As the local leader in real estate servicing the Western suburbs of Brisbane, Ray White Graceville is a full service agency dedicated to providing the highest level of service to both sellers and buyers. Embedded in the culture is an affinity to offer the right advice and information at all times.)
The current market at the moment is inclined towards sellers and it is not uncommon and in fact pretty often agents will say sold above list price or reserve. The strategy and thought processes is get buyers excited and emotionally attached about the property in question and start competing for it. There is a need to let as many people know about it as possible, allow for as much access as possible (within reason) and put them into a situation where they want it more than others.
Depending on the current situation (home owner or tenanted), a big part of getting a premium price at the moment is presentation, sharp pricing and the ability of the agent to negotiate for the seller to get a higher price. A property will sell itself but in the current market, its more about negotiating to get as much market value we can in the current market conditions.
At the moment, there are approximately X properties for sale in your suburb with X houses and X units/townhouses for sale (with some of them under contract). In layman's terms, these other properties are competing with you for buyers. Depending on your area and type of property, it may not be a very big number of options for buyers to choose from which in your case as the seller is excellent.
Low amount of 'stock' + low interest rates + urgency to get into market = high demand + competition + higher prices
Yes there is huge demand for properties at the moment and the strategy is to target the emotional aspect of buyers and get them to compete for the property in question.
Most if not all are marketed via private treaty with a percentage of them with a price point advertised. There are also a good number of properties going to auction (especially with low stock levels). The selling method will be discussed with recommendations made pending the owners input.
Another method available is to market without a price, ie. Submit Offers or For Sale. As buyers now narrow down properties based on price point, taking the price away allows them to judge a property based on what it has to offer instead of discounting it based on price. Also if there was a price on it, no one would pay more than it. This method needs to be explained further pending owners input.
There are pros and cons for each method that can be explained in further detail.
A prominent position in the major websites, ie. realestate.com.au, domain.com.au along with raywhite.com, homehound.com and the chinese website juwai.com is recommended.
Professional photography with floor plans is recommended and definitely non-negotiable.
Options of newspapers/magazines - Westside News, Courier Mail etc
Local flyers in the neighbourhood along with letters to interstate investors.
Market out to our current database of buyers and investors.
Door knocks to invite to open home.)