Sales Strategy: Creating Competition Without Flooding the Market
A good example of how sales strategy influences price outcomes can be seen in several recent one-bedroom apartment sales in Innaloo. Across two complexes, we have successfully sold similar apartments over the past several months with progressively stronger results:
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$580,000 (November)
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$595,000
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$615,000
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$620,000
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$650,000
These results were not achieved by chance. They were achieved by carefully managing the release of properties to the market, ensuring that buyer demand remained concentrated rather than diluted.
Interestingly, in one instance the eventual buyer had initially attempted to purchase another apartment in the same complex that was listed at a lower price by another agency. The buyer was unable to inspect the property prior to the scheduled home open and instead pursued our listing where we facilitated immediate access.
In today’s market, buyers respond strongly to agents who provide access, information and transparency.
When buyers trust that they will be given every opportunity to inspect a property and improve their offer, they are far more likely to engage competitively rather than feel like they are simply another number in the process.
