Pre-Sale Advice

(for Residential, Commercial, Retail & Industrial properties)

When selling your property, pricing it too low has an obvious cost. But pricing it too high can also be costly. An overpriced property could be left unsold for many montyhs or even years. A valuation of your property by an independent Certified Practicing Valuer will help you set a suitable asking price for your property. You could also get advice on cost effective property improvements which could increase your selling price or achieve a much faster sale. 

How the Wong's missed out on an extra $50,000

Now that their three children no longer lived with them Mr and Mrs K M Wong had decided to downsize from their two storey, four bedroom home in Doncaster, Victoria to a low maintenance two bedroom unit in the same suburb. 

Mr Wong was sure about the asking price he wanted for the family home. So he decided to be a FSBO ("For Sale By Owner"). With the help of his youngest daughter he advertised the property in the local newspapers and several real estate websites. His asking price was $800,000.     

Within three days of his first advertisement appearing (and even before his advertisement in the local newspaper advertisement commenced), he received four phone calls followed by four appointments for inspections. The first middle age couple who walked through the property made an immediate offer of $750,000. Mr Wong took down their contact details and thanked them. Within an hour after that the second family who inspected the property agreed to his asking price of $800,000. They gave the impression that they will be inspecting two other properties that afternoon and hence will require an immediate decision from Mr Wong. 

Not wanting to risk missing this offer which afterall meets his asking price, Mr Wong accepted a deposit and issued a receipt for the amount.

Out of curiousity, Mr Wong did not cancel the third and fourth appointments. The couple with their teenage son in the third appointment could not contain their excitement and offerred $850,000. Whilst fuming with regret Mr Wong got a phone call from the last person who requested to postpone the appointemnt to the next day.  

If only he had obtained independent advice from a Certified Practicing Valuer, who because of his/her training, experience and knowledge of the market would have provided an indication of what Mr Wong could have asked for his family home, which in all likelihood would have been closer to $850,000 or higher.