We had new QV up here last year. QV's are computer generated valuations taken from Council records which are often out of date.And new Auckland CVs coming next month - which might sellers expectations drop a bit.
We had our house appraised by an agent last year and they came up with the QV as the market value.
I pointed out that their appraisal was faulty because even though they had visited, they still made their market comparisons with out of date records from Council and QV. The house is twice the size of the size on the file and many outside improvements. I asked QV to do an actual valuation and eventually they did, they sent a valuer out. New QV 25% more. This left the agent in a spot as I had a registered valuation against a market appraisal.
It also alters the value on the Homes website that gives desk top values for anyone to see.
I know people use them as a guild line but that is all they are.