Pricing the Impossible: The Honest Approach to Selling a Rare Listing
Every agent dreams of landing a “unicorn” listing—that rare property in a tightly held neighborhood. But these dream listings pose the toughest question of all:
The seller asks the question that defines your professionalism: “How much is my property worth?”
In unique cases—a neighborhood with no transactions for years, no listings on property portals, and no recent official data—the standard shortcuts fail. At that point, guessing is not professionalism.
The Professional Mandate: Why You Mustn't Guess
When the market provides zero reliable data, a professional agent’s duty is to protect the client’s financial interest with honesty and accuracy, not sound confident.
You must have the courage to tell the seller:
“My job is to sell your property at its maximum achievable value. To do that, the price must be based on objective data, not speculation. For your property, there are no comparables—so we need professional validation.”
Here’s why guessing is a disservice to your client:
- It’s Unprofessional: Using outdated records or unrelated properties as benchmarks is risky. You become an amateur guesser, not a trusted advisor.
- It Harms the Listing: Overpricing wastes crucial exposure time, and underpricing loses money. Either way, the seller loses.
- Only Experts Can Validate: When no market evidence exists, only a Registered Valuer (RV) has the legal and technical expertise to derive a defensible market value. Valuers apply structured methods, supported by national standards, ensuring the price holds up to scrutiny.
The Only Solution: Consult the Expert
For rare listings, a valuer’s professional input is the best way to anchor your pricing strategy. This doesn't always require a formal, costly valuation report; an indication of value from a Registered Valuer (RV) is often enough to guide both you and the seller.
Advising the seller to get this indicative figure demonstrates your commitment to:
- Protecting the property’s market integrity,
- Establishing a credible reference point, and
- Avoiding speculative pricing that could damage buyer trust.
Presenting the Pricing Strategy
Once the valuer provides the informal verbal indicative value, you can give the seller two clear options:
- Formal Valuation: Proceed with a full report if they need an official document to confirm the market value as the indicative value may not be accurate.
- Practical Pricing: Use the indicative value as a strong professional baseline, then set the asking price slightly above it to test buyer demand and market feedback.
This approach allows you to position the listing confidently while maintaining total transparency. If enquiries are strong, you've proven the market can absorb a higher price. If the response is slow, you can adjust strategically—all without losing credibility.
Integrity Creates Trust—and Long-Term Clients
When you admit, “There’s no data to guess from—we’ll need a valuer’s input,” you’re not showing uncertainty; you’re showing professionalism. You’re proving that you won’t play with someone’s biggest investment for the sake of a listing.
In a market where anyone can post a number on a portal, real professionals distinguish themselves by knowing when not to.
So the next time you face an impossible pricing question—don’t guess. Don’t crowdsource. Don’t bluff.
Instead, call your valuer friend. They'll give you the insight you need, and your seller will thank you for your honesty.
