
Why professional real estate valuation? – An overview
Determining the value of a property is a complex task that goes far beyond simply comparing asking prices. An incorrect valuation can have serious consequences.
That's why you should only work with professionals
An experienced real estate agent knows the current market trends, supply and demand situation, and regional characteristics. While online valuation tools provide rough guidelines, they do not always take into account individual factors such as the building fabric, modernization, or the development potential of a location.
Why is a professional real estate appraisal so important when selling?
The right pricing strategy can make the difference between a quick, successful sale and months of waiting for interested buyers. A professional real estate appraisal is therefore essential for achieving a market-driven price.
Many sellers tend to set the asking price too high in the hope of making a higher profit. However, an excessive price deters potential buyers and can result in the property remaining on the market for a long time. The longer a property is online, the more skeptical potential buyers become—they wonder if there are hidden defects. A price that is too low can result in you giving away cash. Especially in dynamic real estate markets, the value of your property can fluctuate greatly.
A well-founded property valuation gives you an objective basis for price negotiations. Buyers often try to push down the price by pointing out alleged defects or market comparisons. A professional valuation provides you with strong arguments and a transparent basis for achieving a market-driven price.
How does a professional determine the value?
There are various methods for determining the value of a property. In the comparative value method, the property is compared with similar properties that have recently been sold. This method is particularly suitable for condominiums or single-family homes in high-demand regions. The income approach is mainly used for rented properties and commercial properties. It calculates the value based on the expected rental income and the remaining useful life of the property. The asset value method determines the value of a property based on the construction costs and the land value. This method is often used for single-family homes that cannot be marketed in a comparable manner.
Conclusion
A well-founded valuation is the key to a successful transaction. It protects against financial losses, creates transparency, and serves as a solid basis for negotiations. While online tools can provide initial guidance, you should always consult an experienced real estate professional for a precise valuation.
Would you like to know what your property is really worth? Contact us for a no-obligation consultation!
Notes:
For reasons of better readability, the generic masculine form is used in this text. Female and other gender identities are expressly included insofar as this is necessary for the statement.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.
Photo: © Wavebreakmedia/Despositphotos.com