It is a dilemma most property sellers face when it’s time to sell.
Your well meaning family and friends have absolutely no effect on how the market values your property. What your property is worth in any given market is determined primarily by the law of supply and demand.
Unfortunately there is no exact scientific formula that covers all properties in all market conditions, which you can use to calculate your property’s worth.
There are however a number of factors that come into the equation in determining the value of a property – such things as the size location and orientation of your land, the size and style of the house, the age condition and presentation of the property, the quality of your fixtures and fittings, how unique and desirable the property might be to the current buyers in the market, the economic climate and more.
Ultimately it is the potential buyer’s assessment of these factors that determine what a property is worth – but because every buyer wants to buy for less, the only other dynamic that can have an impact on what price you get is your agent’s ability to get the highest price from the buyer. Selecting a skilled agent can help you maximise your property’s perceived value through their skillful negotiation.
In order for you to calculate the likely selling price of your home you need to have access to data from recent sales in your area. Armed with this information you can draw comparisons between your home and other similar properties that have recently sold in the area.
Up to date information on sales data in your area are readily available on the internet. Real Estate agents subscribe to various property data service providers and have access to much of the available data.
For an agent to provide you with an accurate estimate of the likely selling price of your property, they should base their estimate on the latest sales information.