The valuation of your luxury real estate, the key step to better sell or rent your prestigious property!

'If you want to know the price of something, try to sell it.' Latin proverb

Each luxury or prestige property is unique or even atypical and can only necessarily interest a small and demanding clientele who have the means to achieve their ambition, work on impulse and will be vigilant on many points of detail, including those who a priori do not concern you as a seller.

Selling or renting a luxury property cannot be improvised!

Whatever your objective or your situation, whether you are the sole owner or in joint ownership or for a sharing or following a donation or whether you need an estimate with a view to selling following an inheritance, whatever your objective, the first step before considering selling or renting and before any step of signing a sales or rental mandate, is to have a precise idea of ​​its value.

The estimate or opinion of value is an essential step and the key on which future success will depend.

So as not to make a mistake and avoid many pitfalls because the most risky thing is that the property ends up on the luxury real estate market underpriced or overpriced so that hardly any real estate ads are put online , the property does not attract any serious buyers, viewing does not arouse any interest and does not trigger any visits.

An underpriced luxury property loses credibility, an overpriced property will struggle to sell.

The idea in terms of valuation is to find the right balance: the fair valuation price of the good increased or accompanied by a realistic negotiation margin, in order to 'give the product a chance' to sell well.

Estimating the value of your luxury real estate yourself by comparing the prices offered on real estate advertisements published on the Internet with characteristics that you consider similar to your property is certainly the method which leads to approximation and even future disappointments.

A nice quote to meditate on for those buyers who are tempted to try to buy the good deal:

'There's nothing in this world that someone can't do a little worse and sell cheaper. Those who only value price are prey to this individual because if it is stupid to pay too much, it is worse not to pay enough. When you pay too much, you only lose a little money. When you pay too little you sometimes lose everything, because the product you bought is not capable of doing what you bought it for. The law of fair balance in business prohibits getting a lot by paying too little. It's impossible. If you want to deal with the lowest bidder, it is indeed wise to add the counterpart of the risk to which you are exposed. By doing this you actually have enough money to pay for something better.' John Ruskin

You don't value your property correctly yourself!

Indeed, what do you actually know about the properties that you see advertised on real estate agency sites and luxury real estate ad portals?

An indication of surface area (although it must be exact and that you yourself have the real surface area of ​​your property to be able to compare), an indication of its location (same, the address must still be precise on real estate advertisements are communicated which is very rarely the case, real estate agencies protect this crucial information of exact location of the property), a few lines of description which are most often basic, without any real great interest and photos which in most cases only show the best, partial views of the property (and only sometimes the facade of the building, particularly in the context of the sale of condominium apartments and few shots of the immediate environment of the property).

In short, a somewhat restrictive or summary vision of the property which aims to attract buyers to find out more and visit in particular thanks to the publication of the most beautiful and attractive photos.

You should also not trust the numerous online sites that offer to provide you with a supposedly reliable estimate of the value of your property in 3 minutes.

These sites only solicit commercial advertising by offering this type of online estimation service to owners.

Still passes for goods from the traditional real estate market, but this is not at all reliable for luxury goods.

Online property valuation sites of all kinds often rely on internal data from their online databases (this is the case with many general property listing portals) and will give you an estimated price of your property based on some basic data that you communicate to them (address, surface area, number of rooms, number of bedrooms and sometimes some additional information).

Equipped with this information, these online estimation sites use their algorithms to give you an estimated price for your property, an indicative global price whose calculation method essentially consists of multiplying the price per m² of the area concerned by the surface area of ​​the property. your property that you have communicated or to use as available resources the prices and surface areas of the properties published on their sites in the area concerned to give you an opinion of value.

'Free online real estate estimate', there are 17 million pages on Google!

Very fashionable, online estimation sites are flourishing on the internet, with slogans each more catchy than the last, 'Estimate quickly and for free', 'Get a free estimate of your house in 3 minutes flat', ' Discover the value of your property in just a few clicks or even 'Make an estimate of your property quickly on the Internet thanks to our Experts.'

No, no and definitely no, we must leave that to the players in the traditional real estate market whose competition is so fierce that they seek by all means above all to recover addresses, names and contact details of owners to sign the mandate to any price, quickly taken, and even at any price!

Luxury or prestige properties are never estimated online or by multiplying the indicative price per m² of the geographical area by the surface area of ​​the property! A price per m² for a type of property (house, apartment, land, commercial space) for a specific geographical area (region, department or city) given in a low, median or high range (as on the Notaries of France or numerous portals or websites dealing with real estate) is only a simple basic indicator and cannot be the only method for understanding the work of estimating a so-called luxury property, which by essence is atypically rare and truly unique.

Looking at real estate advertisements for luxury or prestige properties on the market, using software and online valuation sites are ultimately only purely indicative, often crude means or tools to get a small idea of ​​what the property could be worth. your property.

It involves obtaining a set of clues that you consult while sitting in your chair with your tablet or smartphone, which in no way really allows you to identify the specific specificities of your property in order to have an overview of it. exhaustive and to be able to indicate a tangible and realistic market price.

A luxury property is not appreciated from a distance but through an in-depth on-site visit, taking the time, from the cellar to the attic, to see everything down to the smallest detail and fully assess all the potential and specificities of the property.

Indeed, how can we approach a property or a beautiful home without knowing its immediate environment (nearby shops, schools, etc.), how can we be interested in a luxury property without discovering its slightly wider environment with the means of communication? accessible (motorways, easy access to airports, trains, metros)?

Touring the property and its environment, in addition to an in-depth interior visit of the property, is what allows you to have a good approach to detecting its own particularities and being able to understand a realistic and reasoned estimated market price.

To do this, you must use the services and expertise of a real estate agent and in terms of luxury and prestige properties, of a specialized luxury real estate agent who has perspective, skills and many years of experience. in this very specific market.

Luxury real estate agencies have often been working on the luxury real estate market for years and have the knowledgeable and seasoned eye of a professional, capable of managing your estimate request like a good father with the essential expertise to carry out the estimation mission.

The human aspect also takes precedence: in fact, in addition to a technical, legal and environmental analysis of the property, the interview during the visit carried out in person with the owner also gives the professional the opportunity to know the objectives and expectations of the owner, 'have the history of the work carried out on the property, to obtain information on the neighborhood, on the reasonable deadline that he would set for selling, on his particular expectations with a view to putting it up for sale, etc.

All these things which relate to interaction and communication between people where sometimes little family secrets are revealed and allow not only the real estate agent to have a technical and lucid look at the property itself but also to engage in a more personal relationship which will allow him (and conversely his client) to consider a commercial relationship based on mutual trust.