Accurately estimating the value of your property
Your objective should be to sell at the best possible price, within a reasonable time frame. To achieve this, it is key to put your property on the market at the right price, with the estimated price based on recent sales and current demand for your property. Be demanding, ask for supporting evidence on which the values that are given to you are based, and keep in mind that the prices you see on Internet or in agency windows often differ significantly to sales prices actually achieved.
You should try to avoid two stumbling blocks: undervaluation, which may speed up the sale, but prevents you from selling at the best possible price, and overvaluation, which is unfortunately often practised by estate agents looking to pick up a mandate to sell. This practice has negative consequences for the seller, it hampers effective marketing efforts, and often results in a final sale price that is lower than one that could have been achieved with correct price pegging, particularly in a stagnant or bear market.