This year the importance of valuing a residential property accurately prior to buying or selling it, has become more and more evident. And yet, inaccurate valuations are regularly being done every week in the Helderberg basin.
Sellers, in particular, should always ask their agents to explain and justify how they have arrived at the valuation they have submitted. If they cannot do this in a totally convincing way, with adequate back-up data, it is likely that they are not true professionals and their valuations cannot be relied on.
Agents working in big, well branded property groups almost invariably have access to reputable data banks which provide them with accurate statistics which, in turn, greatly simplify the valuation process.
Some of the smaller agencies, however, do not have access to accurate market information and, therefore, are prone to making mistakes