Selling options

Generally, we like to have a price range on every property. Some agents use ‘no price’ trickery that alienates buyers and confuses people. Other ‘old-school’ agents will use a fixed price method which in our opinion leads to a lower sale price. We like to view pricing as flexible. If there is strong interest, we will increase the price. If there isn’t, it can be lowered. Don’t stress too much about the asking price until you are ready to hit the market. Concentrate on the strategy the agent is going to use.

No price selling.

Such as Market Preview, Price on application, Express Sale or Priority Sale:

• The property is advertised without a listed price.
• Agents often claim that this strategy generates more online views and inquiries, including from buyers with lower budgets who might "stretch" once they see how great the property is.
• This approach is often used by inexperienced agents who either don’t know the price or are reluctant to give you their honest opinion. It’s easier for an agent to say, "Let’s let the buyers tell us what they think it’s worth."
• Buyers universally hate this method. Research from realestate.com.au and Domain shows that a significant number of buyers skip over properties with no listed price, leading to fewer inspections and, often, a lower sale price.
• We question why you’d choose a strategy that turns off your potential buyers.

Fixed price.

• Often preferred by traditional agents—those who focus on quick and easy listings.
• Commonly used as a strategy to "buy your listing"—"Let’s start at $10,000,000 and see where it takes us!"
• The idea is to set a higher price than what the market will support, hoping buyers will make lower offers, with the price eventually settling somewhere below the initial figure.
• While this may sound appealing in theory, overpricing tends to result in fewer inspections. Less buyer interest leads to less competition, which drives the price down. It’s basic negotiation 101.
• Typically, after a few weeks, the agent will start pressuring you to reduce the price.
• In our view, this approach is a lazy way to sell.

Price range selling.

• If you believe your property is valued between $850,000 and $900,000, the advertise it as such.
• The lower price will attract buyers, but most will understand that your expectation is closer to the top of the range (and that’s always our goal).
• Keep in mind that NSW Fair Trading regulations require the advertised price to be no more than 10% higher than the lower end of the range. For example, advertising $850,000 - $950,000 is not allowed.
• Our goal is to perfect the property’s presentation, market it effectively, set a fair price, and let competition drive the final price upwards.
• While there is an upper limit to the range, buyers may offer above it if they feel the property justifies a higher price. If competition intensifies, we may suggest increasing the guide price as the campaign evolves.
• We believe this approach (in most cases) is the best way to achieve a premium sale price.

Auction.

• A growingly popular selling method where your reserve price ensures protection.
• A detailed 4-week program that requires extensive communication between the agent and the seller.
• While auctions can intimidate buyers, they offer a transparent sales process where all details are openly shared.
• The fear of an auction often prompts buyers to make strong offers before the event.
• Provides the flexibility to sell before the auction or on auction day; however, if the reserve isn’t met on the day, success may be limited.
• Requires more skill from the agent than it might appear. A skilled auctioneer is essential, but ensuring all potential buyers attend and are ready to bid is crucial.
• We believe auctions can secure the highest price, but they carry inherent risks.
• If there’s limited interest, meeting the reserve price could be challenging.
• We’re passionate about auctions, but we understand they’re not for everyone. They can be stressful, so we won’t pressure you into choosing one like some agents might.
• Market conditions, property location, and price range are important factors, and we’re happy to provide tailored advice.