RE/MAX Malta has built an “industry-changing tool” to assist agents in pricing properties. As part of the company’s commitment to setting new standards in the industry, it has created its own Property Price Index and Comparative Market Analysis (CMA) tools, designed specifically to guide agents in providing a more professional service for their sellers.
“We have the largest list of immovable property for sale on the island and we are using our data to deliver cutting-edge tools that provide a better service to the industry,” RE/MAX Malta chairman Kevin Buttigieg says.
The tools bring two very important facilities to the fore. Firstly, the Property Price Index acts as a guide to understanding average prices. Then, the Comparative Market Analysis tool allows each agent to create a case study to compare a seller’s home with other similar listed properties that have been sold in the same area. This gives very clear data about the results that can be expected.
“The tool has been built to only provide the vendor with the necessary market information they need to make a knowledgeable decision,” Buttigieg continues.
“It is important to know that the CMA tool is used as a guide and, under no circumstance, is it a gaurantee. However, with the amount of data we hold in our database, it provides the vendor with a pretty good idea of where to realistically price their home.”
There is no denying that the real estate industry is facing a shift from a sellers’ market to a buyers’ market. However, Buttigieg makes it clear there there has been no sign of major decreases in property prices in the current sales that are being registered.
“During the last three months – and even though we have faced a drop in business due to COVID-19 – we have not seen any major decreases in property prices when it comes to actual sales figures to date. That said, we do expect the market to shift and a correction is inevitable,” he explains.
As Buttigieg advises, selling a property during a buyers’ market can be a difficult task due to the vast number of properties that are available and pricing a property correctly is the key to selling a home. Thus, the CMA tool that has been developed will provide RE/MAX agents with an edge over their competitors because they will all have this critical mechanism at their fingertips.
“We have all faced a buyers’ market before and know that the only way for an agent to be able to be successful is for them to have the necessary market knowledge within their own niche market. Our tool will automatically position our agents as experts in their field, thus providing them with an advantage over the competition.”
Buttigieg also elaborates on the fact that the company will be launching a new product for sellers in the near future.
“We are currently working on new packages that will provide our sellers with a better chance of selling their homes quickly and at a good price. More will be revealed soon,” he concludes.
For more information or guidance on how to sell your property, visit www.remax-malta.com/sellling.aspx or contact your nearest RE/MAX office.