CAUTION WHEN GETTING A FREE REAL ESTATE APPRAISAL
Who should I get an appraisal from?
When selling, it is often your biggest investment that is on the line. Having an accurate property appraisal is one point that determines how well or poorly you will do from the sale.
Sellers should expect a free property appraisal to be prepared with integrity, good data and based upon quality information but, unfortunately, they don't always get this from a property agent.
If you're in a rush to get listed with an agent, you will find the same day Express Service the safest way to find the best real estate agent.
Undue pressure is not okay
Any agent in your area can provide a free property appraisal, but the quality and integrity of the appraisal is where many property sellers can be misled.
One of the bigger real estate industry problems, in our view, is that some agents over-estimate a property's value so that you will list with them.
What often follows is disappointment, price reduction pressures, a long drawn out sale timeframe, or no sale at all. We know this because many people have sought our help following these events.
Day one live on line is the most important day of your marketing campaign, so having an accurate price range from this point is imperative.
Real Estate Agents, providing unrealistic valuations, can make it hard for you to say no, even if you're not ready to sell or don't have a good vibe about them. The Real Estate Agents Authority has made 'undue pressure' a conduct issue worthy of complaining about.
It is important to know that property appraisals must be provided to you in writing and any recommendations must be backed up by data to enable you to make properly informed decisions. A verbal appraisal is never acceptable.
Options for establishing a sale price for your home
Correct valuation information from trustworthy sources is critical and there are three main options:
- The free online valuation option which uses algorithm-data-only from a variety of sources and do not include any property improvments you may have made that add value. The least reliable in our view.
- An independent market valuation by a registered valuer, based on an inspection of the property is the most reliable way to establish a sale price in our view.
- A comparative market appraisal (CMA) by a real estate agent. This is free to get done but expensive if it's incorrect so only get a CMA from a vetted agent.
Some sellers rely only on a CMA and some use all three options to help determine their property's value. Using all three is a relatively cheap way to help establish a realistic price and can give better reassurance about price expectation.
NOTE: If a property sale price is unrealistic, no matter how perfectly you do everything else, it will either not sell at all, or is likely to be continually price-reduced until it does. Get this sorted before the get-go.
The safest way to choose a real estate agent
In response to these and other issues facing real estate consumers, professional vetting of agents was founded by us in 2009. This provides sellers with access to agents that meet the vetting criteria.
This service is provided completely free to sellers, and there is no obligation.
Our model of vetting agents, evolved over nine years, has proven to be the safest method to find the right real estate agent, quickly and painlessly.
We will recommend to you, two to three real estate agents from different companies that have been vetted and short listed by Agent Finder, to each provide you with a free, comparative market appraisal.
Contact Us first - Agent Finder NZ is free and 100% independent
Updated July 2, 2017
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