What is a Property Appraisal?
One of the most common things we are asked to do in our profession is to provide an appraisal of a property. This is how property owners can find out what their property would be worth if it was to be sold.
If you have never had an appraisal before, or even if you have, you may wonder what is involved in the process and how you can be sure that the information given to you is relevant and accurate and that the price range given to you is realistic and achievable.
Real Estate Agents are professionals and as such ultimately earn their commission on a sale of a property through their knowledge and experience as they facilitate and negotiate the best possible price and sale conditions for a vendor.
It is our job to know the market and, aside from the required qualifications we must have, our experience in the job and our knowledge of the local market together with careful research of sales of properties similar to yours assist us in making informed and accurate estimates of how much we think a property is worth.
Is it OK to get more than one appraisal?
When we do an appraisal of a property it is generally without expectation or obligation from you. It is part of the service we provide, and we know that sometimes people just want to know what their home is worth or may choose to work with an agent from another agency.
If you are thinking of selling your home, we understand that you will likely have other agents do appraisals as well. While we would love to work with you and sell your property, we understand that a second and even third opinion is a smart decision on your part and the best way for you to achieve an overview of where you sit in the market.
The 3 C’s: Connection, confidence, communication
We also believe that you need to feel comfortable with your agent and that it’s important to be able to establish a rapport that makes it easy for you to discuss things with your agent, ask questions and have confidence that they are doing their very best to achieve the best possible outcome for you. It is a great feeling for us to know that we’ve connected with you and have begun establishing what we hope is a satisfying and long lasting relationship.
For us, communication is a key part of that relationship and we feel that a big part of our job is to listen to what you, as the owner of property, think and feel about your home while at the same time giving you our honest and professional opinion as to its value. Selling a property is in its essence a financial transaction but it is not really that simple as oftentimes the decision to sell a property or not can be influenced by how you feel about the property or because of the circumstances surrounding the reasons of why you are thinking of selling.
When you contact us and ask for an appraisal we like to come to your property and meet with you in person and see the home. We may take some photos and will make notes of its features. Don’t worry if you feel your presentation is not “sale ready”! We have no expectation that the house will be perfectly presented at the appraisal stage.
Of course, sometimes it may be the case that your property is tenanted in which case we can then work with your managing agent to organise access with your tenant.
Research + Market Knowledge = Accurate Estimate
Generally, after we have met for the first time and we’ve had a good look at your property, we will then do our research and comparisons to determine the price range that we feel your property sits in.
Good agents will have a range of resources at their disposal that they can use to work out the price range of a property. One of the most important tools that we have is access to data and statistics for properties and sales in the area, historical and current, so that we can compare your property against other similar properties that have recently sold or are currently listed for sale.
We will typically use properties close to the location of yours as well as properties that may not be as close in location but do have similar features or are of a similar age or type.
Experience is key
We feel that one of our strengths is that while all our agents are experienced in their own right, they will often seek the opinion of the other experienced agents in the team about the worth of your property. With our four agents in our Sales Team there is almost 45 years of combined real estate experience to draw from.
Once our research is complete, we then come back to see you to present our findings and discuss them with you. We will also let you know the features and benefits of our carefully designed marketing plan and talk to you about what you can expect during the sale process. We will also discuss with you the associated costs and fees.
Basically, we give you all the information you need to make an informed decision about what you wish to do. If you were just wanting to know the value, we’re happy to leave it at that but may just stay in touch with you here and there.
If you are selling and would like to go with us, then that’s fantastic and we will be more than happy to get things started.
Need other real estate advice?
If you were thinking about doing some work to the property before you list for sale, our agents are always willing and able to share their expertise and advice with you as to what will benefit selling and what won’t so you don’t spend unnecessarily and risk over capitalising. We can also recommend and help organise trades for you and can also give you an estimated price range of what your property may be worth after the work is done.
Our agents are always happy to chat with people about what’s happening in the property market generally and have their finger on the pulse on the state of the rental market as well for anyone who’s thinking of investing in property in Orange. Just give them a call, they’re happy to help.
It’s quick and easy to get started
So, how do you get this process started? Just give us a call!
If you have a preferred agent or have been referred to a particular agent by someone, please ask for that agent by name. This is really important to ensure you make contact with the agent you really want! We also like to thank the person who has referred you to us as well.
If you haven’t had any dealings with our agents before we can easily match you up with one of them and they will get the ball rolling for you.
Alternatively, you can easily click “Free Appraisal” button on our home page and send us your details and someone will be in touch (again don’t forget to mention if you want a specific agent!).
Quick link to our homepage: PF Home Page
You will find the “Free Appraisal” button in the menu bar, on the top right hand corner of your desktop monitor or if using a mobile device drop down the menu on the homepage and select “Free Appraisal” (bottom of list)
