Real estate value

Many people fail to answer this question because they believe that the price can be lowered later...

If someone wants to buy a property, they will certainly compare different properties with each other. In addition to the location and condition of the property, the price plays a decisive role. After all, a buyer wants to get the best possible value for their money.

Of course, this does not mean that you as a seller should offer your property at too low a price, but it does show you that knowing the fair market price is a necessary prerequisite for selling your property.

You should know the market value of your property

It doesn't matter what the market situation is; every seller should obtain advice on the value of their property from reliable sources. You can, for example, commission a surveyor to do this. Or you can consult a professional real estate agent who monitors the current market very closely. Only with this information will you be in a position to set a purchase price that does not significantly exceed the maximum achievable price.

Knowing this price has another advantage for you: you will be able to assess the offers of the various interested parties much better.

You will also notice that with the right market price, you will significantly increase the quality of prospective buyers. This is because the expectations of prospective buyers are more in line with what your property has to offer. In the best case scenario, this can even lead to competition among prospective buyers, which is good for you!

What you should not do

Admittedly, it is not easy to set a realistic price. However, this does not mean that you can simply call up a price that you would like to have because you may need this sum for your follow-up financing. The market is not interested in how much money you will need in the future, even if many would like it to be.

Other sellers listen to their neighbors when setting the price because they may have heard from third parties what you can currently achieve on the market. All of this is highly speculative and if you proceed in this way, your sale will take on the character of a gamble. I don't think that's in your best interests.

Watch the market

Even if you have commissioned an appraisal, you should not base the purchase price on this alone. Instead, you should include comparable properties in your region in your calculation. When making this comparison, make sure that various factors match. These include Property type, living space, plot area, year of construction, condition, just to name a few.

This is of course time-consuming, but absolutely necessary. As professional real estate agents, we can help you with this work because we constantly monitor the entire real estate market in the region. We have an excellent overview and if you contact us, we can show you the price development of comparable properties in detail.

Plan your sale

When you prepare a comparative value analysis (or use ours), it is also best to pay attention to how long the properties have been on the market. Some properties sell within a few weeks, while others remain on the market for months. Depending on how quickly you want or need to sell your property, you will need to take this into account when setting the price.

Ask a real estate agent for advice

In any case, you should consult a real estate agent when setting the purchase price. You are, of course, completely free to set the price; nevertheless, it is advisable to set the purchase price at or at least close to the fair market price of the property.

As real estate agents, we have valuable experience that you can benefit from. Together with you, we will work out a purchase price that both you and potential buyers can identify with. We are at your side throughout the entire project to ensure that your sale is a complete success. It is best to call us directly so that no valuable time is lost.