How We Appraise Your Property
One of the most important decisions when selling your property is setting the price. Your local real estate agent will give a market opinion on inspection of your property which will provide a true estimate on price.
Be wary of an agent who tells you he or she can achieve a high price without substantiating it with fact. Always remember that agents interpret the market – they do not create it. Overpricing is the most common reason properties fail to sell.
The market opinion will be made based on evidence from:
a) Data sources, for example, property data
b) Recent advertisements
c) Recent sales negotiated by the office
d) Sales made by other agents; and/or
e) Any valuation from a registered valuer
It is important that you agree on the price set and that the agent believes it is realistic. If the price is unrealistically high, enquiry will be limited and the property will not sell.