Marketing Without a Price
A no price strategy places a greater emphasis on the property and typically attracts a greater number of potential buyers, offering premium opportunities and a higher rate of success within a shorter time frame. No price marketing options include Auction, Tender and By Negotiation.
Selling by Negotiation removes the need for you to set a sale price for your property instead placing the decision in the hands of the buyers. An offer for your property can be received at anytime. You can accept, decline, or negotiate with the prospective purchaser. The most important benefit of selling by negotiation is that this process removes the risk of under-pricing.
A no price strategy would allow us to launch your property to the market and gather feedback and opinion from interested buyers. After the initial 10 day period we would have enough information to enable you to make the right decision about the method of sale moving forward.
Pricing Your Property
This is a big question. Price your property too low and you miss out on the best return. Too high and you miss out on the potential buyers.
Realistically priced properties generate more enquiries, which mean higher levels of interest and occasionally an increased competition between buyers. Pricing your property can give buyers the flexibility to make conditional offers if this is of interest to you.
You may have met with other agents and have been promised an unrealistically high sales price. These promises can result in the property staying on the market for a longer time, with an eventual sale price reached that is below actual market value. The time spent researching market condition is invaluable here. It also helps to avoid putting any barriers in the way of potential buyers. One such barrier may be price – as many potential buyers can disregard properties based on price alone. Setting a realistic price is crucial, and this will need to be determined in conjunction with your Harcourts sales consultant.
Selling by Auction is the preferred option for many. This is because your property is generally on the market for a shorter time, and has the highest sales rate. An intensive, high profile auction marketing program attracts genuinely interested, cash-in-hand buyers. These buyers are focused on the maximum price they’ll pay not how low their offer should be. Combined with the excitement of the big day it’s this natural level of competition that helps establish the highest possible price on the day. We’ll assist you in setting the terms, conditions and auction day deadline. Also, the property needs to be only opened for buyer viewing at times that best suit you, so the auction process is regarded as the least disruptive method of selling.
Some of the reasons for selling by auction include:
- Builds urgency and a purchase deadline amongst buyers
- Creates a competitive transparent purchasing environment
- Finds a true ‘cash’ buyer with no conditions
- Provides complete control for seller – you set the terms
- Option of accepting offers prior to auction
- Removes risk of under or over pricing
- Focus is on the property and not the Price.