Guides · Stage 1
What happens at a
market appraisal.
An appraisal is the first real step in selling. Here is what I look at, what I'll ask you, what you should ask me, and what you get at the end.
Before the visit
You don't need to tidy up or prepare anything special. It helps if you can have these to hand:
- A list of work you've done on the home, roughly when, and whether it needed a building consent
- Any building or property reports you already have
- Your rates notice, and the LIM if you have a recent one
- Anything you know needs attention. It's far better to talk about it now than have a buyer find it later
What I look at
- The location and land: the street, the outlook, sun, the section and how it's used
- The home itself: layout, condition, light, storage, parking and how the spaces flow
- What buyers will notice first: the street appeal, the entry and the main living area
- Anything that could worry a buyer: unconsented work, maintenance issues, or features that narrow the market
What I'll ask you
- When you'd ideally like to move, and how firm that date is
- Where you're moving to, and whether you need to sell before you buy
- What you love about the home. Owners often know its best features better than anyone
- Whether the home has been on the market before, and what happened
What you get
You receive a written appraisal. It gives an estimated price based on current market conditions, supported by recent sales of similar homes nearby. If there isn't enough comparable information, the appraisal should say so rather than fill the gap with guesswork.
I'll take you through each comparable sale: why I chose it, how it differs from your home, and how much weight it deserves.
Appraisal, valuation or CV? They are three different things.
An appraisal is an agent's estimate of the likely sale price, based on comparable sales. It is free.
A registered valuation is prepared by a registered valuer, usually for a fee, and is often what banks rely on.
Your council's rating valuation (often called the CV) is set for rating purposes on a particular date. It can be well above or below what a home sells for today.
Questions worth asking me
- Which sales is your figure based on, and why those ones?
- What would push the price up or down?
- Which method of sale would you recommend, and why?
- What would you do to prepare the home, and what would you leave alone?
- How and how often will you report back during the campaign?
Ask every agent the same questions, then compare the answers rather than the highest number. A high appraisal that isn't backed by evidence usually leads to price drops later.
Ready for an appraisal?
There is no cost and no obligation.