So, you’re thinking about selling. You’ve seen a few signs popping up in your street and in the surrounding area and you’re intrigued. You’re wondering how much they’re selling for, which leads you to wonder how much your property would be worth and whether appraising is worthwhile.
The property market is ever-changing, and whatever your property was worth last year has changed now. Up-to-date appraisals are crucial in the consideration of selling your home. Hutton & Hutton offer free real estate market appraisals that will give you an accurate idea of your property’s worth. How do we do it? We break it down into a tried and tested ten-step evaluation method.
This article will unpack our method and help you understand our processes at H & H. However, if you’re interested in booking your free market appraisal, click here to fill in the form and we’ll contact you ASAP.
Step 1: Location
The location of your property is wildly important to understand it’s value. However, we don’t believe that every property in a certain area should sell for the average price. We consistently strive to think outside the box and obtain our clients’ ‘Love Price’.
Step 2: Improvements
If you’ve recently redone the bathroom or put in an air conditioner or simply updated the walls with a fresh coat of paint, we want to know about it. Improvements quite often increase the value of your home, as buyers love updates.
We will also recommend improvements if we see a need for them in our appraisal. If your kitchen features wallpaper reminiscent of an 80s nightmare, we’ll make sure to advise you on what you can do to make the space more appealing to the right buyer. When it comes to the sale, we offer professional styling to increase your property’s appeal, so don’t stress too much about gaudy interiors!
Step 3: Maintenance
Maintenance is just as important to your buyer as improvements. We factor in the maintenance condition of your property in order to gather a well-rounded appraisal.
Step 4: Presentation
Your property’s presentation is crucial to getting you the ‘Love Price’. The more memorable your property, the more inspections you get. The more people through the door, the more offers you receive. Ultimately, the more offers, the more room you have to negotiate for your dream price.
Whatever makes your property stand out from the crowd, tell us! It’ll drastically help in providing you with an accurate appraisal.
Step 5: Neighbourhood
What is your neighbourhood like? Are you close to a school? Perhaps you’re within walking distance to an incredible little shopping area? Maybe there’s a fantastic nightlife scene nearby?
The neighbourhood is incredibly important in securing the right buyer, as the community is just as important as the property itself.
Step 6: Market Conditions
Seller motivation and buyer motivation are an important influence on the sale price. However, market conditions will always play a huge role in determining your property’s value.
Step 7: Market Trends
Our agents at H & H have unparalleled knowledge of the market trends in New Farm, so you can rest assured that the advice you’re receiving is current and relevant.
Step 8: Recent Sales
When most other agents look at appraising properties, one of their key steps is using recent sales as a benchmark average. At H & H, we know that similar properties simply don’t sell for similar prices!
There are far too many dynamics involved to simply assume a property will be sold for the same price as the one next door. We use these recent sale prices in understanding the market, but we refuse to use them as a concrete comparison and example for your individual case.
Step 9: Supply vs. Demand
The final price offered for your property can quite often depend on supply and demand in the area. Analysing this dynamic gives us a good insight into the speed in which your property will sell and the level of pricing support we can expect.
Step 10: The X-Factor
The key question is what is your property’s X-Factor? What will keep interested buyers coming back for more inspections and what does it mean for your appraisal price?
We’ll identify your property’s X-Factor, and if it’s not immediately apparent, we’ll help you create one. This element is the most important to finding the right buyer for you and getting you the ‘Love Price’. Therefore, finding or creating the X-Factor for your property is the most important part of our appraisal process.