Price is the most decisive decision in a sale. The right price sells the property in reasonable time; the wrong one either ages the listing or leaves money on the table.
How comparables are chosen
Comparables are properties in the same area, of similar size, age and quality, sold recently. The comparison should rest on sales actually achieved, not on asking prices.
Even in the same building two flats are worth different amounts: the floor, the aspect, the view, the interior condition and the deed type all change the price. When choosing comparables it is the building and the flat that matter, not the street.
An appraisal and the market price are not the same thing
The appraisal report of the bank shows the value it can lend against, and it usually comes in below the market price. It is not a ceiling but a limit drawn for the risk of the bank.
When setting your sale price you need to read the appraisal report and the sales achieved in the area together. As Konutkent Gayrimenkul we combine these two sources and give you a single view on price.
The hidden cost of pricing too high
A listing that starts above the market misses the interest of the first weeks. The older a listing gets, the more buyers assume there is room to bargain.
A property that goes unsold for a long time usually ends up selling below what it would have closed at had it started at the right price. Time is a cost too: property tax, the service charge and DASK keep running.
Room for negotiation
Leaving a reasonable margin for negotiation in the asking price is common; but that margin should not be an amount added on top of the market price.
When an offer arrives, the measure is comparables, not feelings. Comparing the offer against them makes the decision easier.
Related sections of this guide
- I want to sell my home: the process from start to finish
- Mortgage eligibility: why does a buyer get turned down for a loan?
- Preparing for sale: how should the property be shown?
Terms from the glossary
We are beside you on this
As Konutkent Gayrimenkul we run the sale of your property with you from start to finish: valuation, deed checks, listing, buyer meetings and the title transfer. You can ask your questions by telephone or fill in the application form.
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