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Frequently asked questions
We now have an FAQ list that we hope will help you answer some of the more common ones.
1. What is Core Logic?
Core Logic is Australia’s leading data provider for the real estate industry. They provide property information, analytics, and risk management services in Australia and New Zealand.
Core Logic’s data is used by the Big 4 Banks and even the Reserve Bank of Australia to make very influential decisions. It’s also accessible to smaller businesses and even individuals.
Their data is so trusted because not only do they have 4 billion data points, they are able to wrangle this data into valuable insight. These insights can then be used by all different kinds of businesses and individuals.
Core Logic is also trusted because they are completely independent from any bank, real estate company, or government.
The real estate report you are getting is powered by Core Logic.
2. What is an RP Data Property Profile Report?
RP Data Property Profile Reports are a trade secret for discovering more about any property.
These reports for properties are available online for a small fee, and give you all the important facts about a property, including a sale price estimation. They are especially useful when considering buying or selling.
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3. How accurate are your property details?
RP Data Property Profile Reports include the basic information about properties such as the size and number of bedrooms, bathrooms, and car spaces, as well as floor plans, images, and a map.
They also provide information of the properties sale history, rental history and even listing history (i.e. when the property was listed but not sold).
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4. Are estimated price ranges included on the report?
Using an algorithm, RP Data will estimate a potential sale price range of your property. This is calculated with the data that Core Logic has access to, and is usually given a confidence rating too, indicating how accurate they believe the estimation to be.
It’s important to note that an agent can also give you a good estimate as they have plenty of contextual knowledge of your market and the property.
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5. Does the report include comparable properties?
The RP Data Property Profile Report will also include comparable properties of three kinds.
Firstly, they will show properties that are currently listed on the market and are similar to yours. This will give you an idea and information of the competition out there.
The second set is recent comparable sales. This can give you an idea of how much properties like yours sell for and whether they are in high demand. This is great for personal assessment.
The final type of comparable will be current rental listings. This is great if you’re looking to purchase the property and rent it out, or if you already own the property and are considering your options. This can be an alternative to selling your home, opening up more possibilities.
This website also have a loans calculator to assist you on your financial decision.
6. Is your Suburb Performance & Profile Report accurate?
The report also provides overall data on the suburb the property is in. This includes the number of sales this year, the median house or unit value, median days on market, median vendor discount, median asking rent, and more.
The overview of these statistics over time allows you to see how they are trending, which could help you decide the best sales method to use when selling your home or even whether you should buy or sell at a particular point in time.
You can also see details about local schools to have a more informed decision about the home, or if you are the homeowner, you can use this as a selling point for buyers.