Do not mistake a bank valuation or a real estate appraisal of the value of your property as the ‘market value’.
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.
This price cannot be influenced by a valuer, the lender or your real estate agent.
The true value of a property depends on so many things and 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 would achieve if you are a seller and you will never did them all to agree to the same price.
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.
If you’re lucky enough to find someone who has totally fallen in love with your property and must have evidently price then it’s likely dull pay you a premium.
The premium is what every seller dreams of achieving 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 and you should do it from more than one agent.
I suggest you get at least 3 agents in and make sure they know your area.
But it’s also important that you have an understanding of what your property is realistically work.
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.
Don’t mistake the listed prices you see in an agents 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 market value of your property.
This video originally appeared on Real Estate Talk. Why not subscribe and receive our weekly podcast (or the transcripts) where I interview Australia’s leading property experts.
SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
PREFER TO SUBSCRIBE VIA EMAIL?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.