3 reasons why appraisers are key to setting your price
When selling a property, the standard approach to setting a fair and justifiable asking price begins with an analysis of comparables, that is, similar homes that have sold in the same area. This is followed by making sure that the price is competitive in the current market. This is the approach commonly used by chartered appraisers.
When a property is difficult to compare, for instance because it has distinctive features or because few properties have sold in the area, then the best solution remains to call on an expert. Here’s a list of the 3 main reasons that a chartered appraiser is the best professional to help you at this stage.
1. Appraisers establish the property’s market value
Once appraisers are done analysing the property’s characteristics, the market trends and the comparable properties that have sold in the area, they give the owners a detailed appraisal report. This document is an invaluable tool when selling a home because it sets a fair and market-appropriate price and provides proof to support it.
2. Appraisers are impartial
Chartered appraisers have no interest in the sale of the property. Their fees are the same regardless of whether the home is worth $250,000 or $1.5 million. Appraisers are there to give you the straight facts: the amount a buyer will be willing to pay for your property under the current market conditions.
3. Appraisers are qualified professionals
To practice, chartered appraisers must have a university degree and membership in the Ordre des évaluateurs agréés du Québec. The profession is also subject to stringent standards and an ethics code. Therefore, an opinion issued by one of these pros about a property’s value is trustworthy.
Knowing that a good price maximizes your chances of a successful sale, DuProprio offers various tools as well as advice from a team of appraisers to help you establish your property’s value. Plus, good preparation at this stage will help you not only attract the right buyers but also justify your asking price during the negotiations.