It’s simple and it’s smart
Once buyers recognise a potentially suitable property, the key priority is to know if it is within their budget. Methods like auctions, “contact agent”, “expressions of interest”, “offers above…” simply make it difficult to do this. Anecdotal evidence in speaking with hundreds of buyers suggests this is extremely frustrating, wastes time and effort, and can put buyers on an unnecessary emotional rollercoaster of having their hopes and dreams raised, only to be squashed. Marketing studies have shown enquiry levels can decrease by 50% when a price is not displayed. Even “price range” campaigns are a nightmare for many buyers, as they often find out that the properties are not actually for sale at certain levels within their advertised range.
At Wilsons, we advise almost all of our sellers to market their properties with a stated asking price – a price at which the sellers are happy to sell the property. It’s simple and it’s smart. It attracts buyers rather than repelling them. And it makes it a whole lot easier for buyers to buy.
A price can be repositioned at any stage of a campaign in consultation with our sellers, if either their situation or expectations change. A property may also be sold above its asking price. This is not to say that it wasn’t available at its asking price, but just as a buyer is at liberty to offer less, a seller is at liberty to accept more if it is offered to them.
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