South-west strat­egy: avoid gim­micks, cre­ate mar­ket cer­tainty

Western Suburbs Weekly - - Liftout: Coastal & Country -

WITH the South-west still ex­pe­ri­enc­ing pop­u­la­tion growth, JMW Real Es­tate prin­ci­pal Joe White is ex­pect­ing the lo­cal mar­ket to show some signs of im­prove­ment in spring.

“Pop­u­la­tion growth un­der­pins the South-west prop­erty mar­ket and tra­di­tion­ally it has been fu­elled by Perth or metropoli­tan res­i­dents look­ing for a sea change,” he said.

“I don’t see any rea­son why this will change; if any­thing tech­nol­ogy, NBN and the air­port may see a greater stim­u­lus for pop­u­la­tion growth rather than a di­min­ished one as, if peo­ple’s jobs are por­ta­ble and they can choose to live where they ‘want to’ rather than ‘have to’, it is likely that more peo­ple would choose to live in the South-west.”

When it came to mar­ket de­mand and sales, Mr White said the range of prop­erty types in his agency’s re­cent sales sug­gested a broad mar­ket.

“Sev­eral re­cent sales where re­sults were achieved quickly paint an in­ter­est­ing pic­ture,” he said. “A three-bed­room, two-bath­room home at 4 Le­n­a­mont Court, Duns­bor­ough was un­der of­fer in 10 days; it was pre­vi­ously listed for auc­tion with an­other agent.

“We re-listed it with a de­clared ask­ing price, went to the mar­ket and had two buy­ers, one of whom paid slightly above the ask­ing price.

“The les­son is that in an un­cer­tain mar­ket, the best thing to do is cre­ate as much cer­tainty as you can with the mar­ket­ing pro­gram, so a de­clared ask­ing price that is com­pet­i­tive, com­bined with qual­ity photos and good in­ter­net cov­er­age and data­base man­age­ment will man­i­fest in an ex­cel­lent re­sult.

“My ad­vice at the mo­ment is to avoid gim­micks like price ranges, ask­ing prices ‘From’, set date sales etc. as all these strate­gies cre­ate un­cer­tainty, which in turn cre­ate frus­tra­tion, and frus­tra­tion in the eyes of a pur­chaser will be taken out on the seller, so it makes sense not to be too cute with your mar­ket­ing strat­egy.”

Mr White said other re­cent ex­am­ples in­cluded four-bed­room, twobath­room 6 The En­clave, Duns­bor­ough, which was un­der of­fer within 24 hours and two lots of va­cant land at 206 Qued­jinup Drive, Qued­jinup went un­der of­fer in 10 days.

“Once again, these prop­er­ties were sold quickly through an ad­her­ence to do­ing the basics well,” he said.

“Qual­ity photos, pre-pre­pared con­tracts, proper data­base man­age­ment where prop­er­ties were re­leased to all pos­si­ble pur­chasers at the out­set to max­imise the com­pe­ti­tion, plus open­ing the mar­ket to all agents via con­junc­tional of­fer­ings in ad­di­tion to our­selves.

“All prop­er­ties were listed at a touch above where we gen­uinely be­lieved they were likely to sell, and they sold within days.”

High­light­ing the range of in­ter­est in the mar­ket, Mr White said 19 Dunn Bay Road, Duns­bor­ough, a 1012sq m du­plex site, was un­der of­fer in two weeks.

“When de­vel­op­ment sites start sell­ing, it is a sure sign that de­vel­op­ers are see­ing a bet­ter fu­ture than they are a past, hence their will­ing­ness to have a bet on what the near-term fu­ture holds,” he said.

Mr White said it was im­por­tant to choose a sell­ing strat­egy that suited the prop­erty, not the agent.

“More than ever be­fore, we are find­ing trans­parency, qual­ity in­for­ma­tion and open­ness are what buy­ers are look­ing for and they are show­ing a will­ing­ness to pay very good prices for all types of prop­erty pro­vid­ing the prop­er­ties are well pre­sented, priced close to mar­ket and all the rel­e­vant in­for­ma­tion is pre­sented so that the risk and guess work is taken out of the buy­ing de­ci­sion,” he said. ■

This Duns­bor­ough home went un­der of­fer in 10 days.

JMW Prin­ci­pal Joe White.

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