An AVM report provides an instant electronic valuation, valuation range and error range based on a property’s comparables, market conditions and recent sales history. Major banks use these reports across their portfolios and for loan applications as a key part of their risk and compliance process.
How do AVMs help property professionals?
An AVM report can help in two ways:
1. It will help you to manage vendor expectations and will support your case when pricing properties appropriately for the market.
2. Similarly, when negotiating with prospective buyers, an AVM report can be used to support your asking price and range and will give them the confidence they need to purchase.
Supported by an AVM, you can reassure a prospective buyer that they:
- Are buying the property at a fair market price, and
- Can expect their lender will arrive at a similar value and therefore, are more likely to gain finance approval.
AVMs also offer an enhanced level of transparency which will help your customers to make informed decisions, faster.
Use the same AVMs that leading Australian banks use.
Three out of four major banks use AVM reports from RP Data. Leading agents state that due to current market conditions they are using AVMs for most of their vendors as an additional value add.
Call 1300 734 318 today to take advantage of AVMs.