How do you know if you’re selling your home at the right price?

Residential, Investment, Capital Market

Planning to sell your home but unsure how to price it? How do we define the “right” price? We listed down tips on how you can arrive at the “right” value for your home and who can help you along your selling journey.

Should you consider getting an appraisal?

According to Forbes, a property appraisal can vary by several factors such as the location, condition, and amenities, whether you’re buying, selling, or refinancing. 

However, appraisals aren’t perfect and can still be subject to bias. In cases of low appraisals, sellers are often inclined to getting a second opinion from another appraiser as it can greatly affect the sale of their property. With this, sellers can provide factual evidence to make appraisers reconsider a higher valuation. Moreover, you and the buyer can also come to terms in extending the contract appraisal contingency to allow time for a new appraisal.

Ask for a professional’s help

If a seller is still on the fence even after a second opinion, it might be best to consider tapping a professional agency to handle their property appraisal. Experienced real estate companies can ensure that the property is being sold at the right price and remain competitive in the real estate market based on their industry experience, their current listings as well as based on the demand of the market. 

Identifying the “right” value

We’ve listed the three common value appraisals that you will likely encounter in the process of selling your home:

  • Zonal value

A Zonal value is a type of valuation where the price placed on a real estate property is used both for taxation purposes and basis for computing the Fair Market Value of the property. Moreover, Bureau of Internal Revenue (BIR) also uses it as the foundation for calculating internal revenue taxes, particularly on Capital Gains Tax (CGT) and Documentary Stamp Tax (DST).

In real estate transactions, a better comparison for this is the Market Value. Compared to the two, Market Value is based on land improvements and infrastructure while the commissioner determines and declares the Zonal Value. Overall, it is an approved zonal schedule of fair market values for real property. 

  • Fair market value

Fair Market value is the price an asset such as a business or property would sell for on the open market when certain conditions are met. In this type of valuation, both the buyer and seller have adequate information and understanding of relevant facts, a reasonable time to complete a deal and are acting in their own interests, and mutual agreement on the price value of the asset.

  • Appraisal value

Appraisal value is the price assigned to a property by a professional real estate appraiser. An appraiser will look into all property details in order to arrive at an appraised value. In some cases, sellers base their selling price on the appraisal value since buyers will likely seek professional advice to ensure that they are getting a good deal with a property.

Getting your home appraised

If you’re still not sure which type of valuation to use, or how to correctly determine the selling price for your home, then let experienced real estate service firms like Santos Knight Frank provide you with real data and an accurate real estate valuation for your property today.  We are a renowned real estate services agency that has a great track record of serving clients with services such as occupier services & commercial agency, investment & capital marketsresidential & sales leasing, property marketing, research & consultancy, valuation & appraisal, project management, asset management,  property management, facilities management, technical services & engineering solutions. Visit our website and speak to our real estate practitioners at

Learn more about real estate when it comes to valuation and appraisal by reading Highest-and-best-use study: Why you need this before developing your property.

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About Santos Knight Frank

The world of real estate can be a difficult place to navigate. Whether property is your investment or a tool that drives your business success, you need a partner who can guide you in every step of the way.

Since 1994, Santos Knight Frank has been guiding Fortune 1000 companies, BPOs, private clients, and institutions in all facets of real estate. We advise companies on their best office, retail, and industrial location, oversee commercial fit-out projects, and manage facilities. We have facilitated over 4 million sqm of office transactions on behalf of clients and managed over 40 million sqm of real estate under our property & facilities management arm.

Our residential brokerage platform and wide collection of bespoke homes allow our private clients to buy, lease, and sell properties within their budget, timeline, and lifestyle.

For landlords and investors, we provide valuations and appraisal, consultancy and research, sales and leasing, and property management services across the Philippines.

Santos Knight Frank is part of the global Knight Frank network of over 384 offices in 51 markets, including the strategically important U.S. partnerships with Cresa (commercial real estate) and Douglas Elliman (residential real estate).

We are locally expert and globally connected, end-to-end and best-in-class – as any great partner in property should be.