It still seems incredible that Brisbane real estate agents continue to advertise properties without an asking price. There’s lots of tactics in real estate marketing that have ongoing discussion within the industry – where should we advertise, should we stage or furnish a vacant home, or even debate on the merits of auction.
But the one item that’s crystal clear from buyer feedback is that leaving the price off a home is a sure-fire way to kill your enquiries.
If there’s no price on the ad the phones simply do not ring. Using “P.O.A.” or “submit all offers” doesn’t help and this sort of tactic regularly tops buyers’ gripes lists. Buyers do understand if it’s going through an auction campaign. But a big survey conducted by realestate.com.au showed 92% of buyers were unlikely to enquire about a property with no price. PRD Research recently surveyed another small sample and 75% were “greatly deterred” from those properties.
So in the face of the blindingly obvious why would Brisbane real estate agents continue to run ads without prices?
Often it’s the need for agents to be seen as active in their market. The ones with lots of listings. They almost always have a seller client who wants too much for the property so they’re listing and hoping that the lack of activity will lead to a change in the client’s price expectation. Or at worst they get another, saleable listing as a result. It’s a big negative feature of the real estate portals that agents can load as many listings as they like and leave them up for as long as they like.
Is there a price you’d be prepared to sell your place for? Would you agree to be on the market if someone has a lazy $1.2million for your $800,000 home? Some agents might see you as an opportunity to list, get their name and logo on the web, and no-one’s harmed in the process. But it does makes it all that much harder for home buyers and investors trying to sort through the rubbish these websites are full of.