The cost of an expertise depends on the scope of the expert’s tasks and should be negotiated as early as possible. The cost of the appraisal is based on the market value of your property plus the cost of the appraisal.

As a guideline, the Federal Association of Experts specifies a fee of 1,500 euros for a property value of less than 150,000 euros and around 3,000 euros for a property value of more than one million. For a short report you have to reckon with costs from 500 euros. However, be aware that a short appraisal is not legally binding, but rather represents a professional appraisal that does not offer the depth of the property’s value.

Of course, you can also get an initial price overview and carry out an initial real estate appraisal online free of charge. Various online calculators and comparison tools are available for this purpose.

Which bodies support the valuation of real estate?

There are various contact points that will support you in determining the value or evaluate your property directly. You can consider the following positions:

• Real estate agents who offer real estate appraisal as a service.
• Comparison portals that enable real estate appraisals online free of charge.
• Qualified appraisers and experts (e.g. architects, engineers and brokers) who carry out a complete property valuation.

With Flexmakler you can use the online calculator to evaluate your property free of charge in order to get an initial price estimate and also take advantage of comprehensive advice, property inspections and property valuations from our experts.

What online tools are there for property valuation?

Anyone who is still at the very beginning of a real estate sale may want to get a rough overview of price comparisons and offers before starting a specific marketing strategy.

There are an increasing number of online tools that offer free home valuations in just a few minutes. When using an online comparison calculator, however, you must be aware that this is not an assessment by experts.

What online tools can deliver quickly and conveniently is a price estimate based on comparisons of offers and value developments in the real estate sector. However, the estimated value is general and only uses your information on location, construction, year of construction, living and usable space and equipment.

A first impression of possible sales prices gives you a first basis for negotiation when evaluating and pricing your property. However, trained experts cannot be replaced by online tools.

Among the many online providers, there are only a few that deliver really reliable values. The most popular and trusted online tools include the following providers for an assessment:

• real estate world
• Immobilienscout24
• sprinkler
• flex broker

Can a free property appraisal be trusted?

Not every provider who offers a property valuation online free of charge is also trustworthy. As in many cases in the digital service sector, the following often applies here: If you get something for free, you pay with your data.

There are more than enough free offers. Above all, they rely on the fact that a property sale should often take place promptly and with as little effort as possible. However, an evaluation of your property that takes all aspects and factors into account and creates an individual offer in line with the market is not possible if the property evaluation is carried out free of charge and online.

In addition, there is a risk that a free home appraisal for less trustworthy providers is only used to quickly obtain brokerage orders without ultimately assuming liability for the sale. In these cases, the attractive price estimate rarely corresponds to the true market value.

So make sure that you stick to reliable and tested providers such as Flexmakler when searching. Immowelt, Immobilienscout24 and Sprengnetter are also reputable providers. Above all, do not make any economic decisions based on incomplete analyses, because free and fast services cannot replace the expert knowledge of experts.

With Flexmakler you not only have the opportunity to get an initial orientation based on well-founded analyzes free of charge through an online property valuation. You can also contact our experts directly afterwards in order to determine a concrete and trustworthy market value for your property and to develop a marketing strategy.

Can the market value also be determined anonymously?

Anyone who decides to determine the market value of their own property online and free of charge probably wants one thing: an anonymous preliminary assessment and the best possible data protection. With a service such as the valuation of real estate, however, it is unavoidable to provide essential data on the location and condition of a house or apartment. The more data on the property is available, the more specific the evaluation will be. The less data you want to provide, the less accurate the result will be.

If you choose Flexmakler, you can rely on safe and trustworthy handling of personal data. In addition, you are in direct contact with our personal advisors, who will help you to determine a reliable and concrete market value.

What distinguishes a reputable appraisal?

Not every real estate sale requires a certified market value appraisal. However, when it comes to court proceedings, inheritance and divorce matters, tax issues or asset transactions, you need a legally reliable real estate appraisal in the form of well-founded and court-approved market value reports.

A reputable appraisal is a full appraisal that is only prepared by officially recognized appraisers and qualified experts. In any case, the experts should be familiar with the location-specific real estate market.

An appraisal can be prepared for undeveloped land as well as for condominiums/houses and commercial or commercial real estate. It must comply with paragraph 194 of the Building Code and the valuation must be based on the provisions of ImmoWertV and the guidelines of the Federal Ministry of Transport, Building and Urban Development.

A reputable report must contain at least the following:

• Legal conditions of valuation
• Specific properties and condition of the property
• Property location and other value-increasing or -reducing valuation factors

The property value is determined and recorded in the appraisal using pricing mechanisms on the property market and under normal business conditions. Unusual and personal circumstances of the property owner are not taken into account.

Which software can be used to value a property?

Professional real estate appraisal software is particularly important for appraisers and brokers. It should be emphasized that even sophisticated evaluation software cannot replace the experience and knowledge of experts, but can only supplement it.

Automation of comparable standards and real estate properties is quite common and hardly conceivable on the current real estate market without digital support. However, complex analyzes require the expertise and experience of real estate agents and appraisers.

What role does IFRS play in the valuation?

The first thing to be clarified is: What does IFRS actually mean? IFRS stands for International Financial Reporting Standards. The IFRS are accounting standards that apply to companies internationally and are issued by the International Accounting Standards Board. They make it possible to compare operating results separately from national accounting standards for the world market and to promote cross-border standardization of real estate valuation.

Two principles are central to the IRFS:

1. Accrual principle:

Balance sheet items are assigned and considered in terms of time.

2. Continuation principle:

When evaluating balance sheet items, it is assumed that the company will continue to operate.

The IFRS play a role in real estate valuations in that the market for international real estate transactions is becoming more and more dynamic and flexible, and experts therefore have to keep an eye not only on national value developments, but also on international market value trends.

Internationally, the IFRS also have a significant impact on German valuation standards. It is all the more important to be able to rely on a reliable valuation and to stick to experts who can prepare appraisals based on the standardized, internationally recognized IFRS rules.

Which points are important for the market value?

The value of a property is determined by various objective criteria, all of which must be considered and evaluated in the context of the individual property valuation. The following factors are particularly important when it comes to determining the value.

1. Condition and characteristics of the property:

The real estate value essentially depends on the year of construction, the current condition and the need for renovation. Completed or pending modernization and renovation work can increase or decrease the value. Equipment, type of construction and materials are also important. When it comes to equipment, a distinction is made between simple, medium, upscale and very upscale equipment.

2. Energy standard:

The energy standard is part of every assessment. An energy certificate must be available for every house sale. Energy consumption or requirement certificates are in turn dependent on the year of construction and the type of property.

3. Location analysis:

The location and the local supply-demand situation have a major impact on the value. A distinction is made between macro and micro locations. The macro location evaluates the property according to its regional or urban location. The micro-location evaluates the immediate location of the property in terms of road proximity, neighborhood, district, shopping and childcare facilities, pollution and connection to local public transport.

4. Living and usable space:

A main criterion in determining the market value is the determination of living space, which determines the real estate value on the basis of living and usable space.

Is there a valuation difference between houses and apartments?

For the valuation, it basically makes no difference whether you want to have an apartment or a house appraised. For appraisers, it is first of all decisive whether it is a condominium or a condominium or whether a commercial property is to be sold. Further details and factors are then determined during the inspection of the property and the evaluation of the necessary property documents and information.

What specialist literature is there on the subject of property valuation?

The ImmoWertV (Real Estate Value Determination Ordinance) is a central reading matter for real estate valuation. In it you will find the key legal regulations and criteria for current valuation standards for real estate explained.

If you are looking for further specialist literature on real estate valuation, the following texts are recommended:

• The valuation reform with all changes 2010 by Thomas H. Garthe
• ImmoWertV – The new valuation law – Commentary on the real estate determination regulation by Hans-Otto Sprengnetter
• Land valuation for practitioners by Klaus Bernhard Gablenz
• ImmoWertV. Commentary by Peter Zimmerman

What should be considered when choosing experts?

When choosing a reputable expert, the most important thing is to pay attention to legal and technical knowledge and a connection to the location. Only consultants who are familiar with the local real estate market are able to give the best possible assessment for your individual sales project.

Choosing the right appraiser is very important because an incorrect valuation can result in you having to undersell a property if it stays on the market for too long. It is therefore all the more important to have an expert at your side who assumes liability for a market value determination and explains the value determination to you in a transparent and understandable way.

With Flexmakler you can rely on reliable and experienced partners who are keen to support you in the valuation and marketing of your property.