Let’s look at how to price my house to sell. One of the biggest mistakes people make when selling a house is getting the pricing wrong.
The worst thing is underselling a house, where it sells quickly and for the asking price. There’s also the risk of marketing it too high, it sits on the market for too long going stale and not selling at all.
Keep reading to learn about How to price your property correctly.
1. Gauge local real estate prices
With real estate look at homes for sale within a 3 – 5 km radius from your home and see what price these homes are. Put into consideration information like
Land size
Home size
Bedrooms
Pool
Age
Condition
Location

If it’s a rural property you may need to do a 10 km radius.
This will show you what properties are currently on the market and would be considered what you would be competing with. As an example. If you hope to sell your property for $2M, but most properties near you are being advertised for $1.6M. then it is most likely your property is not worth $2M unless it has some considerably better things about it, than the others.
You need to realize this will show you the advertised price of each home. Which is not what they have sold for but is a good easy start to get a price estimate for your own home.
2. Use realestate.com.au sold prices to price my property to sell
More accurate information to work out your home price is looking at what has sold.
If you go to realestate.com.au they have a sold section where you can enter your suburb, then filter out property types, and ales dates, and it will show you want recently sold allow you to also see photos of the property to be able to compare it to yours.
3. Use online estimate tools to price your property to sell
I’ve mentioned in another article House Valuation Tools these should almost be illegal. Because while they will give you a very rough estimate of a property value they can be very misleading. So sure have a poke around and have some fun but just don’t rely on them. If I had to choose just one it would be realestate.com.au
RealEstimate.
You search for your property address. You then need to log into your realestate.com.au account or make a free account. Then realestimate will show you information about the property value.
4. Get a real estate appraisal by a real estate agent to understand a value estimate
An easy way is to get a licensed real estate agent to do a sales appraisal. Usually, these are done free of charge as the agent does these in the hope that if you do choose to sell your house you’ll sell through them. You can even ask an agent to do a remote sales appraisal where they don’t even come to your home but just do research online.
WARNING: unfortunately some real estate agents can mislead homeowners and inflate the sale price they might achieve. Either due to experience or even on purpose.
5. Licensed property valuer for a property valuation
Licensed real estate agents are not licensed valuers, so they can only supply you with a sales appraisal. If you would like a property valuation you need to engage a licensed valuer. Valuers have usually a university degree and are far more qualified than a real estate agent to value your property. It’s a myth that licensed valuers undervalued properties. Valuers can do a bank valuation, which can be conservative, or they can do a sales valuation which is what they believe the property will sell for in the current market. Depending on the property size and value this would cost you around $600.
6. Price your property by getting price feedback from buyers in the marketplace for a price estimate
Something we have been doing a lot recently is launching a property for sale for the first 14 days with no price. Then during this time getting feedback from buyers on the price and pricing the property accordingly. Lots of people talk about how they hate seeing properties with no price, but the truth is motivated buyers contact us regardless, in fact usually lots, and it’s only for the first 14 days the property has no price.
7. Auction

Leave the price up to the market. The idea of an auction is if buyers bid at a public auction on your home.
This indicates the current market value of your property at that time.
If the registered bidders bid to a certain level then this is an indication of your property’s value.
Auctions on the Sunshine Coast are often misunderstood. Sellers are still protected by the reserve they set.
Its common sellers might have a service set before the market campaign then before the auction they need to consider reducing to the market based on feedback.
If they don’t the property may pass in and not sell on the day of the auction
Check the market conditions of house prices
This is a common theme with anything related to buying or selling property, but an important one. If the market is slow, you will have to price your property more competitively to sell. You also need excellent marketing and the best real estate agent.
Don’t overprice and don’t underprice your home
Well, it’s quite obvious why you wouldn’t want to underprice your property, but why is it a bad idea to overprice your property? Well, I’ll tell you, properties tend to get the most amount of viewings during the first 2 or 3 weeks of the property being on the market. As the old saying goes, you only get one chance at a first impression, so if your property is overpriced the buyer’s impression of your home is going to be a negative one, and they won’t buy. You want to give buyers a reason to buy, not to walk away, and by overpricing your property you will force away the majority of buyers.
For these reasons, you must do adequate research into all the things we’ve listed today, to obtain an accurate price for your property. We know selling a property can be difficult and stressful, and following our checklist while you have a job and family is extremely difficult and time-consuming. So why not let the team at Asset Agents take some burden off your shoulders and help you out? Feel free to, see what we can do for you.
If you are on the Sunshine Coast Qld and interested in a remote sales appraisal, shoot me your details, and we can get one out to you or contact your local agent they’d be more than happy to help.
Summarising how to price your property correctly
Looking at properties for sale
Look at properties that have sold
Use online estimate tools
Get a real estate agent to do a real estate appraisal
Pay for a licensed valuer.
Get Feedback from buyers about your property.
Auction

Other helpful information about house prices
Byron Miller has over 25 years experience in the real estate industry. A licensed real estate agent in Qld. Byron is based on the Sunshine Coast and sells properties for home owners and property investors .