How to Value Your Property to Sell?

 By: Jay A. Smith
Critical to selling house privately is setting the value of your property to that of the market. Setting the value of your property too low and you'll be assured of a fast sale however you risk doing yourself out of thousands or tens of thousands of dollars by underselling. Peg your property valuation too high to the market and risk missing out selling to prospective buyers who may have purchased if you had positioned your property value correctly. The flow on effect of setting your property valuation too high can cause your property to sit on the market and become stale to buyers, in turn making you despondent and defeated.

Five Tips to Valuing Your Property

1. Research The Market- Excluding economic and market supply and demand factors, property values are generally determined by land size, number of bedrooms, bathrooms, position to services and location. Land size can be a determining factor. By doing a comparative to other similar properties for sale in your geographical location that have similar attributes including land size, number of bedrooms, bathrooms and access to facilities you can begin to see where can position the value of your property.

2. Inspect Current Properties for Sale- Visit up to five open houses that have similar characteristics to your property in the way of land size, bedrooms, bathrooms and location to facilities. Take note of what is good and bad with these properties. Your property, depending what it has to offer to others of similar characteristics will determine your price range to the others.

3. Look At Real Estate Sales History- There is lots of data available to the property owner now in the way of selling house privately history. Simply access this data and again view properties of similar characteristics to yours. You will see trends emerging to what property buyers are paying. This data of previous sales will offer the parameters to work in when setting the value of your property.

4. Property Valuation Services- Selling My House always recommend sourcing and utilizing the services of a professional property valuer. Consult your bank to see who they use. In many cases you'll be able to use the same property valuation services and at the same rate to that the bank. Professional property valuers normally hold formal qualifications and are active in the market which gives them knowledge and understanding. For the size of your investment and peace of mind the couple of hundred dollars is money well spent. If you source a property valuation specialist from a directory ask the question if they are aligned with a real estate agency. You don't want conflict of interested if you are doing a real estate for sale by owner property sale.

5. Property Valuation Tool - Integrating all the above are imperative to positioning your property valuation to market your property for sale. Collating the information of these strategies and recording the results will greatly assist in a snapshot of the market and in turn position the value of your property to that of the market.

The strategy also ensures you are competitive to other properties on the market which in turn will ensure price will not be a barrier to buyers. Take the necessary steps to present your property well and you will be on our way to a successful for sale by owner property sale. To assist in delivering your property valuation Selingmyhouse.com.au has a free download property valuation matrix tool that integrates all of the above tips. Go to property valuation service to access our free download.

An additional benefit in following these 5 simple tips to value your property is you'll be better prepared to negotiating with buyers. You will have developed an understanding to historic trends in property prices, be familiar with current prices, plus have an solid understanding to the quantity and quality of properties available on the market in your sales area, all of which provides powerful information when negotiating your property for sale.
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