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

Sarah Patterson (November 2021) – “They were first class, the best I’ve seen. When looking at other estate agents there was no comparison.”Estate Agency Client – Edinburgh Road, Perth | 3 Bed Semi-Detached House | Sold in 3 Days Week Over Asking Price

"PPP came highly recommended. They were first class, the best I’ve seen. When looking at other estate agents there was no comparison. We sold and bought property through PPP so experienced both sides. The service was excellent. The whole team was wonderful. From the initial enquiry to the finalising of the sale. The staff were very knowledgeable and supportive.

Fabulous negotiation. We were very well looked after. We were expecting selling our house to be stressful, but it honestly wasn’t thanks to the staff team at PPP. I would absolutely recommend PPP to others. The whole experience was so stress free thanks to the fab service."

Ian McCully (November 2021) – “Felt like a valued client.”Estate Agency Client – Needless Road, Perth | 2 Bed Flat | Sold in 1 Week Over Home Report Value

"Excellent and very professional. Felt like a valued client. Would recommend - excellent service and great staff."

John Barron (November 2021) – “I was impressed by their expertise and thorough explanations during the whole process. I wouldn’t hesitate to recommend them to anyone needing the services of an estate agent.”Estate Agency Client – Romangate, Dunning | 3 Bed Detached Bungalow | Sold in 1 Week Substantially Over Home Report Value

"A friend told me about Premier Properties Perth. I received excellent service from Katie, Kevin and the team. My house was sold within one week.

I was impressed by their expertise and thorough explanations during the whole process. They were always courteous and helpful.

I wouldn’t hesitate to recommend them to anyone needing the services of an estate agent."

Nick & Kelly Yeats (November 2021) – “Amazing customer service from the Premier team 🌟 Katie and Alan were with us all the way, along with Debbie and Zoe in the office. We were treated like we were Premier’s only clients and Alan went above and beyond lining up a property for us to rent so we could conclude our property sale.”Estate Agency Client – Woodside Crescent, Perth | 3 Bed Semi Detached House | Sold in 12 Days Substantially Over Home Report Value

"We chose Premier Properties as Katie and Alan are passionate about what they do and the number of properties they sell speaks for itself.

We loved the photos and video tour of our property as it really showed off our home to its best.

Premier also done a coming soon post on social media which boosted interest on our property before even hitting the market.

Premier were polite and professional to all potential buyers, always keeping buyers and ourselves in the loop.

Amazing customer service from the Premier team 🌟 Katie and Alan were with us all the way along with Debbie and Zoe in the office all Premier staff were polite, professional and knowledgeable keeping us up to date at all times.

We received a price we could only have dreamed of after our property went to a closing date ☺ we were notified of our offers promptly after the closing date time.

We were treated like we were Premier's only clients and Alan went above and beyond lining up a property for us to rent so we could conclude our property sale. It all worked out well as we found a property to buy and are settling in nicely.

Anyone looking to sell contact Premier Properties as they aren't just about selling, they will help you also find your next dream home. Well done guys and thanks so much for all your help x"

Toby & Jackie McMichael (October 2021) – “The customer service was of a high quality. Would recommend. Good knowledge of the market and the best marketing package, plus contactable throughout the process, including weekends.”Estate Agency Client – Burnside Park, Pitcairngreen | 5 Bed Detached House | Sold in 2 Days Over Home Report Value

"Premier were the agents for our neighbour’s property and they recommended you.

We think your marketing package is the best in the market and high quality. Very well organised appointments and buyers checked out as best you can. Good service and good staff. We were happy with the price we got.

We had a good experience during the sale process and the customer service was of a high quality. Would recommend. Good knowledge of the market and the best marketing package, plus contactable throughout the process, including weekends."

Jemma Mackle (October 2021) – “We want to thank you so much for the exceptional service you provided throughout our house sale. And we really mean exceptional. The expert local knowledge and genuine enthusiasm for selling houses really made us feel like we’d placed our sale in the right hands. Premier Properties truly know the market and we will never go anywhere else when we sell future houses.”Estate Agency Client - Coronation Avenue, Scone | 4 Bed Detached House | Sold in 5 Days Over Home Report Value

"We want to thank you so much for the exceptional service you provided throughout our house sale. And we really mean exceptional.

From the beginning, we completely felt that Alan and the team had our best interests as sellers at heart and trusted them fully with our house sale. The expert local knowledge and genuine enthusiasm for selling houses really made us feel like we’d placed our sale in the right hands.

Nothing was ever a problem, and the regular contact throughout the process was brilliant. Alan and the team were so easy to get on with and did everything they could to get the best sale for us.

Premier Properties truly know the market and we will never go anywhere else when we sell future houses.

We have already, and will continue, to strongly recommend Premier Properties.

Thanks, Jemma Mackle."

Brian Duncan (October 2021) – “Massive thanks to all your staff with both flats I own and, in particular, the most recent lease which was time sensitive and dealt with promptly and efficiently. Great service by all the staff at your office, gone over and above anything I could have expected.”Lettings Client - Dunkeld Road, Perth

"I chose Premier Properties as my letting agent as they dealt with the sale of the flat I purchased and I was very impressed at the professional way this was carried out.

I was very pleased at the marketing process, this resulted in the property being let very quickly.

I have found the team very helpful, knowledgeable and friendly. I’m new to the process and had a lot of questions which were all answered.

Great service by all the staff at your office, gone over and above anything I could have expected. Based on the service and help I have received from yourselves, I would recommend your services.

Massive thanks to all your staff with both flats I own and, in particular, the most recent lease which was time sensitive and dealt with promptly and efficiently."

Brian Duncan (October 2021) – “Alan and Katie were very friendly and helpful throughout the buying process – good knowledge and communication. I felt very impressed at how this was handled, very happy with the service.”Estate Agency Client - Buyer | Dunkeld Road, Perth

"Alan and Katie were very friendly and helpful throughout the buying process - good knowledge and communication. The photos and video tour of the property I purchased were professional and informative. I was kept up to date with the property sale negotiations by Katie who took time to phone me late on that evening to update me.

I felt very impressed at how this was handled, very happy with the service.

As a buyer, I have found them very professional and helpful at all stages - very friendly staff."

Mike Gettinby (October 2021) – “Very good experience overall – would recommend. Friendly to deal with and moved quickly.”Estate Agency Client – Kintillo Road, Bridge Of Earn | 31 Bed Flat | Sold in 7 Days For Over Home Report Value

"I contacted a couple of agents based on reviews/listings and PPP were very quick to respond.

Very impressive marketing - everything moved quickly. I sold the property to the Council following a suggestion from PPP that they might be interested in buying it. PPP made contact and dealt with the Council leading to a quick sale.

Very good experience overall - would recommend. Friendly to deal with and moved quickly."

Mark Robertson (September 2021) – “Personally, I have worked alongside many global companies and can’t remember a team with this much energy and positive attitudes towards customers. Personally, I will never use any other estate agent based on the experience I received from PPP. The team at PPP has turned what was a daunting prospect into an enjoyable experience that got a positive result for all parties involved. 100% would recommend, no question.”Estate Agency Client - Newton Of Pitcairns, Dunning | 3 Bed Detached House | Sold in 2 Days - Substantially Over Survey Value

"Feedback from previous buyers and sellers led me to select Premier Properties.

Premier Properties Perth provided a turnkey service from initial discussion through to completion of selling my property. The team were delightful to deal with and very personable, making what is often described as a stressful situation, an enjoyable experience and I shall be using the team again in the future. Digitally, I was very impressed in the timescales the listing was turned around and placed online which resulted in numerous viewings and offers.

The level of professionalism towards all potential buyers was excellent. The communication levels are to be taken example from and any potential purchaser or seller needs to look no further for their property venture. Highly professional in the approach with regards to the negotiation of my property. Delighted with the outcome and, more importantly, finding the correct buyer for the property also.

The team is highly professional, positive, and supportive. Personally, I have worked alongside many global companies and can't remember a team with this much energy and positive attitudes towards customers, so I would personally like to highlight how much I respected the team throughout my experience.

Personally, I will never use any other estate agent based on the experience I received from PPP. The team at PPP has turned what was a daunting prospect into an enjoyable experience that got a positive result for all parties involved.

100% would recommend, no question."