In the real estate business there are 2 types of value that can be applied to a property. They are Objective and Subjective.
Some owners of real estate formulate a value they feel their property is worth. This is called Subjective Value. It is based on emotion. In most cases it is higher than the true market value.
Objective Value can be proven. In order to do this, statistics from past sales, expired listings and properties currently on the market for sale are used. Real estate appraisers gather information from the Multiple Listing Service (MLS) to form an opinion of value for a property.
If you are considering putting your property on the market, contact someone that has access to the information required to establish the true value. Contact a real estate agent or real estate appraiser.
Check out our Durham Region Homes For Sale website.
