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.
We recommend setting the buyer enquiry level at 5% below your desired selling range, and being prepared to negotiate from this level.
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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