With the market constantly moving, there are 3 things you should be aware of for pricing your home to sell.
If you are wondering how to get the asking price for your home so it doesn’t sit on the market this video will outline how to undertake house price research, how to price your home and how to get the asking price.
If you’re ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist.
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Do your house price research
How do you arrive at the right price for your home to ensure you’re pricing your home to sell? The best place for you to start is to do some research yourself. Before you have an agent come in and let you what they think, get a bit of an idea yourself. Three great real estate portals to use as research tools are:
- realestate.com.au
- domain.com.au
- One Agency JD Property Agents recent sale
When using realestate.com.au and domain.com.au it’s very important to go into the sold section as this is a true reflection of what properties are actually selling for. Look at the sold tab, put in your suburb and also make sure you’re looking at other homes that are matched to yours.
If you have 3 bedroom 2 bathroom double garage house, look at homes that are 3 bedroom 2 bathroom and double garage. This will narrow your search and you will get a great feel on what your property is actually worth to ensure you are pricing your home to sell. You can also look through the photos of the homes that have sold, both internal and external, giving an idea of its condition.
Why should you attend an open house
However, online research does not replace a physical inspection on the home.
It’s really good to step inside the properties that are on the market that have characteristics similar to yours, and take yourself off to a few open homes. There are three different ways you can find out about open houses during any given week. They are:
- Real estate portals such as realestate.com.au and domain.com.au
- Request to be added to our open home alert
- Saturday’s Illawarra Mercury Real Estate Liftout
Asking price versus selling price
Have a look around to see not only what is on the market, but also what they are asking for. You should remember that the asking price could be different to the sold price. Don’t base your pricing research on what they’re asking for, but rather what the properties are actually selling for, as that is what buyers are paying for homes at that particular point in time.
One of the dangers of over pricing your property is it can then sit on the market too long, causing people to ask what is wrong with it. This method can not only reduce its value but also increase your costs in having it on the market for an extended period of time. The Time On Market vs Price rule has recognised that the longer a property stays on the market, the lower the expected chance to achieve a great sales result.
However, you also don’t want to go the other way and price your property too low. This could be cheating you out of thousands of dollars and affecting the quality of your next home purchase.
Next steps for pricing your home to sell
After completing all this research, you will have your own knowledge on where your property pricing sits in the current market. This means when you speak to an agent, you will be fully informed and understand whether the price they are giving you is merely to gain a listing for themselves, or to actually sell your property.
If you’re ready to discover the secrets to being ready to sell your home download our free checklist – Insider Secrets To Being Ready To Sell.
YES, DOWNLOAD MY CHECKLIST
I hope that has helped you today, but if you have any questions whatsoever I’d love to talk to you. My number is 04 26 264 771 and I look forward to talking to you soon.
If you have any family or friends that might benefit from real estate guidance, please feel free to pass on my details or share this link. I’d love to be able to help.
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