A life change is on the horizon and you want to sell your family home or apartment? Congratulations, but the hardest part is certainly still to come: that is, to sell this property at the right price.
A life change is on the horizon and you want to sell your family home or apartment? Congratulations, but the hardest part is certainly still to come: that is, to sell this property at the right price. To part with your home is a great personal and financial adventure that forms a landmark in your life. That’s why it is important to be supported throughout these stages, because managing such a matter with only the help of an unqualified expert – or by yourself – can be tricky.
Selling at the right price
Is the family growing and you need more space? Or on the contrary, the children have grown up and left the nest? Did you recently inherit the family home? There are many reasons to sell your property, but in all cases the goal is simple: to sell at the best price and to do so quickly.
From experience, we know that the key to a successful sale is based on a fundamental principle: a sale at the right price, that is to say one that is perfectly adjusted to the reality of the market (neither too high nor too low). To achieve this, several approaches can be considered and some solutions are particularly important.
Property valuation: a complex science
The right price for your property is crucial in a real estate transaction. If the selling price displayed is excessive, buyers will be dissuaded from making an offer. All owners who have had to part with their property one day know it well: selling a house or apartment that is filled with so many memories is a very emotional time. In other words, a homeowner is never objective in fixing the price of their property, but will tend to overestimate the value.
This means that to get the best estimate for the property you want to sell, you should not do it yourself. You won’t be neutral and your desires will influence your assessment. Property valuation is a task for experts. Our real estate brokers are here to provide you with an objective estimate of your property.
They bring you their expertise and in-depth knowledge of the local market, and its current trends. In addition, an increasing number of banks require a property valuation by a professional before granting a mortgage loan. This step is therefore essential before any real estate transaction can take place.
It is nevertheless important to emphasize that the estimation of a property is not made in relation to the future life project that it will allow you to pursue, but evidently in relation to its real value on the market.
Methods for determining a selling price
Property valuation is a profession that requires firstly training and secondly experience. Understanding the property market is a complex science that requires a high-level network and experience, something that we can offer you through our expert brokers and local presence. Settling on a selling price is therefore a specialist affair, key to achieving a profitable transaction.
For their estimates, banks today employ the “hedonic” method. This is based on the identification of criteria relating to the construction (living space, layout of rooms, area of the plot, etc.) and geographical factors subject to a statistical treatment (location, setting).
The hedonic method is not based on the prices offered in advertisements, but on market prices, by comparing your property to others that have been sold recently. This comparison makes it possible to define a price, but the method depends on many factors to ensure the price matches the real market value. It thus has its limitations and disadvantages: the need for a vast database that is not always available in certain places, market stability, shift compared to the market or lack of anticipation, and more.
The real value of a property
The concept of the “real value” of a property is based on the value of the land and the current value of the building, derived from the construction standards minus the depreciation due to age. When it comes to our real estate experts, they will take an interest in every last detail of your property.
They will scrutinize it very closely, together with the potential for refurbishment that it offers. They also take into account the geographical situation, as well as technical and legal aspects. This in-depth work will make it possible to objectively determine the real value of a property in line with the current market.
Who to trust with your property valuation?
Many homeowners entrust the valuation of their property to free online appraisers. These propose a price according to a few criteria you provide. This is a mistake you should not make.
At Cardis Sotheby’s International Realty, property valuation is a job for professionals. Our ambition is to serve you, whatever your budget. Our experts are there to support you and make you aware of all the specific aspects that influence the value of your property. Our support will enable you to understand all the risks and to highlight the qualities and benefits of your property.
Our sole business is real estate brokerage. Our know-how has enabled us to become the leader in the sector in French-speaking Switzerland with more than 500 sales each year. In our seven branches across French-speaking Switzerland, our 30 brokers are there to support you in your project and to achieve all your real estate objectives in the best way possible.