Why PropertyPricer?

In developing this new method, we undertook extensive market research involving many interviews and 25 focus group discussions. Results clearly show that most people (75%) are frustrated and sceptical with the current way properties are valued. Typically, a property valuation is based largely on the last three sales in the area. This is unconvincing when we know properties are different in many important ways.

"I am always a bit sceptical of prices given to me based on three other properties in the same area. I like how all the features of my property are included and it gives me a calculated answer without any guesswork."

Sam

Wollongong, NSW

Current methods tend to be based on comparisons and speculations, often varying greatly from one source to the next. This results in generalised and broad price ranges creating a lack of confidence in the dollar figures available. This can become a guessing game where people are at a great disadvantage in the negotiation exercise.

Our research shows that the majority of participants (69%), felt they couldn’t get accurate property values they could rely upon. They said this impacted their negotiation power as buyers and sellers. This has created a clear and obvious need for a more accurate and transparent method that people know they can trust as part of their toolbox in valuing properties.

A lot of properties for sale are now price on application, and there is a current trend for ‘blind auctions’ where buyers are asked to make an offer without knowing what other parties have offered.

"We are going in with nothing, totally in the dark, afraid to offer too much and over capitalise or to offer too little and miss out. PropertyPricer provided us with a realistic price indication giving us a solid base to work from."

Simon

Brisbane, QLD

Equipped with PropertyPricer’s specific valuation, people are more empowered in the negotiation process and enabled to make confident choices and informed decisions.

Accurately measures the predicted selling price of a property.