When a property is placed on the market with a private treaty sales strategy (normal for sale) it is vitally important to position yourself (as the vendor) in a position of strength in relation to price negotiations with prospective buyers.
Our belief is that a single asking price is the correct pricing strategy as it immediately puts the vendor in the driver’s seat and not the buyer as you are clearly stating what price the property can be purchased at or at what level you may consider offers.
With a price range strategy which incorporates a bottom figure to a top figure of no more than 10% above the bottom figure, we believe that you will encourage buyers at the bottom of the range or below, you may attract a lot more buyers to the property but they will not be the right buyers, you also run the risk of being guilty of underquoting if you will not accept an offer at the lower amount of the stated price range.
Common-sense and years of negotiating experience tells us that when a buyer is given the options of a lower price point or a higher price point, the buyer will always choose the lower price point. Therefore this starts the negotiation with the buyer in charge of the negotiation as they will no doubt fixate on the lower amount of any range stated.
With over 30 years combined real estate selling experience including in excess of 1,500 property sales, we believe we are in a position to truthfully advise our vendors on the best possible method of sale and pricing strategy for their property and being able to negotiate on their behalf to achieve an outstanding sales result.