Ask Greg – A big difference in sale price estimates

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Greg Trembath answers your real estate questions.

Q: My husband has a job transfer, so we’ve decided to sell our home. We have spoken to a few agents but are amazed (and confused) by the difference in the sale price estimates. The agent we purchased through has given us the lowest price. We really like them, but how can we say no to the extra money?

It sounds like you need to do some more homework before selecting your agent and setting your price.

Real estate agents are required to use evidence of recent sales of similar properties when providing estimates. You don’t want to pin your hopes on one good sale price if similar properties are consistently selling at a lower price.

Find out which agent has recently sold the most properties similar to yours and talk to them again. That agent is likely to have a better idea of what buyers in today’s market will be prepared to pay for your home. He/she will also know how competitive your price bracket is, or better still, have potential buyers ready to move. There’s no point listing your home with the agent quoting the highest sale price if there’s no rapport between you – teamwork is an important part of the process.

If after doing your homework it does look like the agent you purchased through has been conservative with their estimate, have another meeting and discuss your findings.

All good agents will work to get the owners the maximum price possible, but a sale price estimate that sounds ‘too good to be true’ is often just that.

Answers are general comment and readers should always seek their own independent professional advice.

Send your real estate questions to

Greg Trembath is Co-Principal at Laing+Simmons Port Macquarie
Licensed Real Estate Agent – Licensed Auctioneer.

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