In a topsy-turvy property market, finding a buyer’s sweet spot is key

Friday 14 Aug 2020

In a changing property market, it’s important to never lose sight of your goal to achieve the highest possible outcome whether selling or renting out your property.  Naturally, everyone always wants a fabulous price, so how does one achieve it when the market turns a bit sour?

Remaining positive and employing an expert is the first start. Agents who have worked through highs and lows will have the right strategy to get you through, and it’s all about finding the sweet spot for buyers and tenants in terms of initial pricing.

Price too high from the outset and you’ll get nowhere fast in an affected market.  But employ a little conservatism and you’ll no doubt find the sweet spot to get a buyers juices flowing (it’s the same for rental properties).

We all know that buyers and tenants want to get a property for the lowest price they can, but love is a beautiful thing.  Suddenly they are throwing all they’ve got at the one they love, so the outcome can be miles from the starting point.

It’s important to remember that a guide is just that, a guide… otherwise known as an “introductory price”, or a “not less than price”, and people in the market get it.  A sellers reserve is what really counts, and is set at the end of the campaign, not the start.

- Kate Webster