When my son was sick, last week, I took him to our preferred paediatrician whom my partner and I trust in his competence to diagnose and prescribe any necessary remedies based on his professional competence and his experience in the field of medicine. It is, however, not the first time, that my partner and I have decided not to take up the recommendations of a qualified practitioner.

I think that anybody may relate to this story in that we all have an inner gut feeling or an intuition that can sometimes irk us into making our own decisions that we feel are in the best interests of our family. This analogy can be transferred to several daily scenarios. However, this decision can be replicated when deciding to sell your property and pricing it on the local property market.

Estate agent and selling your home

Just like any professional, the role of an estate agent especially when selling your property, is to provide the seller with the necessary data, market knowledge and experience to make an informed decision. 

After all, it is the estate agent that views real estate in Malta or Gozo on a daily basis. It is the real estate agent that has historical data to forecast trends and it is the estate agent that has the live database of sold prices of properties in that particular area.

Estate agent and selling your home

Pricing your property for sale

Though probably the most qualified professionals to price a property for sale, a seller will ultimately always make the final decision based on a compromise between the advice given by their estate agent, their expectations, the commitments they might have and most importantly their own intuition. 

More often than not this leads them to try and sell their home at a higher price than that of the market value, which according to statistics from a credible source is on average between 15% and 20%. However, pricing your home more than the demand of the market, in an attempt to earn more, is one of the biggest mistakes a seller can make.

Marketing your home for sale

Marketing a home out of its market value is a common cause of properties remaining unsold for several months. It is proven that the more a property is overpriced the less potential buyers will even want to view a home like an apartment for sale, whereas the closer one gets to market value the greater amount of potential buyers will want to see a property, enhancing the chances to sell your property. If you see the buyer elimination triangle you will further understand this concept.

Should homeowners consider a professionally equipped real estate agent’s advice more seriously, they not only would sell their property faster but will also sell at a more reasonable price? This is because potential buyers who view homes for sale marketed on several real estate websites for a long time tend to discount the homes that have remained unsold and eventually homeowners may be subjected to reducing their property price beyond market value. If a homeowner markets their property closer to market value with some room for negotiation the usual occurrence is that the home will sell at the top of market value. Explore some tips on selling your home faster and at the best price.

Competitive market analysis

Competitive market analysis

A real estate agent should have the tools to sit down with a potential seller and provide what we call a Competitive Market Analysis (CMA). A CMA compares property listings that are similar to the home in question against sold properties of the same. By comparing historical data and present market information an estate agent should have the competence to narrow down an accurate valuation together with the homeowner.

Property presentation and enhancements 

Presentation is very important when selling your property. The price of a home for sale is one of the major factors that will define the length of time it will take to sell on the local market. There are other factors that will assist you in selling your property, including the presentation of your home and small enhancements that may also improve the value of a property. These tips are provided by your local estate agent. Read more about 5 repairs to tackle before listing your home on the market.

Selling your home using an estate agent

Selling your home using an estate agent

The real estate agent in today’s Malta property market has changed into a profession where real estate companies are investing thousands of euros in training their staff and associates so that they will be able to provide a superior service to their customers. 

A professionally equipped estate agent, like a Realestates Malta agent, will be able to provide the necessary exposure as well as competent seasoned professional agents to provide the qualified guidance required in order to secure a timely sale of a property. Learn all about the 4 benefits of choosing a real estate agent to sell your property.