If you're thinking about selling your home, one of the first and most important steps is setting the right price. To attract qualified buyers and get the best possible outcome, your Realtor will help determine your home’s current market value—a figure that reflects what your property is truly worth in today’s market conditions.

What Is Market Value?

Market value is the price a buyer is willing to pay for a home like yours, in your area, under current market conditions. It’s not based on outdated numbers or formulas—it’s based on real-time data and what’s actually happening in your local market.

How Do Realtors Determine Market Value?

When you're working with a professional Realtor, you're getting access to far more than just a price guess. Your Realtor will:

• Review recent sales of similar homes in your neighbourhood

• Look at active listings and pricing trends to understand competition

• Conduct a comprehensive walk-through of your home to account for renovations, upgrades, and standout features

• Consider current market conditions and economic indicators that may impact pricing

This detailed and personalized approach ensures your pricing is both competitive and strategic.

What About BC Assessment? Should I Rely on That?

While the BC Assessment can offer a general sense of a property’s value, it’s important to understand that it's not intended to reflect current market value.

The BC Assessment:

• Uses data collected as of July 1 of the previous year

• Is primarily used for property taxation

• Rarely involves in-person property inspections

• Doesn’t take into account recent renovations, current buyer demand, or market fluctuations

It’s a standardized estimate, and while sometimes close—especially in uniform neighbourhoods—it often misses the mark for unique homes or changing market conditions.

Think of BC Assessment as a background reference, not a pricing tool.

Why Realtor Valuations Are More Accurate

Unlike assessments, Realtors:

• Use up-to-date MLS data

• Factor in real-time buyer behaviour and competition

• Consider your home’s true condition, upgrades, and curb appeal

• Understand the subtleties of your neighbourhood, including zoning, views, and lot premiums

This means you're not just getting a number—you’re getting a strategic pricing plan tailored to help your home stand out and sell with confidence.

Let’s Talk Strategy

If you’re curious about your home’s true value or ready to make a move, let's connect. Our team is here to guide you through every step with a personalized approach that saves you time, maximizes your return, and ensures a smooth transaction.

📞 Contact us today to schedule your professional home valuation. Let's make your real estate journey a successful one.