Sellers Handbook Market basics The first question you will obviously have to ask is: what price? The best person to answer this is a licensed property valuer. For as little as $200 he/she will accurately assess the likely sale price of your property. We at Owner.com.au strongly recommend obtaining a professional valuation before you list any property for sale. Even with a valuation however you will be more confident of your price if you research the state of the market yourself. It is more important than it at first seems to get the price right. Simply putting a high price to start with and hoping to negotiate down to something more reasonable won't do. In the list of houses available yours will seem too expensive, even if it is better than the others. Conversely, a house priced too low will be sold before it has time to reach the buyer it "fits", who would have paid more. To get the price right you will first have to understand the present market. Are you in a "buyer's market" or a "seller's market"?. A buyer's market will mean a tough job ahead of you and you had better get the price right. You'll see the signs of this 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. The news is good with house prices moving up, few listings and quick sales. In a buyer's market you should price your house competitively and work that bit harder. If you need to sell quickly, offer your house "bargain priced". In a seller's market, however, you can price somewhat above what you consider to be the average price for your home. You can negotiate down to the average if you have to later. However it is recommended that you do not price more than a few percent above a valuation price. So what is the magical average price for my home? Firstly you'll need to compile a list of comparative sales, through materials such as newspapers. File this information you gather under headings such as position, size of house, condition of house, style of house and sold in a buyer or seller market. You will need to make a partly subjective decision on the probable price range. 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 negotiate with them.