Curious about our market evaluation process? We’d love to hear from you! We do a two step process.
We come by and view your home. You do not need to tidy or prepare for us. After we leave, we analyze the market and pull up comparable sold and listed properties to compare to your home.
Competition is an important consideration. Competition can help you sell your home or your home can help sell the competition!
More importantly, we look at the homes that have sold on the market to determine where your home fits into the market.
We delve into the recent market activity for your neighbourhood and the market overall to get a clear picture of what is going on.
Throughout each day, we are reading the latest news releases, real estate reports and economic reports so we have a strong understanding of where the market and the economy are now and are headed.
We have one other secret tool that we use to help determine market value and we would love to meet you in person to share that with you!
Your home is often your biggest investment! Knowing the value of your investment is important to maintain your investment and maximize the return on your home. We would love to share more info about this too!
Call us, for a complimentary comparable market analysis for your home. We are available and always happy to help!
To find out more about getting a fair price for your home click here to read our recent blog article on how-to maximize your sale price. We recently posted another blog about using pricing as a marketing strategy. If you want more info, get in touch. We love to chat real estate!
Read on to find out how the REBGV explains the pricing and assessment process. We do all this and more!
To attract buyers and ensure you receive a price that works best for you, your Realtor will help establish your home’s current market value. “Market value” (given sufficient market exposure) is what you could expect to pay for a property of that kind.
Realtors have access to information from various sources to help establish market value. When retained to advise on pricing questions, Realtors can:
- review the stated value on your current BC Assessment Property Notice
- review recent sales and current listings history for properties like yours
- do on-site inspections, examining the exterior and interior of your property in detail, noting new features that could affect the property’s value
- give you information about the current economy and how it may have affected the value of your property e.g. an improving economy may mean rising prices, while a declining economy may mean falling prices
Based on this information, your Realtor can provide an estimate of the value of your property and then, together, you can establish an appropriate asking price.
Most successful home sellers have something in common: they use a Realtor to help them through the complex process of selling their home.
What’s the difference between the assessed value and the value a Realtor places on your home?
The assessed value on a municipal property tax notice is determined by BC Assessment (BCA), the provincial government agency responsible for classifying and assessing BC real property. BCA has a database of close to 2 million properties.
BCA’s estimate of value is current to the previous July 1, which means values may lag by six months. To update values, BCA appraisers may not visit every property.
A Realtor determines the value of a property by scrutinizing the most recent comparable market data for homes sold in a neighbourhood using the MLS®. A Realtor also physically examines the exterior and the interior of a property, architectural styles, renovations, views, landscaping and neighbourhood zoning.
Where every lot and every home on a street is generally the same, both BCA’s estimate of value and a Realtor’s estimate of value will be similar. Differences occur depending on the time of year, whether the home is unique, and if there are features such as views.