I have recently put up for sale an empty shop about 90 square metres with a full size house and large garage. The two properties have been subdivided with permits for the shop to have a large apartment build on top. It's a corner block in Kingsville facing a main road with two entrance's on the side street. Both the shop and the house are in their original conditions with all their Edwardian features untouched. From the front of the shop, there is an uninterrupted view of the city skyline. to complement this, the street facing the shop is a beautiful tree-lined street. To cut a long story short, before singing up with the estate agent i was given to understand (very clearly ) that the price i should expect to get on auction would have been around 1.3 mil . I was quite happy with this quote except that when I decided to put the property for sale the quote went down to 700 thousands.
I was wondering if the forum could give me some idea on how I could get a true valuation. I have searched high and low for something close to my property to compare the value but have had no luck.Welcome to the world of real estate agents of up-pricing to get the deal and then conditioning you down to make an easy sale.
To get a valuation you can try another three or four agents in the local area to do a free market appraisal and/or pay to get a sworn valuation by an independent valuer. It may cost you around $500 depending if they see it as a residential or commercial property.That does not mean it will sell for that, all it means is that it is a valuers opinion of its market value. Combine this with a type of average from the various REA's, you will have a better picture.
Good luck
GregSince placing my first question on this forum concerning my property in Kingsville and receiving a great answer from Greg, matters have taken a different turn. This evening the agent rang me once again to get me to agree on the lower price and that he had a very interested buyer for both the shop and the house. When I said no once again he intimated that I was delusional if I thought I could get more for a 1913 shop and 14 square home plus double garage in solid brick. This is when I saw red and firmly told him that the property was off the market. I will be following Greg's advise and get a valuer in and even though it will mean more work I might develop the properties myself. I have done it in the past and know how much work is involved but better that then be swindled by an estate agent.
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