How to determine the selling price of real estate?

Your Guide through the Real Estate Jungle - Episode 3
12.May 2021
 
Homepage New articles

If you’ve chosen one or several real estate agencies according to the criteria we talked about in the last episode, if you haven’t left the sale or rental of your property to a know-it-all who dabbles in everything, including real estate, and if you paid no attention to the advice of “well-meaning” friends who seem all too eager to mediate the sale of your apartment, you are on the right track.

Video

Price

Let’s talk about price now. Don't expect to call a real estate agent,

tell him the area of your apartment, its location, and immediately get a price for which the agency could rent/sell it. A professional will never tell you straight away.

All you have to do is google the average price per square meter in your locality and multiply it by the dwelling surface. And you’re on your way to real estate hell. Why? An experienced real estate agent will never give you a ballpark price, because he knows that it can be affected by a lot of factors. Those include, for example, views,

height of the ceilings, potential of the surrounding area... There are at least 40 such factors, and only then comes the comparison with the rest of the market.

Penthouse s výhledem na Hrad na prodej - 288m
Penthouse s výhledem na Hrad na prodej - 288m, Praha 1

Free estimate:

Have you already seen the motto: "Free estimate"? Don’t let anyone fool you. We all know that only the cheese in a mousetrap is free.

You fill in information about your property including personal contacts, location, area and so on, on a fancy, colourful website full of pictures. And what will that get you? Your data will go directly to the broker that cooperates with this professional estimation portal.

Or the company that owns the estimation portal resells your data.

What then…? You’ll get a call from some kind of broker.

What’s better, to choose a real estate agency yourself, or to broadcast your personal data without knowing where it might end up?

Exclusivity - yes or no?

Another issue that affects the selling price is: Should you entrust your property to a real estate agency exclusively or not?

Some people are against exclusivity, arguing that they already tried it with someone else and it didn't work out. One reason could be

that before entrusting your house or apartment to that real estate agency, you failed to do the research we talked about in episode 2.

In that case, stop this video and check out the episode "How to choose a real estate agency".

There are also resourceful owners who, instead of entrusting their property to one real estate agency, want to "create competition" between multiple intermediaries!

Some readers may be asking themselves: What does exclusivity have to do with the price of real estate? The answer is: more than you'd expect! Let me list the three main factors:

A property offered by several real estate agencies doesn’t look as exclusive.

Non-exclusivity drags down the price of your property on the market.

As a consequence of the competition you so wanted, every real estate agency will try to sell the property as quickly as possible, no matter for how much. Those interested will call several realtors to force you to lower the price. And you won’t even know it’s all the same bidder, bidding against himself.

If a real estate agency has your property in its offer exclusively, and several parties show interest in it at the same time, it will try to sell it at the highest possible price, because it won’t be under pressure from the competition. What is more beneficial for you? When real estate agencies compete for business, or potential buyers for your real estate?

If your property is offered by several real estate agencies for the same price, you have to keep an eye on them. Why? It’s only a matter of time for the weakest one to start lowering the price of your property in order to attract clients.

So, what will it be: the opinion of an expert, or will you put a price tag on your property yourself by multiplying the area by price per square meter? A competition of real estate agencies, or selling for a higher price? Your ideas about the real estate market versus our facts.

Only you can decide which way is the right one.

In the next episode, you will learn why some properties are unsellable.

Luxury Prague Life

Share / become a fan

About the author

Elena Jakubovic
Luxury Real Estates
Luxusní rodinný dům Praha 6 - Ořechovka
Praha 6

Luxusní rodinný dům Praha 6 - Ořechovka

5 + 1 246 m²
46 900 000 CZK
Show property
Luxusní vila na prodej - Praha - západ - 632m
Okolí Prahy

Luxusní vila na prodej - Praha - západ - 632m

6 + KK 632 m²
price upon request
Show property
Luxusní vila na prodej v Průhonicích
Okolí Prahy

Luxusní vila na prodej v Průhonicích

4 + 1 500 m², ter. 200 m²
price upon request
Show property
Luxusní vila na prodej v Šáreckém údolí
Praha 6

Luxusní vila na prodej v Šáreckém údolí

7 + 2 440 m², bal. 5 m²
price upon request
Show property
Rodinný dům na prodej Praha 4 - Braník - 217m
Praha 4

Rodinný dům na prodej Praha 4 - Braník - 217m

5 + KK 217 m²
21 594 642 CZK
Show property
Luxusní penthaus na Praze 1 - 226m
Praha 1

Luxusní penthaus na Praze 1 - 226m

4 + 1 226 m², bal. 7 m², ter. 24 m²
price upon request
Show property
Luxusní byt na prodej Praha - 320m
Praha 5

Luxusní byt na prodej Praha - 320m

5 + KK 320 m², bal. 4 m², ter. 38 m²
price upon request
Show property
Luxusní kancelář s terasou Praha 1 - 321m
Praha 1

Luxusní kancelář s terasou Praha 1 - 321m

4 + KK 321 m², ter. 144 m²
38 256 000 CZK
Show property
Prodej luxusního bytu Praha 1- 212m
Praha 1

Prodej luxusního bytu Praha 1- 212m

4 + KK 212 m², ter. 7 m²
price upon request
Show property
Byt Smetanovo nábřeží 191m
Praha 1

Byt Smetanovo nábřeží 191m

4 + KK 191 m², bal. 3 m²
price upon request
Show property
Luxusní byt se zahradou na Praze 8 - 346m
Praha 8

Luxusní byt se zahradou na Praze 8 - 346m

4 + KK 146 m², ter. 27 m²
price upon request
Show property
Byt Malá Strana Magenta 31m
Praha 1

Byt Malá Strana Magenta 31m

1 + KK 31 m², bal. 3 m²
price upon request
Show property
Luxusní penthouse Troja 311m
Praha 7

Luxusní penthouse Troja 311m

4 + KK 311 m², ter. 95 m²
price upon request
Show property
Penthouse s výhledem na Hrad na prodej - 288m
Praha 1

Penthouse s výhledem na Hrad na prodej - 288m

5 + 1 288 m², ter. 42 m²
price upon request
Show property
Luxusní byt k prodeji - Praha 5 - 93m
Praha 5

Luxusní byt k prodeji - Praha 5 - 93m

3 + KK 93 m², ter. 11 m²
11 258 000 CZK
Show property
Pronájem bytu Praha 5 - Jinonice - 50m
Praha 5

Pronájem bytu Praha 5 - Jinonice - 50m

1 + KK 50 m², bal. 9 m²
16 000 CZK
Show property
Pronájem luxusního bytu s terasami Praha 4
Praha 4

Pronájem luxusního bytu s terasami Praha 4

3 + KK 137 m², ter. 17 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 1 - 721m
Praha 1

Moderní kanceláře k pronájmu, Praha 1 - 721m

Atypický 721 m²
price upon request
Show property
Pronájem luxusního bytu s terasami Praha 4
Praha 4

Pronájem luxusního bytu s terasami Praha 4

3 + KK 137 m², ter. 17 m²
price upon request
Show property
Prodej rodinného domu na Praze 5-191m
Praha 5

Prodej rodinného domu na Praze 5-191m

5 + KK 191 m²
19 850 000 CZK
Show property
Luxusní byt na prodej - Praha 2 - Vinohrady
Praha 2

Luxusní byt na prodej - Praha 2 - Vinohrady

2 + KK 62 m²
13 980 000 CZK
Show property
Luxusní byt na prodej - Praha 2 - Vinohrady
Praha 2

Luxusní byt na prodej - Praha 2 - Vinohrady

2 + KK 57 m²
11 920 000 CZK
Show property
Luxusní byt na prodej - Praha 2 - Vinohrady
Praha 2

Luxusní byt na prodej - Praha 2 - Vinohrady

2 + KK 53 m², bal. 3 m²
11 850 000 CZK
Show property
Luxusní byt na prodej - Praha 2 - Vinohrady
Praha 2

Luxusní byt na prodej - Praha 2 - Vinohrady

3 + KK 93 m², bal. 3 m²
19 453 408 CZK
Show property
Byt na prodej - Praha 6 - Liboc - 47m
Praha 6

Byt na prodej - Praha 6 - Liboc - 47m

2 + 1 49 m², bal. 2 m²
5 746 000 CZK
Show property
Byt na prodej - Praha 6 - Liboc - 53m
Praha 6

Byt na prodej - Praha 6 - Liboc - 53m

2 + 1 55 m², bal. 2 m²
6 198 000 CZK
Show property
Byt na prodej - Praha 6 - Liboc - 105m
Praha 6

Byt na prodej - Praha 6 - Liboc - 105m

3 + KK 105 m²
10 934 000 CZK
Show property
Byt na prodej - Praha 8 - Libeň - 60m
Praha 8

Byt na prodej - Praha 8 - Libeň - 60m

2 + 1 60 m²
6 457 000 CZK
Show property
Byt na prodej - Praha 8 - Libeň - 73m
Praha 8

Byt na prodej - Praha 8 - Libeň - 73m

2 + 1 73 m²
7 340 000 CZK
Show property
Luxusní penthouse na prodej Praha
Praha 6

Luxusní penthouse na prodej Praha

4 + 1 242 m², ter. 68 m²
price upon request
Show property
Luxusní byt na prodej - Praha 2 - Nové Město
Praha 2

Luxusní byt na prodej - Praha 2 - Nové Město

7 + KK 259 m², ter. 12 m²
price upon request
Show property
Vila na pronájem - Praha 6 - Hanspaulka - 256m
Praha 6

Vila na pronájem - Praha 6 - Hanspaulka - 256m

5 + KK 256 m², bal. 15 m², ter. 24 m²
price upon request
Show property
Luxusní byt na pronájem Na Hřebenkách - Praha
Praha 5

Luxusní byt na pronájem Na Hřebenkách - Praha

4 + KK 199 m², ter. 14 m²
85 500 CZK
Show property
Byt na prodej - Praha 4 - Záběhlice- 64m
Praha 4

Byt na prodej - Praha 4 - Záběhlice- 64m

2 + KK 64 m², bal. 6 m²
5 980 425 CZK
Show property
Byt na prodej - Praha 4 - Záběhlice - 85m
Praha 4

Byt na prodej - Praha 4 - Záběhlice - 85m

3 + KK 85 m², ter. 11 m²
7 811 050 CZK
Show property
Prodej rodinného domu Praha 5 - Malvazinky
Praha 5

Prodej rodinného domu Praha 5 - Malvazinky

5 + KK 156 m², ter. 21 m²
17 722 500 CZK
Show property
Prodej rodinného domu Praha 5 - Malvazinky
Praha 5

Prodej rodinného domu Praha 5 - Malvazinky

5 + KK 189 m², ter. 41 m²
16 995 750 CZK
Show property
Byt na prodej - Praha 9 - Kyje - 71m
Praha 9

Byt na prodej - Praha 9 - Kyje - 71m

1 + KK 39 m²
4 769 000 CZK
Show property
Luxusní kancelář na prodej, Praha 1 - 209m2
Praha 1

Luxusní kancelář na prodej, Praha 1 - 209m2

5 + 1 209 m²
price upon request
Show property
Byt na prodej - Praha 9 - Libeň - 49m
Praha 9

Byt na prodej - Praha 9 - Libeň - 49m

2 + KK 49 m², bal. 3 m²
5 874 300 CZK
Show property
Luxusní byt na pronájem Staré Město - 212m
Praha 1

Luxusní byt na pronájem Staré Město - 212m

6 + KK 212 m², bal. 5 m²
100 000 CZK
Show property
Luxusní byt s terasou Troja 152m
Praha 7

Luxusní byt s terasou Troja 152m

2 + KK 152 m²
32 400 000 CZK
Show property
Obchodní prostory k pronájmu, Praha 8 - 280
Praha 8

Obchodní prostory k pronájmu, Praha 8 - 280

Atypický 280 m²
price upon request
Show property
Obchodní prostory k pronájmu, Praha 8 - 70
Praha 8

Obchodní prostory k pronájmu, Praha 8 - 70

Atypický 70 m²
price upon request
Show property
Restaurace k pronájmu, Praha 8 - 519
Praha 8

Restaurace k pronájmu, Praha 8 - 519

Atypický 721 m², ter. 202 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 8 - 332
Praha 8

Moderní kanceláře k pronájmu, Praha 8 - 332

Atypický 332 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 8 - 446
Praha 8

Moderní kanceláře k pronájmu, Praha 8 - 446

Atypický 446 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 8 - 361
Praha 8

Moderní kanceláře k pronájmu, Praha 8 - 361

Atypický 361 m²
price upon request
Show property
Byt na prodej Praha 1 - Josefov - 125m
Praha 1

Byt na prodej Praha 1 - Josefov - 125m

3 + KK 125 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 8 - 483
Praha 8

Moderní kanceláře k pronájmu, Praha 8 - 483

Atypický 483 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 8 - 249
Praha 8

Moderní kanceláře k pronájmu, Praha 8 - 249

Atypický 249 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 8 - 490
Praha 8

Moderní kanceláře k pronájmu, Praha 8 - 490

Atypický 490 m²
price upon request
Show property
Luxusní kancelář na prodej Nové Město - 109 m²
Praha 1

Luxusní kancelář na prodej Nové Město - 109 m²

3 + KK 109 m²
17 995 000 CZK
Show property
Kanceláře k pronájmu, Praha 1 - 387m2
Praha 1

Kanceláře k pronájmu, Praha 1 - 387m2

Atypický 387 m²
155 000 CZK
Show property
Prodej luxusní administrativní budovy v Praze
Praha 6

Prodej luxusní administrativní budovy v Praze

966 m²
42 000 000 CZK
Show property
Obchodní prostor na prodej, Staré Město - 215

Obchodní prostor na prodej, Staré Město - 215

215 m²
price upon request
Show property
Supermakléřky - real estate comics