Are you considering selling your home? Knowing its current market value is a crucial first step, and a free market appraisal from a local Real Estate Salesperson is the best way to start.
What is a Free Market Appraisal?
A market appraisal is a comprehensive evaluation provided by a Licensed Real Estate Salesperson. Professionals Salespeople offer this service for free. The appraisal includes details on what your property is worth in the current market, along with other relevant market information. This process involves a visit from your chosen Salesperson and typically takes 15–30 minutes depending on the size and nature of your property. The Salesperson will ask questions about your property, such as what you love about it, details on recent upgrades or renovations, and may take some photos. Following the visit, they will provide you with an appraisal after considering various relevant factors.
Considerations in a Market Appraisal
Location: The specific area where your property is situated.
School Zone: The school zones associated with your property can significantly impact the home's perceived value.
Land Size and Council Zoning: Generally, the larger the land, the higher the property's value, especially if it's sub-dividable.
Land Condition: Whether your property is on a flat section or a slope.
Condition, Age & Quality of Build: A property needing maintenance or repairs would typically have a lower value compared to a recently renovated or new home.
Comparable Properties: The sale price of similar properties in your local neighbourhood and surrounding suburbs will influence your property's value.
Using this research and analysis, the Real Estate Salesperson will compile a report summarising their findings and provide a guideline for the property's current value. The Salesperson can also guide you through the selling process should you wish to proceed with putting your property on the market.
What will you receive in your Market Appraisal?
Property Description: Detailed information about your property, including the size, number of rooms, and any unique features.
Local Market Analysis: An overview of the current real estate market conditions in your region, including recent trends and statistics.
Comparative Market Analysis (CMA): A comparison of similar properties that have recently sold in the area. These are often referred to as 'comparables' and help determine your property's market value.
Estimated Market Value Range: The Salesperson's professional opinion on the property's current market value based on the CMA and their knowledge of the local market. In this market, a trusted salesperson is worth their weight in gold.
Pricing Strategy: A recommendation on how to price your property if you decide to sell. Your Salesperson will also include potential listing price ranges and sales strategies to attract buyers.
Marketing Plan: An outline of how the Salesperson would market your property to potential buyers, including online listings, open homes, print advertising, and any other promotional activities they may recommend.
Property Improvements: Suggestions for any repairs or improvements that could enhance your property's value or make it more attractive to potential buyers.
Timeline: An estimated timeline for selling, including preparation, marketing, viewings, and the average days on the market for properties in the area.
Salesperson Credentials: Information about your Real Estate Salesperson including their experience, track record, and why they would be a good choice to look after the sale of your property.
The appraisal is presented as a written report during a follow-up meeting. It will provide valuable insights and help you make informed decisions about selling your property.
Key Considerations & Questions to Ask Your Real Estate Salesperson
- How many properties have they sold in the neighbourhood?
- Do they have enough statistical data to appraise your property accurately?
- Do they have a large network of potential buyers?
- How well do they know your neighbourhood and the surrounding suburbs?
If you're thinking about selling your property, talk to your local Professionals team today. We can guide you through the process of getting a free market appraisal and provide any advice you need for your circumstances.