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24 September 2017

How to know the true value of your home

There is one excellent way to know what your home is truly worth: Before you call an agent, call a valuer.

A valuer is not biased about your home because a valuer has no financial interest in the value. You are naturally biased because you want the best price. The agents are biased because they want to be selected as your agent. And the buyers are biased because they want to buy for the best price. Valuers are the only people who are not biased – they get paid no matter how much your home is worth.

Valuers are highly qualified, their’s is a specialised field. But most important of all – from an accuracy point – a valuer can be legally liable for a mistake. Valuers are careful.

You too should be careful. You should have an independent valuer – not one who works in a local real estate office – inspect your home before you call an agent.

A valuation is a great investment for a home worth hundreds of thousands of dollars. It gives you powerful knowledge. It enables you to make plans based on facts not opinions of people who have a financial interest in the sale of your home. Every home should be valued before being sold.

Once you have a valuation – and you are aware of all the mistakes you must avoid – you are ready to select your agent.

The above is an extract from the book Real Estate Mistakes.

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