According to a report by ESPC, solicitor estate agents are achieving higher prices for property sales in Scotland.
The research, which analysed more than 500 properties advertised for sale across Edinburgh, the Lothians, Fife, and Dumfries and Galloway, found that ESPC solicitor estate agents achieved an average of 108% of Home Report valuation, compared to 105% for non-ESPC agents.
This marks the fourth time that this research has been conducted, and the results have consistently shown a three percent advantage for ESPC solicitor estate agents.
The Home Report valuation amount, which is arrived at independently by a surveyor as part of the Home Report, was used to compare subsequent sales prices of the properties.
The study focused on properties advertised for sale in June 2022 and tracked them through to sales on the Registers of Scotland Scotlis website. This approach ensured that different agent pricing strategies were removed from the equation, ESPC said.
The difference in the percent of Home Report valuation achieved between ESPC solicitor estate agents and non-ESPC agents amounted to over £8,000 in monetary terms, based on the average selling price of a property in Edinburgh, the Lothians, and Fife, which is £273,906.
Paul Hilton, ESPC CEO, said: “The results have been independently verified and really do underline the true value in actual financial terms using an ESPC solicitor estate agent can make. Three per cent doesn’t sound like a lot in itself, but the reality is, this could be thousands of pounds to home sellers making a real difference in their lives.”
