Find out what motivates a buyer to pay more than market price for your property. This approach can be applied to most types of properties.
When you’re selling your property, you want the premium price, of course. But that’s not always the outcome. So why is that?
To explain this a little bit more, we’ll look at the Olympics and your hundred metre final as an example. The reason why we’re getting world records (at the Olympics) is because the runners have transparency, they have competition. They’re pushing each other and it’s no different when selling a property or your home.
If a buyer submits an offer and they know that they are the only buyer, they’re not going to pay any more than they absolutely have to and that is the problem with using a private treaty as your sales method which is the most common method of sale here in Perth.
The Agent is not allowed to disclose what the other buyer’s offer price is. The Agent can disclose that there is another offer but as a buyer, you don’t know for sure if the Agent is telling the truth or not.
However, if the buyer knows that there are other offers on the table and they know how their offer ranks among the other offers, the lower priced buyer would be more inclined to offer more. With the transparency and the urgency, the fear of missing out kicks in.
To get competition for your home, you need the urgency and that is why my clients, over the last couple of years when the market’s been down and the market’s been up, have been getting premium prices for their properties because we’ve been able to create urgency and competition using transparency.
If you’d like to know more about how that can happen for your property, do get in touch with Perth real estate for sale experts.
Sales Methods That Are Transparent.
As a vendor, you want to sell for a premium price. The best way (regardless of market conditions) to achieve that goal is through competition. To ensure that you get the best possible chance of generating competition, you need urgency and transparency. Click below to learn more about the different sales methods.
Note: This blog was originally published on The Haus Exchange.
Important links:
Home staging in Perth, Western Australia
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