The asking price and the value of a property are two different things. Learning to read the distance between them is the most useful skill a buyer can develop.
The asking price and the value of a property are two different things. Learning to read the distance between them is the most useful skill a buyer in the luxury market can develop.
Start with the comparables
Before visiting a property, ask to see the recent sales of comparable residences in the same building or neighborhood. A list of active listings tells you what sellers hope for; the solds tell you what buyers have actually agreed to pay.
Read the days on market
How long a property has been available, and whether the price has changed during that time, tells a story. A fresh listing priced correctly will move quickly. A listing that has sat and been reduced is a different conversation — and sometimes a different opportunity.
The role of an advisor
A buyer's representative should be doing this work with you, not for you — bringing the evidence, reading it honestly, and helping you understand where a property sits relative to its true value. That is the foundation of a confident offer and a clean negotiation.