Residential, Commercial, Retail & Industrial
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
How the Wong's missed out on an
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
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
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