One of the first questions a Miami realtor
will get asked by a homeowner would be “what is my property worth?” Of course, when a homeowner makes the decision to sell Miami home, they will want to get the most value as possible out of it. If you are planning to sell your own property, then you may have the question as well. Do you know how much your home is worth? Do you know what a realtor will need to do in order to provide you with an accurate value? Because this is such an important part of the home selling process, it is a question that you need to know an answer to.
What it Takes to Get a Value
When you first call or email the realtor, you must remember that they will not be able to provide you an immediate exact value. In fact, if a realtor gives an exact value without doing any legwork, then you should not trust that value. There is no way to get an exact number without doing a thorough research. However, the realtor should be able to give you a ballpark estimate. This estimate would be based on the values of similar homes sold in the area. This will not be an exact amount. There is a great deal of more work that will need to go into determining the value of a home. Here are a few things that the realtor will need to do.
In fact, Miami real estate market research
will be a must. The realtor may have a basic idea of the housing market in the area, but there will need to be research as well. This research will give the realtor a better idea of not just how much people are asking for their homes, but also how much those homes are actually selling for.
Determining affecting factors. There are a number of things that could affect a home value to make it different from the market average. Some of these factors could include grounds improvements like swimming pools or problems like a rundown home on an adjacent property.
Viewing the property. In addition to doing this type of research, the realtor needs to actually view the property. Through a discerning eye, the realtor will be able to get a more realistic selling value.
A Lower Evaluation than You Expect
Many homeowners are surprised when the value of their home comes in lower than they expected. Why would this happen? There are numerous things that can affect the value of a home, and when it comes to selling, the buyer is the biggest factor. In a buyer’s market, it is not about the seller. If there are a large number of homes available for sale in the market, this will lower a home value. If the market is slow in the area, this will also lower the value. Just because you think your home is worth more does not mean you will actually be able to get that much out of it. Instead, if you price your home too high, you may not be able to sell it for a long time.
What is the value of your home? This is an important thing to know, but you cannot just expect your realtor to be able to tell you over the phone. There is a great deal of research needed.
For a thorough research and evaluation of your Miami home, or Miami condo please contact Lana Bell, leader in sales of Miami real estate.