Evaluation

Evaluation:

The Right Valuation Strategy will ensure that the Property is Sold and Rented as soon as possible..!!!


How should the evaluation form be?

• Write information about the appraiser company and person
• Write general information about the property (according to the document).
• Marking the advantages and disadvantages of the property - SWOT
• Conduct competitive market research, comprehensively and in detail
• Listing 3-5 similar properties sold and for sale
• Determine the high, average and realistic selling price
• Write a justification for the price range according to the chart
• Record the marketing plan


When valuing property according to international standards, 4 accepted approaches are used.

• Cost Approach – Means that a buyer will not pay for the cost of the property.
• Comparative Approach – Comparing a property with other similar properties sold and for sale.
• Development property – Means the value it would gain if used for a different purpose
• Income Approach – Pricing is determined based on the property's location and monthly rental income.

Factors that determine the value of the property:

• Condition and location of the property
• Similar properties on the market (sold) and for rent
• Economic fluctuations, the general state of the property market


Factors that do not determine the value of the property:

• The amount you paid when you bought the property
• The amount you spent more than necessary during the repair of the property (furniture).
• Amount of profit (revenue) you want to get when you want to sell


Selling the property at a high price:

• It means both real and serious buyers and wasting time.
• If the property does not sell, lowering the price creates the idea of ​​continuously lowering the price in buyers.


What are the negative aspects of incorrect assessment?

• Improper pricing attracts non-serious buyers and tenants
• Customers with high expectations are disappointed when expectations are not met
• Frustrated buyers and tenants leave and buy and rent another property
• Advertising with a high price leads to wasting the most important first 1 month for sales and rentals
• Over time, if not sold, the risk of the property being sold below its value increases
• Serious buyers never want to buy a property that is overpriced. There is always an alternative


With the right pricing strategy:

• The property attracts more buyers and tenants
• For sale and rent at the highest market price
• Sold and rented in less time

How do we make the correct assessment?

• We use our 8-year experience in the real estate market
• We cooperate with professional evaluation companies
• We research extensively on active property sites
• We cooperate with other experienced realtors in the area

1. We conduct an on-site inspection of the property
2.    We check the property documents
3.    We do extensive market research
4.    We determine the realistic price range
5.    We prepare a reasonable evaluation opinion


Pricing Pyramid:

Long term sale – High price
• None of the real buyers will be interested in your property, they won't want to look at it

Medium term sale – Average price
• Half of the real buyers will be interested in your property and want to view it

Short sale - Real price.
• Real buyers will be interested in your property, view it and make a serious offer