How to Know if an Agent is Overpricing Your Home.

One of the biggest mistakes sellers make when choosing a real estate agent is selecting the agent who gives them the highest price estimate. While it may sound exciting to hear a larger figure, overpricing a property can often do more harm than good.

Before meeting with any agent, it’s important to do your own research so you have a realistic understanding of where your property sits in the current market.

A great place to start is by looking at recently sold properties on realestate.com.au. Focus on homes in your suburb that are genuinely comparable to yours. Look for properties with similar:

• Number of bedrooms

• Bathrooms

• Living areas

• Garage spaces

• Land size

• Alfresco or outdoor entertaining areas

• Shedding or additional features

  
  

This will help give you a realistic ballpark figure of what buyers are currently paying for homes similar to yours.

It’s also important to remove emotion from the process. Many homeowners naturally place additional value on their property because of the memories, time, and money they have invested into it. Unfortunately, buyers don’t buy based on your emotional attachment — they buy based on value compared to other properties available in the market.

Another important point is to focus on recently sold results, not just what is currently listed online. A property’s advertised price does not always reflect its true market value. There can be many reasons why a property is priced the way it is, including:

• A deceased estate

• Divorce or separation

• Financial stress or urgency to sell

• Bank repossession

• Poor pricing strategy from the agent

• A seller testing the market

  
  

Recently sold properties provide real evidence of what buyers have actually been willing to pay in today’s market.

Another reason it’s important to do your own research is because some agents will intentionally overprice a property to win your business. In a competitive listing presentation, certain agents may quote a higher figure because they know sellers are naturally drawn to the highest price estimate. Some agents may lack confidence competing against other agents on strategy, marketing, negotiation skills, or track record, so they rely on giving an inflated figure to secure the listing. Others simply tell owners what they want to hear in the hope of getting a signed authority on the spot.

While hearing a higher number can feel exciting, it’s important to ask whether the price is genuinely supported by comparable sales evidence. An unrealistic price can often lead to reduced buyer interest, longer days on market, fewer inspections, and price reductions later on.

In many cases, properties that are priced correctly from the beginning can create stronger competition and achieve a better final result. It is also important not to underquote.

Choosing the right agent is not about who promises the highest number — it’s about finding someone who understands the market, has a strong strategy, and can back their price recommendation with real comparable sales evidence.

At Ballarat Agent Match, we help connect sellers with experienced local agents who understand the Ballarat market and can provide honest, evidence-based advice to help you achieve the best possible outcome.