It is crucial to market your property in the right price range. This price range is what a buyer would be prepared to pay for your property which is unfortunately not always the price you would like to sell your property for.
You may have come to your estimation of what your property is worth using a number of factors, some of which might be misleading. These factors could include the cost of buying, your renovations, your estimation of property value increases over the years and a comparison with other properties in your area. The price that you paid to build or buy this home is not a factor that is likely to influence the selling price, since potential buyers are not interested in this. Also remember that advertised prices for other properties are not necessarily the price at which the home will be sold, if at all, as some properties are only advertised to “test the market”.
At Faiza Arend Properties we use the Comparison Market Analysis (CMA) method to determine a value for your property. With CMA we have access to a database that lists comparative properties in the area that have been sold in the recent past. As no two properties are alike the CMA is used as one indicator.
We will explain how we arrived at the valued range to you in more detail when we present the valuation to you. The price range we present you with will be what we believe, based on our analysis, comparisons and experience, and are the most appropriate price range in which to market your property. (The valuation we provide you with will be within a range, example: “We recommend that you market your property between R 2 450 000 and R 2 595 000.”)
If you want your property to be marketed at a higher price than we recommend, we will also do so.