What price should we put on our property?

There are many variants to pricing a property and a good agent will take into consideration, recent comparable sales, current market stock, buyer enquiry, market trends, location, property condition and property presentation.

Request a professional opinion on price.

Recent comparable sales.

Comparable sales would be one of the most valuable assets to have when pricing your property.

Comparing pricing indicators with properties recently sold, will give you a clear picture about what range your property would sit in.

Current market stock.

Having an accurate understanding of what is available on the market at the time of your property will allow you to compare and position your property competitively.

Market trends.

Things like interest rates, government incentives, employment trends all contribute to determining a price on your property.

A good agent will research these factors and be able to see how they apply to your property.

Buyer enquiry.

Your local agent should have a thorough indication on buyer enquiry, not just for their stock but across the whole market.

This information would be used to determine buyer demand.

Location, location location.

they say But what is it about your location that may attract or detract buyers from looking at your property. The side of the street, the direction it faces, the local amenities, the proximity to schools and beaches. All big factors when pricing a property.

Property condition.

The condition of the property is a big factor when pricing a property, having a property in poor condition can negatively impact a result Small things can make a big difference Tidy the gardens and create a great first impression at the front of the property or give the walls a lick of paint.

Property presentation.

Fixing all the broken or run down things is great, but in today’s market presentation is a must Interior styling and hiring display furniture will create a big wow factor and contribute to the emotional connection of buyers. This can also affect the price.

Setting a sale price.

Setting the right sale price for your property is imperative. Timing is also important.

A new listing will generate interest from agents and potential buyers. After they have viewed the property, interest will decline which makes it crucial to list your property at the right price when it first goes on the market.

If your asking price is too high, you will reach a lower percentage of the market and attract fewer interested buyers.

Putting a value on your property can sometimes be difficult when emotions and past expenditure come into play, this is why a professional agent’s opinion is so important.