Do you want to sell your property? How much is it worth on the real estate market?

Whether you want to sell a property or make an offer to buy, a real estate appraisal is often a necessary step. Need to sell your property or access a mortgage? Determining the value of such an important property is not something to be done lightly. How to obtain a real estate appraisal? How does an appraisal work? Who should you trust with the process? What can you expect?

Agence immobilière Montréal


There are all sorts of reasons and motives for having your property appraised. Discovering the value of your property is sometimes a crucial step in a process or in your life.


Among the most frequent reasons to evaluate your property are the following situations:

  • The time has come to put your home up for sale. But what price to ask? You know its sentimental “value”. As for its real value, that’s a different story.
  • You’ve found a home that suits your taste. What’s more, several buyers share the same interest. Before making an offer to buy or a higher bid, a doubt creeps in. Is this coveted home worth the amount you are asking for?
  • A death or a divorce forces you to part with a property. You are preparing yourself for the idea of sharing the value of this property, in money. Precisely how much of the family’s real estate assets will go to you?
  • With your taste for real estate or your talent for renovation, you hope to build up a small capital. The idea? To buy and increase the quality of a home to better resell it. But how do you know if this added value will be worth the money invested?

Whatever your reasons, HP & Associés will make sure you get a fair value for your property.


Apart from these situations, the real estate appraisal is useful information. It is even necessary for financial institutions to agree to a mortgage loan or to approve the amount desired.

Imagine that you have fallen in love with a property that costs $700,000, but the appraiser accredited by the bank estimates its market value at $600,000. Of course, you are free to bid higher! However, you should know that it is your responsibility to make up the $100,000 difference, plus the down payment of at least 5%.

Why can’t the mortgage amount be higher than the appraisal amount? To avoid having to “over-lend”, the bank wants to make sure that the resale of the home will pay off the loan if you were to stop making mortgage payments.

Since property values tend to be overestimated in these times of scarcity, financial institutions do not want to rely on these (temporarily) rising prices. Therefore, the accredited appraiser’s mission is to estimate the property at its fair value in a normal context. A context where the purchase price is in line with its market value!

However, this is not the case in this period of real estate market shortage. According to the Association professionnelle des courtiers immobiliers du Québec (APCIQ), the median price of single-family homes in Québec jumped by 41% from April 2020 to April 2021, and by 32% for condominiums.

What to do? As your real estate broker will tell you, there is no such thing as an exact science when it comes to evaluating a property. Between one appraiser and another, the estimate can be different. Between his evaluation for one bank or another, differences in criteria can still lead to different estimates. The same property can receive several appraisals. And the appraisal report ordered by your bank remains at the mercy of the bank. For a detailed evaluation, your real estate broker can recommend certified appraisers. He can also call upon a building inspector for a more meticulous evaluation.

Agence immobilière Montréal


How can you put a price on a home where you have accumulated so many happy memories? Knowing the market value of your property means placing your property at the heart of real estate reality rather than at the heart of emotions. It is an evaluation done objectively, in your best interests.


The price of a property corresponds to its value in real estate. The value of a property varies according to certain general factors such as its usefulness in the eyes of the buyer, its scarcity (or not) on the market, the purchasing power of a population.

To determine the market value of their property, many owners rely on the amount the city assigns to it in the municipal assessment value. The municipal assessment value is the value determined, as of July 1, 18 months prior to the effective date of the assessment roll, for property taxation purposes. The municipal assessment value is therefore set (and frozen) for the next three years.

This is why there may be a disparity between the market value estimate and the municipal assessment estimate. Because prices fluctuate with the balance of supply and demand, the municipal assessment does not reflect the true market value of a property. Because the municipal assessment is a mass appraisal based on general criteria, it does not offer the accuracy of an assessment based on actual observation of your property and proven methods.

While the municipal evaluation is a good indicator, it remains a simple indicator. To evaluate a property at its true value, it is better to turn to a professional who is attentive to many details and equipped with comparative methods!

Our real estate brokers will make sure to give you the right price for the actual or planned sale of your property, based on the current real estate market.

Online valuation tools

To get a rough estimate of your property, it is possible to use online valuation tools that – either automatically or through an agent – will give you some idea of its market value.‍

However, these tools (free or paid) only offer a general assessment and do not replace an accurate assessment of your property by a broker at your service.

Contact HP & Associés to obtain an evaluation.


During an appraisal, the appraiser gathers all the information related to your building, your neighborhood and your land to get an overview.

The expert will take into account the general condition of your property and factors such as:

  • General interior condition
  • Type of property
  • Living area
  • Year of construction
  • Size of the lot
  • Number of bedrooms
  • Number of bathrooms
  • Landscaping
  • Type of flooring
  • Quality of materials
  • Location/city/neighborhood

All the experts will tell you that the more attributes a property has, the more its value increases. Every little extra asset becomes an added value that can increase the selling price. Examples of attributes that add value to a property:

  • Accessibility to public transportation
  • Proximity to shopping
  • Proximity to schools
  • Elements associated with quality of life (pool, balcony, terrace)
  • Presence of a garage or shed
  • Finished basement
  • Exterior siding materials
  • Renovations done

Knowing one’s qualities is already a lead! Another lead: identify the weak points to remedy them as much as possible. These weak points likely to depreciate the value of a property are, for example:

  • Major renovations and their costs
  • Poor window insulation (and its impact on the electricity bill)
  • Lack of air conditioning
  • An unfinished basement
  • An outdated kitchen
  • A humidity problem
  • A roof that is not maintained
  • A decoration or paintings out of the taste of the day

These are all “weak points” that can offer arguments to the buyer who is determined to negotiate the purchase price. A do-it-yourself buyer or a buyer who is inclined to do some work could see it as a “good deal” if he/she thinks of reselling the renovated property.

Nevertheless, a good impression from the first visit can only benefit the seller of a property. Without going into major renovations, small touches of improvement create the right conditions to increase the value of your home and its price. Focus on low-cost renovations by paying attention to paint, windows, door handles, columns and walkways. Consider a “makeover” of your property by focusing on the latest trends in decoration and on beautiful materials. A way to rethink the interior design to modernize your property, to give your home a new energy. Arrange the space in such a way as to create airy spaces, to play on the ambient luminosity, to exploit the living space by de-cluttering it or by structuring it according to the usefulness of each room.

Agence immobilière Montréal


How do appraisers evaluate your property? According to which method of evaluation? Which expert to turn to?


When using a certified evaluator, the process always follows the same steps:

  1. Make an appointment and get information on the fees for his service
  2. Visiting the property in person, which consists of observing the condition of the property, taking photos and making notes in the file
  3. The appraiser writes the appraisal report
  4. You will receive the official appraisal report by email (or in person)

An appraiser recognized by the Ordre des évaluateurs agréés du Québec (OEAQ) or a member of a professional association will conduct a methodical analysis of your property with the intention of issuing an impartial opinion.

There are 3 recognized appraisal methods in Quebec used by chartered appraisers, residential appraisers and real estate brokers: the comparables method, the income method and the cost method. In the final report, the appraiser will have to present the market value on the date of the appraisal, the procedure he used and a justification of the market value established. The person who requested the report will then have a complete and professional supporting document that objectively demonstrates the value of their property.

The comparable method is the most common method used to value private properties and residences. It consists of comparing the sale of comparable properties to establish a weighted average selling price. In concrete terms, the appraiser locates properties on the real estate market that have similar characteristics to yours, in order to target a realistic price. Depending on whether your home has a distinctive feature (an extra bedroom, a playroom, a pool, etc.), he or she will be able to adjust the price.

The income method is the most commonly used method for assessing the market value of rental properties. It consists of estimating the market value of a property based on the net income generated, such as rental income, whether the property is used for residential, commercial or industrial purposes. The calculation tools are based on precise mathematical and real estate finance principles. In the case of small income properties (such as Duplexes, Triplexes and Quadruplexes), the comparables method is preferred over the income method.

The cost method is more applicable for the evaluation of industrial, commercial or special purpose buildings, especially for new constructions or for buildings with special architecture or heritage value. It takes into account the value of the land, the cost of the refurbished building, the value of the outbuildings (sheds, garage, etc.), in order to obtain its final value.


Knowing how to evaluate, with accuracy and precision, the market value of a property is the job of the certified or real estate appraisers. As real estate appraisal professionals, they use recognized and precise appraisal methods. Although the title of certified appraiser is reserved for members of the Ordre des évaluateurs agréés du Québec (OEAQ)real estate appraisal is not an activity reserved for certified appraisers.

Certified appraisers hold this professional title because they have met the following requirements:

– University degree (3 years of university studies) recognized by the OEAQ

– A one-year internship with an OEAQ member

– Various OEAQ training courses

– Passing of the official admission exam

However, to evaluate your property, is it better to go through a real estate agent or a certified appraiser?
What is the difference between them?

Real estate brokers can rely on their experience to guide the seller in evaluating the market value of his property. One of the things that sets them apart is their “on the ground” knowledge of the real estate market. They have access to privileged information that allows them to target the optimal selling price for your home, based on the real estate market.

Before any estimate – and unlike certified appraisers – brokers take the pulse of the market here and now. This means that their appraisal will take into account similar properties that have sold in the neighbourhood over the past few months. Instead of looking at the single value of the property – in isolation – they put its market value into perspective. For example, a rare property – and therefore more desirable – will increase the value of the property compared to a property competing with ten other similar properties in the neighbourhood.

Agence immobilière Montréal


Our real estate brokers know how to take into account your needs as a seller or your personal situation. Do you need to sell your property as quickly as possible to meet an offer to purchase another property? Are you in no hurry to sell your property quickly? The scenario will be adapted to your situation. You are not satisfied with an appraisal performed by an appraiser accredited by your bank? Your broker will be able to flesh out your file (contribution of new “assets”, recent renovations, etc.) to obtain a revision of your evaluation. This can influence the amount of the mortgage loan!

HP & Associés’ mission is to serve your best interests, listening to your needs and aspirations! Let us accompany you…

Translate »