Using free market appraisals to your advantage

Go to your letterbox and, most weeks, householders will find an offer of a free market appraisal from one or more real estate agents. 

Designed primarily as the first contact point in what agents hope is a lifelong relationship, the obligation-free quote can be a positive experience for interested parties, depending on how it is handled. 

In effect, the appraisal should be the first step towards obtaining at least three opinions of your property’s value, with the median (or middle) value probably a more accurate indication of its worth. 

Is the price right?

It’s fair to think that a good agent should accurately predict within 10 per cent of the sale price, so if the figure quoted seems too high or too low, this might be due to highlighting flaws in the marketing or valuation processes.

Of course, there will always be properties that defy expectations, but these are the exception rather than the rule. 

Marketing, commissions, auctioning styles and gut instinct should also form part of your assessment about who you entrust with a job that will have a major financial impact on your future. 

The makings of a sound appraisal

Any appraisal should include advice on how to present your property in its best light, and whether any potential improvements are worth carrying out.

Always remember that most buyers instinctively cast an eye over the external appearance. If it appeals, they will investigate further. If not, they will turn their attentions to other properties. 

That’s why — in the case of a house — it’s vital to first pay attention to your garden and path leading to the front door. Oiling gates, repairing cracked tiles, cleaning windows, polishing door handles and ensuring the doorbell works make lasting impressions. 

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Inside story

Then, once inside, it’s important to create an invitingly lived-in look, which your agent can advise you about in terms of lighting, fragrances, pets and general tidiness.

The time-honoured enhancements of fresh flowers and brewing coffee are hard to ignore, as is adding a drop of vanilla essence on a warm hotplate for a just-finished-cooking aroma.

Vendors should keep their distance

But that doesn’t mean the presentation package includes you. The major reasons agents recommend that vendors not be present at inspections are two-fold. 

The first is for vendor protection. Because everyone has different tastes and levels of tact, eager buyers are always willing to offer their opinions about various parts of your home, which may cause offence to sensitive vendors already experiencing a wave of emotions. 

Secondly, homebuyers may feel they are intruding if you are there, possibly reducing the welcoming atmosphere you are trying to convey. After all, buyers are also seeking that special feeling when they walk through your door. 

Flexibility is essential

Many agents recommend vendors be flexible about inspections during the selling period, and to go for a coffee or to the park during inspections. 

Inspections are a necessary process in any selling period, but by adhering to a common goal, vendors can expect to reap rewards on auction day.

And that appraisal you acted upon could well be the difference between moving forward financially and being left behind.

chrisbrown1224

Managing Director – New Vision Financial Services & New Vision Real Estate After years in the banking, finance & commercial sector Chris noticed that the industry needed a company with a personal touch that offered their customers a complete solution. In 2015 New Vision Financial Services was created to allow our consultants to use their experience (including approving and structuring large complex commercial transactions through to basic home loans) and to concentrate on offering a personalised service to their clients. With the growth and success of New Vision Financial Services a decision was made in 2019 to launch New Vision Real Estate to provide an end to end solution for client weather they be first home buyers or seasoned investors. Chris has built a team at New Vision Financial Services and New Vision Real Estate that have access to over 70 different lenders, insurers, lawyers, accountants and financial planners giving you more flexibility when making a decision. We offer a full service Real Estate agency offering Sales, Leasing, New Developments, House & Land and Commercial. Call me anytime on 0433 181 544 or email chris@newvisionfinancial.com.au The team at New Vision Financial Services have access to over 70 different lenders, giving you more flexibility when making a decision. Our consultants have had extensive experience within the banking, financial and corporate sector. At New Vision Financial Services we specialise in finance lending for home, investment, business, commercial, asset, debtor and many other requirements. As New Vision Financial Services has progressed, we have developed strong relationships with professional service providers such as; Financial Planners, Accountants, Settlement Agents, Leasing & Equipment Providers, Debt Management Specialists and any more to allow our clients access to a complete suite of services.