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Getting the Price Right

Getting the Price Right

Whether buying or selling, trying to achieve the ‘right price’ can be stressful, especially as for many of us our house is our most valuable asset and therefore settling on a price we’re comfortable with takes on paramount importance. 

Typically sellers want to get top dollar and buyers want a bargain, but of course both can be disappointed. Given this, whether you’re a buyer or a seller, understanding the value of the property involved will help ensure you are operating from an informed position and have realistic expectations. 

Occasionally buyers will stop at nothing to get the property they want, including paying a premium price. Mostly this is not the case though and if sellers’ price expectations are considered too high then potential buyers will pursue other properties they perceive are better value. Alternatively, without adequate market research, properties can sell for a lot less than their real value, potentially negatively impacting the sellers’ next move. 

One way of ensuring you have realistic price expectations is to get a current market appraisal from your local Harcourts sales consultant. They know the area and have access to recent comparable sales data, plus knowledge of similar properties on the market and their price tags. They will also know about nearby and future developments which may affect the value of the property.  

In addition you can research prices of comparative properties on the internet, in local papers and real estate publications, or you could involve a registered valuer. (Don’t forget that council rating values are only an accurate measure for a short period around the date of the last revaluation).

- Mark Forde