How to determine the selling price of a property?
How was the sale price of the apartment formed? What are the right steps to determine the optimal sale price of an apartment and achieve the maximum result? What should be taken into account and what aspects should be used to determine the selling price?
Offer.
- Familiarize yourself with the property, understand its technical condition, pros and cons, reconstruction, location, building series. Explore details of the property that you can’t see in pictures or ads. (location of the property, location of the property in the building, layout, etc.)
- Evaluate similar properties, evaluate competition in the market. You can use ss.com, city24, etc
Strategy
- It is important to know the period of realization, which significantly affects the selling price. By evaluating the sales deadlines, it is possible to find the right strategy. A short lead time requires an optimal price, which will create a high demand.
- For a long period of realization, another sales strategy should be applied, where it is possible to vary the sales price, sell the property through other offers, instead of keeping the offer ad on portals, without activity and return.
Request
- Market activity in competing properties. What is the activity, bids and interest in competing properties. This information will help you understand what to expect from the offer, what price adjustments or changes need to be made in order to enter the market with a competitive offer.
- Price offers – It is important to understand what price offers are made for similar objects, and to evaluate the optimal price for your property, taking into account the sales deadlines.
Transactions
- At what prices have similar objects been sold. This information can be found at cenubanka.lv. Here it is possible to select transactions that are exactly similar to your property according to the criteria, which will give you an insight and understanding of the prices at which properties are sold. It is important for cenubanka.lv to select the apartments sold according to the maximum prices. If it can be seen that the transaction amounts are similar to your set price, then it is worth entering the market with such a price.
Nuances
- It is important to understand that each property has many nuances that can drastically affect the sale price. Or, the apartment is on the side of the elevator or not, how does the apartment differ in such situations. How can a building series affect a property’s price? Such nuances are distinguished and evaluated professionally by real estate agents. The agent will provide you with accurate information about the specifics of your property and will offer the most appropriate implementation options.
