In the past two years, house sale prices have skyrocketed, with low inventory. Recent CoreLogic statistics show a 32% increase in housing values across regional Australia and 20% in capital cities.Â
No matter where your property is, the market has been extremely lucrative for sellers since 2020. It still is, although itâ€™s predicted to slowly settle.Â
The first and most important question is: â€˜how much is my property worth?â€™
This number is a tool, a compass, to guide your decision-makingâ€¦ to decide if you want to sell, to set expectations, to understand if an agentâ€™s offer is sufficient, and to accept or reject offers.Â
And also, to give you confidence in the house selling process.Â
Inform and empower yourself, especially if you havenâ€™t sold a house before. Knowing your propertyâ€™s value can help you secure a higher sale price. The house valuation is a worthwhile step that can â€˜pre-saveâ€™ you tens of thousands of dollars.Â Â
Thereâ€™s a myriad of factors that influence a property appraisal. While value calculations are grounded in real-time data, theyâ€™re also subjective by nature.Â
What we mean by this is that value is in the eyes of the beholder. Sellers and prospect buyers mightnâ€™t share the same view (and value) of the property. This alters the perceived price.Â
A property is only worth what someone is willing to pay for it.
This is why finding the top-performing real estate agent to represent the property is the single best decision you can make.Â
Just as thereâ€™s no one set value for all parties involved, this price also isnâ€™t fixed. The value of a property changes with various external forces.Â
As a seller, thereâ€™s plenty of things you can do to boost the perceived value, pre-sale.
There are also many factors outside of your control â€” such as the market conditions, local noise or traffic, construction projects, and the economic profile of the area.Â
What you can control is:Â
The quality of the propertyÂ
Improvements and new additionsÂ
Kitchen and bathroom renovationsÂ
Upgrading tapware and appliancesÂ
Extending living and entertainment areasÂ
As a general rule, you should get a property valued every three months.Â
While the property type, characteristics and location mightnâ€™t change, the value will be influenced by recent comparable sales in the area and market trends (state and suburb). Remember, the valuation is always just an estimate.Â
The difference between an estimate and valuation is the accuracy of the price. For example, anyone can make an estimate, based on individual research. You could look at all the current data, including the sale prices in your area â€” the region, suburb, and street.
However, only a licensed property valuer can make a valuation. Itâ€™s a legally binding valuation, also used by banks to determine the lending amount. For this reason, a valuation is more conservative than an estimate.Â
Estimates are used by real estate agents to help inform the asking price. Not bound by law, estimates set the bar on what the property is expected to sell for. This, of course, can be higher or lower on sale-day.Â
You have options. You can go directly to an agent, a state licensed valuer or through banks. You can type â€˜property reportâ€™ into Google and fill in your details, visit a property valuation website or even do it yourself.Â
The challenge with speaking to a local agent is you canâ€™t guarantee theyâ€™re the best person to represent your property. Likely, theyâ€™re not.Â
And doing it yourself, youâ€™re likely to miss important things. You donâ€™t know what you do know.Â
Itâ€™s easy to feel overwhelmed by the sheer number of websites. It can be impossible to know which one to use. Comparative websites are effective, but you donâ€™t want to be inundated with calls and emails from just any agent.Â
At Agent Select, we do things a little differently.Â
With our sophisticated algorithm, we find you the top three performing real estate agents in your local area. Rather than sharing your details with agents hunting for a commission â€” like other comparative websites â€” we put you in control.Â
We give you the three best options for you to decide who to contact, negotiate the most desirable terms, and ultimately, to choose to sell your property.Â This is empowered selling.Â
Step 2: Our property expert will give you a call to discuss your situation.Â
Step 3: Weâ€™ll identify 3 top performing local real estate agents in your area and present it to you.
Step 4: Youâ€™ll speak to the top agents and choose your favouriteÂ to do an accurate property appraisal.
Step5: Once you're happy with the appraisal from the selected agent, the property will be listed for sale.
Weâ€™ll stay by your side, until the successful sale.Â
Free & independent. We exist to shift the power disparity.Â To enjoy the house selling process and secure the highest possible sale price.Â
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