An Inside Look at How Real Estate Agents Do Property Valuation

There is no denying that every home owner selling their property will want nothing more but to get the best price for the property that they are selling. This fact has thus led a lot of home owners to choose a real estate agent based on their being able to offer them the biggest valuation initially for the house that they are selling. But then, this is one very expensive mistake that most home owners have experienced.

When it comes to selling your house, what it is valued at is crucial. When the estimated value that is given to it is wrong, you will end up selling your house for a lower price than the actual value of your property. On the other hand, overpriced houses for sale are not too popular among most potential home buyers. With such prices, you will most likely wait longer periods of time before you can get a good offer or none at all. These are just some of the reasons why the real estate agent that you choose must be on that can get property valuation right.

Below are some of the key factors that help real estate agents be able to do the right valuation of your property.

1. Local amenities: Upon property valuation by the real estate agent, the location of the house for sale is one of the key factors that determine its current selling price. The selling price is basically influenced by how close the house is to local amenities such as banks schools, restaurants, parks, and shopping malls. A real estate property that has good transport roads will be priced higher in comparison to that which is located in secluded areas.

2. Size: A real estate agent will also consider the size of the house that you are selling when they are having your real estate property valued. The number of bedrooms that a house has affects its selling potential and price. In addition, the size of each room also assists in determining the buyer demographics.

3. Aesthetics: Basically, for a better priced property, it must be clean, tidy, and well-maintained. In addition, you can raise your selling price higher if your property is near water bodies or offers a great view. In the same manner as hotel rooms with a great view cost more, so do real estate properties that do the same or are near the beach or the river.

4. Kerb appeal: Real estate agents believe that how your property looks on the outside is equally important as how it looks on the inside. While the real estate agent will be assessing your outside surroundings, they will determine whether your property is standout in your neighborhood and if our front garden looks well maintained and neat enough. A house that offers an appealing exterior will be priced higher no doubt compared to that which does not.

5. Potential: Aside from the size of the property that will have some huge influence on its selling price, the flexibility of the property also matters. Real estate agents even make sure to determine if the property can still be extended. A house that has more potential to be improved can increase its selling price. Properties that can be renovated and improved can shoot up their selling prices easily.

Author: Mario Black