A property valuation aims to correctly attribute a price to a property, according to the market. You know that, we know that. And finding the ideal price of a property, for sale or rent, through a market analysis has many advantages to your business and your client. Let’s see some of those:
- It helps your client, usually driven by an emotional connection to the property, to understand its real worth. More often than not, the client doesn’t have a full view of the market, which means they probably wouldn’t get the best profit they could from the deal.
- Adopting the proper selling price also attracts more potential buyers or tenants. When the pricing is too high, people won’t even book visits because they feel intimidated and tend to think they won’t be able to reach an agreement in this transaction.
- Consequently, a well-priced property sells faster, since it agrees with the reality of the real estate market and the expectations of buyers and tenants. Trying to sell or rent a property for the wrong price can keep it on the market for months or even years!
Seems good, right? But, to reach these results, the valuation of a property must be carefully done and follow a method, not something that’s based on feeling or intuition. The answer is obvious: your market analysis should be data-driven.
Here comes CASAFARI.
The advantages of CASAFARI’s Comparative Market Analysis
1. Our Market Analysis is based on comparables
The whole market is certainly too broad to be taken into account when it comes to valuating a property, right? A big apartment in the middle of the city and close to many businesses probably won’t be worth the same as a smaller property, further away from the city centre and located in an “unknown” village.
That’s why CASAFARI shows you an ideal selling price according to comparable properties, with similar characteristics and in the same area.
2. It’s done in seconds
With CASAFARI, the real estate agent can literally create a Comparative Market Analysis report in less than a minute.
This can be quite useful during a meeting with the client and to give a fast response to leads, keeping them engaged with you and motivated to seal the deal. This also helps reduce the expectations of a client who’s very optimistic about selling their home for a high price, showing them what the average market value is.
Want to see the whole process of creating a Comparative Market Analysis on CASAFARI?
3. Our Market Analysis provides greater data accuracy
CASAFARI pulls data from 1000x more sources than the nearest competitor. This means that, when our tool produces a Comparative Market Analysis, it doesn’t stay restricted to comparable properties available on a marketplace: CASAFARI has a complete and transparent view of the whole real estate market.
Why is this important? Because it ensures that your Market Analysis report is truest to the market stock that you can get. There’s no better way to price your property than that.
4. Plenty of comparables to work with
No other real estate software gives real estate agents the power to create Market Analyses reports with as many comparables as CASAFARI.
Provided that there are enough properties with similar characteristics in the area, our report starts with 30 comparables and you get to add others by yourself. The result is a carefully curation of correct comparables, something absolutely valuable when it comes to property valuation.
5. It gives you power to negotiate with the client
With a curated Market Analysis report on your hands, you have the opportunity to show your client which are the competitor properties, how are they priced, how is the market behaving for properties with similar characteristics and other useful information.
You will gain confidence with this accurate data to show your client when an increase on the selling price of the property is possible or a decrease is necessary.
Complement your Market Analysis: CASAFARI Market Analytics and Property Page
The Comparative Market Analysis tool is not the only one that empowers you to persuade a client about the proper selling price of a property. CASAFARI has additional ways to provide to your client plenty of information related to the market and to understand all about the real estate for sale or rent. Check it out!
CASAFARI Market Analytics: understand the property market trends
CASAFARI Market Analytics complements our Comparative Market Analysis because it shows how the real estate market is behaving in a specific area. You will understand information such as if there is an increase or decrease of demand for a certain type of property, with how many properties you will compete for buyers or tenants, and if the prices in this area have been on a downward or upward movement.
Also, you can check the average prices practiced in a given area in details like square meter or amount of rooms, as well as how many properties are entering or being removed from the market.
With this knowledge at your hands, CASAFARI Market Analytics allows you to understand the selling price suggested on your Comparative Market Analysis and better explain the scenario to your client, empowered by transparent data.
Property page: know all historical data about a property
Another useful tool to have in your back pocket as a real estate agent is CASAFARI’s Property Sourcing. Other than allowing you to find properties tailored to your clients’ needs, among all the available market stock, our Property Sourcing also allows you to take a deep dive into the real estate’s historical data.
On the property pages, you will find the characteristics of the real estate, which agencies are currently selling or renting them and for how much. You can also check the historical data, like which businesses have dealt with this property before, when, for how long it was on the market and for how much.
There’s nothing better to show confidence to your clients than showing up to a meeting, or picking up a call, with all the information about their real estate in your head.Now that you know all your possibilities, let’s cut to the chase and start boosting your business!