Property valuation
Estimating a property's market value from its location, features and comparable sales.
In agency practice, a valuation (or market appraisal) means an agent visits the property and proposes a price range based on location, size, floor, aspect, age, title and planning status, and comparable listings and sales nearby.
A formal valuation, by contrast, is usually a report by a qualified valuer, for example for a mortgage lender. In everyday speech the two are often used interchangeably.
Why it matters for agencies
The valuation appointment is the first step to winning a seller instruction. Seeing the property rather than quoting over the phone is essential for both accuracy and trust.
Example
A seller asks what their home is worth. The assistant doesn't give a figure; it explains that an agent needs to see the property for an accurate price and books a free valuation.
Related terms
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