Formal Valuations of Residential and Commercial Properties
A formal property valuation is conducted for buyers and sellers of residential and commercial real estate to determine the true market value of the property.
It gives potential buyers a detailed and comprehensive report of the strengths and weaknesses of the property so they know what they’re buying and what they should pay.
Property valuations are also useful when selling real estate so you don’t sell for less than market value.
Our Valuer In Charge Bernie Seth is a member of the Australian Valuers Institute
What is a Formal Property Valuation?
The results of a formal property valuation are a starting point for negotiating a reasonable price for real estate, although the final price often differs from the valuation due to people’s perception, demand and other market influences.
A property valuation is called formal because it’s much more comprehensive and in-depth than a free market appraisal.
Only qualified property valuers can undertake a formal unbiased valuation which takes into consideration all factors that can affect the property’s value.
The process takes around three days and includes a detailed description of the property, any environmental or market risks, the general condition, zoning classification, and any other issues that are found.
Recent sales of similar properties in the area are also used to determine the correct market value.
The end result is a formal report that is a legally binding document.
Reasons to Use Property Valuers
One of the major reasons for a property valuation is for lending institutions to ensure there is enough security in the real estate to cover the loan they’re offering the buyer in the case of mortgage default.
This applies if you’re buying a home, or considering property investment and property development.
Other reasons for property valuations are property settlements, as security for a loan or mortgage refinancing, court ordered dispute resolution, bankrupt or deceased estates, financial accounting, insurance or stamp duty, and government compulsory acquisition of land for public property development.
Sellers use formal valuations to get a good idea of the value of their property and a potential selling price, and also to decide whether to make improvements to increase the value before putting it on the market’
A valuation can also help you decide if now is the right time to sell or if you’d be better off waiting till the market improves.
Know the Value of your Real Estate
Property valuations are for any type of real estate. Landowners need to know the land value for selling or property development. Home or commercial property owners or buyers need to know what sort of price they can expect.
The important thing to remember is always use a professional, qualified and respected property valuer who uses a systematic approach to assessing your residential or commercial real estate.
At Seth Real Estate we provide property valuation services for all types of real estate in greater Sydney.
Our customised service ensures your formal property valuation is the most comprehensive and up-to-date document reflecting the true market value of your real estate.
Property Valuers
At Seth Real Estate, our three decades of experience and our wealth of information about the real estate industry enable us to offer you personalised attention and fully integrated real estate solutions.
We specialise in residential and commercial real estate and we’re here for you with a full range of services that change and evolve over the years to suit your changing needs.
We can provide a comprehensive formal property valuation for your residential or commercial real estate as well as a less formal market appraisal.
To discuss getting a formal property valuation with one of our friendly, professional team members, call us on 02 9822 8380 or 0410 230 570 , or contact us online using the form provided.
Great Auctioneers make Great Auctions
No matter what’s going under the hammer, any auction is only ever as great as its auctioneer. In real estate, a successful auction is comprised of many moving parts.
Readying your property for market, identifying key prospective buyers, and the right marketing strategy are all vital — but it’s a skilled, knowledgeable auctioneer who brings it all together on the day.
It’s a unique skillset required to conduct a successful auction, and get the right result for the vendor. Equal parts knowledge, charisma, and experience are key, as well as the ability to read and react to the crowd.
Anatomy of an Auction
Anybody who has been present for a residential or commercial real estate auction can appreciate the elements of performance and theatre involved.
Great auctioneers must have a sense of showmanship. They aren’t just taking bids and spitting out numbers — they need to build confidence in the property, read the room, identify potential buyers, and adapt on the fly.
They’re monitoring body language and eye contact, all while carefully maintaining the pace and tone of the auction with their voices. Like the excitement created by great sporting commentators, an elite auctioneer knows how to harness and amplify the energy and sense of competition brewing in the crowd.
It’s a critical part of the auctioneer’s job to generate urgency and emotional response among bidders. This could make the difference between a property meeting or exceeding its reserve price.
Residential Real Estate Auctioneers
The best residential real estate auctioneers are tuned in to the local area and its people. This enables the auctioneer to conjure for prospective buyers an image of the life they could live in the property.
They have to know the schools, the shopping precincts, public transport, and how it all fits together in the lives of the locals. The stronger the emotional connection your auctioneer can foster, the better chance of drumming up competition and hunger in the crowd.
Commercial Real Estate Auctions
While the auction process is similar to that of residential real estate auctions, specialised commercial real estate auctioneers must possess additional skills and specific knowledge.
Commercial real estate exists on another playing field altogether, where the players are dealing in bigger numbers and higher stakes. Your auctioneer is appealing not to prospective home-owners, but to fiercely competitive investors and businesspeople.
To rise to this challenge, they need to be able to talk return-on-investment, commercial and industrial leases — all with a keen awareness of broader economic trends.
Training for Success
Anybody can learn the sales game, but at Seth Real Estate, we know great real estate auctioneers need to go beyond talking the talk.
Drawing from over 30 years of experience, we provide our auctioneers the in-depth training, knowledge and techniques to ensure they can turn a crowd of tentative bidders into confident buyers.
Our Real Estate Auctioneers
Whatever kind of property you’re selling around Sydney, Seth Property Auctioneers offer complete, quality auctioneering services you can trust. We know the Sydney real estate markets, and how to turn that knowledge into great results for our vendors.
If you want to maximise your sale, hiring a skilled Seth Property Auctioneer is an essential step to success. Call us today on 02 9822 8380
or 0410 230 570.
Importance of having a premier property manager
The value of having a great property manager when it comes to the properties you own, your home, or your investments, is undeniable. If real estate is not your specialty, that’s ok - in order to correctly sell your home in a legally sound, empowering way, it’s important to employ a team with the right level of know-how and organisational skills.
At Seth Real Estate our property managers have your interest at heart, with key qualities to make sure you are being looked after. Our property managers have immense industry knowledge, having a strong understanding of the local area. This gives us the cutting edge, with our residential and commercial property managers adhering to all local laws and understanding the areas which will improve property value and rental potential. Our property managers will put themselves in your shoes, with the aim to generate you wealth and receive the return on investment you deserve.
A great property manager will be knowledgeable on all current property laws, will list your property for lease, lease out your property to adequate renters that meet your standards, find the appropriate tenants that tick all the boxes and manage all required paperwork and rental agreements so that you, as the landlord, can sit back, relax and remain stress-free throughout the process.
Choose Seth Real Estate! Give us a call and be confident in your property’s prospects with the relationship-based, determined, leading real estate agency in New South Wales. Call us on 02 9822 8380 or 0410 230 570
