A realistic SALE PRICE is essential to both Residential and Commercial property sales. Setting this price is an essential step before listing and the seller has a number of means to achieve this.
Importance of setting your Property Sale Price:
Realpro.com.au can help provide recent residential sales data to our Users, if available, to help set their residential property sale price. Once a User has registered and paid for the chosen Service Option, this data is a free service.
It is also worthwhile to hire a reputable and licensed real estate valuer and buy an independent professional valuation. Their Fee can be normally up to a few hundred dollars.
Once you have an unbiased evaluation of the market value of your property, you then can determine to set your Property Sale Price.
Overpricing can cause as much damage to your sale as going too low. Real Estate Agents often suggest a higher price to a seller to get the sales agreement and then lower it when buyers reject an unrealistic price. The difference in their commission is very little but the seller is left out of pocket and wastes time. Private sale avoids this and emphasises the importance of setting the right price.
Compare sale prices of comparable properties within a kilometre or so of your property. This sales data is generally within the last six months. Using the postcode for your property, examine properties that are similar in standard of accommodation and facilities, lot size and specific location. Use online aids and sale price data and list a range of property prices closest to yours.
Valuer’s Report
You may wish to take the more formal step of gaining a professional report on your property from a certified Valuer. Realpro.com.au can help here, also, with recommendations to reliable practitioners. This person can more accurately gauge the effect of market variations, specific aspects of your property that are unique and, most importantly, be totally objective in striking a value that is close to that of a buyer.
It will be an additional cost but is a valuable selling tool, especially in negotiations with a buyer, and that can justify the expense.
Realpro.com.au will recommend a Valuer who includes a confidentiality clause in their agreement, carries out an internal inspection of your property and provides complete documentation as part of their report, such as, title and survey certifications and description of the property.
Once you have set a realistic price for your property, it will repay you in a private sale by giving you, our User, an attractive and realistic price for the property listing that avoids the manipulation an Agent may carry out to both gain your sale, advertisement and then a Commission, at your expense.