RP data/ Core logic

Discussion in 'Property Experts' started by Christian77, 2nd Jul, 2018.

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  1. Christian77

    Christian77 Active Member

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    Hi,just a quick question, does anyone know if there are any site that charge few $$ for a proper property report without subscribing and pay so much for one off report? We have done the free ANZ one and the report came back a lot lower that what we thought.
    Any help would be great thanks
     
    Christian77, 2nd Jul, 2018
    #1
  2. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Myself and several other brokers here have full subscriptions. If you email the address to me, I'm happy to send a full report (much better than the ANZ report).

    I need an email as the Property Chat message system doesn't allow attachments. Don't worry, you won't go on any spam lists. :)
     
    Peter_Tersteeg, 2nd Jul, 2018
    #2
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  3. Christian77

    Christian77 Active Member

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    Thank you
     
    Christian77, 2nd Jul, 2018
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  4. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Hi @Christian77 I can see from another thread that you're in the process of buying a house and it's not so smooth - the RP data reports can be way off the mark too, so bear in mind that it also may not be accurate. I would avoid basing any kind of negotiation on this.
     
    Jess Peletier, 2nd Jul, 2018
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  5. thatbum

    thatbum Well-Known Member

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    Agreed. I wouldn't use those reports and "valuations" for anything except a very, very quick general ballpark range to start your research on.

    This from someone who has a subscription himself to use for investing purposes too. I use a lot of the features, and the sub is extremely useful - but just not for the reports themselves.
     
    thatbum, 2nd Jul, 2018
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  6. MLD

    MLD New Member

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    I would stay clear of using RP Data to generate a valuation report. The AVM (Automated Valuation Modelling) does not account for a lot of factors that can actually have a dramatic impact on value - like dwelling characteristics, relevant sales (they can be way off the mark for comparable sales), recent zoning changes, recent spending/announced spending on investment within the community... the list goes on. This can create a massive spread (I have seen a spread between $490,000 and $630,000 - just like a school kid guessing), or a spread that does not even line up with expectations of agents and valuers!

    For someone that does not know how to do a valuation, the easiest and cheapest way to get a decent ball-park figure on you property is to approach a few sales agents (although watch-out, they are incentivised to sell your property of course) currently active in the suburb - and surrounding suburbs. They should give a decent indicative spread on what to currently expect.
     
    MLD, 11th Jul, 2018
    #6