Introducing Hometrack

What is a Hometrack valuation?

Hometrack's Automated Valuation Model (AVM) is used by 18 out of the top 25 lenders in the UK as an integral part of their process.

Once you have provided the details for your property, the AVM will find nearby properties with similar characteristics.

Then, it uses powerful algorithms and local market evidence to estimate the value of your property, in today's market.

Finally, the AVM applies proprietary analytics to give you a valuation estimate and confidence level for your property.

Estimated capital value

This is the most probable sale price of the property in average condition, when sold on the open market. This is based on the information you provided, plus available market information on sales and mortgage valuations for similar properties in the local area, on the date of the valuation.

Capital value range

This is the range of values within which your property is likely to fall. It takes into account additional factors such as aspect and plot size. There is a 68% probability that the value of your property will fall within this range.

Confidence level

Hometrack's AVM provides an indication for the accuracy of each valuation, banded into high, medium and low. A high confidence level indicates that the valuation is likely to be more accurate.

Estimated rental value and gross yield

This is the most probable rental value per month when let on the open market. This is based on the information you provided, plus available market information on rental levels. Gross yield is the rent expressed on an annual basis, as a percentage of the estimated capital value.

Why can I have only one AVM report?

Hometrack charges £19.95 per for each AVM report purchased via their website.

Reades provides these free of charge, but since it still costs us to buy them from Hometrack, we limited the use of this service to one valuation per person.

If you require more than one valuation, you are welcome to contact us.

Is the Hometrack AVM accurate?

The Hometrack AVM offers an indication of the value of your property, based on the limited information you have supplied. It assumes that your property has a reasonable specification and is presented in good condition.

The AVM is not a substitute for a professional valuation and properties will only be entered to the market following a visit by one of our highly experienced and qualified valuers.

The Hometrack AVM cannot be relied upon as a valuation for mortgage, probate or marital purposes.

Available with Options 1, 2 & 3:

Free valuation visit

One of our experienced valuers will visit free of charge to assess your property and offer their professional opinion on its market value. The valuation visit also offers a great opportunity for you to find out more about the selling process.

Professional advice

Our valuers have years of experience in valuing and successfully selling properties. Having familiarised themselves with your property, they will offer their best advice to help you achieve a swift sale and the highest possible price.

Elements marketing (included)

This comprehensive marketing package is available at no extra cost and includes:

High quality staff photography
Detailed floorplans
Enticing write-up
Printable details
Global online presence on reades.uk, rightmove.co.uk & onthemarket.com
Local branch advertising
For sale board
Unique QR code across all marketing
Social media exposure across Facebook, Twitter, Pinterest and Instagram

Marketing bolt-ons (optional)

For a more bespoke approach, you can add one or more marketing bolt-ons, including:

(P) Professional photography
(P) 4-page brochure (PDF and print)¹
(P) Social BOOST²
360° Virtual Viewings¹
Elevated photography (mast)
Aerial photography (drone)
Aerial video (drone)
12-page brochure (PDF only)
12-page brochure (printed)³

For more details and pricing information, please speak to a member of the team.

(P) Included as part of the Premium marketing package

¹Only available in conjunction with professional photography

²Social BOOST offers the targeted marketing of your property advert to a tailored demographic, increasing its reach many times that of a non-boosted post. Social BOOST will likely generate a greater number of enquiries, helping your property to sell even more quickly and achieve the highest possible price.

³Only available in conjunction with 12-page electronic brochure

Premium marketing (optional)

Available for just £300, our Premium marketing package includes the three most popular marketing bolt-ons:

Professional photography
4-page brochure (PDF and print)
Social BOOST (first 4 weeks)

The Premium marketing package represents a saving of £100 compared to buying the three marketing bolt-ons individually.

What you see is what you pay, our fees include the VAT.

Arrange EPC

Your property will require an Energy Performance Certificate (EPC) to meet with current legislation and we can arrange this for you for just £95.

What you see is what you pay, our fees include the VAT.

Match buyers from database

We maintain a database of hundreds of qualified buyers and will match your property to suitable buyers even before it appears online.

Handle all enquiries

Our lines are open 24 hours a day, 365 days a year, and we never miss an opportunity to deal with an enquiry. Whether we speak to buyers on the phone, in person, or correspond electronically, all enquiries will be handled promptly on your behalf.

Qualify buyers' position

We understand how much effort is required to prepare your property for each viewing. You may have to arrange for the kids and the family pet to be out of the way, and even make yourself scarce if you have asked Reades to conduct the viewings for you.

To help ensure you are not wasting your time, we ask buyers a number of key questions to establish their circumstances and only arrange a viewing if they can afford and are in the position to buy your property.

This certainly doesn't stand in the way of us selling properties, quite the opposite in fact, but if you want us to offer viewings to people who are not yet in that position, we are happy to work on that basis - the choice is yours.

Available with Options 2 & 3 only:

Arrange viewings

You can provide us with your availability and we will arrange viewings to suit. Alternatively, we can contact you before arranging the viewing, so we can discuss the buyer's requirements with you and arrange a mutually convenient date and time. Unless you tell us otherwise, we will always give at least 24 hours' notice of a viewing taking place.

Accompanied viewings (optional)

At Reades, we only arrange physical viewings with applicants who have serious intent and only after we have confirmed their buying position (see our Viewings Policy for full details).

By doing that extra work up-front, we successfully reduce the unnecessary footfall (and therefore the risk) and find, on average, properties sell after just five to eight physical viewings!

Whether you're too busy to conduct your own viewings, or you just prefer not to conduct them yourself, our professional Viewing Representatives are fully trained and DBS checked and will be happy to conduct the viewings for you, from 8am till 8pm, 7 days a week.

We can conduct all your physical viewings if you wish, or just the ones you can't make, it's entirely up to you. As for the cost, well it's just £300 for a pack of six viewings, payable in advance, and any viewings you don't use will be discounted from the final fee on completion, at a rate of £50 per viewing.

What you see is what you pay, our fees include the VAT.

Access to online account

Accessible 24/7 from any internet-capable device, your online account offers a window into the Reades system, allowing you to track marketing stats, see viewings as they're booked, review viewing feedback, consider offers and even track the progress of your sale. You can also track your onward purchase if you're buying through Reades.

Instant feedback

Accessible via your online account, you will receive proper, four-point feedback, including what the viewers liked about your property, what they perhaps didn't like so much, their opinion on the market value and what we plan to do next on your behalf. If you prefer to receive a call to discuss the feedback, we will be happy to oblige.

Regular marketing reviews

Our team will be in touch on a regular basis to offer marketing updates, discuss recent viewings and feedback, and offer an insight into how the market is performing in your area.

Advice on marketing strategy

The housing market can be very dynamic and our team is best-placed to formulate a sound strategy to help you get your property sold and achieve the highest possible price.

Register all offers

Unless you specifically instruct us otherwise, we are obliged to let you know about every offer, even if that offer is well below the asking price.

To make sure you find out as soon as possible, we normally call to discuss offers in the first instance. If you have already rejected an offer verbally, we still have to write to you to confirm the offer, so don't think we're trying to encourage you to accept it and please don't shoot the messenger!

Negotiate the best sale price

Our Negotiators are highly trained professionals who have your best interests at heart. As your agent, we are charged with negotiating the highest possible price for you and that is precisely what we will do.

Evidence buyers' position

Great news! We received an offer at an acceptable level, so we just phone it through to you now, right? Definitely not.

Every year around one in four of all the sales agreed in England and Wales fall through. There are many reasons for this, some of which are unavoidable, such as job loss, illness or relationship break down, but many are due to the buyer not actually being in a position to buy.

Reades operates a thorough due diligence process and before we submit an offer to you, we ask buyers to provide evidence of their position. Cash buyers must prove they have access to the funds, those buying with a mortgage have to provide a copy of their mortgage agreement in principle or confirmation from their Financial Advisor, and buyers who are sale dependent (they have to sell theirs to buy yours) need to have accepted an offer, or have an offer pending.

When you accept an offer through Reades, you can be safe in the knowledge that we have done everything we can to ensure your sale completes successfully.

Check the buyer's chain

Very often, a buyer will have to sell their own property before they can buy yours.

If Reades is selling their property too, we will already fully understand their circumstances. If not, we will contact their agent to establish their buyer's position and even their buyer's, buyer's position if they are part of a multi-sale chain.

We will keep track of the chain as your sale progresses and make sure you're fully informed, every step of the way.

Draft memorandum of sale

The memorandum of sale is a document detailing all the important points of the sale, including your name, the name of the buyer, the details of both yours and your buyer's solicitors, the sale price, the date the sale was agreed, an approximate timeframe for exchange of contracts and any special conditions pertinent to the sale.

We draft this important document on your behalf and send a copy to all parties and their solicitors, to ensure everyone is on the same page.

Liaise with solicitors

The legal process of conveyancing (transferring ownership from one party to another) takes, on average, around 6-8 weeks, but can take longer depending on the circumstances. Our dedicated Progression Team will liaise with both yours and the buyer's solicitors along the way and provide updates to everyone involved.

Deal with surveyors

Most property purchases involve some form of survey, especially if they are being funded with a mortgage. We recommend asking the surveyor to collect keys from Reades for access. As well as being convenient for you, this also provides an excellent opportunity for us to talk to the surveyor about how the market is performing in your area and what similar properties have recently sold for, to help support the value of your sale.

Regular sales progression updates

A sale can easily be lost due to poor progression.

Our dedicated, highly experienced Progression Team is there to keep things on track and will ensure that both you and your buyer are given the right advice, and updated every step of the way.

You can monitor the progress of your sale 24/7 via your online account, and your onward purchase too if you are also buying with Reades.

Progress sale to completion

Congratulations, your sale has completed!

We understand that you are likely to be somewhat preoccupied on sale day and to help make things easier for you, we can arrange for the buyer to collect keys from our office. After weeks of talking on the phone or communicating via email, this also gives our team a great opportunity to congratulate your buyer in person.

To help mark this special day, we offer a chilled bottle of bubbly and a new home card to your buyer, before shaking their hand and sending them on their way to their lovely new home!

Available with Option 3 only:

No sale, no fee

We won't charge you anything for our estate agency service until we have successfully sold your property.

A bit about Reades

Over 85% of the new sales and lettings instructions we receive are repeat business, either from previous clients using Reades again, or from those clients referring people they know to Reades.

Reades is an independent, family-owned Estate & Letting Agency - Helping people move since 1999.

Our terms & conditions in brief

Option 1 - Hybrid Agency

There is no tie-in period with this service - you can choose to remove your property from sale at any time.

With the Option 1 - Hybrid Agency service, Reades will provide 18 months service from the first day of marketing, or until your property sells, whichever is sooner.

When receiving enquiries from prospective buyers, Reades will obtain their contact details, verbally confirm their buying position and forward this information to you via email. You will then be responsible for contacting prospective buyers, arranging and conducting your own viewings, negotiating your own sale and progressing it to completion.

A fee of £995 is payable for Option 1 and is non-refundable in the event you choose to remove your property from sale, or in the unlikely event your property remains unsold after 18 months. After the initial 18-month term, you can choose to continue marketing on six-monthly contracts for a charge of £295 per six months.

Reades reserves the right to remove your property from sale in the unlikely event it remains unsold after the initial 18-month term and to disallow further marketing extensions.

If you choose to remove your property from sale, you can do so at any point with no notice period.

What you see is what you pay, our fees include the VAT.

Option 2 - Full Agency (split the cost)

There is no tie-in period with this service - you can choose to remove your property from sale at any time.

Reades will provide the service until your property sells, or you decide to remove it from sale, whichever is sooner. If you choose to remove your property from sale, you can do so by giving 14 days' notice in writing.

Reades reserves the right to remove your property from sale in the unlikely event it remains unsold after 18 months.

An up-front fee of £995 is payable for Option 2 and is non-refundable in the event you remove your property from sale, or Reades exercises its right to remove your property from sale after 18 months. An additional sale fee equivalent to 0.6% of the sale price is payable upon completion of your sale.

What you see is what you pay, our fees include the VAT.

Option 3 - Full Agency (no sale, no fee)

The tie-in period for this service is 12 weeks.

Reades will provide the service until your property sells, or you decide to take your property off the market, whichever is sooner.

A fee equivalent to 1.2% of the final sale price is payable upon completion of your sale.

If you choose to remove your property from sale, you can do so by giving 21 days' notice in writing. If you choose to remove your property from the market during the tie-in period, our fee will be payable in full. In the unlikely event your property remains unsold at the end of the tie-in period, you can choose to remove your property from the market with no charge and the same notice period applies.

What you see is what you pay, our fees include the VAT.

For full details of our Terms and Conditions, please refer to your Agency Agreement (supplied prior to instruction).

1. Introduction and General Terms

We are committed to protecting the personal information you provide when signing up to and using Our Valuation Tool. This Data Protection Policy relates to Our use of any personal information We collect from you via the Valtool.

This Data Protection Policy explains the following:

what information We may collect about you;
how We will use information We collect about you;
when We may use your details to contact you;
your choices regarding the personal information you provide to Us.

We are committed to safeguarding your personal information and complying with Our legal obligations to hold and use your information in-line with all applicable laws.

2. Who are Reades?

Reades Ltd (company number 0458814) is a property sales and letting agency. References to "We/Us/Our/Reades" throughout this document are to Reades Ltd. Our Valuation Tool is a tool which We have devised to enable you to obtain a guideline valuation of your property free of charge.

3. What information will Reades collect about me?

When you sign up to the Valuation Tool to receive your free property valuation, you will be providing certain personal information to Us. This includes your name, postal address, email address and phone number.

4. How will Reades use the information it collects about me?

We will use the personal information collected when you sign up to or use the Valuation Tool for the following purposes:

to provide you with your bespoke property Valuation Report (which you can request to be sent via email using the link under the valuation); and
to contact you to offer our products and services in connection with the Valuation Report, such as helping you to interpret its contents, or to provide you with information about Our sales and lettings products and services and how We can help you sell or let your property.

We will not share the personal information which we collect via the Valuation Tool with any third parties other than where We are required to do so by law. The only information which We will share is the address details of the property on which you wish to obtain a valuation. This information is shared with our appointed third party property valuation agency, so that they can provide a valuation of the property and for no other purpose.

5. When will Reades contact me?

We will contact you:

to provide you with your bespoke Valuation Report (which you can request to be sent via email using the link under the valuation); and
to offer our products and services in connection with the Valuation Report, such as helping you to interpret its contents, or to provide you with information about Our sales and lettings products and services and how We can help you sell or let your property.

6. Will I be contacted for marketing purposes?

By signing up to receive a free Valuation Report, you agree to receive Reades marketing communications as discussed in paragraphs 4 and 5.

If you wish to withdraw your consent to receiving these marketing communications at any point you can do so by notifying us using the contact information set out below.

7. How long will Reades keep my information?

We will hold your personal information on our systems for as long as reasonably necessary in order to provide you with the relevant services, or until you inform us that you want Us to delete your personal information (whichever occurs first).

8. Can I delete my information?

You can request that We delete your personal information by contacting us in writing using the contact information set out below.

Deleting your data may mean that We will no longer be able to provide you with Our services.

9. Can I find out what personal information Reades holds about me?

You have the right to:

request a copy of the personal information We hold about you;
to have any inaccuracies corrected;
to request that we modify or update information held about you, or;
to have the information deleted in full.

Please address requests and questions about this or any other question about this Data Protection Policy to:

The Data Controller
Reades - Hawarden (Head Office)
Reades House
3-5 The Highway
Hawarden
Flintshire
CH5 3DG

You can also send any enquiries electronically to data@reades.uk.