Property appraisals serve as a guide for vendor expectations rather than setting definitive market prices. They reflect recent sales data compared to your property to establish a likely price range, not a guaranteed sale price. Appraisals use comparable recent sales to determine where a property should be positioned in the market, helping vendors set realistic asking prices and ensuring properties appear in relevant buyer search ranges on platforms like Trade Me.
Why It Matters
In a competitive listing environment, some real estate agencies may be tempted to inflate pricing to secure a listing. While this can sound appealing upfront, it often leads to unrealistic expectations and poor market engagement once the property launches. Overpricing can result in extended time on market and ultimately lower sale prices. Positioning the pricing correctly from the outset often generates stronger buyer interest and can create competitive multi-offer situations.
The Reality
We have encountered this situation before, where a vendor chose to list with another agency that marketed the property at a significantly higher price. Three months later, the property sold within the price range presented in our appraisal.
What could have been
Had the vendor followed Irelands’ recommended pricing strategy, they likely would have experienced stronger early buyer interest, which could have led to a faster sale and potentially multiple offers — perhaps driving the final price even higher. Correct market positioning from the beginning captures buyer interest early, creating competition that can push prices up, rather than watching momentum fade over months of overpricing.
The bottom line
Accurate, evidence-based appraisals — not inflated promises — position properties for genuine buyer demand and better outcomes. Strategic pricing from day one remains one of the most powerful tools in achieving the best possible result.
If you’re interested in finding out more, get in touch with the team at Irelands by clicking this link: Christchurch Property Appraisal | Irelands