Independent House Price Valuation - Sellers
No matter how you decide to do your sale, either through an Estate Agent, yourself or at auction - always carry out your own independent property valuation / house price valuation first. This helps you to estimate how much your house is worth and where to set the asking price. Chartered Surveyors not Estate Agents carry out independent valuations.
Estate Agents provide a marketing service for your property; they don't provide underwritten valuations. It is a common misconception that Estate Agents value your property for you; they simply give you a very intuitive estimate of what they think your house is worth. Moreover, their estimates might be influenced by their motivations; they might set the asking price too high to secure your instruction or too low to obtain a quick sale.
It is perfectly possible for you to perform your own house price valuation by comparing the prices that similar properties in similar locations have been sold for recently.
Estate Agents generally adopt a similar approach to house price valuation. Except they will usually go to a site like Rightmove or Globrix and obtain a list of property for sale in the same area with a similar specification (type, style, bedrooms, garden, ensuites, garage etc.) The most difficult property to arrive at a house price valuation for are where there are few or no similar properties. Here you may be forced to look at a wider area to find a similar property and look at price differentials for the unique features compared to a more "standard" property.