When John Taylor first got in touch with CASAFARI, one thing caught their attention more than anything else: our Comparative Market Analysis, a tool to make property valuations comparing properties to their competitors on the market.
The Comparative Market Analysis allowed John Taylor to refine their property valuation reports and define accurate asking prices for their clients. Let’s see why this tool and the information it provides can enhance the image of the agency and the service provided to their clients.
A property valuation in line with the market
There are two characteristics of CASAFARI’s Comparative Market Analysis that made it such a relevant product for John Taylor.
The list of comparable properties
Inside our platform, John Taylor’s estate agents are able to run property valuations that will tell them the fair asking price for a property based on similar real estate in the same location and with similar characteristics.
This makes the valuation extremely appropriate for your market, since different areas of a city can also present different values for similar properties due to a better location or higher demand, for example.
In order to create your property valuation report, our Comparative Market Analysis will provide a list of closest comparables to a property, but the estate agent can also add or remove properties if they want to. In this list, you can find properties that are either active on the market or that were sold recently.
The report will provide John Taylor’s agents:
- A full understanding of the competition in the surrounding areas, so they can prepare a strategy to face it;
- The appropriate asking price for a property, according to the market it belongs to, in order to sell it on the expected time range;
Therefore, the property valuation report is the perfect document to present to clients and explain to them both the scenario in the area of the property and the proposed asking price, based on market data.
The average time on the market
The average time on the market shows how much time a property such as your client’s spends available being bought or rented. Once again, our tool uses comparisons with properties in the same location and with similar characteristics to establish a number, making it very market-specific and more accurate than a generic average of the whole city or area.
This statistic is useful to settle expectations: once informed about it, the client knows how long they can expect to wait before a deal is sealed.
As for the estate agent, they know when to enhance the communication about a property, give it some special attention or change the promotion strategy to make sure it doesn’t stay longer in the market than it should.
Nothing like market data to guide our work for better efficiency, right?
John Taylor has been using our Comparative Market Analysis for almost a year now and, as a result, Anne-Marie Descamps, Commercial Assistant, tells us that clients even came to them asking for a property valuation. “A prospect asked us for a property valuation with its supporting arguments for a property of €2,690,000”, said Descamps.
This is what happens when a company offers a quality service, backed up by transparent, organised and updated market data: the clients can see the added value! CASAFARI is here to make sure this situation happens often for John Taylor and all our clients, providing the real estate data they need to help their clients and boost their deals.