Toongabbie Property Sale Case Study

Not many prop­erty own­ers real­ise how much advert­ising a ‘capped’ price or with no price at all can neg­at­ively affect the final sale price of their home. This is the worst prop­erty selling mis­take you can ever make because as you can see in the RealEstate.com.au report below the most amount of interest that a prop­erty gen­er­ates occurs in the first 2 days. After this time enquires starts to drop significantly.

A com­mon strategy sug­ges­ted by some agents is to try at a higher sale price for the first two weeks and then reduce the price in order to rein­vig­or­ate interest if they are not get­ting the response they want. What they are not tak­ing into account is that the best interest your prop­erty receives is in that ini­tial two week period. If the prop­erty is mis­rep­res­en­ted whether it be via pri­cing or mar­ket­ing it only serves to ali­en­ate the prop­erty from the mar­ket­place dur­ing a time in which it is receiv­ing max­imum expos­ure which in this instance can be neg­at­ive exposure.

The most effect­ive way to sell your home for the highest price pos­sible is by tak­ing advant­age of the max­imum expos­ure exper­i­enced in the first two weeks in order to gen­er­ate mass interest in your home and max­im­ise buyer com­pet­i­tion. What most own­ers think when they hear this is Auc­tion which for some is quite daunt­ing. It is for this very reason we have devised the ‘Offers Over’ mar­ket­ing strategy which takes all the best ele­ments of Auc­tion while elim­in­at­ing the bar­ri­ers and stig­mas usu­ally asso­ci­ated with the Auc­tion process.

The ‘offers over’ pri­cing strategy is used to attract mass interest in your home by advert­ising at a start­ing fig­ure that com­mu­nic­ates to buy­ers that the owner is expect­ing a fig­ure above that level. This price point is also chosen to be com­pet­it­ive with other prop­er­ties cur­rently on the mar­ket and allows your prop­erty to be the home buy­ers choose to inspect over what else is avail­able on the market.

The bene­fits of this method is that it allows the owner and their agent to pre-qualify buy­ers by set­ting a min­imum price that is very com­pet­it­ive in com­par­ison to other prop­er­ties on the mar­ket­place as they know that the buy­ers who inspect have budgets above the advert­ised price level. This method also comes with a safety net as unlike an Auc­tion the owner is not required to set a ‘reserve price’ as being a private treaty sale they still have the final say on the price that they are will­ing accept.

A major bene­fit of this method is there is no max­imum indic­a­tion of the price which allows effect­ive nego­ti­ation to push the price up as far as pos­sible without a ceil­ing to limit the figure.

Below is a prime example of how the ‘Offers Over’ mar­ket­ing strategy is able to achieve the best pos­sible price within the shortest pos­sible time.

Time on mar­ket: 3 days

 

Num­ber of Buyer Inspec­tions:  41 buyer inspections

 

Res­ult:  SOLD $106,000 above the ask­ing price

 

Agent’s Com­ment:

After only 3 days, 1 open home and 41 buyer inspec­tions this mag­ni­fi­cent 5 bed­room home has been SOLD for $106,000 above the ask­ing price. Fol­low­ing the open home a fierce and com­pet­it­ive nego­ti­ation took place with 13 buy­ers fight­ing vig­or­ously for the property.

With many qual­i­fied buy­ers still left look­ing to buy prior to Christ­mas now is the best time to take advant­age of the demand for your neigh­bour­hood and find out what your home could be worth today. If you would like to know how Eld­ers Real Estate can get you the best price for your home then call or SMS Edward Pena on 0418 310 385.

15 Austin Woodbury Pl, Toongabbie property sold in 3 days

 

15 Austin Woodbury Pl, Toongabbie floor plan

15 Austin Woodbury Pl, Toongabbie stats and buyer views

15 Austin Woodbury Pl, Toongabbie buyers list - open home page one

15 Austin Woodbury Pl, Toongabbie buyers list - open home page two

15 Austin Woodbury Pl, Toongabbie property SOLD for $106,000 in 3 days Elders Real Estate

About 

Jhai is an award win­ning Inter­net Mar­ket­ing Real Estate Agent for Eld­ers Toongab­bie and Kings Langley. After run­ning his own inter­net mar­ket­ing busi­ness he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to mar­ket them­selves online. Jhai is now fixed on one goal. To teach real estate agents that they can mar­ket online so much bet­ter than they cur­rently are.

Since then he has been con­sist­ently quoted in the Sydney Morn­ing Her­ald and Real Estate Busi­ness online. He is a reg­u­lar guest blog­ger on TheHomePage.com.au, shar­ing his expert­ise of mar­ket­ing aspects for the Real Estate Industry. His biggest pas­sions are his wife, mar­tial arts, dogs and most of all property.

seven hills real estate agent NSW
Cnr Federal Road Prospect Highway Seven Hills NSW 2147 Australia