{"id":55716,"date":"2018-05-21T15:39:08","date_gmt":"2018-05-21T05:39:08","guid":{"rendered":"https:\/\/whichrealestateagent.com.au\/?p=55716"},"modified":"2021-08-31T21:31:49","modified_gmt":"2021-08-31T11:31:49","slug":"property-value-estimate","status":"publish","type":"page","link":"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/value\/property-value-estimate\/","title":{"rendered":"How To Get The Most Accurate Property Value Estimate"},"content":{"rendered":"<p><!-- <ezTOC> -->[vc_row row_height_percent=&#8221;0&#8243; override_padding=&#8221;yes&#8221; h_padding=&#8221;2&#8243; top_padding=&#8221;2&#8243; bottom_padding=&#8221;0&#8243; overlay_alpha=&#8221;50&#8243; gutter_size=&#8221;3&#8243; column_width_percent=&#8221;100&#8243; shift_y=&#8221;0&#8243; z_index=&#8221;0&#8243; text_lead=&#8221;&#8221; css_animation=&#8221;&#8221; animation_speed=&#8221;&#8221; animation_delay=&#8221;&#8221;][vc_column width=&#8221;1\/1&#8243;][vc_custom_heading heading_semantic=&#8221;h1&#8243; text_size=&#8221;h1&#8243;]How To Get The Most Accurate Property Value Estimate[\/vc_custom_heading][vc_column_text]<\/p>\n<aside style=\"display: inline-block;\">\n<div style=\"text-align: center;\">\n<div style=\"margin: 0px 0px; padding: 0px 20px !important; width: 320px; float: left;\">\n<p><img class=\"alignnone wp-image-65098\" src=\"\/blog\/wp-content\/uploads\/2021\/08\/search-agent.svg\" alt=\"\" width=\"45\" height=\"50\" \/><\/p>\n<p style=\"font-weight: bold; color: black; font-size: 20px;\">Get Your Free Appraisal<\/p>\n<p>Organise a free appraisal with a top real estate agent.<\/p>\n<p><a style=\"display: block; color: #0cb4ce !important; opacity: 0.8; padding: 20px 0; font-size: 15px; transition: .4s all;\" href=\"\/your-best-agents\">Get Free Appraisal<\/a><\/p>\n<\/div>\n<div style=\"margin: 0px 0px; padding: 0px 20px !important; width: 320px; float: left;\">\n<p><img class=\"alignnone wp-image-65096\" src=\"\/blog\/wp-content\/uploads\/2021\/08\/house.svg\" alt=\"\" width=\"45\" height=\"50\" \/><\/p>\n<p style=\"font-weight: bold; color: black; font-size: 20px;\">Property Value Estimate<\/p>\n<p>A value estimate of your property, before talking to agents.<\/p>\n<p><a style=\"display: block; color: #0cb4ce !important; opacity: 0.8; padding: 20px 0; font-size: 15px; transition: .4s all;\" href=\"\/your-best-agents\">Get your free report<br \/>\n<\/a><\/p>\n<\/div>\n<\/div>\n<\/aside>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<ul>\n<li>We&#8217;re going to look at some of the ways for you to <strong>find your property value<\/strong> &#8211; old school, new school and everything in between!<\/li>\n<li>Getting a good estimation of your property value is one of the best things you can do in order to secure the best price when you&#8217;re ready to sell your home.<\/li>\n<li>We&#8217;ll look at why you might get vastly different estimates between different valuers and which methods of valuation we recommend!<\/li>\n<\/ul>\n<p><strong>Table of Contents<\/strong><\/p>\n<ul>\n<li><a href=\"#intro\">Intro<\/a><\/li>\n<li><a href=\"#compare\">Comparing Property Valuation Methods<\/a><\/li>\n<li><a href=\"#realestateagents\">Real Estate Agents<\/a><\/li>\n<li><a href=\"#licensedvaluers\">Licensed Valuers<\/a><\/li>\n<li><a href=\"#banks\">Banks<\/a><\/li>\n<li><a href=\"#propertyreports\">Property Reports\u00a0<\/a><\/li>\n<li><a href=\"#propertyvaluationwebsites\">Property Valuation Websites<\/a><\/li>\n<li><a href=\"#diy\">D.I.Y<\/a><\/li>\n<li><a href=\"#conclusion\">Conclusion<\/a><\/li>\n<\/ul>\n<p><iframe src=\"\/\/www.youtube.com\/embed\/poak86-MXQU\" width=\"512\" height=\"287\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">So you\u2019ve decided to sell your home! Whether you\u2019re upsizing, downsizing or selling your investment property, it\u2019s important for you to get the best price. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The first step to <a href=\"https:\/\/wrea.test.whichrealestateagent.com.au\/value\/best-price-for-my-property\/\">getting the best price<\/a> is also one of the first steps you would take in selling your home: getting an estimate of your property value. It used to be the case that your only option would be to just ask a real estate agent to conduct an inspection and base an estimate on that. With the emergence of property valuation websites and other sites promising comprehensive property reports, <strong>things have got a little more complicated<\/strong>. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">So what <\/span><i><span style=\"font-weight: 400;\">is<\/span><\/i><span style=\"font-weight: 400;\"> the best way to get a property valuation?<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">Are some methods more accurate than others?<\/span><\/em><\/p>\n<p><span style=\"font-weight: 400;\">We\u2019re going to look at some different methods in an attempt to demystify the process and help you decide which is the best way for you to get your property value estimate. <\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Comparing_Property_Valuation_Methods\"><\/span><a name=\"compare\"><\/a>Comparing Property Valuation Methods<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>\u00a0<\/strong><span style=\"font-weight: 400;\">This table shows some of the most important things to consider when having a estimate done on your property. Below, we\u2019ve explored each method in more detail.<\/span><\/p>\n<p>&nbsp;<\/p>\n<table style=\"height: 256px;\" width=\"1276\">\n<tbody>\n<tr>\n<td style=\"width: 311px; text-align: center;\"><strong>Method<\/strong><\/td>\n<td style=\"width: 311px; text-align: center;\"><strong>Is the valuation free?<\/strong><\/td>\n<td style=\"width: 312px; text-align: center;\"><strong>Legally responsible?<\/strong><\/td>\n<td style=\"width: 314px; text-align: center;\"><strong>Property seen as part of valuation?<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 311px; text-align: center;\">Real estate agent<\/td>\n<td style=\"width: 311px; text-align: center;\"><span style=\"font-weight: 400;\">\u2705<\/span><\/td>\n<td style=\"width: 312px; text-align: center;\"><\/td>\n<td style=\"width: 314px; text-align: center;\"><span style=\"font-weight: 400;\">\u2705<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 311px; text-align: center;\">Valuer<\/td>\n<td style=\"width: 311px; text-align: center;\"><\/td>\n<td style=\"width: 312px; text-align: center;\"><span style=\"font-weight: 400;\">\u2705<\/span><\/td>\n<td style=\"width: 314px; text-align: center;\"><span style=\"font-weight: 400;\">\u2705<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 311px; text-align: center;\">Bank<\/td>\n<td style=\"width: 311px; text-align: center;\"><span style=\"font-weight: 400;\">\u2705<\/span><\/td>\n<td style=\"width: 312px; text-align: center;\"><\/td>\n<td style=\"width: 314px; text-align: center;\"><span style=\"font-weight: 400;\">\u2705**<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 311px; text-align: center;\">Property Reports<\/td>\n<td style=\"width: 311px; text-align: center;\"><span style=\"font-weight: 400;\">\u2705*<\/span><\/td>\n<td style=\"width: 312px; text-align: center;\"><\/td>\n<td style=\"width: 314px; text-align: center;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 311px; text-align: center;\">Property Valuation Websites<\/td>\n<td style=\"width: 311px; text-align: center;\"><span style=\"font-weight: 400;\">\u2705<\/span><\/td>\n<td style=\"width: 312px; text-align: center;\"><\/td>\n<td style=\"width: 314px; text-align: center;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 311px; text-align: center;\">D.I.Y<\/td>\n<td style=\"width: 311px; text-align: center;\"><span style=\"font-weight: 400;\">\u2705<\/span><\/td>\n<td style=\"width: 312px; text-align: center;\"><\/td>\n<td style=\"width: 314px; text-align: center;\"><span style=\"font-weight: 400;\">\u2705<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>*There are options for paid property reports on some websites<\/p>\n<p><span style=\"font-weight: 400;\">** Sometimes, banks will only do an automated valuation where they don&#8217;t view the property. This is most often the case for lower value properties when it is one of the \u2018Big 4\u2019 Australian banks (NAB, ANZ, Comm Bank, WestPac)<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Real_Estate_Agents\"><\/span><a name=\"realestateagents\"><\/a>Real Estate Agents<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>\u00a0<\/strong><span style=\"font-weight: 400;\">As mentioned earlier, real estate agents are the \u2018traditional\u2019 option for getting an estimate on the value of your house.<\/span><\/p>\n<blockquote><p>When you get an agent in to give you an estimate, you\u2019re getting a level of experience that more recently available methods might not have.<\/p><\/blockquote>\n<figure id=\"attachment_55723\" aria-describedby=\"caption-attachment-55723\" style=\"width: 326px\" class=\"wp-caption alignleft\"><img class=\"wp-image-55723\" src=\"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/house.jpg\" alt=\"property value\" width=\"326\" height=\"256\" srcset=\"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/house.jpg 500w, https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/house-300x236.jpg 300w\" sizes=\"(max-width: 326px) 100vw, 326px\" \/><figcaption id=\"caption-attachment-55723\" class=\"wp-caption-text\">Real estate agents will come to see your house to do an appraisal<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">To hav<\/span>e your\u00a0property appraised, you\u2019ll have to arrange an appointment with an agent, who will then <strong>come to view the property<\/strong>. They\u2019ll be looking for a number of things including anything that need repairs, how many bedrooms and bathrooms you\u2019ve got and how many car spaces you\u2019ve got. They\u2019ll also take into account things you can\u2019t change, like the location of your house &#8211; are you near open spaces? Public transport? Are you under a flight path or next to a busy road? Obviously, there\u2019s not a lot you can do about these factors, but it\u2019s important to know what agents are looking for. It\u2019s also good to think about what you can do to decrease impact, especially from noise pollution.<\/p>\n<p><span style=\"font-weight: 400;\">Once your agent has a feel for your property and what it looks like, they\u2019ll go away and do <\/span><b>comparative market analysis <\/b><span style=\"font-weight: 400;\">to form the basis of their report. Comparative market analysis means that they\u2019ll look at sales data from the area to see what similar properties have sold for recently and what other vendors have their properties on the market for. This can be complicated if you have a unique property or a very high-<\/span>value home. That\u2019s why it\u2019s <em>important to find top agents in your area<\/em>, who will have the most experience and expertise.<\/p>\n<p><span style=\"font-weight: 400;\">Because they have a very holistic view of your property, having seen it as well as done the comparative market analysis, real estate agents are in a good place to offer a realistic estimate of your property. They can be biased, especially if they think you might enlist them to sell your property, so we recommend getting appraisals from more than one agent. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">There\u2019s no real order to this list, but we\u2019ve put real estate agents first because we think they should be your first stop when getting an estimate on the value of your property. <strong>It shouldn\u2019t cost you a cent<\/strong> and when you consider all of the local knowledge and expertise you\u2019re getting for free, we think it\u2019s a no-brainer. Like we said, if an agent knows that they\u2019re the only agent you\u2019re speaking to, they might give you a biased estimate, so it\u2019s worth seeking the opinion of at least two agents.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Licensed_Valuers\"><\/span><a name=\"licensedvaluers\"><\/a>Licensed Valuers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In all states and territories apart from Tasmania and Victoria, valuers have to hold a license, complete a certain amount of training or have a certain amount of experience to operate in that role. More information on your state or territories regulations can be found on the Fair Trading website for your area.<\/span><\/p>\n<p><strong>\u00a0<\/strong><span style=\"font-weight: 400;\">Valuers can also apply to join the <a href=\"https:\/\/www.api.org.au\/about-certified-practising-valuers\">Australian Property Institute as a Certified Practising Valuer<\/a> once they have attained the required qualifications, done two years of supervised work experience and completed a professional interview. \u00a0<\/span><\/p>\n<blockquote><p>The reason that there are so many rules and regulations is that <b>valuers provide a legally binding valuation of your property<\/b>&#8211; you don\u2019t want just anyone doing that!<\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">A licensed valuer will <\/span><i><span style=\"font-weight: 400;\">always<\/span><\/i><span style=\"font-weight: 400;\"> visit the property to conduct a full inspection of the interior and interior and exterior. They\u2019ll have already done research on properties sold in the area, as well as what the local area is like. This doesn\u2019t just mean the advantages of living in that area &#8211; it also means knowing whether the property is located near a main road or if there are landmarks, like cemeteries, near by which might pull down the value of the house in the eyes of a buyer. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Inside the property, they\u2019re looking for <strong>similar things to the real estate agent<\/strong>: the number of rooms, especially bedrooms and bathrooms, what the kitchen looks like and whether the house has a logical design. For instance, is the bathroom on the opposite side of the house to the bedrooms? Small things that you\u2019ve gotten used to might be off-putting for new owners and thus, affect the value of the house in the eyes of the valuer. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Outside the property, they\u2019ll take into consideration the architectural style of the building, the layout and aspect of the lot (north facing properties are always the most sought after) and the development potential of the land. They\u2019ll also measure the land and make sure that the boundaries are in accordance with where they should be according to the title which is important when it comes to selling your property. <\/span><\/p>\n<p><strong>\u00a0<\/strong><span style=\"font-weight: 400;\">Valuers have two methods which they use to come to a valuation: direct comparison and summation. <\/span><\/p>\n<ul>\n<li><b>Direct comparison<\/b> means that valuers compare your property to similar local properties sold in the last six months. This can obviously be difficult if you live in a unique property or if there\u2019s a lack of property local to you.<\/li>\n<li style=\"font-weight: 400;\"><b>Summation<\/b><span style=\"font-weight: 400;\"> means that valuers will add up the value of the land and the improvements made on it. This method gives you a much more accurate value of your property &#8211; but there\u2019s no guarantee that a buyer will agree. <\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Most professional valuation companies will use a combination of these methods to come to their final valuation. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As noted in the table above, <strong>you will pay for a property valuation<\/strong>. Price will depend on the size of your property and where it\u2019s located, but a fee of $300 for an average valuation seems to be about the norm. <\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Banks\"><\/span><a name=\"banks\"><\/a>Banks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Banks will normally contract professional valuers to conduct inspections for them, but when they work for banks, valuers are looking for different things.<\/span><\/p>\n<figure id=\"attachment_55722\" aria-describedby=\"caption-attachment-55722\" style=\"width: 326px\" class=\"wp-caption alignright\"><img class=\"wp-image-55722\" src=\"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/swimming-pool.jpg\" alt=\"property value\" width=\"326\" height=\"217\" srcset=\"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/swimming-pool.jpg 500w, https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/swimming-pool-300x200.jpg 300w\" sizes=\"(max-width: 326px) 100vw, 326px\" \/><figcaption id=\"caption-attachment-55722\" class=\"wp-caption-text\">Pools are an example of a feature which might add market value but would decrease the property value in the eyes of the ban<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Banks conduct inspections when someone applies to them for finance, either to purchase property or remortgage it. As a seller, you don\u2019t normally need to be overly concerned by bank valuations, but as a form of property value\u00a0<\/span><span style=\"font-weight: 400;\">estimate, we thought we\u2019d put them on the list! <\/span><\/p>\n<blockquote><p>A bank estimate will nearly always be lower than the estimate made by a real estate agent or a valuer working for you.<\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\"> Why? Because a bank estimate is <strong>the highest amount they would possibly recoup<\/strong> if for whatever reason t<\/span>hey had to repossess the property.<\/p>\n<p>Banks will value in one of two ways: either using a professional valuer to inspect the property or doing an automated valuation. Smaller banks will nearly always do an inspection &#8211; they need to be more careful as they have a lot more to lose.<\/p>\n<p>Large national or multi-national banks, including ANZ, WestPac, CommBank and NAB, are more likely to use automated valuations, especially when the property has a lower value. We\u2019ll discuss the issues with automated estimates further down, but bear in mind that banks are not only <strong>looking for different things<\/strong>, they have access to different information than property websites do.<\/p>\n<p><span style=\"font-weight: 400;\">Things bank valuations will look out for include a market that has increased in value over a short space of time &#8211; they\u2019re worried that such good fortunes might not hold &#8211; as well as zoning restrictions and heritage listings on the property. Anything about the property which will make it hard to sell in a short space of time will make it less valuable to a bank, even if those features might increase its market value.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Remember that for a bank, the value is the most it can expect to recoup if it has to sell the property after repossession. It won\u2019t always be reflective of what you can expect to sell the property for. <\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Property_Reports\"><\/span><a name=\"propertyreports\"><\/a>Property Reports<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If you type \u2018property value report\u2019 into Google, you\u2019ll be hit with results from an overwhelming number of sites offering free property reports. These reports will often give a sales history for your property, an overview of local recent sales and an estimate of the value of your property. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s a sample report from homeguru.com.au. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img class=\"wp-image-55720 alignnone\" src=\"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/View-Sample-Report-of-Our-Free-House-Prices-Report-Now-HomeGuru-Google-Chrome-2018-05-21-10.55.19-982x1024.png\" alt=\"property value\" width=\"337\" height=\"351\" srcset=\"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/View-Sample-Report-of-Our-Free-House-Prices-Report-Now-HomeGuru-Google-Chrome-2018-05-21-10.55.19-982x1024.png 982w, https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/View-Sample-Report-of-Our-Free-House-Prices-Report-Now-HomeGuru-Google-Chrome-2018-05-21-10.55.19-288x300.png 288w, https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/View-Sample-Report-of-Our-Free-House-Prices-Report-Now-HomeGuru-Google-Chrome-2018-05-21-10.55.19-768x801.png 768w, https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/View-Sample-Report-of-Our-Free-House-Prices-Report-Now-HomeGuru-Google-Chrome-2018-05-21-10.55.19.png 1166w\" sizes=\"(max-width: 337px) 100vw, 337px\" \/><img class=\"wp-image-55721 alignnone\" src=\"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/View-Sample-Report-of-Our-Free-House-Prices-Report-Now-HomeGuru-Google-Chrome-2018-05-21-10.55.52-e1526866051224-981x1024.png\" alt=\"property value\" width=\"336\" height=\"350\" srcset=\"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/View-Sample-Report-of-Our-Free-House-Prices-Report-Now-HomeGuru-Google-Chrome-2018-05-21-10.55.52-e1526866051224-981x1024.png 981w, https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/View-Sample-Report-of-Our-Free-House-Prices-Report-Now-HomeGuru-Google-Chrome-2018-05-21-10.55.52-e1526866051224-287x300.png 287w, https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/View-Sample-Report-of-Our-Free-House-Prices-Report-Now-HomeGuru-Google-Chrome-2018-05-21-10.55.52-e1526866051224-768x802.png 768w, https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/View-Sample-Report-of-Our-Free-House-Prices-Report-Now-HomeGuru-Google-Chrome-2018-05-21-10.55.52-e1526866051224.png 1165w\" sizes=\"(max-width: 336px) 100vw, 336px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">This report gives a range for the estimate of the property value, lists of local sales as well as a more targeted list of comparable sales, links for home loans and some demographic information. It also gives an idea of what information was used to make the estimate &#8211; number of bedrooms, number of bathrooms and comparable property sales locally. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Instant property reports are great to <strong>give you an idea of the local market<\/strong>. They\u2019re easy to read and give you the basic information you need to know. They have similar limitations to websites: they\u2019re based on a computer algorithm and so they only know what\u2019s fed into them. <a href=\"https:\/\/wrea.test.whichrealestateagent.com.au\/value\/free-property-report\">That\u2019s why it\u2019s worth finding out where the data is coming from<\/a>.\u00a0<\/span><\/p>\n<p>[do action=&#8221;yellowbox&#8221;]Which Real Estate Agent uses data from CoreLogic, Australia&#8217;s most comprehensive source of property data, covering 98% of the Australian property market. You can find a sample property report <a href=\"https:\/\/wrea.test.whichrealestateagent.com.au\/files\/SamplePropertyReport.pdf\">here.<\/a> Even better, you can get your personalised CoreLogic report from Which Real Estate Agent direct to your inbox <a href=\"\/your-best-agents\">for free<\/a>.[\/do]<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Property_Valuation_Websites\"><\/span><a name=\"propertyvaluationwebsites\"><\/a>Property Valuation Websites<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">We\u2019ve already evaluated <a href=\"https:\/\/wrea.test.whichrealestateagent.com.au\/value\/property-valuation\/\">Australia\u2019s top real estate valuation websites here<\/a><\/span><span style=\"font-weight: 400;\">.\u00a0<\/span><span style=\"font-weight: 400;\">These sites let you type in your address and provide an instant estimate of the value. <\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">Different sites use different property data but they all work on the same principle: <\/span><b>comparative market analysis<\/b>.<\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\"> That\u2019s right, the same as real estate agents! What makes these sites different then? <\/span><\/p>\n<ol>\n<li><strong>\u00a0<\/strong>The sites are operating sight unseen, that is, they haven\u2019t seen your house. They don\u2019t know if it\u2019s falling apart or if you\u2019ve just done a $50,000 renovation. Without seeing the house, it\u2019s hard to make an accurate estimate.<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The computer isn\u2019t an expert on the local area. All the computer knows is based on the numbers that are fed into it. Ideally, the agent you choose to make an appraisal will have worked in the local area and as such will have a much better feel for it than can ever be fed into the computer. <\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Websites often have trouble <strong>completing estimates for high value properties<\/strong> &#8211; this is something to bear in mind as property prices across Australia continue to increase. This is normally because they\u2019re incomparable to other properties in the area. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sites can offer an interesting snapshot of the value of your property but they are severely limited in what they can offer. If you\u2019re interested in using one, be sure to check out our study which looks at which site provides the most accurate value estimates! <\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Do_It_Yourself\"><\/span><a name=\"diy\"><\/a>Do It Yourself<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Maybe you\u2019ve been reading this article and thinking \u2018that doesn\u2019t sound too difficult!\u2019. Maybe you\u2019re unhappy with a valuation you\u2019ve been given by a property report or real estate agent.\u00a0<span style=\"font-size: 16px;\">Perhaps you\u2019re just curious about how much your home is currently worth.<\/span><\/span><\/p>\n<figure id=\"attachment_55724\" aria-describedby=\"caption-attachment-55724\" style=\"width: 326px\" class=\"wp-caption alignright\"><img class=\"wp-image-55724\" src=\"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/adorable-baby-boys-50601.jpg\" alt=\"property value\" width=\"326\" height=\"217\" srcset=\"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/adorable-baby-boys-50601.jpg 500w, https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-content\/uploads\/2018\/05\/adorable-baby-boys-50601-300x200.jpg 300w\" sizes=\"(max-width: 326px) 100vw, 326px\" \/><figcaption id=\"caption-attachment-55724\" class=\"wp-caption-text\">Potential buyers won&#8217;t know about the beautiful memories you have of your house &#8211; don&#8217;t let your emotions cloud your judgement<\/figcaption><\/figure>\n<p>If any of this sounds like you, you can do some basic comparative market analysis from the comfort of your own home and we\u2019ll explain how!<\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"><strong>Look at recent sales data from your area<\/strong>: if you\u2019re in an urban area, stick within your suburb. If you\u2019re rural, this step might be slightly more difficult but you know your local area better than us! There will be records online of auction results and sales data can also be found on the websites of real estate agencies.<br \/>\n<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><strong>Look at the comparable properties<\/strong>: if you\u2019re selling a 2 bedroom unit on the beach, the three bedroom terraced house five minutes walk away isn\u2019t a good comparison. Find homes with a comparable number of bedrooms and bathrooms, of the same age as yours and with comparable outdoor space.<br \/>\n<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><strong>Work out your property\u2019s added value<\/strong>: have you added a new kitchen or bathroom? Is your property recently repainted? Do you have a spa or pool in your yard? All of these things will add value to your property but remember that the added value is rarely as much as you paid for the upgrades.<\/span><\/li>\n<\/ol>\n<p>Want a quick idea? Just use our property value growth calculator below. It calculates how much the property may have appreciated in value since the purchase date.<\/p>\nCost Calculator with given id doesn't exists.\n<p><span style=\"font-weight: 400;\">We\u2019ve spoken about how important local knowledge and getting a feel for the property are when making an estimate on the property value. You must be thinking, \u2018Great! No one knows my home better than me!\u2019 but when you\u2019re doing the estimate yourself, this can be more of a curse than a blessing. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The emotional value of your house can\u2019t be estimated as a monetary amount and neither should it be &#8211; the buyer won\u2019t know about the hallway where your son took his first steps, for example. If you choose to estimate the value of your own property, <strong>try to stay as objective as possible<\/strong>. <\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><a name=\"conclusion\"><\/a>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As you\u2019ve seen, there are a <strong>lot of different ways<\/strong> to get an estimate of the value of your property. Each of them have their merits and we\u2019ve also highlighted the weaknesses of each method to let you make the best decision for your circumstances. In the end, it\u2019s important to get a valuation or estimate from someone who has seen the property &#8211; that way you know you\u2019re getting a personalised experience from a real person. You might choose to get one of these as well as using online services like the property reports or websites we\u2019ve detailed. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here at Which Real Estate Agent, we recommend getting as many estimates as you can &#8211; this is one of those times where less isn\u2019t more. If you\u2019re going to get more than one estimate or value, the best place to start is with local real estate agents. We get that finding the top agents in your area can seem stressful but our team have made it very easy for you. Compare top real estate agents to get a valuation with <a href=\"\/your-best-agents\">our comparison tool<\/a>.<\/span><\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row]<!-- <\/ezTOC> --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row row_height_percent=&#8221;0&#8243; override_padding=&#8221;yes&#8221; h_padding=&#8221;2&#8243; top_padding=&#8221;2&#8243; bottom_padding=&#8221;0&#8243; overlay_alpha=&#8221;50&#8243; gutter_size=&#8221;3&#8243; column_width_percent=&#8221;100&#8243; shift_y=&#8221;0&#8243; z_index=&#8221;0&#8243; text_lead=&#8221;&#8221; css_animation=&#8221;&#8221; animation_speed=&#8221;&#8221; animation_delay=&#8221;&#8221;][vc_column width=&#8221;1\/1&#8243;][vc_custom_heading heading_semantic=&#8221;h1&#8243; text_size=&#8221;h1&#8243;]How To Get [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":55739,"parent":56674,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":[],"acf":[],"_links":{"self":[{"href":"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-json\/wp\/v2\/pages\/55716"}],"collection":[{"href":"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-json\/wp\/v2\/comments?post=55716"}],"version-history":[{"count":39,"href":"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-json\/wp\/v2\/pages\/55716\/revisions"}],"predecessor-version":[{"id":65184,"href":"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-json\/wp\/v2\/pages\/55716\/revisions\/65184"}],"up":[{"embeddable":true,"href":"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-json\/wp\/v2\/pages\/56674"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-json\/wp\/v2\/media\/55739"}],"wp:attachment":[{"href":"https:\/\/wrea.test.whichrealestateagent.com.au\/blog\/wp-json\/wp\/v2\/media?parent=55716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}