Set Sale Buying
“Buyer Inquiry Range”- How It Works
When a property is marketed with the traditional fixed price, sellers always ask about 10% above the market price for a number of reasons. With some it is because they have a fear of underselling. With others, they may have an over-inflated view of what their home is worth. At the very least, all sellers will want a buffer to allow for any negotiation.
On the other hand, the pool of buyers looking for a property in a suburb and a range react entirely differently. They form a triangle with very few above the market price. Most will look 10 - 15% lower than what they will finally pay because when they find their dream home, even if it is above what they intended to spend originally, they will buy it.
The fixed price system services neither the sellers nor the buyers. Sellers’ homes stay on the market for a long time and sell for much less than they anticipated. On the other hand, buyers miss out on seeing those properties therefore miss out on th
What Do I Do?
Simply place an offer of what you believe is the right value compared with other homes you have seen. Be prepared to negotiate. We suggest the middle of the range is a very good place to start. Simply submit your offer and our agent will do our level best to negotiate a deal agreeable to both parties.
In the past it was only the sellers and agents’ opinion that mattered. Now its your turn. You have a simple way of negotiating your dream home which previously you would have missed.