How to value a property

Estimate the optimal price of your property!

If you are selling a property, one of the first steps to success is deciding on a strategic move commonly known as the asking price. Setting a favourable asking price requires organisational skills and knowledge of the rules of marketing and psychology. No, this is not a joke! If you want to influence potential buyers, you must anticipate their every next move!

Analyse the property market and think about the strategy you have chosen. Be alert!

Adjust the price to the client's real needs, and above all value your property properly. Be aware that the actual asking price is always slightly higher than the market price. Remember, if a buyer has a choice between two perfectly located plots with a house for sale in Katowice at the same price but of different standard, which do you think they will choose? Bear in mind that your advert will only be attractive in the first few weeks after it is posted; after that it will slowly begin to lose popularity.

READ ALSO – HOW TO IMPROVE THE VALUATION OF A HOUSE FOR SALE

Let's set some priorities!

Think about how much all the investments in the property actually cost you.

Analyse the pros and cons of the location.

Put yourself in the buyer's shoes and ask yourself: how much would I really be willing to pay for this house or flat?

Carry out an inspection and look for any physical imperfections in the property being sold. Ask friends and neighbours for help.

Draw up a list of rooms and think about how their number, or the lack of certain rooms, may affect how useful the property seems to a potential buyer.

Set a competitive price that will be attractive enough to "beat" the other listings in the immediate area.

What you need to know

• Put emotions aside; they are a bad adviser. Calculate!
• Assume that negotiations will be necessary to reach agreement with the buyer.
• Do not be guided by the valuations of other properties in the area.
• If you do not want to make a blunder, get help from a qualified estate agent. Then all the activities connected with a favourable valuation will be carried out efficiently and reliably.

Do you now know how to value a property optimally?