Hi guys, today we’re talking about what price to display to buyers. You’ve sorted out what your home is worth, and what you want to sell it for, but you’re not sure what price to display. Let’s look at some strategies
One common strategy is the “price range” – this would be a price like “$650-$700 thousand”. This idea behind this one is that it will attract buyers looking in a lower price range, who will then fall in love with your home, and increase their budget to buy it. The main problem with this approach is that you’re likely to waste your time on buyers who really can’t afford your home.
Now what about the related “Offers from” strategy? Well the problem with this one is that once buyers see the “from” price, that figure will be stuck in their head. Generally, they’ll offer the “from” amount, or much less than that so this strategy should really only be used when you have lots of buyers competing for your house.
A third strategy is the “hidden price”. This means showing something like “Price on Application” instead of any price information. The theory is that you’ll get more enquiry by doing this as the price won’t be turning people off. Keep in mind that you’re also quite likely to deter some people, attract buyers who can’t afford your property, and irritate buyers the buyers who can, which isn’t a great way to introduce them to your property.. This strategy is really only useful for very unique properties.
So what pricing should you display? It’s a novel idea, but we recommend displaying the price that you want to sell your property for (or a price that’s within 10% of that figure).
- In short
- Keep it simple
- Make your property easy to buy
- Don’t confuse, manipulate, or annoy buyers
Hit us with a like if this video was helpful, or let us know in the comments below if there’s still something you’re confused about. As always, visit PropertyNow.com.au for more detailed and up to date information.