The Most Common Mistakes in Property Valuation

Even experienced agents can produce weaker valuations when the process is rushed or inconsistent. Common mistakes include:

• relying only on average price per square metre;
• selecting properties that are nearby but not genuinely comparable;
• ignoring property condition;
• comparing different ownership types;
• using only the most expensive listings;
• ignoring listings that have remained unsold for a long period;
• treating an asking price as a completed sale price;
• presenting one exact value without explaining uncertainty;
• failing to update the valuation when the market changes.

A reliable valuation process should be repeatable. Another team member reviewing the same property should be able to understand how the recommendation was produced.