Have you recently decided to put your property up for sale? If so, you’d likely have already begun the process of hunting down the best realtor in town and hiring them. And this won’t be that easy. From reviewing countless resumes to creating a shortlist of potential candidates, find the right real estate agent to sell your house can be quite a chore. But once you’ve finally found them and signed the listing agreement, it may feel like all your worries are over. However, the work doesn’t end there.
The next big task that both you and your agent will need to take on is to determine the value of your property. Be that as it may, many people overlook this task, preferring to operate with a rough estimate of their property’s value as they interact with buyers; and this usually doesn’t bode well for them because of two main reasons:
- Reason Number one: If their asking price is set too high and not properly justified, this will likely repel potential buyers.
- Reason Number two: however, if the property is priced too low, this will leave thousands of dollars on the negotiating table.
As such, it’s important to make sure that your property is properly valued from the very beginning. This job is absolutely vital and must be done early on in the home sale process if you’d like to set a balanced asking price that will both attract buyers while providing you with the maximum sale price possible.
In this blog, we are going to give you a few tips that will help you value your property in Sydney 2021.
1. Conduct a CMA
The first thing that you can do to determine an accurate market value for your property is to conduct a CMA (Comparative Market Analysis). While this may initially sound quite complicated, a CMA is in essence a comparison. You’ll compare the asking and selling prices of recently sold comparables (houses that are similar to yours) within your local area and use those values to determine a close estimate for the value of your house.
2. Hire a Professional Valuer
While CMA’s can be quite effective in determining the values of properties, they’re still estimates. As such, if you’d like to come up with a precise value that’s officially certified and that can be professionally justified to any buyers you negotiate with, you should hire a valuer instead.
At Property Point, we specialise in property valuations Sydney and real estate transactions of all kinds. By keeping our fingers on the pulse of the real estate market in Australia, we’re able to come up with balanced property valuations that are professionally accredited. So reach out to our company today if you’d like to get your property valued by only the best.