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June 2016

How And When To Value Your Property 2016?
By Bernie Tynes


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Infinity property Agents manages an evidenced based pricing system using the latest up-to-date Australian subscription software. In addition to local demographic and geographic information on your property, the software allows us to examine every comparable property that has rented, currently for sale and those recently sold according to various attributes such as number of bedrooms, bathrooms and car spaces for specific periods of time.

A physical inspection of your property by an Infinity Property Agent allows us to determine the physical attributes such as building structure, layout, condition, age, improvements, visible outlook from the property, and proximity to amenities and infrastructure such as schools, parks, transport options and shopping complexes.

In addition to all of the above, prior sales and valuation experience of the property agent plays a significant part in determining the true value of your property and at Infinity Property Agents; we have the benefit of 25+ years local Sydney property experience. We only work in the Sydney market and our experience, knowledge and customer client base is solely formed around the Greater Sydney region.

Underquoting laws:

In January 2016, the NSW government introduced new laws that prevented agents from understating property prices. Agents are now required to provide and advertise a specific price or price range for each property and the price guide the agent gives to a prospective buyer must match the estimate agreed upon with the seller in the Sales Agency Agreement.

An offense is committed when a price is stated and/or published that is less than the reasonable estimate of the property’s selling price. An underquoting offense may attract a fine of up to $22,000 and loss of commission and fees earned from the sale. This is being monitored by NSW fair Trading.

The laws were introduced to prevent interested buyers from wasting considerable money and time on inspecting properties, paying for various reports such as Strata and Council reports and then attending auctions simply based on price estimates that have served little to no purpose.

A complete list of the reforms can be found here >
http://www.fairtrading.nsw.gov.au/ftw/about_us/legislation/changes_to_legislation/underquoting_reforms.page

About Infinity Property Agents:

For over 20 years, Infinity Property Agents have been providing property sales and management services for the Sydney market. We have an established customer database of potential buyers and experienced investors who are seeking to expand their property portfolio. Our expert negotiation skills have resulted in record sales performance and the level and value of service that we offer exceeds that of any of the larger real estate brands.

For a free, no obligation valuation of your property, call Infinity Property Agents on 9699 9179 or email infinity@infinityproperty.com.au.

Author: Bernie Tynes, Marketing Manager (MBA, B.Bus Mktg)