Sales Appraisals Explained
Also known as a property appraisal or market appraisal, a sales appraisal is a key first step in selling your property. An accurate appraisal first and foremost answers the question: ‘How much is my property worth?’. When conducting a sales appraisal, our local experts consider the estimated property value in relation to the current market conditions by considering similar homes that have been sold in the local area in the last 90 days. Once an accurate property value estimate is determined we are ready to move to the next stage of selling your property assets.
What We Consider
There are multiple factors, comprehensive data sets and pieces of property information the experienced real estate agents at Wellington & Reeves consider when determining the value of your property:
Where Your Property Is Located
Location plays a significant role in sales appraisals. During an appraisal we consider the street, the suburb, the local attractions and surrounding amenities (e.g. local council zoning and school catchment areas).
Features of the Property
Property features include the property size and property type, inclusive of the number and size of bedrooms, the number of bathrooms and other features such as carports and appliances.
Property Condition
The condition of your property is another significant factor that will impact on the estimated property value. During the property appraisal process we may also provide recommended property improvements to help increase market value and assist with sales opportunities with potential buyers.
Recent Sales in the Area and Local Market
At Wellington & Reeves we have a detailed understanding of the property market in Albany and surrounding suburbs. When assessing the value of your property we consider other similar, recently sold properties to make an accurate assessment of your property’s true value.
Sell Your Property With Wellington & Reeves
By entrusting the sale of your property to Wellington & Reeves, you are assured the personal commitment and excellent professionalism of not only your Sales Representative, but the full team of local real estate agents in achieving your objectives.
Our activities are based and specialised in Albany, and we therefore have intimate local knowledge of the real estate market in the Great Southern region and around the Albany area.
This knowledge is invaluable when identifying the relevant market information required to establish a credible selling price for your property.
Your Marketing Plan
Our Sales Appraisal Process
We will take into account:
• A direct market comparison of your property with other similar properties currently for sale, and those recently sold in the same area;
• An assessment of the impact that the key marketing factors of your property will have on buyers. Features such as location, size and condition of your property;
• Current levels of supply and demand in the marketplace and prevailing market trends; and
• An impact assessment of the key marketing factors of your property.
Identifying and Researching the most likely purchasers of your property is the foundation of a successful marketing strategy.
Looking to sell? When you choose Wellington & Reeves to sell your property you are partnering with our entire sales team who are consistently active in Albany and the surrounding area.
Marketing Package
To ensure maximum exposure of your property, we have developed a marketing package, encompassing both traditional and digital marketing, to suit your needs. This includes:
• Placement of a ‘For Sale’ sign in the most prominent position on the property; A large sign board can also be arranged.
• Photographs of the property will be displayed in our Albany office window;
• Creation of an effective advertisement to place in selected newspapers, including the Albany Advertiser (Southern Living) and the Extra;
• Preparation of a property profile brochure for distribution to enquirers, other local agents and surrounding properties;
• Assurance that every qualified buyer will be shown through the property at mutually convenient times;
• Arrangement of Home Opens for weekends; and
• Creation of an effective advertisement promoting your property to the world via the internet on various websites.
Websites
Wellington & Reeves also advertise online with popular websites to maximise your property’s exposure in the marketplace. This is the best way to get your property in front of as many prospective buyers as possible.
Professional Photography
As part of your marketing package, we have professional photos taken by our exclusive master photographer, Steve Hancock from South Coast Media. This includes the option of using a drone.
Whether you’re selling a modest home, a mansion, a farm or even vacant land, Steve will help us, help you sell your property faster.
Frequently Asked Questions
What Is The Difference Between Appraisals & Property Valuations?
No, a sales appraisal is an informal estimate of your property’s value provided by a real estate professional. Many real estate companies offer free property appraisal services. On the other hand, a formal property valuation is conducted by a licensed valuer and is legally recognised for purposes like securing a mortgage or settling disputes.
Will My Appraisal Be The Same As My Final Sale Price?
Not necessarily. The appraisal provides an estimate of your property’s market value giving you a better understanding, but the final sale price will depend on buyer demand, negotiation factors and market conditions at the time of sale.
What Happens After I Receive My Property Appraisal?
Once you receive your appraisal, you can use it to set a listing price, decide whether to sell now or later, or plan improvements to increase value. Your real estate agent can guide you on the best course of action based on the results.