In response to the launch of a new property app which gives real-time national data to homebuyers and renters, the Real Estate Agents Association Australia (REBAA) says buyers shouldn’t rely solely on technology.
The REBAA believes while the free information and technology available are great to help buyers better understand the market in a snapshot, these valuation tools are highly flawed. The “one size fits all” nature of the technology makes it unreliable if buyers are looking to make what is probably going to be the biggest financial investment of their lives.
“While an app can punch out a price estimate in five seconds, it can take years of training and experience to understand property values accurately,” says Rich Harvey, president of the REBAA.
To avoid future regrets, Harvey recommends buyers make use of a range of tools and services – free and paid – too ensure they purchase a property suitable for them.