How to set a realistic asking price

Context

Compare similar properties, then account for the differences

1. 01
   Compare properties in the same area

   Compare within the same surroundings and consider distance from the sea, access, noise, services, orientation and seasonal demand.

2. 02
   Standardise areas and features

   Separate interior area, terraces, garage, storage, land and pool. Compare properties of the same type, condition and quality.

3. 03
   Distinguish listing from transaction

   Property portals show sellers’ expectations. A home advertised for a long time does not prove that the market accepts that price.

4. 04
   Consider the buyer’s cost

   Works, energy efficiency, condominium costs and unresolved document issues affect what a buyer is willing to pay.

Strategy

Define the objective before choosing the number

Timescale, the need to buy another home, an existing mortgage and the state of the legal documentation all change the strategy. A seller without a deadline and one who must coordinate two transactions may choose different approaches.

Record the initial response: enquiries, viewings, objections and offers. If the market repeatedly gives the same message, review the positioning instead of allowing the listing to become stale.

What not to use alone

A taxable property value, calculator and neighbouring listing are not enough

• The taxable property value (valor patrimonial tributário, VPT) is used for tax purposes and is not the market price.
• An automated calculator cannot see condition, light, view, noise or quality of works.
• The neighbour’s asking price may never have been accepted by a buyer.
• A valuation should state its assumptions and margin of uncertainty.