How does a Buyer's Agent value a property interstate?

As a buyer’s agent, you’re no doubt an expert on valuing property within your immediate area, but applying that well-honed skill to another state can really test your mettle.

To ensure you’re buying in for clients at the right price point and understanding what sets apart seemingly like properties within the same area, you’ll need to undertake comprehensive market research.

Platforms like Pricefinder or RP Data will give you comparable sales analysis information, while understanding the specifics between one property’s higher price over another will also need to be considered. For example, a higher level of maintenance may see one property presenting as a better immediate prospect – and whether that appeals or not will be down to your client and their acceptable level of risk.

The sad old brick veneer may sell at a bargain, so looks don’t necessarily always count – and any immediate upgrades can correspond with a rise in value and potential to maximise rental return. Alternatively, your client may be more comfortable in buying a neat-as-a-pin property, without any extra investment required to bring it up to scratch.

Get to know local property managers – they’ll be handling your client’s property and have the best understanding of rental returns, along with the key factors renters are seeking in a home, plus the good, the bad and the ugly of the local market.