EstiMate your property’s value
FREE VALUATION Coinciding with the launch of their website, South African property web portal www.privateproperty.co.za has launched a property valuation tool called EstiMate. It is a free electronic valuation service offered to any owners of residential property in SA who wish to obtain an estimate of the worth of their property. The service is provided in partnership with Lightstone, SA’s leader of automated valuation data and technology. “You don’t need to be a regular user of the site to obtain a report. You don’t need to be in the market to buy, sell or rent your property. If you own a property and you’re interested in knowing its approximate value then you can obtain an EstiMate report free of charge,” says CEO Justinus Adriaanse. “A new report is generated every three months, free of charge, should you wish to download an update for your records.”
Adriaanse says the reports take into account the area and current trends. In addition, each report has a confidence index that is affected by the amount of activity in the market in that particular area. If the confidence score is not high enough because there is insufficient information available on the area EstiMate won’t provide a property value. Property owners need to provide details proving they’re the owner as well as some basic information, and they can download an estimate.