What’s my home really worth?

I don’t know about you, but multiple adverts pop up on my social feed asking if I want to know what my home is worth. So how do you know which one is accurate?

There are a few ways this report is generated for you so it’s best to enquire where the information is sourced from if it isn’t noted on the report you receive.

The first one is an AI computer generated estimate which sources the data from property portals such as realestate.co.nz, trade me property, homes.co.nz, oneroof.co.nz.

The second is the most accurate which is carried out in person. The agent then can view the features of the home that adds value such as consented minor dwelling, renovated interior so will compare like for like with those similar sold in the area.

The third is an agent generated online estimate. The more information you give the agent the better but if the agent has your address only, they will compare the floor and land area with those that have sold in the area that have a similar land and floor area.

These are guides only of course as it depends on who is in the market at the time when you do decide to go to market. It’s well researched that it’s buyer competition that generates a higher sale price.

How to get buyer competition? A strong marketing campaign (that attracts both passive and active buyers), quality presentation of the home, method of sale (think auction) and the right agent are all keys to attaining the best sale price for your home.

There are of course bank valuations and registered valuations as an alternative option if you wanted to obtain a second opinion on the report you receive from an agent.