Method of Sale
Would you respond to an advertisement with no price?
How your property's price is promoted is very important. We believe up to 80% of potential enquiry is lost because buyers don't respond to ‘No Price' advertising.
4 guaranteed ways to turn away buyers:
The biggest mistakes by real estate agents are often related to how a property is promoted:
- Hiding the price - keeps the buyer away.
- Bait advertising - attracts the bargain hunters.
- Price banding - limits the price.
- Rateable value - confusing.
The Benefits of Buyer Enquiry Pricing vs. ‘No Price' Advertising
- Pre-qualifies genuine buyers and eliminates time-wasters and bargain hunters.
- Pricing starts below desired market price to attract all potential buyers.
- There is generally a much higher level of enquiry, which usually leads to more offers.
- There is no ceiling on the price your home could fetch - very important.
Purchasers universally appreciate a price guide, it eliminates costs such as builder's reports, on properties well in excess of their price range and it saves them time looking at property’s they cannot afford.
We recommend setting the buyer enquiry level at the bottom of the range of your price expectations. To satisfy the Commerce Commission and the REAA this should be at a level you would seriously consider once your property had been fully exposed to the market.
What are the options?
- Closed Tender - Fixed time and fixed date.
- Private Treaty - Fantastic option if the correct asking price can be established.
- Auction - Dangerous, unless you have multiple buyers guaranteed to compete.
- By Negotiation - Offers can be submitted from the commencement of the marketing programme preventing buyers losing interest, used in conjunction with a Buyer Enquiry to achieve maximum price.
Looking at Selling?
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