I believe anyone not including a price guide on their listings is doing their vendors a disservice and driving buyers crazy!
Let me explain...
Consumer behavior in 2017 has completely changed.
People want fast information nowadays, as we have families in which both householders work, therefore they are time poor. Families might visit trademe or realestate.co.nz on a Friday morning on their limited time, and decide there and then which properties they would like to visit or enquire about over the weekend. They simply don't have the time to ring 20-30 agents and say "what do you think it's worth”.
The majority of buyers will move straight past a listing online if they don't see a price or a price range.
The Australian real estate website realestate.com.au, which is one of the leading real estate websites in the world, has done thorough research on this topic. Their numbers have come back overwhelming - all buyers want a price discussion if not a price guide, and I am 100% sure that's exactly how our buyers in New Zealand would feel.
Putting a price range on a home is not only great practice and consumer friendly, it's actually something that saves property owners money.
As an agent it's our job to get the best price for the vendor. In order to achieve this, we first need buyers to interact with our listings, take 1 to 2 minutes engaged with the home online, and then decide to visit us on an open day. The price guide is imperative, as without this key detail, as I’ve said the buyer will move straight past the home entirely.
Our goal is to ask, “What does the consumer want?" They want a price or a price guide.
Then, “What does the client want?" They want the best possible price.
"How do you get the best possible price?" More buyers through the door.
From the last 12 years of real estate I have come to be 100% convinced that people don't want tricks, half-truths, smoking mirrors or brick walls. People want straight, honest, authentic and accurate advice.
When I say accurate, I understand there isn't an exact retail price on any piece of real estate, but what I do know is any professional agent should be able to thoroughly research the market and after an in-depth discussion with his/her vendors, should pinpoint within 10-15% of what a home is worth. This of course is a larger range for multimillion dollar homes, but the same concept applies.
With all of this said, price guides assure complete transparency throughout the selling and buying process, a value we at Najib hold to the highest standard.
Nathan Najib
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