Top 5 tips for Pricing your property for sale
Pricing your property for sale can be a big decision – price it too high and it will sit on the market for a long time, price it too low and you’ll be selling yourself short!
I’ve been selling property in Cairns for well over a decade, so I’ve picked up a few tips and tricks along the way.
It’s important to understand that there is no exact science to setting price and there are a number of influencing factors you’ll want to consider.
Here are my top 5 tips for Pricing your property for sale:
- Maximise the appeal
Before pricing your property for sale, it’s important to do everything you can to maximise the appeal of the property. This doesn’t mean spending a fortune on it but rather some basic cosmetic details. Details such as ensuring gardens are maintained and lawns are mowed, light bulbs are all working, benches and shelves are clutter-free etc. If you aren’t sure where to start, a great real estate agent will be able to give you some pointers on what may deter or inspire potential buyers. You’d be amazed what a difference the little details can make!
- Do your research
This has never been easier than now. Begin your research online. There are a number of websites that will allow you search the recently sold properties in your area. Using this information and comparing the size, features etc with your property will give you a good idea what price range is appropriate. Some websites you might like to explore include:
- Interview Local Agents about pricing your property for sale
Speak to local real estate agents to gauge how realistic your price expectations might be. A skilled agent will know the market well and be able to help you settle on the right price to list your property for. They may even have buyers looking for property in your area which could save you on advertising fees.
- Consider hiring a property valuer
It’s easy to look at your own property through rose-coloured glasses but this doesn’t help when pricing your property for sale. It’s important to be able to see the “flaws” or “issues” that may affect the final sale price. An independent, registered valuer may be something to consider, particularly for a unique property. A valuer will look at the property and its features objectively and based on current market rates, they will give you a value estimate. This is different than an appraisal that is usually offered free of charge by a real estate agent as it’s a more thorough process and can be used as part of the sales process with your agent.
- Share the invisible features
It’s important to highlight those invisible or hard-to-see features of the property with your agent. Things like roof insulation, friendly neighbours, local events/activities/facilities etc. Bringing these to your agent’s attention can ensure that he/she uses them as a selling point with buyers and may just help you fetch the price you want.
That’s my Top 5 tips for Pricing your property to sell. If you have questions or would like to chat about how I might be able to sell your property properly for you, please get in touch.
Daniel Sheehan
0409 265 326
