Key point
One agent recommends a price; another suggests a much higher figure. Both say they know the local market. Which should you choose? Before accepting the number you prefer, ask each team for the same information: the properties used for comparison, the floor area behind the calculation, the facts they have checked and the strategy behind their suggested price.
Why do agents value the same home differently?
The highest valuation is not automatically inflated, and the lowest is not automatically prudent. A useful assessment explains its range, identifies what still needs checking and gives you a basis for deciding when to list, negotiate or review the price.
Agents may select different competing properties, use different definitions of floor area or assume a condition they have not inspected. They may also be answering different questions: what to ask in the listing, what an offer could reasonably be based on, or which strategy fits the owner's timetable.
A disagreement does not, on its own, demonstrate incompetence or bad faith. It does need an explanation. Saying that there are buyers waiting is not a substitute for evidence. Nor does the amount you need for your next purchase establish what someone else will pay for this property.
Simply averaging three estimates can preserve the original problem. If one includes a garage in the floor area and another compares the accommodation alone, an average will not make the underlying calculations consistent.
Separate the asking price, market assessment and bank valuation
The Banco de Portugal explains the role of property valuation in mortgage lending. If your buyer needs a mortgage, establish what has been approved and what remains outstanding. Our guide to bank valuations in Portugal explains the issue in more detail.
Banco de Portugal explains the role of property valuation in mortgage lending
- Asking price: the amount the owner chooses to advertise. An allowance for negotiation needs a reason and a limit.
- Commercial assessment: an evidence-based estimate used to prepare a sale, with assumptions and uncertainties. It is neither an offer to buy nor a guaranteed sale price.
- Bank valuation: an assessment of the property offered as security for a mortgage. Its result may differ from the price the parties agree.
Six questions that reveal the basis of a valuation
1. Which properties were used, and why?
Ask for identifiable examples and the assessment date. The same municipality and number of bedrooms are not enough. Street, outlook, orientation, floor, lift, parking, noise and condition can attract different buyers. A property advertised for months may show the owner's ambitions without proving demand at that price.
2. Are these listings or completed transactions?
Separate current competition from sales with a known completion price. A listing that disappears may have sold, been withdrawn or moved to another agent. Ask where each figure comes from and what can be verified. Several advertisements for the same home are not several comparable properties.
3. Which definition of area is being compared?
Keep private gross area, dependent areas, land and outdoor space separate. Portuguese documents may use área bruta privativa for private gross area and área bruta dependente for dependent areas. Apply the same measure to each comparison. A garage or terrace has value, but should not be quietly absorbed into a total described as living space.
4. Has the condition been checked or assumed?
Photographs do not establish the quality of a renovation. Record damp, required work, occupation, condominium costs and unresolved differences in the documents. Ask the agent to distinguish confirmed facts from assumptions.
5. What timetable and conditions does the figure assume?
Request a separate estimated range, launch price and approach to assessing offers. If the plan is to test the market, agree what will be tested: the presentation, the information collected and the review date. A review date is a management decision, not a promise to find a buyer.
6. Who follows up after the listing goes live?
Find out who answers enquiries, arranges viewings, records objections and reports back. Listing impressions, enquiries, viewings and offers are different stages. Duplicate enquiries or people without a workable budget do not have the same meaning as buyers ready to proceed.
How a €450,000 apartment can have the higher price per m²
This is a fictional calculation, unrelated to actual listings or valuations. It illustrates the effect of the area used.
| Item | Apartment A | Apartment B |
|---|---|---|
| Asking price | €450,000 | €480,000 |
| Private gross area | 120 m² | 130 m² |
| Dependent area, listed separately | 30 m² | 20 m² |
| Price / private gross area | €3,750/m² | About €3,692/m² |
If A's listing combines the two areas as “150 m²”, its advertised calculation becomes €3,000/m². Using private gross area gives €3,750/m². The apartment has not changed; the denominator has. With one consistent measure, A has a slightly higher price per private square metre despite its lower overall price.
That does not prove B is a better purchase or A is overpriced. Location, quality and dependent areas still matter. It shows how a precise-looking comparison can rely on incompatible inputs. See how to set a property asking price in Portugal for the wider process.
Put the proposals on one comparison sheet
For each agent, record the estimated range, proposed asking price, comparable properties and source of their prices, definition of area, unresolved questions, included work and review date. Add fees including VAT, payment timing, exclusivity and the tasks you will perform yourself.
An agent proposing a higher figure may have identified advantages another team missed. Ask to see them. A lower estimate also needs an explanation: calling it realistic is not evidence. Look for reasoning you can understand and a service that provides the support you actually need.
If a substantial disagreement remains, isolate the question before ordering another opinion. Is the problem the area, condition, documentation or choice of comparable properties? A third figure that leaves that question unresolved may simply create more uncertainty.
When should you review the asking price?
Agree a point at which to review the listing and enquiries, taking account of the property and your urgency. Examine the sequence: did the listing reach relevant people? Did enquiries lead to viewings? Which objections recurred? Were there offers with concrete terms?
If hardly anyone reaches the listing, check distribution, photographs and information. If people view but do not offer, compare their feedback with the alternatives they can buy. A price change may be appropriate, but first correct inaccurate information and identify whether the obstacle is price, presentation, viewing access or the proposed sale terms. Changing everything at once makes it harder to learn what helped.
Compare net proceeds and the work included
The highest advertised price is not necessarily the best outcome. To compare agency services, use the same hypothetical sale price and deduct the relevant fees. Account separately for outstanding mortgage debt, other expenses and taxes that depend on your circumstances. Then assess timing, finance conditions and the likelihood of completing each purchase offer.
IMOJA's Online Sale service costs €499 including VAT for one property and 90 days from first publication. The owner supplies photographs and conducts viewings. The fee pays for the service even if the property does not sell. To delegate more tasks, compare the Full Service options and applicable conditions. Consider responsibilities alongside price.
What to prepare for a more useful assessment
Gather the location, property type, floor areas with their definitions, current condition, photographs and information about parking, lifts and outdoor space. Include your target timetable, whether the property is occupied and any differences you know about between the documents and its current layout.
If you have several estimates, describe the figures and the reasoning supplied with each. The aim is to establish why they differ and what is still needed for a selling decision, rather than deciding in advance that one end of the range must be right.
Frequently asked questions
Should I choose the agent with the highest valuation?
First establish how the figure was reached. Compare properties, floor areas, condition, timetable and contracted work. A higher estimate may be justified, but an estimate alone does not secure an offer.
Will averaging the valuations resolve the disagreement?
It will not fix incompatible assumptions. Align the definition of area, comparable properties, assumed condition and purpose of each estimate before interpreting the ranges.
Is IMOJA's initial assessment free, and must I use its service?
The initial request and commercial assessment are free and do not create an obligation to hire IMOJA. The team may need more information before suggesting a range. Any selling service is proposed separately with its scope and terms.
Does a commercial assessment replace a bank valuation?
No. It helps prepare a possible sale. A mortgage valuation has a separate purpose. IMOJA's assessment does not replace that report or independent technical, tax or legal advice.
Different estimates? Start by understanding the difference.
Request an initial commercial assessment from IMOJA. Describe your property and the differences between the estimates. We reply by email and explain any missing information before suggesting a next step.
No payment or obligation to hire at this stage. A value range can be discussed when the available information supports it.
Official sources
Rules and data can change. Check the latest version of each source and how it applies to your property and transaction.
Received different valuations for your home?
Send IMOJA the property details, the estimates and the assumptions behind them. Start with a free initial commercial assessment before choosing your asking price and selling service.
Request an initial property assessment ↗︎