Country Property - sell or hold?

#1

Hey there,

Just wondering if anyone has any thoughts or guidance on an approach for a country property.

We bought in 2014 for $300K - should we hold or try to sell? How could we work out what it’s worth?

Currently it’s a fully furnished Air BNB - does that add any value?

Thanks so much in advance for your thoughts

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#2

Hi Vicky, I advise my clients to obtain a formal valuation from an independent qualified valuer who is not associated with any estate agent you may engage for your sale. Sure, it will cost you, but the valuation will not be tainted by the conflicting interests of an agent who may want to win your listing by giving an unrealistically high valuation, as so often occurs. (Admittedly, independent valuers are thin on the ground in country areas.)

If the valuation is much lower than expected you may decide to hold off selling all together.

I would not expect status as a fully furnished Air BNB to make a difference to current market value.

Peter

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#5

Hi Vicky,

I’m Zac Newbold and I have almost 25 years of extensive experience within all facets of property. I provide independent and unbiased real estate advice and always work in the best interests of the client.

I totally disagree with Peter’s assertion that all real estate agents are tainted with conflicts of interests. To say this statement and outcast all real estate agents as the same is particularly wrong and ignorant! Sure, there are always going to be some selling agents that don’t do the right thing, in exactly the same way that there are some bad lawyers out there.

In regards to Peter’s advice about getting a valuer, I wouldn’t recommend that as being a good strategy. Firstly, it’s an unnecessary cost. Secondly, the valuation may be too conservative, not giving you a true market price. Whereas, a selling agent will give you a more accurate market assessment as they are continuously selling properties throughout the year.

One of the services I may be able to offer you is our Seller Advocacy Service, where we interview all the selling agents and then help you select the best selling agent for you, the client. With this particular service, we manage the whole entire selling process and the selling agent only deals directly with us and not you. We find that this type of service makes things easier for the seller.

In any case, I’m happy to undertake a desktop sales analysis on your behalf for no fee but would need the address. I have direct access to sales industry data Victoria only as I’m a licensed estate agent. The purpose is to firstly establish whether or not it’s worth selling your property. The desktop analysis may not be 100% down to the cent, however it will give you a good indication in terms of an estimated selling range.

If you’re interested, please message me directly or contact me on 0418 144 644.

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