QUOTE(ronaldoo @ Aug 17 2013, 03:05 PM)
for your info, iproperty is helping to speculate too. the best is to check with banker for valuation.
IMHO, iproperty ads, almost 70% of the ads were either speculation or mark down price without actual unit in hand to collect listing or only one unit in hand but to list down 10 units or whatsover.
For older tamans and houses, iproperty can be use as benchmark or supporting like the valuers doing, but for newly completed properties, the influence is lesser although they use it as part of the tool by calling the agents.
I would agree that the best is to check the banks / valuers for the proper valuation and the mixed it up with selling factor or buying decision whether to sell higher or slightly lower or buy it at higher price.
However,
some agents would deemed the banks valuation are very low and rubbish and determine themselves based on owners asking price and offer a market price to both buyer / seller.
some owners would increase the price much higher after know the banks / valuers valuation
some agents would ask the owners to sell at higher price after he able to get the 10 bankers to check the valuation and used the highest but not average
some developers are claim their products are the best and they are themselves to determine the selling price and market price, not banks or valuers
some buyers would claim the asking price is too high although he can obtained the bank valuation after check with 5 bankers / valuers and called it ridiculous after know the price is appreciated 70-100% after 2-3 years from first launch date.