Appraisal from REA

Discussion in 'The Buying & Selling Process' started by pwt, 21st Feb, 2017.

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  1. pwt

    pwt Well-Known Member

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    Many of us would have got letterbox drops from local REA offering free property appraisals. I am tempted to respond to one of these offers for free appraisal not only to find out how much my PPOR is worth (I got a rough idea but always keen to hear another opinion) but also what reno can be done to improve the value. My wife and I have no plans to sell.

    Has anyone got one of those free appraisals? Are there any traps to it? I am just aware that the agent might keep hassling me for the next 5 years :)
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Get a new email address and a cheapie phone card. Dump both once you have dealt with them.
     
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  3. dabbler

    dabbler Well-Known Member

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    I find most of them are so slack, they never call anyway, but they are going to turn up and and do the whole spiel, not just hand you a report after spending time on it and walk away.
     
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Best not to get them around then.

    Check out online listing and go to open homes to get an idea of how much renovated properties near you are going for.

    Cheers

    Jamie
     
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  5. Xenia

    Xenia Well-Known Member

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    If we have appraised your house we know where you live.

    If one form of communication does not work then use another.

    Easier to just ask to be taken off contact list.
     
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  6. Xenia

    Xenia Well-Known Member

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    We are agents that do this. Most of us don't mind appraising a house that is not going to be sold for a while - be upfront about what you want.

    It's about relationship building with local potential clients so most agents won't mind giving you the info you want.
     
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  7. Agent30yrs.

    Agent30yrs. Well-Known Member

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    If an agent is that desperate that they need to resort to letter box dropping for listings - They're not the agent you want to seek, or take, advice from.
     
  8. pwt

    pwt Well-Known Member

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    @Xenia agree it is best to be upfront. I find from past experience with purchasing properties is best not to flaff around and waste each other's time.

    @Jamie mine is a house and no 2 houses on my street is the same. Hence, comparing similar sales is difficult. I am keen to get some feedback on what further improvements can be done to value add without overcapitalising.

    @Agent30yrs. Letterbox dropping seems very common in my area. Almost all agents in my area does it, so I doubt it is about their ability, more their preferred marketing style.

    I don't see much downside with getting an appraisal. The agents do say it is obligation free. I do have some reservations if the person sent is the most junior of their sales team though.
     
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  9. Ross Forrester

    Ross Forrester Well-Known Member

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    I think it is valuable to have a good relationship with local agents. If you are honest they will treat you fairly and try to help.

    Good agents want to be known in the area and they will be happy to know you personally.

    If the person is junior and lacks ability then no real harm is done. They might be junior and they might also be a gun so you will then have a life long strong relationship.

    Do not do anything that is deceptive. You are a local and so are they.
     
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