The importance of an accurate property appraisal

If you’re planning to sell your home or your investment property, the perfect place to start is a property appraisal. There are thousands of real estate agents in Auckland all happy to offer you a “Free” appraisal, but that doesn’t mean it will be an accurate one. It’s essential you choose an experienced agent to establish an accurate sale price, or you risk costly compromised results. 

As part of an appraisal, the real estate agent providing the report will provide a list of comparable homes that have recently sold, as well as those currently on the market in your immediate area. Choosing an agent without an excellent sales history or local market knowledge can be detrimental to your real estate experience. Here are a few reasons why:

One of the main reasons a property doesn’t sell is because the expected sale price is not achievable, even in the hands of a competent real estate agent, regardless of the fees and commission they charge. This can be because the agent has provided an inaccurate appraisal price. I have found over years of experience that you are better to have a competent agent who appraises your property correctly and markets it to achieve more at the point of sale than one who over-prices it and then under-delivers, often with significant price reductions. 

An inaccurate appraisal could leave your house sitting unsold for months – or being undersold for less than its value! You deserve to get the best price for your property, and instead of a ‘quick sale’, your agent should be working hard to achieve the absolute best result on the day. They should also know the true value of your property and work towards it!

Some real estate agents over-estimate your property’s value, so you will list with them. It’s worth getting two to three property appraisals so you can compare services, marketing, sales strategy and sale price range being recommended in each. If one is much higher than the others, this could be a red flag! 

Not all agents and property appraisals are created equal, and I have seen costly mistakes made by sellers. I hope that the above examples allow sellers to be better informed to avoid any resulting additional expenses. Finding the right agent for you and your family should be your top priority when you’re ready to sell your house. Let’s get it right the first time!

If you would like an appraisal of your property to establish its new market value, I would love to chat. You can fill out my easy online form, arrange an in-person meeting or schedule a facetime or zoom meeting. I will be in touch as soon as possible.  

Contact me if you want to discuss this further. 027 473 2468