Selling without a price

I have to sell an IP in Qld. It's on Macleay island with limited choice of agents.

The most proactive of the agents has suggested listing the property as "offers invited". The logic being that the property is quite arty and fun and would appeal to a certain buyer.

The normal buyer on the island d is a retiree so I like the targeting a certain demo idea.

Just unsure of the "offers invited" thing as that has put me off in the past as a buyer.

Thoughts?

 

Are you your target market? If not then things that have put you off on the past are not really relevant?

 

I trend to gloss over listings if no price is mentioned.
For me at least offers over x amount or a price range

 

No price is generally selfish and self-fulfilling for the Agent only at the detriment of the client. Research this more on Jenman's Ethics about sales agents etc. It has it's place for unique top tier properties, but for anything mediocre it's just a **** for the agent. The typical play is they'll record details of prospective buyers that come through the open homes, call them all later that day and survey what they believe the property is worth, then go back to the seller and say this is what the market thinks it worth (which is mostly unqualified opinionative and could be false information) and then work on the getting the seller to adjust their expectations in order to get a deal through so they get paid which could be at the seller's detriment but through 'vendor conditioning' the seller doesn't even know they're being played.

 

Excellent feedback. Thanks!

 

Same here, especially for something rural or remote I skip ads with no price. Can't be bothered playing games.

 

I usually skip those without price guide as an buyer, when an agent suggest that, might better to change to another agent.

 

@hammer if it is something you cant really work out a price then sure but for 99% of all houses in Australia it is pretty easy to work it out.

If I was looking at a normal house and it didn't have a price I might look at it but it would have to be spectacular to enquire as it is likely the vendors are wanting to much is what the agents are telling me so don't bother enquiring.

Also I would use the hidden search range to get an idea before contacting the agent to see if my guess is far off - not that everyone knows how to do this.

 

We're going old school. Listing with a price.

Thanks everyone for the wise words!

 

Good decision IMO. Also, if using same REA, you might want to keep them on a tight leash.

 

I was looking at a small block of flats, advertised with no price but the Agent offered 2 'comparable' sales circa $1.1-1.3m, the thing ended up selling for only $800k. If I had of know it was that much lower than the bs the Agent was trying to allude I would have investigated it more. As a potential buyer that really ****** me off.

 

You don’t know the whole transaction so it might of had consideration of 1.1M-1.3M - also given that the agent showed you comparables there was either an issue with DD of their comparables or fault from the agent not communicating with all buyers who inspected the property that there was an offer.