value of a real estate valuation

The value of a proper real estate valuation

As anyone who has ever sold a property knows, one of the first questions most owners ask when selecting a real estate agent is how much that agent thinks the property is worth. However, one of the most misunderstood aspects of selling a home is that the agent’s opinion is NOT a real estate valuation. It is an opinion of the likely selling price, and nothing more.

An accurate real estate valuation is important

One of the most common mistakes that many vendors make is to rely solely on the price estimate placed on their property by the selling agent, or worse still, relying purely on the value they place on their own home. As we mention in our free book, “Fatal Real Estate Traps Exposed”, it is important that you know the true market value of your property in order to place it on the market with the right buyer enquiry range from the start.

A real estate valuation can save you time and stress

Once you know the right price range for your home, you can then focus on ensuring that as many people as possible in the right group of buyers know that your property is available. That’s how you create maximum interest, maximum competition and, of course, a maximum price. Importantly, knowing the right price from the start means you don’t waste the critical first weeks on the market when the impact of your marketing is at its highest.

Why a sworn valuation is different

The team at Ian Reid Vendor Advocates recommends that you obtain an independent real estate valuation, (often referred to as a sworn valuation), to assist in setting the right price. A qualified Valuer is independent from the agent, and has no hidden agenda that might encourage them to price your property too high or too low. Remember, the vast majority of agents in Victoria have absolutely no formal training in property valuation whatsoever.

If you have any questions about getting a real estate valuation, or any other query related to the current property market, don’t hesitate to give us a call on 9430 0000.

Leave a comment

Your email address will not be published. Required fields are marked *