Professional Property valuations

[Guest veeba]

Hi Guys

 

i live in Aldinga Beach.

Our house is currently on Market. Our agent is not very good.

I was wondering if anybody knew of any good independent property valuers?

Thank you in advance.

[Guest Claire-n-tel]

Not sure what you mean?......do you mean that the real estate agent has under/over priced it on listing?

[Guest Claire-n-tel]

A valuer will cost approx $800 to estimate the current market value of your home.

 

if your home is already listed for sale the response you are getting from the market will be a truer indication of its value and weather or not the listed price is too high or too low

[Guest veeba]

the house has been on the market for only 2 weeks and he wants us to take low ball offers. offers not even close to what the property is advertised for. Its like he wants to sell up quick. its very frustrating.

[Guest Claire-n-tel]

the house has been on the market for only 2 weeks and he wants us to take low ball offers. offers not even close to what the property is advertised for. Its like he wants to sell up quick. its very frustrating.

 

Hold out for price that you are wanting and do not consider lowering your price for at least 4 weeks, if the agent is pressuring you then be assertive remember that you are paying them to work for you....

[minty]

the house has been on the market for only 2 weeks and he wants us to take low ball offers. offers not even close to what the property is advertised for. Its like he wants to sell up quick. its very frustrating.

 

Of course he will then he gets paid. Just tell him you won't consider offers under figure $? and not to even bother you with anything below that figure.

[Toni]

It is a very common thing that some agents do. They tell you what you want to hear in regards to price and then once you have signed a contract they start working on you to lower your price. Generally, most want to just move the property quickly. You can do a quick look yourself at what some properties have sold for by looking on realestate.com.au and looking in the "sold" section for the area that you live in. Be aware that some "sold" dates are quite old but if there are a few that have sold recently and you can objectively see that your house is comparable then you can hold out for that kind of price. Valuers can also be conservative in their estimate of homes.

[Guest Guest75]

That is a poor agent if they are asking you to accept low offers after only two weeks on the market.

 

Stick it out, take a real good look at what has sold in your area on Realestate.com.au.

[notpom]

Hi Guys

 

i live in Aldinga Beach.

Our house is currently on Market. Our agent is not very good.

I was wondering if anybody knew of any good independent property valuers?

Thank you in advance.

 

Good property valuers?

Sorry, question begs for itself - on which instructions you want property to be valued?

 

Say if valuations done on bank's instructions - then you might get two scenarios.

 

1. Bank who is not hungry for business will usually value for "fire sale". That means, how much you get if property ought to be sold in max two weeks time. Simple. Say you get three bedder, so the lowest price for the three bedder paid in your suburb is going to be your valuation.

2. Bank who is hungry for business will instruct the valuer to estimate whether your house will be worth the purchase price in two years time. For two years they covered by Lender Mortgage Insurance - so they just want to make sure that there is nothing fishy. Like purchaser coerced with the seller, they set high price and then seller gives back to buyer "brown paper bag".

 

3. For you to know realistic price range. Sorry, this is a bit useless. Not because the valuer's figure wrong, but simply because markets can see the value of the property in the different way. There can be thousands of scenarios, there are only two below:

 

a. Your house is beautiful, everything is fine, no defects and say valued at a million dollars. But persons who are prepared to pay a million - they want to make sure that EVERYTHING is fine. They drive by past your place at different days and times. And they figure out that on Friday night neighbour across the road holds regular drunken parties with pool game, and they yell wildly, and they urinate on the fences, etc. Not your fault, but you are not going to get any offers.

b. Say you have bought a fibro house, rundown and unpainted and built a brand new glorious one. Problem is that RPData does not know this, and whoever orders RPData "valuation" will see your place valued as an old rundown fibro. And they stick the report into agent's face and pretend they do not understand anything.

 

 

Couple of words why your agent is pressing you to accept the low offer. Naturally, they do not care what you get. 2% commission of 500 K price or $600K price is not that much different.

 

They might be genuine. In short, mechanics of selling are boring. First two weeks on the market you get influx of "time wasters". There are hundreds of people looking for years and years and they have no idea what they are looking for. They would submit lower offers to see how desperate you are. If you want fun, accept it. You will be surprised how your acceptance will surprise them. They would start to muck around, do searches and inspections - they would suspect there is something wrong with the property. There is a risk that they are genuine, so make a conditional acceptance of the offer, so you are able to kick them out no matter what.

Your agent knows too well - if they do not sell to time wasters, your property becomes "stale" and you might wait very long for the genuine buyer. Boom is not far away from Aldinga - Port Noarlunga South has more than state average number of property hunters per property, but it is not quiet there yet.

Unfortunately in Aldinga there are still too many time wasters lurking around. In SA there are on average 492 property hunters per property, in Aldinga it is much less than state average - about 350 from memory.

 

There are malicious agents who are total fraudsters. If your house has any development potential - you will be targeted by these. Almost any agent has "good relationships" with developers (usually relatives). And you can come under immense pressure to sell at low price. You have almost no way to know what agent says to genuine buyers. Experienced ones do not even say anything adverse. I have seen one who just "accidentally" lead buyers to the garbage bin, which accidentally has had a stick lifting the lid spreading aromas. Subconscious mind was telling the buyer that the place is filthy and unpleasant? and that turned them off.

 

Keep your eyes open, watch your back. At least get few sets of friends who pose as potential buyers and they tell you what they are being told.

 

If no go at the first time, just wait until your agency contract expires and withdraw property for at least 6 weeks - this way you will get a new kick.

 

Good luck.

Edited February 11, 2015 by notpom

[notpom]

That is a poor agent if they are asking you to accept low offers after only two weeks on the market.

 

Stick it out, take a real good look at what has sold in your area on Realestate.com.au.

 

Unfortunately, what people asking on Realestate.com.au does not always reflect what people sell for. You can pay around $200 to get real sales data (RPData, Residex, etc).

It also can be a poor guide - because for example you can base your estimate on a house sold in Medium Density zone while yours is in Low Density.

Or you might be comparing on the paper house on the same street which is located directly at the end of a side street, which has some ocean views.

 

Check any reports "on the ground".

[Guest vikkiann]

Give Shelley at century 21 on the esplanade a call, tell her Vikki sent you and she'll give you a realistic valuation and tell you what is achievable

[Guest Guest75]

Unfortunately, what people asking on Realestate.com.au does not always reflect what people sell for. You can pay around $200 to get real sales data (RPData, Residex, etc).

It also can be a poor guide - because for example you can base your estimate on a house sold in Medium Density zone while yours is in Low Density.

Or you might be comparing on the paper house on the same street which is located directly at the end of a side street, which has some ocean views.

 

Check any reports "on the ground".

 

Many apologies, I did forget we live in your much more perfect and educated shadow, I will know my place from now on............

[Guest Guest75]

Give Shelley at century 21 on the esplanade a call, tell her Vikki sent you and she'll give you a realistic valuation and tell you what is achievable

 

Seconded - also try Chris O'Brien down Seaford way............... Top bloke,honest as the day is long.

[notpom]

Many apologies, I did forget we live in your much more perfect and educated shadow, I will know my place from now on............

 

While I would not disagree that I become very easy to get along with when you learn to admire me, but my reply was intended as a slight correction, nothing personal.

Strictly speaking, good agent would give you sales data when they hand their appraisal to you.

I never sell anything, but many times I was asked to help.

And my recommendation to the vendor is - interview as many agents as you can get hold of. And compare the sales data each agent hands to you.

Sometimes you can find that some conveniently forget to include good sales and go back in time too far - just to convince you that your house is not worth that much as you think.

 

One more thing - buymyplace.com.au offer special realestate.com listing for $89. But you need to ask for it to get this price.

If your agent is in business of repelling genuine buyers, they will contact you through that alternative DIY listing.

Just keep in mind that even if you (and not the agent) sells the property you will be liable to pay the commission anyway.

 

In addition to that you can do much more aggressive marketing than your agent does. Social networks, youtube, ebay, gumtree.

eBay in some cases works better than realestate.com. It does not restrict the buyer to the specific area, so you get potential buyers from all over the world to see your listing. And say someone looks for the beach location, does not matter where. They search "waterfront" and if you told that your house meters from waterfront it is popping up in the search.

 

Dedicated website costs about $100. And you can place there whatever you want. Business cards with this website URL would be another $50. Spread them as wide as you can - some petrol stations, supermarkets, fast food outlets - whoever have special boards for cards.

Perhaps even under windscreen wipers at the car park at nearby beach (do not know if it is legal).

[minty]

While I would not disagree that I become very easy to get along with when you learn to admire me

 

If there were Oscars for forum comments then this is surely worthy. Notpom you are a classic, but not for the reasons you think mate !!!

 

I'm of back to the idiot desk with the rest of the forum members

[Guest Husky]

If there were Oscars for forum comments then this is surely worthy. Notpom you are a classic, but not for the reasons you think mate !!!

 

I'm of back to the idiot desk with the rest of the forum members

 

 

What do ya reckon Tyke

 

 

I suspect notpom is taking the ''michael'':wink:

[HEAPS GOOD !!!]

Sounds like a cat?

 

HG

[flossybeth]

Not sure I agree with everything notpom posts I do like his idea that you get some friends to pose as viewers at an open and see how your current agent is selling your house.

[Toni]

Not sure I agree with everything notpom posts I do like his idea that you get some friends to pose as viewers at an open and see how your current agent is selling your house.

 

Yes I like that idea too. Also like the idea of trying to sell your own home, especially if you have some experience in property. I have friends who have done that and have preferred that method and it wasn't as hard as they thought. Just needed a good conveyancer.

[Blossom]

I got friends to 'mystery shop' my agents in the UK. Then I let them have it when they lied to me saying they had asked for feedback when they hadn't.

Then I ended up selling it privately so those useless wastes of time didn't get any money out of me.

[notpom]

Sounds like a cat?

 

HG

How did you figure out that Cheshire Cat is my favourite character?

[notpom]

Yes I like that idea too. Also like the idea of trying to sell your own home, especially if you have some experience in property. I have friends who have done that and have preferred that method and it wasn't as hard as they thought. Just needed a good conveyancer.

 

Do not know about UK, but I would recommend that you run your own campaign in parallel with the agent.

For some totally obscure reason to me, Australian buyers shy these people who do pure DIY selling.

BUT if they do not have any luck with the agent, they happily circumvent the agent and go directly to you. National peculiarity.

 

I actually was gobsmacked by another national trait. Aussies shy excessively clean houses.

[Blossom]

 

I actually was gobsmacked by another national trait. Aussies shy excessively clean houses.

 

What trait is that sorry?

[Guest Guest75]

How did you figure out that Cheshire Cat is my favourite character?

 

 

Luvverly cheese - I like a bit of extra salt on.