How Much Is Your House Worth?
Don't Sell Your House Without Knowing Its True Market Value
One of the first crucial steps is determining the market value of your property. Unlike the municipal value, the market value represents what the market is willing to pay for your house. It is influenced by the supply and demand of houses for sale in your area, and this dynamic varies with the seasons and from year to year, much more frequently than the municipal value.
Why Consult a Real Estate Broker?
A real estate broker is ideally positioned to determine the market value of your property. Working daily with buyers and sellers, they can provide you with an accurate evaluation of your house based on the market. Moreover, your real estate broker has access to the actual selling prices of properties, as opposed to the listed prices. This distinction is crucial because it prevents you from being misled by relying solely on the listed prices. It's not uncommon for houses to be listed at price X but ultimately sold at price Y, after the inspection and negotiation process.
The Cost of an Evaluation
Getting a property evaluated typically costs between $400 and $600. However, most real estate brokers will not charge any fees to evaluate your house. For them, it's a way to invest in a short, medium, or long-term business relationship with you.
If you consult multiple brokers and the estimates vary, don't rely solely on the highest estimate. Your broker will present the comparables used to justify the market value of your property. Take the time to thoroughly analyze these comparables with your real estate broker to better understand this evaluation.
An Opportunity to Get Acquainted
Having your property evaluated by a broker is also an excellent opportunity to get to know this professional and determine if you feel confident before signing a brokerage contract. So, leave nothing to chance when you are considering selling your house. An evaluation by a real estate broker is the first step toward a successful transaction.
Contact me for all your real estate needs at (514) 574-3406, Jacques Ouanounou, Real estate broker, Montreal.
