Sellers risk losing 25% off asking price

Sellers risk losing 25% off asking price

08 April 2016 by Staff Reporter 0 comments

A property’s poor first impression could see more than $170,000 knocked off the seller’s asking price, new research has revealed.

A survey by finder.com.au found that nine out of 10 buyers would make an offer below a property’s asking price if they were dissatisfied with the exterior, at 13 per cent on average – which equates to $90,452 off the median house price in Australia, according to the comparison website.

A third of buyers said they would offer 15 to 20 per cent below the asking price if they were unimpressed by a property’s street appeal, while 8 per cent said they would knock a quarter off the asking price – which equates to $173,947 off the median house price.

Of the states and territories, Queenslanders would discount their offers the most, at 15 per cent on average. Furthermore, buyers in the sunshine state were most inclined to offer 25 per cent less than the asking price.

[Related: The top 5 home features buyers will pay extra for]

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
William Phillips on how agents can expand their database and grow their business

Get up close and personal with the best real estate sales agents in Australia in Secrets of the Top 100 Agents. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
upcoming events
REB Awards
Sydney The Event Centre 12 Sep
REB Awards
Sydney The Event Centre 12 Sep
Melbourne The Event Centre 14 Oct
Brisbane The Event Centre 18 Dec
View all events
Do you have an industry update?