What is an agent appraisal?
An agent appraisal is an opinion about a likely selling price, commonly used to discuss a marketing strategy. Its usefulness depends on the evidence, purpose and person preparing it. It should not automatically be treated as a substitute for the evidence required by a lender, court or tax adviser.
What is a formal property valuation?
A valuer assesses a specified property interest at a defined date and for an agreed purpose. A report records the relevant evidence, approach, assumptions and limitations. The brief determines the format and whether an inspection is needed.
Choose by the decision you need to make
For a proposed sale, an appraisal may help discuss positioning and marketing. For lending, tax or legal work, obtain the recipient’s instructions first. Some settings allow different forms of evidence, while others require a particular professional, inspection or report.
Why the figures may differ
Reports can use different dates, assumptions, evidence and purposes. Compare these before deciding that one figure must be wrong. Neither an appraisal nor a valuation guarantees the price a buyer will pay.
Questions before ordering
Who will rely on the report? What date should it address? What property interest is being valued? Does the recipient specify the professional or format? Confirm these points before comparing fees.
Frequently asked questions
Are valuations accepted by every bank?
No. Lenders can have panel, instruction and reliance requirements. Check before commissioning work.
Can an appraisal ever be useful evidence?
It may be relevant in some contexts, depending on the process and evidence required. Avoid blanket assumptions either way.
Sources and further reading
- ATO: Market valuation for tax purposes — Tax valuation evidence, purpose and documentation.
Arrange the right report
Explore valuations with Propti. Send the property address, purpose, required date and recipient’s instructions when you request a property report quote.