13 Mar How to accurately estimate the true market value of a property
Do not mistake a bank valuation or a real estate appraisal of the value of your property as true ‘market value’. Watch this video from Kevin Turner as he share his insights on how to accurately estimate the true market value of a property.
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The true value of your property is what a willing and able buyer is prepared to pay and what a serious seller is willing to accept. The price cannot be influenced by a valuer, the lender or even your real estate agent. The true value of a property depends on so many things and it changes from week to week. Here is something I can guarantee you about price.
If you were to invite three or four agents to your property and ask them to give you what they believe to be a realistic price that your property could probably achieve if you decided to sell it (always reckon that you do that anyway) I can tell you not one of those price would be the same. In fact you could do the same exercise with our highly trained and skilled valuer. And these are people who have studied for years about how to accurately value of property. You’ll get the same result and that is different estimates.
You see the true value of a property is, as I said earlier, what someone is prepared to pay you. If you’re lucky enough to find someone who has look at your property they totally fallen in love with it they must have it no matter what the price then it’s likely they will pay you premium. The premium price is what every seller dreams of ofcourse and it certainly is the result any agent would want to achieve for you. It’s always wise to seek advice about the likely selling price before you list your property and you should do it from more than one agent as I’ve already indicated. I suggest you get at least 3 agents in and make sure that they know your area.
But it’s also important that you have an understanding of what your property is realistically worth before they even arrive. Ask several agents about what is listed for sale because that is your likely competition if and when you list. Also ask what has recently sold and how much the sellers received. Do not mistake the listed prices you see in an agent’s window as market value – get the facts. If you don’t want to ask agents for the information, you will find everything you need on the internet. Put the time in and do the research – that way you will get an up-to-date and factually accurate estimate of the true market value of your property.