The warmer weather and Spring selling season can bring property owners out of the woodwork, eager to improve their home and sell for a premium. Inspired by all the reality TV programs about the subject many will launch straight into a project without knowing how much it will cost and whether it will add value to their property.
This is where you can help and support your case with objective information from RP Data.
RP Data has teamed up with Cordell Information who are the market leaders in building cost information to provide property owners with an estimate for your renovations.
The Renovation Calculator is designed to provide a quick but comprehensive overall price. It will calculate the cost of a building project whether it be a brand new house, an extension, renovation or simply enhancing your outdoor areas. You can sit down with your client and take them through the process yourself or refer them to the following website: www.myrp.com.au.
CMA’s in RP Professional
One of the best ways to inform a client planning on undertaking some DIY to improve the value of their property, is to show them some comparable sales of properties in their local area. By producing a Comparable Market Analysis (CMA) identifying renovated and unrenovated properties, you can show your clients properties that were successfully sold and properties that have languished on the market, then provide your own insight as to why you think this was the case.
Automated Valuation reports in RP Professional
In an instant you can also prepare an Automated Valuation Model (AVM) report for your client. It is a tangible way of showing a seller what their house is worth there and then in their own home. With the use of an iPAD or laptop all you need to do is ask a few questions and customers see a valuation in front of their eyes. It can be emailed it to them straight away while you are still on the premises.
The AVM and CMA are reports that can substantiate the advice you provide to clients wanting to make improvements to their property. With these tools you can help them make the right decisions and avoid over capitalising or falling short of market expectations.
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