How to Price your Property Correctly

How to Price your Property Correctly

It’s always hard work to sell a property, with so many things needing to be taken into consideration, not to mention the stress in your daily life getting in the way. The most important thing to get right is the price. So what factors should one consider when valuing a property? I mean the last thing you’d want to do is short change yourself, as we are talking about losing than just a few pennies. We have come up with some value methods that can help you uncover the true value of your property.

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Gauge local house prices

Take a 3-5km radius from your property and see how much houses are being listed for. Better yet, try and locate houses that were sold in your area in the past 3-6 months, and for what price. Don’t look too far into further suburbs, as prices can vary substantially from neighbourhood to neighbourhood. Recent sales and current listing prices can give you an idea of where your property stands in the market.

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Get an appraisal by a professional

The most sensible way to find out the true value of your property is to ask an expert, make sure you choose somebody who knows what they’re on about, and certified. The whole team at Asset Agents have worked in real estate for decades and can definitely help you price your property to its true value.

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Check the market conditions

This is a common theme with anything related to buying or selling property, but nevertheless an important one. If the market is slow, you will have to price your property more competitively to sell. A good question to ask yourself when the market is running slow is do I really need to sell now? If the answer is no, wait and see if the market changes for the better, by waiting 6 months to a year, you could get as much as 10-15% more for your property than if you sold it during the slower months.

It’s quite difficult to pinpoint where the property market is at during any one time, or where it will be heading unless you’re a professional. Feel free to call the team at Asset Agents, to get good quality information about the markets in your local area, and what the right play is for you.

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Don’t over price, and don’t under price

Well it’s quite obvious why you wouldn’t want to under price your property, but why is it a bad idea to over price your property? Well I’ll tell you, properties tend to get the most amount of viewings during the first 2-3 weeks of the property being on the market. As the old saying goes, you only get one chance at a first impression, so if your property is overpriced the buyer’s impression of your home is going to be a negative one, and they won’t buy. You want to give buyers a reason to buy, not to walk away, and by overpricing your property you will force away the majority of buyers.

For these reasons it’s imperative that you do adequate research into all the things we’ve listed today, in order to obtain an accurate price for your property. We know selling a property can be difficult and stressful, and following our check list while you have a job and family is extremely difficult and time consuming. So why not let the team at Asset Agents take some of the burden off your shoulders and help you out? Feel free to contact us today, and see what we can do for you.