It’s value first now for sales
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.