When we put our property up for sale, the first question we ask ourselves is: what is the value of my property? Many people don’t realize how important it is to answer that question correctly and set a correct price so as not to spoil the sale from the first moment. Today we will talk about the importance of carrying out professional real estate valuations so that you can sell quickly and at the lowest price.
How much is my apartment worth?
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Real Estate Valuations: Demand Deeds, Not Words
You should know that it is a big mistake to put your property up for sale without having correctly established its value: you will jeopardize the sale of your property. You must understand that the value of your property is not the price for which your neighbor claims to have sold theirs a few weeks ago. To get the most out of your sale, it’s not enough to go to Idealista and post an ad with the same price at which your neighbor sold.
If this is your first step towards selling your apartment in Islamabad, you are not taking seriously the opportunity to obtain a real economic benefit from your real estate investment: you will waste time and money. But what is the ‘right’ price? Or rather, what is the real value of a property? The real value of a property is set by the balance between supply and demand, so the market value must be estimated as the only real value in economic terms.
To make sure you understand me without having to beat around the bush: to know the value of your apartment in MillatEstate, you need to know how much money a large number of properties in your area have been sold for and with the same characteristics as yours. BE CAREFUL: not the marketing price of the apartment, but the price that has been signed before a notary.
Why shouldn’t you trust the price at which your neighbor’s property sold?
For the following reasons:
- You don’t know if he’s telling you the truth. We can assure you that many neighbors lie about the true sale price of their property. You can’t leave such an important decision in the hands of neighborhood rumors, trust only the closing data and those of the notary’s office.
- It is not enough to know the sale price of a single neighbor, it is necessary to have the data of many more properties. We are sure that this reasoning seems more than reasonable to you, the person who buys has a notion of the sale prices in your neighborhood.
- The characteristics of your neighbor’s property, even if it’s on the same block as you, don’t have to coincide with yours. Many variables must be considered, such as the state of the property, the renovations carried out, its inherent characteristics, its orientation, or the floor in which it is located, among others.
- Every 3 months the real value of a property changes on the market, so the value of your neighbor’s property would no longer be the same after a while.
We mean it, don’t take this issue lightly. Do things right from the start: carry out a correct real estate valuation and don’t miss opportunities. Act from the first moment as a true investor to get the highest possible return on your asset, and your investment, and thus be able to obtain the greatest economic benefit. Always keep in mind that many will propose real estate valuations based on the marketing price of the property, i.e. bad real estate valuations!
What are the advantages of doing a professional real estate valuation?
Much of our work aims to help investors understand the dynamics of the real estate sector. The aim is to provide them with the practical knowledge necessary so that they can make the best decision, that is, the one that gives them the greatest personal and economic satisfaction. For us, it is a priority to carry out a proper real estate valuation using the best resources currently available.
Advantages when you sell
- You’ll know your true trading margins and how long it will take to sell it. This means that you will have objective tools to defend the price of your property in a negotiation and you will be able to know when you will get the benefit you are entitled to. We will also provide you with information on the most sought-after types of properties in your area, as well as the demand/supply ratio of your property compared to other types of properties!
- A correct real estate valuation takes into account the market in a specific area and at a certain time, as well as the prices of the properties that have been sold with the same characteristics and in your area.
Advantages when you buy
- You will know if they are trying to sell you a property above the real value of the property and if you are investing in an asset that has good prospects of providing you with a certain return in the future. In other words, you will have a tool that will allow you to filter the best opportunities in the market.
In other words, current real estate valuations are backed by the science of Big Data so that you can know in which territory you are moving and make the right decision.
What kind of data does the property valuation report provide me?
- Not only will we tell you what the value of the square meter is in your area, but we will also tell you how much the square meter has been sold for in transactions with properties that have the same characteristics as yours and that have been sold in your area. As if that were not enough, we include the forecast of Artificial Intelligence, whose reliability and precision are very high due to the countless variables it takes into account; (this repeats) (You have to add the type of housing most in demand in an area and the supply and demand by type).
- You will have at your disposal a list of properties sold with the same characteristics in a certain radius so that you can check the comparisons that are being made.
- We will specify several financial data such as the average unit price of the properties sold in the last quarter, the gross profitability generated by the capital gains derived from the increase in the price of the property in 12 months, the estimated weeks for the sale of the property in a given quarter and the ratio between homes for sale and homes sold in a chosen period (absorption).
- You will be able to easily interpret infographics with data related to the area in which the property is located, such as the total number of homes, empty and paid for, the year of construction, the quality of services and transport, the income per household, the average age of the city, the level of education and commercial activity.
How are reliable real estate valuations carried out and why can you trust us?
To carry out trustworthy real estate valuations, it is necessary to have the best valuation and analysis tools of the real estate market. The technology available to companies that are experts in data collection and analysis today is simply incredible. Artificial Intelligence software, which makes use of huge databases (Big Data), provides us with accurate information and highly accurate forecasts.
We invest a large part of our capital in this type of knowledge and technology, to interpret market variables in a micro-segmented and micro-localized way. In other words, we are not satisfied with having general data on prices at a national level, but “we hire companies capable of collecting, structuring and processing specific data in real-time on each block of Islamabad and for each category of property”.
This is a very powerful resource to know the real value of a property at a given time. The data we use is collected from public and private sources, cross-referenced with artificial intelligence mathematical tools, and finally represented in clear reports. In this way, our clients have documents that we use to explain the return that their investments would generate if they opted for one property or another.
Experts must use the best tools
In short, fortunately, today we have advanced tools that will help you get the most out of your investments. At MillatEstate, we consider that making use of them is an obligation on our part, so we do not hesitate for a moment to assume the necessary costs that they entail.
We know that this is a decision that our clients appreciate, as we guide them to make the most appropriate decisions for their needs and budgets. Our satisfaction becomes a reality when it coincides with that of the people who come to us to obtain the maximum benefit, thus having the best option to make economic decisions, quickly and documented and answering questions such as what type of home rents the most and in which part of Islamabad?
Remember that it is a mistake to consider that the best opportunities are generalizable to all investors, without having previously carried out an individualized market valuation and analysis. We don’t all have the same budget and we don’t all have the same needs
