Discover the difference between a market appraisal and a valuation

Do you know the difference between a market appraisal and a valuation? When you're considering selling a home, the first step is commonly described as booking in a 'valuation.' But sometimes, you'll see it called a 'market appraisal.' Let's look at the differences between these two terms.

What is a market appraisal?

Most people book a valuation through an estate agency so a professional can visit their home and recommend a marketing price. However, technically, they’re booking a market appraisal.

Because people selling a home typically refer to this process as a valuation, and that’s what they are looking for when they book us in, we use the term ‘valuation’ as a shorthand for the market appraisal service. We want our sellers to achieve the best price for their property sale.

So, whether you call it a market appraisal or a valuation, if you book with Rolstons, an experienced Valuer with a practised eye will gauge your property’s condition, location, unique features, etc. They have done research beforehand, so they can draw on cutting-edge data and their robust knowledge of the current market to give you a reliable recommended price you can rely on to list your property for sale. Then, you’ll sit down together, and they’ll talk you through their custom marketing strategy for selling your property.

So, what is a valuation?

A full property valuation happens when, for example, a bank looks at a property someone’s buying to lend on a mortgage, or the assets are being separated in a divorce, or when settling an estate. A qualified RICS property surveyor carries it out.

A market appraisal from an estate agent wouldn’t be suitable for legal purposes like these. The surveyor will provide a much more in-depth look at the property's condition in a full, paid valuation. They will not, however, account for how an estate agent could market the property’s unique features to the right buyer. They are not tasked with developing a marketing strategy around selling the property that would affect the number they produce. That’s why a market appraisal is best if you’re planning to sell.

Does it cost me money?

A Rolstons market appraisal is completely free. You will have access to market and property insight from a local expert. You can ask all your questions about the sales journey and get reliable answers, and you’ll have a path forward if you choose to sell – all without paying a penny.

Valuations, such as a mortgage valuation or survey by a qualified RICS property surveyor, cost money to produce, which differs depending on the surveyor and survey type.

Book your market appraisal with Rolstons today

If you want an expert to appraise the value of your property in order to get you the right price to sell in the current market,  book your valuation or market appraisal (they are one of the same) here or call us on 01923 775000.

However, if you'd like to talk to an agent for more personalised advice, our team are always on hand to help. We'd love to hear from you, whether just a quick chat or a no-obligation property valuation.

Warm wishes,

The team at Rolstons.