When valuing their property, sellers often compare listings on real estate portals. However, many online ads express only the seller's wishful thinking, not the actual market value of the property. The asking price can differ by tens of percent from the actual market price. This is why some properties are offered for many months, sometimes even years.
This is a reason to use the professional services of our real estate agency, which will provide you with a qualified property valuation. We monitor listings on real estate portals long-term, and therefore we can determine the price based on a comparison of offers. In addition, we have other methods for property valuation at our disposal. We work with, for example, price maps that express the average price in a given location, and also with data from the land registry where we find actual sale prices achieved. However, the final price of your property reflects a whole range of other factors that price maps do not account for, such as location, apartment size, type of ownership, technical condition, property location, layout and orientation, encumbrances, and easements, etc. We can account for all these apparent details when determining the price of your specific property. In addition, we also have our own database of completed transactions for comparison.
Incorrect valuation and its consequences: Many brokers will provide you with a market valuation free of charge. If an experienced broker who works with properties long-term and knows how supply and demand develop tells you their opinion, that is fine. Unfortunately, many brokers will promise you an unrealistically high price just to get your listing. Conversely, some brokers will tell you a lower price to have the assurance that they will actually sell your property. However, people deciding to buy a property usually have a very good idea of property prices. They continuously and long-term monitor listings because for them this transaction is a step they make only once or twice in a lifetime. If your property starts selling at too high a price, which is subsequently reduced after a few months, it becomes a so-called "stale listing". The buyer has the impression that nobody wants your property and expects the price to be reduced even further. The sales period extends significantly, and any negotiation becomes much more difficult. The market price is the price at which the buyer is willing to buy your property and you are willing to sell. The usual market price is the price at which similar properties are sold at a given time.
How to increase the selling price? One factor influencing your property's price is entirely in your hands. That is presentation. With correct, professional presentation, you can increase your apartment's selling price by up to 10%, i.e., by hundreds of thousands. If potential buyers form a connection to your property even before they come for an in-person viewing, e.g., thanks to quality photographs, video tour, virtual tour, etc., it is almost won. In our real estate agency SAXAREAL, we offer our clients a professional property valuation free of charge.
If you are interested in a property valuation or need other advice regarding the sale of your property, contact us.