouble.”Estate Agency Client - Queen Street, Perth | 3 Bed Flat | Sold in 7 Days Over Asking Price

"Premier Properties have sold several properties recently in the area where my property was, so they obviously knew the market in this area. This proved to be invaluable when the property sold within seven days of listing.

Marketing was fabulous, very professional photos and video that showed the property at its best. Premier properties took the stress of showing potential buyers around by showing them themselves. This was a huge help. Great customer service, kept up to date throughout the process.

Very happy with the very quick sale of the property and the price achieved. This was the easiest and best experience I have had of selling a property.

Customer service is excellent, a great team to do business with. Every aspect of selling the property from first contact to the sale of the property has been very professional, they are great to deal with and nothing is too much trouble."

Alan Cleisham (July 2021) – “An excellent experience, our property was sold on the first day of being on the market – professional estate agency from the start to the finish of the sale process.”Estate Agency Client - Matthews Drive, Perth | 3 Bed Semi | Sold in 1 Day Substantially Over Asking Price

"PPP have a good reputation in the area and once our house was on the market we wanted to have confidence it would sell quickly for the price we needed.

The video tour, photos and the Matterport virtual tour were excellent. Having our property on PPP social media as coming soon certainly helped to get viewers in place as soon as it was on the market.

Zoe was excellent, providing feedback, being highly personable, knowledgeable and she updated the portal in a timely fashion so we always knew where we stood. Zoe was able to negotiate a higher value than we had anticipated - something we were delighted with. And our property was sold on the first day of being on the market

An excellent experience - we were well guided through the selling process by PPP throughout.

Would absolutely recommend - professional estate agency from the start to the finish of the sale process."

Duncan Scott (July 2021) – “They are the best I have experienced and would recommend them to anyone selling or purchasing a property – a reliable and trusted team with the customer at the heart of their business.”Estate Agency Client - Barrack Street, Perth | 2 Bed Flat | Sold in 12 Days Over Asking Price

"I appointed PPP as they are a reliable and trusted team with the customer at the heart of their business.

Very professional marketing, the walk-through tour is best in class.

They are the best I have experienced and would recommend them to anyone selling or purchasing a property. They treat potential buyers with respect and professionalism. Always working in the best interest of the client to achieve the best price.

I know that once I have marketed a property with Premier Properties I can relax in the knowledge that they are working hard in the background

My positive experience with Premier Properties gives me the confidence to recommend them to anyone selling or purchasing a property.

They have a dedicated and professional team whose primary focus is on good customer experience and strong communication."

Jim Wainwright (July 2021) – “Very quick and efficient. Managers personally showed clients the property – the personal approach was welcomed by all viewers. Very pleased. Thank you very much.”Estate Agency Client - Gannochy Road, Perth | 3 Bed Detahced Villa | Sold in 8 Days

"I decided to sell through PPP as I had already met the managers.

Very quick and efficient. Arranged home survey. Brilliant photographs. A survey of faults was made and sent to the buyer. Managers personally showed clients the property. The personal approach was welcomed by all viewers.

Excellent Communication. Prompt answering the phone and forwarding messages. Your advice to me was to accept the first offer. This was sensible as there was no chain at the buyers’ end.

Very pleased, would recommend. Thank you very much."

Sheila & Sandy Garland (July 2021) – “The whole experience of using PPP to market our property has been excellent. All the team were most helpful at each stage of the process which resulted in the experience being stress free for ourselves.”Estate Agency Client - Crammond Place, Perth | 3 Bed Terraced House | Sold in 2 Days

"They had been recommended by a friend. The whole procedure was excellent, very professional and personal at the same time, from the first meeting to placing our property on the market.

There was good communication in arranging viewings and we were kept informed of viewers opinions after their visit.

Customer service was faultless. All staff kept us informed at all times with what was happening and their knowledge and advice was most helpful. All negotiations were excellent.

We felt really reassured and the service received gave us the confidence to go ahead and market our property.

The service from PPP was excellent from start to finish and we would certainly recommend your company to others.

The whole experience of using PPP to market our property has been excellent. All the team were most helpful at each stage of the process which resulted in the experience being stress free for ourselves."

Elisabeth Craig (July 2021) – “I would have absolutely no hesitation in recommending PPP as they are highly professional, extremely honest, interested in their clients and their needs and very competitively priced. Superb value!”Estate Agency Client - Millglen Drive, Balgowan, Tibbermore | 5 Bed Detached House | Sold in 4 Days Substantially Over Asking Price

"I chose PPP to sell my house because of their excellent reputation and also because we believe strongly in using local businesses.

First class all the way. Superb photos and video. Delighted with way our property was exposed immediately and so effectively on property portals, the website and social media.

Excellent and very prompt feedback and we also felt the info on prospective buyers was helpful.

The sales negotiator was highly efficient and guided us gently through the process. We were consequently delighted to achieve the price we had envisaged.

The customer service was faultless. The staff knowledge and expertise were very impressive, and you held our hands the whole way! We felt we had been expertly cared for and almost that we were the most important clients

I would have absolutely no hesitation in recommending PPP as they are highly professional, extremely honest, interested in their clients and their needs and very competitively priced. Superb value!

A huge thank-you to Katie, Alan, Debbie, Zoe, Murray and all the staff and best wishes for your continued growth and success."

Trina Gillies (June 2021) – “Extremely good overall – what could have been a stressful experience was made extremely easy and comfortable to negotiate.”Estate Agency Client - Anderson Drive, Perth | 3 Bed Detached House | Sold in 3 Weeks Over Asking Price

"PPP were recommended to me. Excellent marketing - really professional from the first contact. Photos etc certainly made the property look at its best! Very organised for viewings etc and quick to act on potential buyers.

Superb customer service - any contact was very efficient, and I was contacted regularly to keep me up-to-date. Everyone seems to know what they’re doing 👍. Dealt well with ‘glitch’ in the offer process. At no point did I feel that things weren’t being organised efficiently.

Extremely good overall - what could have been a stressful experience was made extremely easy and comfortable to negotiate.

Would definitely recommend - from the very first contact, professionalism was evident. Everyone I dealt with gave me confidence that the house sale was in good hands. A huge Thank-You!"