period shortly after a property comes on the market
is usually the time of greatest interest and most
inquiry, and it is critical that a property be correctly
priced when it is first listed. Houses that sell quickly,
and usually for their optimum value, are those that
have been priced correctly at the beginning of the
marketing campaign. It is no good saying "lets try
it at a higher price initially and then come down
if it doesn't sell". Good buyers could be lost, maybe
If you miss this initial opportunity you not only
run the risk of being overlooked by future buyers
who may be concerned about why your house hasn't sold,
but also run the risk of having to sell further down
the track at a price below the true market value.
is known that some real estate agents promise to get
a high price for your home – this is known as buying
the listing. Unfortunately this can be a disservice
to vendors because if the property does not sell buyers
become aware of the lengthy market exposure and usually
attribute it to over pricing. Buyers educate themselves
with market comparables. They avoid over priced homes
and look elsewhere.
valuations are intended to value the city for rating
purposes and are now known as Rating Valuations. They
are not marketing valuations. They are carried out
at three yearly intervals and are based on average
values for your street.
usually have more invested in a home than the owner
and if a buyer needs a high loan to purchase the property,
the sale could be in jeopardy if the Bank's valuation
does not match the purchase price.
estate sales people get paid only when they sell houses.
If a property is considered to be over priced (and
unlikely to sell) it may get lower exposure to potential
buyers – or, and worse, it may highlight that another
property represents better value for money.