The importance of an accurate valuation
It is often overlooked, but a valuation of your property is not only the first step in putting your property on the market – it is also perhaps the most important of all.
This is because the central issue in the sale of your property is price. Every home has a price at which it will attract buyers, and while this changes along with factors such as economic cycles that affect the property market, specific locations becoming more or less fashionable over time or the type and style of property being highly in demand or not, the right valuation is the starting point for those wishing to sell their property.
Getting it right
When people put their property on the market it is usually fair to assume that they want to sell it. Though many view this with varying degrees of urgency depending on their personal situation, there are vendors who list their property in a speculative manner in case someone actually pays them the price they are asking for. Such homeowners will typically want to list their property at a high price – above prevailing market value – and are not bothered if it really sells or not, or how long this could take.
Such a scenario tends to be the exception to the rule and is most successful as a strategy during a booming seller’s market. However, it is not recommended at a time when an appealing price is more important than ever in attracting buyers, so unless you find yourself in a boom market and are in no hurry to sell it is imperative that your property should be properly valued and offered on the market at the right price. We call this ‘getting it right’, all the more so since it is the axis around which all else moves.
A good price results in a sale
If a property is priced in line with market levels it will catch the eye of a large potential buying public and not be automatically discarded as over-priced. This is especially true in the current climate, and while markets such as Marbella are experiencing a strong upsurge in demand it is exactly the combination of fine properties, the wonderful lifestyle and attractive prices that is drawing buyers back. Today’s buyers are well-informed, having on average spent over a year surfing the net and gathering information about prices, areas and financing before committing themselves.
The latter move usually comes when they see that prices have reached their lowest point and will from now on be moving upwards again. In Marbella we have arrived at this stage now, which explains why so many knowledgeable homebuyers and investors have been swooping and getting great deals. “Marbella is definitely back on the way up,” says Tony Cassidy of Marbella Direct, “but don’t get me wrong, this is for the time being still essentially a buyer’s market, so it would be wrong for vendors to jump the gun and start putting their asking prices up prematurely. After all, it isn’t property agents, homeowners or even politicians who decide price levels, but the weight of the overall market, and at the moment it isn’t ready for increases yet.”
A professional valuation
Putting your property on the market at the right price means it can join the many luxury properties that are currently selling in Marbella within six to twelve months, as opposed to remaining unsold for years and losing perceived value as prospective buyers see there are no takers. A professional, honest and accurate valuation provides the basis for this, as it will establish the right asking price for the given property, location and market conditions.
With a team of core professionals who have represented and sold many of Marbella’s finest properties for over 30 years now, Marbella Direct can offer valuations that are underpinned by an intimate knowledge of the local market, its properties, areas and trends. To this we add an ongoing evolution that allows us to access local, national and international information and trends to factor into the equation.
In addition to being able to pinpoint the market value of your property, our valuers will be honest and open with you. Those vendors with unrealistic expectations are given the advice to wait until price levels have risen sufficiently to meet their bottom line, whilst in most cases we will discuss the process with the homeowner and set the asking price at the top end of its prevailing range. This gives room for negotiation without frightening off potential buyers.
In addition, we also share our experience of what buyers are looking for and can offer support in relation to the kind of preparation and home staging that not only supports our professional photography of your property, but also gives interested parties the best possible impression when viewing it. So de-clutter your house, give it a fresh coat of paint, remove unusual colours and features, and try to make your home look as sleek and modern as possible. With our help it will be cost-effective and easy!