Pricing your Property

Pricing Options

When considering a major decision such as how to market your property there are many different factors to take into account.

In the current market there are five main methods we use to find the best buyers for our vendors and each has their place:

• A Fixed Price Marketing Plan
• By Negotiation Plan
• By Auction Plan
• By Tender
• or Buyers From

A Fixed Price Marketing Plan

Setting an accurate asking price is a difficult task and cannot be taken lightly. To price the property accurately we need to survey current market trends and ascertain what might be the highest price to be gained. Pricing accurately is one of the hardest tasks in real estate because ultimately the price is what the buyer will pay and you the owner will accept, not what we say, nor a percentage above GV, nor sometimes a valuation.  Basing prices on comparison is an assessment only, as no other property is exactly like yours.  That is why you see a number of homes marketed in the early stages with no price attached. The emotion attached with a home sale can result in prices achieved that are simply hard to predict.

By Negotiation Plan

Sometimes the best approach is to find all the buyers and sell to the person prepared to pay the most. It can be a way to "test" the market. In this instance we do not price the home. Instead we discuss with you what the property will probably sell for, so that when offers come in we know if they are fair or better. This is actually similar to an Auction, but can confuse the buyers as they do not know what time frame they are working towards. It suits owners who do not like Auction but want all the benefits of an Auction without its pitfalls, ie you do not have to set a reserve, but can leave the home "sitting ". If the property does not sell we often then price the property. We are able to assess a more accurate price as we have had feedback from the market place. Often we do not price a home in the first two weeks.

By Auction Plan

An Auction provides you with a high profile marketing campaign. Buyers have a predetermined date to work towards allowing them to prepare. The objective is to obtain the best price in a controlled time frame with the least inconvenience and fuss to you. Offers can be forthcoming before Auction, at Auction and after Auction.

Auctions work well in a rising market or when there are two or more buyers interested. Your salesperson(s) will have a good idea of who is looking and whether this should be an Auction property. Competition always drives price.

Further, it is a great method if you have another property that you would like to buy and need to sell in a short time frame.

By Tender

A Tender is similar to an Auction, but instead of purchasers bidding upwards, the Tenderer places their best offer forward. It is a very private and confidential method of sale. You have the right to accept or reject any offer and we usually have an acceptance time frame allowing you up to one week to decide if you will take any offers.

Buyers From

When several parties express an interest in a property this is an extremely effective way to sell and is becoming a favoured choice of many agent and seller alike.  It does give a bottom guideline, but does not mean that this is the price, especially with competition, that the home will ultimately sell for. Some sellers simply want to give the buyers a "guideline" without putting a ceiling on the value that they might get.