Finding the perfect asking price is essential when it comes to selling your home. Go too high and you price yourself out of the demand. Go too low and you miss out on extra money that some people would have been willing to pay. So, how can you strike the perfect balance?
What is an AVM? AVM stands for Automated Value Model. This is when an advanced algorithm is used to determine a house value depending on a number of different real-time market trends, data, location, and details about the property.
Is an AVM Accurate? Unfortunately, AVMs are not known to be accurate with regards to determining the true value of a home, hence why they come with pretty wide margins of error. In Ibiza, property prices vary dramatically depending on a number of different things and an AVM can often miss the mark. Buying and selling is a very personal thing and a computer algorithm can’t always accurately mimic the real human value of a property. AVMs are calculated using other properties on the market as examples but may not reflect your particular property or the nuances of your specific market.
How Can I get the Most Accurate Estimate Possible? If you want to opt for a more accurate estimate, ensuring that you select the perfect selling price, get in touch with us today. We will prepare a Comparable Market Analysis that takes into account your specific property, market trends, recent similar sales and much more. This is known to be far more accurate than your standard AVM.
What is Comparative Market Analysis (CMA)? Comparable Market Analysis is when one of our expert agents determines an accurate property valuation based on specific aspects of your home that can impact value. This can be anything from condition to marketability, location and amenities. For a free Comparative Market Analysis, fill out the form below.