To determine the worth of your house, you have several choices.
(1) You can request for a free appraisal offered by most real estate agents.
(2) You can order a computer-generated property valuation on the internet (powered by an AVM) from a number of property websites either for free or for a small fee (sometimes as low as $19.95).
(3) You could get an independent valuation by a professional valuer that could set you back by $550 for a “normal” suburban dwelling to more than a thousand dollars for a mansion in Toorak.
The saying "you get what you pay for" is very true here. A free appraisal by a real estate agent is used primarily as a sales and marketing tactic to get the listing to sell your property. It is based on local market knowledge to determine how much your house is worth but does not have the same level of due diligence and analysis of the sales evidence carried out by an expert valuer.
A free online property valuation at best could give a range of the worth of your house, but at worst could disastrously place the worth of your house out of its actual market value. Before you jump on the net to get a free or cheap online valuation read this: Seven Reasons Why an AVM CANNOT Replace a Human Valuer?
When the Taxation Department, Family Court, Government, Banks or any other body dealing with money and assets require precise knowledge as to the value of real estate, they engage a professional valuer who prepares a valuation report that is a legal document.