Should you advertise your property with a price?
Hi Everyone, Peter from Maison Real Estate
A question I am often asked these days is “when selling my home should I put a price on my property or not?”.
Well, the answer’s simple, unless you’re taking your property to auction, yes you should put a price or a price indication on your property.
I say this because realestate.com.au, Australia’s leading property portal, has buyer research that shows that more than 60% of buyers get frustrated when there’s no price or price indication on a property.
So make it easy for your buyers to see your property and enquire about your property and make offers on your property.
So why would agents recommend that you don’t put a price on your property?
Well, there are a number of reasons for this, but the two most common reasons given publicly is 1. You may receive more than what you think for your property, so if we don’t put a price on it you may receive more, and 2. I want to have as wide a net of buyers as possible.
The real reasons however though are quite different. All agents are looking for potential sellers, and all agents know that most potential sellers are also potential buyers, so they want to capture every possible buyer that they can and then talk to them about selling their property.
So if a buyer is out of your price range and makes an enquiry on the property well then they still have those details they can follow up about selling a property.
Secondly, it enables them to bring what they know are low offers to you. They can do this because they can use phrases such as “well this is the market talking – this isn’t me” and “these are real buyers in the market”.
However the real buyers don’t have really much idea of what you’re looking for!
So the best thing to do is to put a price on your property – it makes it easier for you, it makes it easier for the buyers, hence making it easier to sell.
This is Peter, watch out for more videos on how to sell your property, they’ll be loaded periodically from time to time here on this site.
I look forward to meeting you in person, thanks very much.