It’s value first now for sales

The Weekend Post - Real Estate - - Front Page -

THE first quar­ter of 2016 has shown buy­ers are plac­ing value ahead of lo­ca­tion in their pur­chases. It’s no longer about “lo­ca­tion, lo­ca­tion, lo­ca­tion”; buy­ers are in­creas­ingly will­ing to look be­yond tra­di­tion­ally pop­u­lar sub­urbs in search for value. Re­cently, we saw a large turnout of buy­ers for a Brins­mead prop­erty but three of the most likely buy­ers chose prop­er­ties in Red­lynch and ar­eas fur­ther to the south in­stead. Sell­ers who want to se­cure a quick re­sult need to be mind­ful of how they price their prop­er­ties. Today’s buy­ers have so much in­for­ma­tion avail­able to them they can quickly de­ter­mine mar­ket value. In this situation, a no-price mar­ket­ing strat­egy works well. An ad­ver­tised price – es­pe­cially one that is push­ing the bound­aries of mar­ket ex­pec­ta­tions – can turn off buy­ers, re­sult­ing in the prop­erty sit­ting un­sold for an ex­tended pe­riod. The no-price strat­egy en­gages buy­ers and, through feed­back, the seller can get a true un­der­stand­ing of where the prop­erty is po­si­tioned in the mar­ket. It’s also value that is at­tract­ing “dou­ble in­come, no kids” buy­ers from West­ern Aus­tralia, the North­ern Ter­ri­tory and Mel­bourne to Cairns. Sell­ers need to meet the mar­ket.

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