How to determine the selling price of a property?

Existing offer

Most sellers take into account only one of the 3 factors that determine the selling price of a property. Sellers look at the offer, compare it to their property and post a price based on it, but often the prices posted in the ads are just wishes, not real prices for which someone would be willing to buy the particular property.

Activity in ads

In order to better understand what would be the most appropriate price for your property, it is very important to consider the demand as well. It is possible to determine the demand by activity in advertisements. For example, if you find a property similar to yours, but the views of the ad are close to zero over a long period of time, it is clear that the price is too high and no one even wants to open the ad to view the offer. The aim is to find an equivalent property with high view activity, this will indicate the price match for the property.

Real deals

Perhaps the main price indicator is the already existing transactions registered in the Land Registry. These are no longer wishes or approximate indicators, but real transactions that have taken place. The price range is also possible in them, but in that case you have to evaluate how long you have to sell the property. If you have the opportunity to wait, you can certainly try to sell for the highest possible price, watch and evaluate the activity in the ad and then think accordingly – to reduce the price or not. If there is not much time, then it is better to look at the average sales figures and not to put the highest possible price, because then the sale of this property can take a long time. These are the main factors by which to best price a property, it is good to consider all three. Good luck with the sale!