Having your property appraised by a real estate agent: why and how does it work?

Whether buying or selling, having a property appraised is one of the most important steps in the process. For this, in order to avoid errors and obtain the most realistic estimate possible, it is recommended to call on a real estate agent. Our experts explain to you here the interest of such an approach, as well as the different phases of a successful estimate.

Why have your property appraised by a real estate agent?

Having your property appraised by a real estate agent or representative has several advantages:

To know the exact value of the property on the market

A real estate agent has the tools and knowledge needed to appraise real estate at its current value.

If it is your house or your apartment that you want to sell, then you can demand the right price for it. Similarly, if the operation is part of a simple assessment of your assets, you are sure to have exact figures.

For information, a real estate estimate is also required by the tax authorities for:

  • Calculation of real estate wealth tax (if the taxpayer is subject to it);
  • Tax control or expropriation procedures;
  • Cases of inheritance or donation for the calculation of inheritance tax to be paid to the State.

In either of these cases, using the services of a real estate agent is essential.

Benefit from the knowledge of the real estate agent on the evolution of the market

As a real estate professional, a real estate agent has a good knowledge of market fluctuations. The evolution of supply and demand, as well as the prices practiced, have, in principle, no secrets for him.

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By entrusting him with the valuation of your property, you therefore have the assurance of obtaining an evaluation that effectively takes into account market trends and reality.

In addition, you can benefit sound advice on the best time to sell in order to derive real added value.

Reliable and valid data

The estimate made by a real estate professional is admissible before a notary, a bank or a buyer. It can, for example, serve as a support for applying for a mortgage at the bank or for any other type of project.

An asset for a quick sale

Thanks to the Internet, buyers can more easily find out about real estate prices. If the price displayed in your ad is much higher than the market price, potential buyers may not be interested in it.

And if your listing remains on the market for several weeks or months, potential buyers may be suspicious and think that the property has a significant defect.

Likewise, if you show a lower price than the market, their doubts will be even greater.

Basically, you have every interest in have your property appraised by a professional in order to display the right price to find a buyer as quickly as possible.

Real Estate Estimate Illustration

How to have your property appraised by a real estate agent?

To estimate my property, a real estate agent mainly follows 4 steps:

Collection of technical data on the property

To estimate your property, the real estate agent needs the construction documents as :

  • Plans of the apartment or house;
  • The building permit;
  • Acts of servitude;
  • The results of the diagnoses already carried out;
  • The tax notices mentioning the charges, the property tax, and the housing tax.
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In addition, depending on the type of property concerned, it may also be useful to know the age of the boiler, the status of any renovation work or the insulation materials.

If it is a co-owned property, the minutes of the General Meetings of co-owners are also necessary.

Visiting the property

The visit to the property is the most important step in estimating a house or apartment. It is during this phase that the agent checks the strengths and weaknesses of the property. He examines the various installations to see if they comply with the standards in force and assesses the possibility of making extensions, as well as potential improvement works.

He finally proceeds to measure the surfaces and count the parts to ensure that everything complies with the documents provided in the previous step.

Prepare well before this visit is important. Attention ! It is not a question here of hiding the faults of the house or the apartment, but rather of tidying up the rooms to reveal their potential.

The application of discounts and premiums depending on the environment

At this stage, it is a question of applying the discounts according to the defects of the good and the premiums according to these assets.

For example, for a property located in the city center, in an attractive district with shops, schools and transport nearby, a 10% surcharge can be applied. Similarly, the price of a new property will be increased by 10% compared to its equivalent in terms of area in old real estate.

On the other hand, a studio located in a noisy environment, without balcony, without parking and with a facade to be renovated will suffer a discount.

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Determining the exact value of the property

From the various elements grouped together throughout the process, the real estate agent communicates to the owner the exact value of his property taking into account supply and demand at time T.

Finally, know that having your property appraised by a real estate agent is free. The latter cannot charge you fees until you have signed a sales mandate. This is one more reason not to hesitate to do so.

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