Selling your property privately (For Sale By owner) and getting the right price is important. Simply starting with a high price and hoping to negotiate down to something more reasonable will not get your house, apartment or land sold. In the real estate listings available, yours will appear more expensive, even if it is better than the others. Conversely, a house, apartment or land priced too low will be sold before it has time to reach the buyer it "fits", who would have paid more.

Property Market

Information is power: To price your property well in the Australian market, first you will have to research the present market. Are you in a "buyer's market" or a "seller's market"? A buyer's market may mean a tough job ahead of you and you had better get the price right. Typical signs of a buyers market are when there are many houses for sale, most having been listed for a number of months, and house prices are dropping.

If you're in better luck, however, you'll be in a "hot" or seller's market. Houses do not remain listed for long and house prices are moving up. There are also generally less properties available on the market and a greater likelihood of a short sales cycle.

How to Set Your Initial Price:

Private Sales Tip 1: Research & compile a list of comparative house sales, through materials such as newspapers and Internet research. File the information you gather under headings such as suburb, position, size, condition, style and whether sold in a buyers or sellers market.

Private Sales Tip 2: Decide on the probable price range for your property and a reasonable selling price. Subjective does not mean emotional; look at your house as a buyer would, just one choice among many. Remember the price you'll eventually get will depend on who comes along and how well you bargain with them. Pricing requires research and short cuts are not advisable.

Private Sales Tip 3: Decide on the absolute minimum you will accept for your property and make sure all the owners or interested parties agree. This way you will know when to say the final no.

The Eight Essential Private Selling Tips and Techniques.

Buying and selling property is an important process to get right.  Zeroagents has provided the following tips and techniques to assist buyers and sellers with all the processes relating to selling property You can also visit our State Information pages to review any state related issues.

Final Selling Tip

The most important property tip Zeroagents can recommend to anyone considering selling their property privately is to get a professional valuation.

If you are uncertain as to the value of your property, we recommend a professional valuation, which will be worth every cent you may pay. The professional valuation is a completely unbiased assessment of your properties worth. This valuation can then be used to more accurately set your properties selling range. As a property seller you can also reference the valuation document to any potential buyers. Potential buyers can use this document to source finance through their lending institution.

Pricing your property accurately is one of the key elements in ensuring you receive plenty of buyer enquiry, and aids in any negotiation process as a buyer can see the unbiased valuation of your property and will feel comforted that they are getting value as well.

Too many sellers will price their property compared to what other properties are priced at. A professional valuation will be based on what comparative properties actually sell for, not the advertised price.