Paul Wrigley from Ray White Real Estate Toronto comments on Free Property Valuations for Aussies through Facebook.

Paul wants his clients to be aware of the traps with this latest initiative. Whilst it sounds good in theory a computer can’t tell you what your house is worth. Sure A computer generated valuation might give you an opinion on values in the area and use recent activity and growth, however, a computer can’t tell when the house has had minor or major renovations or extensions done or what the real estate market is doing. The real estate market is changing all the time and unfortunately the computer valuations will be a few weeks if not months out of date

 Paul Wrigley from Ray White Toronto gives this advice on valuations for property,

To get a proper estimate on what your property is worth please speak to an agent and ask them to justify what and why your property should be worth what they are saying. You need to look at comparable sales to see how your house compares to those sales. Look at what is on the market and be careful not to overprice your property compared to those. On top of that your agent should sign a guarantee when selling your property that says if they sell your property for a price less than they quote you there will be no commission payable. This stops the agent from lying to a seller about the likely selling price. If you would like a copy of our service guarantee please call our office on 4959 6577.

 Aussies Enjoy Free Property Valuations

From today onwards, Australians will be given access to free and instant residential property valuations via Facebook.

Launched by RP Data, the initiative was designed to provide consumers with the transparency and confidence needed to manage the country’s largest asset class.

Speaking about the launch, RP Data’s chief executive Graham Mirabito said the company wanted to help Australians make informed decisions about property.

“Australian residential property is now worth over $3 trillion which is three times more than the stock market value. Through our free residential property valuations opportunity, we want to make sure people are not selling themselves short during these current slower than normal times in the market,” he said.

“Our aim is to help consumers understand the real value of a property through using this Facebook app to connect them to industry professionals for advice – we believe it’s our role to educate the media, empower industry professionals and inform consumers by showing them how to research residential property. As the largest provider of property data and analytics to banks, government and real estate professionals, we feel it’s important consumers get access to the best databases in the country.”

RP Data will offer up to three valuations per person via the company’s Facebook page for the next six months.

“This will allow consumers to see firsthand just how properties fare for value right now. Once consumers have registered for a free valuation, the results will be updated each month for every property of interest registered. Additionally, they can click through to our website and download free suburb profiles and statistics on every suburb in Australia,” Mr Mirabito said.

Friday June 10