How a Real Estate Agent Values Your Home During a Property Valuation

Are you considering selling your home? Although you can obtain a rough estimate of your home’s value online, the most accurate way to determine its worth is by consulting a local real estate agent.

Here’s a breakdown of how a property’s value is calculated:

Determining the Price of a Property

How a real estate agent values your home during a property valuation, Malta, location, size, local prices and other factors

The most obvious and significant factors include:

  • Location
  • Size
  • Local prices

In addition, there are factors unique to your home and situation that are more complex and difficult to consider without viewing the property. These aspects include:

  • The house’s current condition
  • Extensions or modifications made to the property, and the quality of the work
  • Internal elements, such as flooring, double-glazing, insulation, and finishing

A home valuation specialist explains that many other aspects can also influence a property’s value. For example, understanding the potential for improvement, assessing the quality of updates, and examining the finish can all impact the property’s worth and the level of interest it garners.

Ultimately, the asking price will be determined by a combination of all these factors, along with an understanding of the local market’s current behavior.

Key aspects to consider include the current demand for a particular type of property, recent sale prices, and the average time it takes to find a buyer. Knowing the answers to these questions is essential for pricing a property accurately.

While an online valuation can provide a reasonable assessment of the property’s worth based on available data, it is important to remember that each home is unique. As a result, certain variables may not be captured by even the most comprehensive online valuation.

The Key Questions Asked During a Property Valuation

Key questions asked during a house valuation, Malta

During an in-person valuation, the real estate agent can assess the property’s condition and get a sense of the space and size of the rooms. This allows the agent to develop an accurate understanding of the surrounding area, which can be used to create a compelling property listing and enhance viewings.

You should also expect to be asked about what attracted you to the property and why you enjoy living there. While these points may be overlooked by some, they are significant because they highlight your property’s selling points and could influence the asking price.

There are other important components that help set the price, which extend beyond the physical property itself. For instance, the agent may ask whether you are looking for a quick sale or hoping to secure the highest possible price for your home. A seller who needs a rapid sale will require a different strategy than one who is willing to wait several months.

An experienced real estate agent with strong knowledge of the local market can also advise you on potential improvements to increase your home’s value. Depending on the property, adding an extension, a conservatory, or an extra bathroom may be worthwhile investments.

In conclusion, while both online and in-person valuations have their place, if you are serious about selling your property soon or require an accurate price estimate, it is recommended to consult with a local real estate agent for an expert valuation.

If you want to know your house’s worth and would like to connect with recommended agents in your area, we can help you find a local expert to schedule a property valuation.