Should I avoid a free commercial property valuation?

Solihull commercial agent – Shepherd Commercial – speaks on whether to avoid a free commercial property valuation

Is a free commercial property valuation worth it?

It depends, but generally, a free commercial property valuation should do nothing more than give a client a ballpark figure of the value of their commercial property with no further intention.

The reason for the ‘it depends’ is mainly as their are a few factors which dictate whether a valuation being free is actually worth the time.

Expertise and experience is crucial and surveyors are not willing to spend their days valuing assets for free without the potential of further work. Anyone offering a free valuation is more than likely attempting to generate work through further instruction.

Should I use a RICS Commercial Valuation or an Estate Agent?

Typically, RICS valuations are both more complex and expensive than a standard report given by an estate agent. You should use an RICS valuation wherever possible but it is not essential for listing a commercial property to the market (unless required by case).

Generally, an estate agents report will mark higher than a RICS valuation report as they seek to become instructed to market the property.

And how much does a valuation cost? Our blog here delves deeper

Is a local estate agent better than a national?

National agents tend to have a higher level of expertise along with more resources at their disposal, which incurs a higher fee. However, local estate agents will have more knowledge of the immediate market of an area and charge a lower figure.

In our opinion, we’d recommend a dominant local estate agent. These are agents which are not national but dominate the local market due to their expertise, quality of service and professionalism. Almost a goldilocks zone of commercial estate agents.

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