What is an estate agent’s valuation?
An ‘estate agent’s valuation’, also known as an ‘assessment of likely market value’ or even a ‘CMA’.
In essence it is an estate agent’s assessment of the price buyers will likely pay for a particular home in its present condition (which are known to the estate agent such as defects, servitudes, title conditions etc), in the prevailing economic environment; based on present buyer behaviour trends.
As a seller you need a property professional who with thoroughly assess your home, look at title conditions, determine present buying trends in the immediate area, assess competing properties; and then craft a unique marketing plan for your home with a well researched opinion on the optimum selling price (which ironically is not always the highest – since asking too much for a property will only lead to frustration, inconvenience, delay, and even the erosion of actual value).
A SELLER will set the listing or SELLING PRICE but its the BUYER who will ultimately determine the SELLING PRICE.
A buyer sees your property differently than a seller and this affects what factors they use to assess the value of the property to them. A buyer will, for example, little or no weight to the following considerations, which are important to seller:
- What the seller thinks the property is worth;
- What the seller bought the property for;
- How much they spent on the property;
- What the seller needs to settle the bond (or meet other financial obligations);
- What the seller would like to realize to meet so goal (like to buy another home);
- Or even what the seller’s opinion as to value.
I believe it’s because they, in most cases, have a very strong personal or emotional attachment to the home. It does, however, represent the biggest financial asset to many people or it may be the one thing offsetting a substantial home loan (and the anxiety many feel towards that a sizeable commitment).
This is why as a professional estate agent, I assist my clients by:
- providing key market information on recent sales and sales in progress and more importantly, putting that information into context;
- determine the threat posed by properties presently on the market;
- assisting with analytics;
- trend analysis (national, regional, metropolitan, suburb, and even to street level);
- analysis of value offered by the home (many times uncovering value);
- leveraging other professionals (like sworn valuers, conveyancers, etc);
- collaborating with professional bodies;
- collating future area developments;
- assessing title deed provisions, servitude, and other legal factors;
- determining the viability of improvements to unlock further profits; and
- analyzing and predicting – based on present buyer behaviour;
amongst many other factors.
As a professional real estate practitioner, I focus on the details which can be overlooked and this allows me to get a very clear idea of the property’s maximum price potential, and the strategies and tactics will secure not only an optimal price but also on the best terms possible.
What is the process?
- Click on the link below and complete the form – it will request contact information – please provide the address of the property you would like valued in the comments section;
- My office or I will make contact with you to arrange a viewing – yes, I do need to see the property because so much value in a modern home lies in its finishes;
- We do the valuation which takes about 20 – 60 minutes depending on the home;
- I will prepare a valuation for you and it will be emailed to you, usually within 24 hours of the site visit;
- I do suggest that meet face to face to discuss the valuation because it is a means to an end, not the end in itself. The valuation allows you to make an informed decision and in that lies its value.
Having come from a legal background I see my role more as a trusted advisor rather than as merely a salesperson. This approach provides my clients with the benefits that they:
- Get frank and honest advice;
- They get the benefit of a thorough research and analytics;
- Our focus on the client relationship, rather than sales volumes means that advice is client focussed and not driven by chasing targets;
- My experience and qualifications provide peace of mind to clients that I have been tested and found competent;
- They have a professional in their corner.