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. There are many variants to pricing a property and a good agent will take into consideration the following factors. You should always request a professional opinion on price when selling.
Pricing Indicators
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Recent comparable sales
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Current market stock
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Buyer enquiry
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Market Trends
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Location
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Property Condition
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Property Presentation
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.
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.
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.
Location
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.
