Introduction
Independent Valuation vs. Agent Valuation
Tips to Maximise Your Home's Value
Thoughts on AI Valuation
How We Value Properties at Najib Real Estate
Conclusion
FAQ
In this blog, I will share with you my step-by-step guide to valuing your home and strategies to maximise its value. At Najib, we strive to be transparent and avoid making unrealistic promises to our sellers during their selling journey.
It is important to understand why a property appraisal is recommended. I will explain the difference between the two types of valuation and what will work best based on your preference.
Additionally, I will provide tips that can significantly increase the value of your home.
Independent valuation is typically done by a professional valuer or appraiser who you pay to assess the logical value of your home based on various factors such as size, location, and recent sales of similar properties in the area.
Agent valuation is conducted by a real estate agent who specialises in the local area. They have a deep understanding of the market and are familiar with recent sales and listings. When valuing your home, an agent considers both its physical attributes and its overall appeal. They consider factors such as renovations, alterations, and the flow of the house.
Agent valuations are often more accurate than independent valutations because agents have a deep understanding of the local market. They have firsthand experience with similar properties and can provide a more comprehensive assessment of your home's value.
At Najib we provide complimentary valuations.
Now that we understand the different types of valuations in the property market of New Zealand, let's explore some strategies to maximise the value of your home. By following these tips, you can potentially achieve a 10 to 15% higher price than the current market value.
Ensure your home is well-maintained both inside and outside. Address any necessary repairs, such as cracks or peeling paint, before listing your home. Buyers want a property that is move-in ready, so taking care of maintenance issues will make your home more appealing. Additionally, pay attention to your garden and landscaping to create a visually pleasing environment that buyers will love.
Maintenance creates a huge difference to make the house look new and up to the market and making the buyer feel worth paying for.
The way your home is presented can significantly impact its perceived value. Consider staging your home with the help of an interior designer to create a show-home look. Proper furniture arrangement and tasteful decor can make small rooms appear larger and showcase the full potential of your property. A well-presented home gives buyers the impression that they won't need to invest additional time and money into renovations.
At Najib we provide free home styling consultations as we have firsthand experience how this affects the final home sale price.
Read a simple guide on Tips for Selling
Effective marketing is essential to make your home stand out from the crowd. Utilise professional photography, videos, and floor plans to showcase your property's best features. Engage in comprehensive online and offline marketing strategies to attract a wider pool of potential buyers.
One thing we strongly recommend to avoid is when an agent pays for the marketing of the property, they may opt for cheaper or less effective real estate marketing strategies. This can limit the exposure of the property to potential buyers and ultimately impact the final sale price. Review a real estate agency's marketing online, this is a good indication of how they will affectively market your property.
Watch our video on Choose Your Real Estate Agent Wisely | Selling Your Home
Research shows 72% buyers skip a listing if there are no price guides.
Having a clear price guide can help you attract the right potential buyers to view your property and sell faster.
At Najib what makes us different is 95% of the time we have price guides on our listings as we like to be as transparent as possible for both buyers and sellers.
Because people are time-poor, they don’t want to invest in researching and visiting a property in case it turns out to be out of their budget. By adding a price, we are offering potential buyers some certainty. They are able to visit an open home with the confidence that they are in the right ball-park with their budget.
AI valuation, which relies on algorithms and data analysis, is a quick and convenient way to estimate your home's value. However, it lacks the human touch and local knowledge that an agent or independent valuer provides. AI valuation mainly considers the size and location of your home, overlooking important factors such as renovations, alterations, and overall neighborhood desirability.
While AI valuation can give you a rough estimate, it is not as accurate as a professional's assessment. To get a more precise value, it is recommended to consult with a real estate agent or independent valuer who can consider all the relevant factors and provide a more in-depth analysis.
At Najib Real Estate, we have a thorough process for valuing properties. Let's take an example of a property located at 1 Langdale Place in Christchurch (watch the video above). We start by entering the key property details, such as the number of bedrooms, bathrooms, and garages. Then, we analyse recent sales in the area to find comparable properties and any alterations or unique selling points of the property.
If you are interested in selling your Selwyn or Christchurch home and want to know your property's current value, get a free appraisal today to have a chat.
Having knowledge about a specific neighbourhood and experience in the market creates a huge difference when thinking about getting a property appraisal done from your local Christchurch real estate agent. These strategies can help you get a better value and our team here at Najib will help you throughout the selling journey with a professional consultation, tips, discuss your expectations and get you your desired deal as soo as possible.
What is the difference between independent valuation and agent valuation?
Independent valuation is conducted by a professional valuer or appraiser, considering logical factors such as size and recent sales. Agent valuation is done by a real estate agent who specializes in the local market and takes into account factors like renovations, alterations, and overall desirability.
How can I maximize the value of my home?
Focus on maintenance by addressing necessary repairs and maintaining a well-kept garden. Present your home in its best light by staging it with the help of an interior designer. Effective marketing, including professional photography and clear price guides, can also make a difference.
How accurate is AI valuation?
AI valuation provides a quick estimate but lacks the human touch and local knowledge of professionals. It mainly considers size and location, overlooking factors like renovations and neighborhood desirability. Consulting with a real estate agent or independent valuer can provide a more accurate assessment.