There are several factors to take into consideration but it tends to come down to the price someone is willing to pay at any one time. The best indicator of value is what similar properties have recently sold for and similar properties that are currently on the market. Mortgage rates, economic stability and how much property is available all contribute to the supply and demand price expectation.
There isn’t one. All sales methods have merits and pitfalls. You may have personal feelings around this and your professional sales consultant will have a recommendation on which method will suit your requirements based on a number of factors. For more information on sales methods click here.
A real estate sales consultant is an expert in their field the same way your lawyer, accountant and banker are. They work in the industry and understand the market. They are qualified and constantly upgrading their skill set to comply with client needs. They have a enormous access to information and the experience to be able to aid you in maximising the value of your property.
There is a lot of information out there available for first home buyers but it really can’t replace having someone you trust to ask questions of. Your sales consultant will be only to happy to help walk you through the process. Has a starting point check out our “Guide to buying your first home”.
A common practice in real estate and now an industry requirement is for a sales consultant to give you an estimated Current Market Appraisal,(CMA) of what your house is worth. This should use examples of similar properties to yours that have sold recently as well as what is on the market currently. The highest appraisal does not translate to the highest sales price, often quite the opposite. The most informed appraisal will result in the highest sales price as it tends to be delivered from the sales consultant with the greatest understanding of the market.