Selling price

[freerange]

First time selling for me so a bit of a newbie

What do you do when RE agents valuations come back with huge variations between each other, around 20+%. There hasnt been any comparable sales in the area for a long time even then the houses were old and crappy where mine has been reno'd.


Looking to get it in the market soon just a little bit lost, all i know is what i need out of it which they have all been above so pretty happy about that

 

[Nick Valsamis]

The appraisal they do is really just their opinion. The large variance in price is most likely because there hasn't been any comparable sales recently.

So you are left to figure out what the market will pay. Next best thing to do is look at properties that are as close as possible in features, and work out what the addition is worth and try to price it that way.

Unless you really know the market, it's possible that some agents may be over quoting you. Instead focus on selecting the best one for the job by looking at previous sales, area knowledge, marketing strategy etc.

 

[marg4000]

Average them out.

Some agents "buy listings" by giving the owner unrealistic expectations. Once they have you signed up they discover that "the market is telling us...."

Ask each agent to justify their estimate and show you how they arrived at their figure. A good agent will probably do this in the first place without being asked.
Marg

 

[Big Will]

Also ask how they market a property and why they do it that way.

End of the day an agent giving you a price is meaningless, hence why you are getting 20% difference.

Find one you can trust and the way they will market and negotiate your property.

 

[esh]

Go with the agent that you believe will work hard with you and one that you can trust and know they will have the right agenda for you

 

[jrc]

Get a valuation and then pick the best agent

 

[Scott No Mates]

Get a valuation. Select the agent who you believe will be the most effective.

Critique their selection of sales method and marketing strategy.

Do they push auctions? What is their success rate at auction & post auction? What is the average days on market for the current properties for the agency? Why haven't the properties with longer days on market sold?

Consider what you think that your house is worth and assess it against what the agents have told you. How far apart are you? In which direction?

What will you accept for the place? Your figure or the agent's?

Are you after a quick sale or going to hang out forever to achieve the dream price?