Pricing Your Property
A focused learning module to guide you step-by-step on your selling journey.
Setting the right price is crucial for selling your property quickly and at the best value. Here's what you need to know about pricing your property.
1. Understanding Market Valuations
A market valuation is an estimate of what your property is worth based on recent sales of similar properties in your area. Estate agents typically provide a Comparative Market Analysis (CMA) that shows:
- Recent sales of similar properties in your suburb
- Current listings of comparable properties
- Market trends in your area
- Your property's unique features and condition
2. Factors That Affect Property Value
Key Value Drivers
- Location: Proximity to schools, shopping centers, and transport
- Size: Square meters, number of bedrooms and bathrooms
- Condition: Age, maintenance, and renovations
- Features: Pool, garden, security, parking
- Market Conditions: Supply and demand in your area
3. Pricing Strategies
Competitive Pricing
Price at or slightly below market value to attract multiple offers and create competition among buyers.
Premium Pricing
Price above market value if your property has unique features or is in exceptional condition. Be prepared for longer selling times.
4. Common Pricing Mistakes
- Overpricing: Properties priced too high sit on the market longer and may sell for less than market value
- Emotional Pricing: Basing price on what you need rather than market value
- Ignoring Market Conditions: Not adjusting for current market trends
- Not Getting Multiple Valuations: Always get at least 2-3 valuations from different agents
Toolkit
Interactive resources at your fingertips
Essential resources, templates, and checklists to help you on your home buying journey. Click View to explore each resource in detail.
Property Pricing Checklist
ChecklistEssential steps and factors to consider when pricing your property
Valuation Comparison Template
TemplateTemplate to compare valuations from different agents