Selling a home: Setting a price

Date: 19 February 2013

How do you decide what price your house should sell for?  As well as using a real estate agent for their opinion, there are several ways of determining what your property is worth in the current market in order to establish a fair price.  Remember, if you are using an agent their fees will be coming off the purchase price.

The main ways to establish a price include:

  • Local, comparable sales
  • E-Valuer
  • Full Market Valuation
  • Rating Valuation

 

 

Local, comparable sales.  One way of establishing a price is to look at comparable market sales that have occurred in your area recently.  Seeing what similar houses in your area have sold for can help you understand the market.  You can easily do this by purchasing Local Sales information.

E-Valuer.  An E-Valuer will give you an instant estimate of your properties current market value, using comparable market sales.  

Full Market Valuation.  A Full Market Valuation will give you a current market value, and is completed by a Registered Valuer.  It involves a full inspection of the property as well as analysis of local sales.

Rating Valuation.  A Rating Valuation can also be used to establish a price at which to sell.  As Rating Valuations are typically only done every three years, if the market has moved it can be out of date.   

Read more about different valuation types.

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