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What happens during an appraisal?

What is an appraisal?

An appraisal is a meeting to find out how much your home is worth in the current market. We visit your home, and discuss various aspects with you to give you an estimated value.

We give you a comparative glimpse at homes in your area, of a similar age and presentation that have SOLD (not what is currently for sale) to give you facts from the current market.

Anyone can ask any price for their home, but it’s the actual sales price that is a direct reflection of the market.

We share the facts with you, so that as a seller, you can make an informed and educated decision – and of course, we’re happy to share our opinion wiht you, based on our years of experience and knowledge of the area.

What happens during an appraisal?

We walk through your home, see the flow, look at the quality of the build and look at areas the home may need maintenance. We share our ideas of how to present the home. It’s important for us to understand all of the modifications that the owner has made throughout their time of ownership, as well as any relevant history, for example a full renovation, termite damage.

The process can take between 30 minutes to 2 hours, depending on the questions you have. We find that one we start discussing the psychology of buying, and how to leverage that for sellers, that there are often a lot of questions. 

How do we get ready?

Your home doesn’t need to be ready for market before the appraisal. We prefer to see the house before you start preparing, so that we can guide you through the aspects we have found most effective to get the top dollar. (There is a bit of science to this).

 

The Information We Share

Before we meet, we research the home and the local sales, market trends, on-the-ground trends we are seeing unfold and a financial report. 

During our appraisal meeting we go through all of the relevant sales in the area with you, and bring you up-to-date with the market trends we’re dealing with.

Creating the correct “feel” (hitting the triggers)

Creating the correct “feel” is so very important to the sale of your property. We cannot count the number of times a buyer has said “oh it has such a great feel … I love it”. We give yu guidance on how to prepare and present your home in the best possible light.

The importance of marketing

We share with you a summary of the marketing strategy we would undertake for your home to attract the right type of buyers.

Pricing and the best sales process for your home

This is a very big decision – pricing and the method of sale. Get these two things wrong and it will cost you thousands, if not tens-of-thousands off your sale price.

We chat through the pros and cons of different selling methods, and which is best for your home.

How long does it take?

 

The process can take between 30 minutes to 2 hours, depending on the questions you have. We find that one we start discussing the psychology of buying, and how to leverage that for sellers, that there are often a lot of questions. 

An effective and worthwhile appraisal can’t be a 3-20 minute discussion or an over-the-phone service (even thought many agents offer this “Quick Appraisal” service).

There are also a lot of online calaculators, which take the price you paid for the house and apply a growth percentage over time (based on growth in the local area). The algorithm calculates a “value”, but doesn’t allow for improvements you’ve made or the market trends in play right at the time of the sale.

For an appraisal that you can be confident in, it takes a bit of time – but knowledge is power, and the resulting information we share with you arms you with the knowledge you need to make informed decisions.

Ready to find out more about the value of your home?