An appraisal estimates what a buyer is likely to pay; a registered valuation estimates what a bank should lend against. They answer different questions, they are produced by different people for different purposes, and it is entirely normal for them to arrive at different numbers on the same house.
The Market Appraisal
A free appraisal from a licensed real estate professional is an estimate of the likely selling range in today's market. It works from recent comparable sales in your suburb, current buyer demand, and the specific appeal of your property — including the emotional factors that genuinely move auction results, like a school zone, a north-facing section, or a layout that suits multi-generational living.
Its purpose is strategic: setting expectations and shaping a marketing plan. Its weakness is that it is an opinion, and opinions vary. Which is why the number matters less than the evidence behind it — an appraisal you cannot interrogate is not much use.
The Registered Valuation
A registered valuation is a formal, paid report from an independent certified valuer. It is deliberately conservative, weighted toward historical data and the measurable physical attributes of the building, and it generally does not attempt to capture the premium a competitive auction can produce.
You need one for lending decisions, and often for matrimonial or estate matters, trust transfers, or disputes — situations that call for a defensible independent figure rather than a market opinion.
Which You Need
- Thinking about selling? An appraisal. It tells you what the market is likely to do.
- Refinancing or borrowing? A registered valuation, usually one your lender accepts.
- Dividing assets or settling an estate? A registered valuation, for independence.
How to Judge an Appraisal
Ask which three comparable sales the number is built on and why those three. Ask what would have to be true for the top of the range to be achieved. An appraisal presented as a single confident figure with no workings is a sales pitch; one presented with its evidence is a tool you can actually use — including for deciding not to sell yet.
Team Eric Wu at Ray White Botany has completed 82 East Auckland transactions since January 2025 at a median of $1,301,000, so the comparable sales behind our appraisals are ones we ran ourselves. Request a free appraisal — with the workings shown, and no obligation to list.