Remote Valuations: Accurate or Untrustworthy?

Remote Valuations: Accurate or Untrustworthy?

31st May 2021 < back to archive
Remote Valuations: Accurate or Untrustworthy?

Location, size, and local property prices are important factors in valuing a property for sale but there’s more to it than that, which is why it is important to get an accurate valuation from an estate agent.

There are the factors that are unique to your property and there will be agents out there who tell you they have to see the property physically to value it, but the property market’s resilience during the COVID-19 pandemic has proven that we are just as accurate when valuing your home remotely.

There are certain situations that could affect this, such as a derelict property or a commercial building, and home reports certainly need carried out in person. For the most part though, it is both possible and highly accurate to do an estate agent’s valuation remotely. At House of Highland, we have had much success selling island and mainland properties through virtual valuations on apps like Zoom or Microsoft Teams – in record time and at a price the vendor hadn’t even anticipated was possible.

Some sellers are wary of remote valuations because in traditional estate agency practice it was commonplace to physically visit a home to value it. Estate agency, just like any industry is constantly evolving. If you are one of those homeowners, ask yourself, ‘why am I wary?’. What is it that’s preventing you from trusting the modern process? And then ask your agent what their experience of selling remotely is. After a year of remote valuations they should have got it down by now.

There’s nothing we would see in person that we cannot see in a video call. If the agent knows the local area well enough, and much of our up-to-date knowledge comes from insight from the major property portals as well as our local knowledge, there is nothing that should be preventing them from doing an accurate remote valuation. Video valuations are certainly a new way of working but new absolutely does not equate to incompetent or untrustworthy.

Bear in mind, in the Victorian era there was much wariness and controversy surrounding train travel, which was new and unnatural to them. For many years people believed the human body could not withstand speeds on a train of above 30mph as we would simply stop breathing due to the fast air moving past us. I get it, it was new for them. But in 2020 we had 1.74 billion train journeys in the UK alone, all travelling at an average of 65mph and some reaching 130mph on main lines, and nobody suffocated on the fast moving air…

Our success in selling your home is down to the skills of the agent, the agent’s local knowledge, and the reach of the agency’s online capabilities to connect with a wider audience when advertising your property. Every moment spent discussing your property needs on a video call is just as valued to us as an in-home valuation appointment. The key is finding an agent who is confident they can sell your home for a good price and in good time, and an agent who is comfortable using modern technology is more likely to utilise the major property portals such as Rightmove and Rightmove sees 127.5 million views per month.

The first place most buyers go to look for a property is online, so you need an agent who is comfortable showcasing your property through the channels required of the modern property industry, and remote valuations and viewings is a big part of that in our current climate. If you are in a remote area or it’s more convenient to take a call, House of Highland is highly skilled in valuing your property remotely.

An online valuation does not mean a poor service either, as we blend traditional office service with modern online services, and if you want us to come out and see you, we will. Our photographers and surveyors will come out to visit you too, and you’ll have as much or as little contact time in person as you’d like. If you like tradition or if you like something new, get in touch and we will get you moving in the 21st Century.

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