Toongabbie Property Sale Case Study

By: Elders Real Estate Kings Langley  03-Apr-2014
Keywords: Real Estate, Residential Real Estate, Real Estate Sales

Not many prop­erty own­ers real­ise how much advert­ising a ‘capped’ price or with no price at all can neg­at­ively affect the final sale price of their home. This is the worst prop­erty selling mis­take you can ever make because as you can see in the RealEstate.com.au report below the most amount of interest that a prop­erty gen­er­ates occurs in the first 2 days. After this time enquires starts to drop significantly. A com­mon strategy sug­ges­ted by some agents is to try at a higher sale price for the first two weeks and then reduce the price in order to rein­vig­or­ate interest if they are not get­ting the response they want. What they are not tak­ing into account is that the best interest your prop­erty receives is in that ini­tial two week period. If the prop­erty is mis­rep­res­en­ted whether it be via pri­cing or mar­ket­ing it only serves to ali­en­ate the prop­erty from the mar­ket­place dur­ing a time in which it is receiv­ing max­imum expos­ure which in this instance can be neg­at­ive exposure. The most effect­ive way to sell your home for the highest price pos­sible is by tak­ing advant­age of the max­imum expos­ure exper­i­enced in the first two weeks in order to gen­er­ate mass interest in your home and max­im­ise buyer com­pet­i­tion. What most own­ers think when they hear this is Auc­tion which for some is quite daunt­ing. It is for this very reason we have devised the ‘Offers Over’ mar­ket­ing strategy which takes all the best ele­ments of Auc­tion while elim­in­at­ing the bar­ri­ers and stig­mas usu­ally asso­ci­ated with the Auc­tion process. The ‘offers over’ pri­cing strategy is used to attract mass interest in your home by advert­ising at a start­ing fig­ure that com­mu­nic­ates to buy­ers that the owner is expect­ing a fig­ure above that level. This price point is also chosen to be com­pet­it­ive with other prop­er­ties cur­rently on the mar­ket and allows your prop­erty to be the home buy­ers choose to inspect over what else is avail­able on the market. The bene­fits of this method is that it allows the owner and their agent to pre-qualify buy­ers by set­ting a min­imum price that is very com­pet­it­ive in com­par­ison to other prop­er­ties on the mar­ket­place as they know that the buy­ers who inspect have budgets above the advert­ised price level. This method also comes with a safety net as unlike an Auc­tion the owner is not required to set a ‘reserve price’ as being a private treaty sale they still have the final say on the price that they are will­ing accept. A major bene­fit of this method is there is no max­imum indic­a­tion of the price which allows effect­ive nego­ti­ation to push the price up as far as pos­sible without a ceil­ing to limit the figure. Below is a prime example of how the ‘Offers Over’ mar­ket­ing strategy is able to achieve the best pos­sible price within the shortest pos­sible time. - See more at: http://realestatesevenhillsnews.com.au/2013/12/toongabbie-property-sale-case-study/

Keywords: Australian Real Estate Kings Langley, Mar­ket­ing Strategy, Real Estate, Real Estate Sales, Residential Real Estate,

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