Understanding the Difference
Property Appraisal vs. Property Valuation

What is a Property Appraisal?

A property appraisal is an educated guess (estimate) of how much your property is worth on the market right now. Real estate agents are experts at answering the question most homeowners ask— “How much is my home worth?”

Real estate agents do this by doing a comparative market analysis, which involves finding similar homes that have sold in the last 90 days. The appraisal will be more accurate the more closely your property is matched to other similar properties that have sold in the area (comparable properties).

Factors Influencing Accurate Property Appraisals

Agents also look at the property’s structure and condition, as well as the competition and trends in the market as a whole. Property appraisals are a great way to find out what your property might be worth on the market at that time. (Current market value of the property)

A real estate agent appraisal takes many different things into consideration, from the size and condition of the property and any improvements made, to the fixtures and fittings.

It’s always a good idea to get a real estate agent appraisal from a trusted real estate agency in your local area and/or one that regularly services your local area. Each of our Property Brokerage Real Estate Agents lives and breathes real estate throughout the Hervey Bay and Maryborough regions. They intimately know each of the suburbs very well.

We guarantee that our real estate agents have provided countless sellers the most accurate market appraisals and as experts will happily assist you with your own customised market appraisal for property report.

 

Request Free Property Appraisal Online

If you’d like a free property market appraisal, simply click the following link: Appraisal Request or scroll to the bottom of the page and click the Free Valuation or Appraisal Request Button. You can call our office on 07 4125 6692 or a/h 0438 132 215 if you would prefer to speak directly to an agent.

free real estate property appraisal

Property Appraisals FAQs

Most real estate agents will provide you with a property appraisal for free as part and parcel of their services. A complimentary valuation provides an agent with a good opportunity to pitch themselves to you in the the hope that you then decide to list and sell your home with their real estate agency.

A real estate property appraisal provides useful information about the property. It not only describes what makes it valuable, but also shows how it compares to other similar properties in the same area. An appraisal is an independent assessment of the value of the property.

What is a Property Valuation?

Valuing a property is usually done by a Certified Practicing Valuer for a set fee that has already been agreed upon. Property valuations are not done by real estate agents, nor do those carrying out property valuations work for a real estate company.

Property Valuation Methods & Applications

Most of the time, property valuers will use either direct comparison, capitalisation, or summation to figure out how much your property is worth. They will look at the property, do research and analysis on the local market, and write a detailed report about issues that affect how much the property is worth on the market right now.

Before giving a home loan, a bank or other financial institution will usually need a property valuation service. It is also used by buyers and sellers who want an independent opinion before a pre-purchase or pre-sale, family or partnership settlement, capital gains tax, or, in some cases, building insurance.

 

What is a Suburb Market Update or Suburb Report?

Suburb reports and specific suburb market updates utilise independent property and analytics data from CoreLogic and/or RP Data— both of which are leading property data, information, analytics, and services providers in Australia.

Exploring the Data Behind Suburb Market Updates

Property Brokerage’s Approach to Insights: Property Brokerage carefully analyses the powerful insights gained from the latest median prices, real estate market data & demographic information for each suburb in Hervey Bay, Maryborough, Burrum Heads, and surrounding areas.

Utilizing Suburb Market Updates for Informed Decisions

Stay Informed and Ahead of the Curve: Using this comprehensive data, we create detailed Suburb Market Updates that provide valuable information and insights into the local real estate market.

Our Suburb Market Updates are based on the most up-to-date statistics, allowing you to stay informed about the current trends and conditions in your desired area. Whether you’re interested in buying, selling, or simply staying informed, our video based suburb reports provide a wealth of information to help you make informed decisions.

By analyzing key factors such as median prices, property availability, and market demand, we deliver accurate and detailed information that showcases the current state of each suburb. Our team of real estate experts is committed to providing you with reliable and up-to-date real estate suburb data, allowing you to navigate the local Hervey Bay and Maryborough region real estate market with confidence.

Stay informed with our Suburb Market Updates and gain valuable insights into the local real estate landscape. Whether you’re a buyer, seller, or investor, our reports are designed to keep you ahead of the curve and provide you with a competitive edge in the market.

Contact us today to receive our latest Market Updates for your area or suburb, and unlock the potential of your real estate endeavors.

urangan latest market updates

 

You might also like to read these pages about Property Brokerage Real Estate Sales Services:

Why Choose Property Brokerage Real Estate Agency to Sell Your Property?
Best Urangan Real Estate Agents Hervey Bay

What is the Difference Between an Appraisal of a Property or a Valuation?

Many people don’t know the difference between a house appraisal and a house valuation. Although these two terms are indeed similar, legally they differ tremendously. Also, real estate agents usually provide homeowners with a free appraisal, whereas registered valuers charge for real estate valuations.

By definition, an appraisal is an act of assessing something or someone.

A property valuation is a legally acceptable, ethical, evidence-based procedure for estimating the monetary value of an item at a given period. This is always undertaken by a qualified, professional valuer

Who is more accurate regarding a sales price prediction? The real estate agent or the property valuer?

Real Estate Agent/Broker – An agent may know something that the valuer doesn’t. For example, a real estate agent may have recently sold a neighbouring property just a few doors or streets away. The agent will then know what the nearby property sold for, unsuccessful bid amounts if sold by auction, or other offers that may have been made if sold by private treaty, general buyer interest, etc. If a similar house comes onto the market, the agent will have a fair idea of what the house is worth. This information would be very useful when creating an appraisal.

Valuation– In a legal dispute, a court may direct the parties to hire a registered valuer to carry out a property valuation. Likewise, an inherited property requires a valuation, as do mortgage/finance, insurance, and pension financial criteria limits, etc. These situations call for a licensed registered valuer to provide property valuations in the form of a written report for which the customer pays a fee.

Appraisal– It’s a professional estimate made by the real estate agent using current sales and local real estate trends. Real estate market appraisals have no legal standing in court. A property owner may wish to know its current value for a variety of reasons such as thinking of selling, or curiosity as to what their home is currently worth. If you’d like to request a free home appraisal, click on the Free Real Estate Appraisal Button below.