Valuation, appraisal, estimate: which do you actually need?
Three words used interchangeably, three very different products. Matching the tool to the job saves either money or a mistake.
Registered valuation — the defendable one
Prepared by a registered valuer after inspection; costs roughly $800–$1,200; carries professional liability. Banks require them for some lending, and they're the standard for matrimonial splits, estates and disputes. Overkill for 'should we list this spring?' — that's paying for defensibility you don't need yet.
Agent appraisal — free, informed, conflicted
A local agent's market appraisal draws on genuine sales knowledge and is free — because it's a pitch for your listing. Some are excellent; some are strategically optimistic to win the business, with the price 'conditioned' down later. Take two or three, ask each for the actual comparable sales behind the number, and watch which explains rather than flatters.
Online estimate — instant, blind
AVMs are instant and free but can't see condition, renovations, title quirks or views. Use them as a sanity band, never as the answer for a specific decision on a specific house.
The practical middle
Most decisions — list or hold, refinance timing, what to offer — need something between blind and $1,200: an evidence-based range from sold comparables, adjusted for your property's specifics, with stated confidence. NZ Property Evaluator is built for exactly that gap, and your first appraisal is free.
Want a real range for your place?
Live sold comparables, explicit adjustments for your renovations and title, a graded confidence level and a rent range — in about a minute. First appraisal free.
Get my free appraisal →FAQ
Will a bank accept an agent appraisal?
For lending decisions banks rely on their own AVMs or a registered valuation — agent appraisals inform your decisions, not theirs.
How current does a valuation stay?
In a moving market, months not years. Most lenders treat registered valuations as stale after about three months.
What's the fastest way to a usable range today?
Run your address, condition and any renovations through NZ Property Evaluator — live comparables, explicit adjustments, graded confidence. First one free.
General information, not legal advice for your specific situation.
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