Properties with no asking price deter buyers

Properties with no asking price deter buyers

11 April 2012 by Staff Reporter 17 comments

Staff Reporter

Properties marketed with no fixed asking price are negatively affecting the pool of potential buyers, according to a poll by PRDnationwide.

Three quarters of respondents (75 per cent) were “greatly deterred” by properties which didn’t reveal a fixed asking price and often overlooked those properties during the search for a new home.

The survey found 20 per cent were “slightly deterred” by a property without a selling price, while only 2.5 per cent were “definitely not deterred”.

The remaining respondents (2.5 per cent) admitted they were “unsure”.

The poll, which was conducted during the entire month of March, attracted 450 respondents from across Australia, although the majority of respondents came from QLD and NSW.

PRDnationwide research director Aaron Maskrey said some agents and sellers listed properties without a selling price – which, the results suggest, could usefully be avoided.

“Ultimately you could be missing out on potential purchasers by not advertising a selling price or giving a range,” he said.

“Typically sales activity across the market is still well below the longer term average and every effort should be made to be ‘seen’ by the most number of house hunters,” he said.

“According to the poll, estimating a sale price ensures every opportunity to maximise viewings and competition.”

Mr Maskrey said there were several alternatives to fixed price marketing, including price on application and buyer feedback ranging, which both avoid fixed prices.

Staff Reporter

Properties marketed with no fixed asking price are negatively affecting the pool of potential buyers, according to a poll by PRDnationwide.

Three quarters of respondents (75 per cent) were “greatly deterred” by properties which didn’t reveal a fixed asking price and often overlooked those properties during the search for a new home.

The survey found 20 per cent were “slightly deterred” by a property without a selling price, while only 2.5 per cent were “definitely not deterred”.

The remaining respondents (2.5 per cent) admitted they were “unsure”.

The poll, which was conducted during the entire month of March, attracted 450 respondents from across Australia, although the majority of respondents came from QLD and NSW.

PRDnationwide research director Aaron Maskrey said some agents and sellers listed properties without a selling price – which, the results suggest, could usefully be avoided.

“Ultimately you could be missing out on potential purchasers by not advertising a selling price or giving a range,” he said.

“Typically sales activity across the market is still well below the longer term average and every effort should be made to be ‘seen’ by the most number of house hunters,” he said.

“According to the poll, estimating a sale price ensures every opportunity to maximise viewings and competition.”

Mr Maskrey said there were several alternatives to fixed price marketing, including price on application and buyer feedback ranging, which both avoid fixed prices.

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