How To Value Property

These days everyone has an opinion on real estate; many like to tell real estate agents at BBQs and other social events how much their property is worth, how their neighbour ‘under sold’ and got ‘ripped off’ and so on…it’s practically a national sport!

However, actually placing a price on a property clearly requires some rationale based on many factors; this is why independent valuations are helpful and buyers will generally give them credibility when deciding what their offer will be for a particular property.

If you want to be a bit scientific about it (which is essential), here are some tips to assist you to think like a Valuer:

  • Take the ‘emotion’ out completely, your judgments need to be based on evidence and facts;
  • Research – this is critical.  Know what’s happening in the local market; attend auctions, get online, and      see what properties are actually being SOLD for as opposed to LISTED at, talk to a variety of local agents;
  • Inspect the actual property thoroughly, look for all positives and negatives;
  • Procure an independent valuation – get the professionals to provide you with their estimate, it equips you with some collateral when making (or rejecting) an offer;
  • Location – has a huge impact on price and re-sale appeal/value, we cannot stress enough the importance and value of a desirable as opposed to undesirable location.  However, this can change over time also due to varying factors such as public perception, infrastructure projects etc…this is very much an organic variable;
  • Comparison – look at what similar properties in the local area have sold for recently;
  • Overcapitalisation – don’t pay extra because someone has overcapitalised, you don’t need to pay for their poor decisions;
  • Context – remember everything is interconnected and the ‘whole’ picture needs to be looked at.  In regard to price, the market can change quite quickly, it is important to find the most recent prices achieved, because even a year prior can be misleading in certain markets due to the fluid nature of all of the factors that influence price.  For example, global financial events causing uncertainty can very quickly impact the housing market, or localised events such as announcement of the closing down of a factory that is a major employer in the area.

Ultimately the key is research and ensuring you are getting professional advice from independent sources also.  Many family members, neighbours etc…may mean well, but ultimately buying and selling a property is a huge financial commitment that stretches for many years, and it is just so important that you are equipped with enough relevant information to make the most informed decision possible.

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Sheree Atkinson
Rated 5.0
April 11, 2023

Lee made the selling of a deceased loved one's unit a smooth process at a difficult time. He ensured continued exposure of the property in the market and guided me through the requirements and decisions needing to be dealt with. I found Lee to be very capable, friendly and reliable and would highly recommend him to other sellers.

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Diane Harrison
Rated 5.0
February 12, 2022

I highly recommend Lee and his Team to anyone wanting to sell. There were numerous issues along the way of our sale, which delayed the final settlement by months (none at the fault of our agents). Lee talked everyone through all the issues and ensured that everything was resolved with minimal fuss. He saved the day (and the sale) on numerous occasions and kept things on track when we had all but given up. Many thanks

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Graeme Smith
Rated 5.0
February 4, 2022

I was very satisfied with the assistance provided to me by Lee personally and his support team. Real estate dealings can be very stressful but Lee did not create any stress for me. Thanks Lee.

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Carolyn Brewer
Rated 5.0
February 2, 2022

Lee was amazing throughout the whole sale process. We'd actually met Lee years earlier when we were thinking of selling and he gave us his books. We kept them and read through when we were ready to sell and called him again. We followed his advice to get our home sale ready and we had record numbers through on our first open home. We got numerous offers well above our asking price and received $50k over the asking price! Lee and Justin are a fabulous team, so professional and really know the real estate market. We're glad we chose them as our agents and would highly recommend them.

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Randall Burow
Rated 5.0
February 2, 2022
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Corrie Hemming
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February 2, 2022

I found Lee to be knowledgeable, efficient and helpful. He assisted me with my home purchase and was able to guide me through the process.

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Carly C C
Rated 5.0
January 30, 2022
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Arthur Collins
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January 30, 2022

After listing our home with other agents for 3 months with out any luck, Lee had it sold within a week of listing it and at a price above what the other agents said we would get. would recommend Lee any time.

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Lynda Michel
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January 28, 2022

Lee and his team were simply amazing. From the marketing right through to the sale of our precious home. Highly recommend for a professional property agent.

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Ian Mayers
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January 28, 2022

From the first meeting until the last we knew we had made the right choice with Lee, Justin and the team at Leading Realty. No nonsense honesty is what you get, no hidden costs, very upfront and a great deal all round. The follow up was fantastic, really more than helpful. Cannot praise nor thank them enough

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ian mayers
Rated 5.0
December 8, 2021

Would highly recommend Lee and his team. Very helpful, professional and courteous. Excellent result for the sale of our home. Sale was Well over list price and sold in four days. Kae and Ian Mayers

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Wilma Fratter
Rated 5.0
November 1, 2021

Always a pleasure working with Lee and Leading Realty team. Exceptional communication and professionalism. Looking forward to be apart of their marketing team.

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Karen Giumelli
Rated 5.0
April 16, 2021

Lee and his team have just sold our property in Bli Bli for well above the listed price. His professionalism and attention to detail when listing our property resulted in multiple offers at the first open home that exceeded all our expectations. Lee guided us through the whole process from listing to sale with patience and good humour making it stress free for us.

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Carla Humphreys
Rated 5.0
April 14, 2021

I was lucky enough to work with Justin Christopher, he was a pleasure to work with, very friendly and professional.

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Natalie Atkinson
Rated 5.0
April 14, 2021

I have dealt with Lee and his team for over 10years. His professionalism, knowledge and hard work is a true asset to himself and his clients. I am confident in recommending Lee to anyone wanting to buy or sell real estate on the Sunshine Coast. Thanks for all your hard work.

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Dave Graham
Rated 5.0
March 6, 2021

The team at Lee Sutherland are superb! Their friendly, responsive team will do everything they can to assist. Highly recommended if you're looking for a Real Estate agent on the Sunshine Coast.

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Naomi Twyford
Rated 5.0
March 2, 2021

Lee & Justin are one of the best agents on the Sunshine Coast! Their passion for acheiving the best result possible for thie clients is unrivalled. I have had the pleasure of knowing them both for just over 4 years and during this time I have seen the lengths they will go to for their clients. Congratulations gents on building such a powerful real estate team - Naomi

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charlie brown
Rated 5.0
January 22, 2021

Lee and Justin are the best agents we have ever dealt with. They are kind, courteous, knowledgeable, proactive and honest. They are the very best in their field and always have their client's well being in all their negotiations. If they say to do something...just do it! you will be amazed at the result. Lee was able to return an extra $30k above listed price by utilising his immense knowledge of the Real Estate industry. You cannot go wrong.

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Jamie Thorburn
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January 23, 2020

Just bought a house in Buderim. Lee and Justin were the agents for the seller - they were a pleasure to deal with: friendly, thoroughly professional, and always ready to respond to our call or email. Thanks guys! We’re planning to stay here for quite a while - but if we were to sell up, without any hesitation this team would be our first call.

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