For sale... but no price

vaughan said:
I just sold a property and the first offer was $20,000 ABOVE our asking price. The agent succeeded in getting another $5,000 out of them, too. But the market was hot, the buyers really wanted the place settlement before Christmas, and to be honest we had no idea what the property would sell for (very small acreage in a rural area on the CC).
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Nice! And at least you put a price on it.

vaughan said:
OTOH I just purchased an IP for $35,000 below their asking price. That's because their asking price was delusional, not because I used Jedi mind tricks on them. I'm still working out whether I bought a bargain or a train wreck. :)
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My last IP involved a 2 page submission to the agent that the agent passed on to the vendor. The agent used my submission to leverage the vendor to accept a lower offer + the agent reduced his comission to about 1/3 of usual. Like you, I wasn't sure if it was a bargain or train wreck. It has been a lot of work, and was touch and go for a while, but it has come good and turned out to be my best buy.
 
At the end of the day, sellers are more eager to talk to a buyer who has higher interest that some one with lower interest. If the property ticks say 6 out of 10 boxes for you, then your offer is more likely to be lower than someone who has 9 out of 10 boxes ticked. How that matches with a sellers thinking is usually determined by what time they have left, before their need to sell kicks in. The frustrating sellers, are the ones who don't have a genuine need to sell, but are happy to test the market to see if there is some who has 12 out of 10 boxes ticked. Thankfully there are not too many of those. I would think that what is important how well the property suits you or does not, not whether the seller puts a price on or not. Most buyers have been through more properties than the agents have, so are pretty much educated of where a property sits.
 
IF the property is listed on one of the realestate web pages the agent needs to select a price range for the property to appear in searches.

If you look at the coding behind the web page the price range will show, not totally certain how to do this but I am sure you can google it. I think it may have been explained on this website previously.
 
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I get properties with no prices, or listed as "contact agent" in my RE.com searches. If I'm interested I call the RE agent and ask what the vendor is expecting. I am usually given a from this to this price range. While I have't made any offers to date, I would come in under the lowest price in the range and see how I go.

I also check the property address to see if there are old for sale listings, and try to find out what the vendor purchased the place for, and try to work out how much the vendor has made on the property since it was last listed.

Of course if extensive renos have been done on the property one isn't comparing apples with apples. Then I try to estimate how much it cost to do the renos and what capital gain the vendor would be getting. This has turned me off quite a few properties as I don't think it's reasonable for anyone to be making $300K in 18 months on a property they haven't touched.
 
MRO said:
IF the property is listed on one of the realestate web pages the agent needs to select a price range for the property to appear in searches.

If you look at the coding behind the web page the price range will show, not totally certain how to do this but I am sure you can google it. I think it may have been explained on this website previously.
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Right click in the main body where the description is. Choose "view page source". Command F and type in "price".

I cannot do this with Safari but can do it with Firefox. It is helpful up to a million but the next bracket is too large to be much help.
 
wylie said:
Right click in the main body where the description is. Choose "view page source". Command F and type in "price".

I cannot do this with Safari but can do it with Firefox. It is helpful up to a million but the next bracket is too large to be much help.
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Ah... cheers!
 
Wylie, thank you for that. We have had a few people quote us an odd figure, and we have scratched our heads wondering where that came from. We just did a test on one of our listings, and the figure came up was $750.000. Which is less than the figure we inserted. On closer examination, the figure $750,000 was the first in the range of $750,000 to $1,000,000. this is a large range. I assume below $500,000 the range may be $100,000. So be cautious.
 
perthguy said:
How many posting in this thread have negotiated on a property that listed without a price or price guide? How did you determine a price to offer? Was your offer accepted? Did you eventually purchase the property? I would be interested to hear some actual experiences.
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A property came in to market as an auction property. No price guide. Then agent asked to write our offer as two other buyers are offering to buy before auction. We were told there won't be any negotiation so we better put our best offer. We did write our best offer and we were told that our offer is the highest but the owner wants to go for the auction. So we bid at the auction and ended up buying a few thousands less than our written offer!
 
Singo said:
A property came in to market as an auction property. No price guide. Then agent asked to write our offer as two other buyers are offering to buy before auction. We were told there won't be any negotiation so we better put our best offer. We did write our best offer and we were told that our offer is the highest but the owner wants to go for the auction. So we bid at the auction and ended up buying a few thousands less than our written offer!
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I don't know why this keeps happening. Last auction I went to, the agent (auctioneer) got into it with a group who had put in a written offer higher than where the auction stalled but the agent advised the vendor to refuse the offer. Written offer was $950k and auction stalled at $940k. Property was passed in and listed for $1m+. After a few months on the market was re-listed at $950+. Eventually sold for less than that... less than the initial written offer.

I have seen the same guy auction a few houses an every time he ended up getting into an argument with a prospective purchaser.
 
from view source looks like they're after 500-600k, not hard to look up with the really helpful info in this thread.

1) View source in browser, right click should give you that option.
2) CTRL f for find, type in "price"

data-param-region="north_east_perth" data-param-sub="nollamara" data-param-price="500k_600k"

The message most people are trying to convey in this thread is that it doesn't matter what price is attached, you need to work out what you think you should pay for it.
 
simtr said:
from view source looks like they're after 500-600k, not hard to look up with the really helpful info in this thread.

1) View source in browser, right click should give you that option.
2) CTRL f for find, type in "price"

data-param-region="north_east_perth" data-param-sub="nollamara" data-param-price="500k_600k"

The message most people are trying to convey in this thread is that it doesn't matter what price is attached, you need to work out what you think you should pay for it.
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My agent listed my property with a hidden price range lower than the asking price so that it would appear on more searches, so I don't find a hidden price range particularly useful.

Also, it's pretty hard to comp a property if you don't know where it is. I can't work out what I think I should pay for it if I don't know it's location. Why is it a secret? Is the property for sale, or not?
 
Says to email him for more info in the advert.

I've done this on a few properties before that didn't have the address listed, works well.
 
Can be whatever you want it to be, you can even ask him why he hasn't listed a price range or the address. Hopefully that will settle all your issues.

You'll get a better response than posting on a forum.
 
simtr said:
Says to email him for more info in the advert.

I've done this on a few properties before that didn't have the address listed, works well.
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I've emailed a few agents and had not reply at all.

One I did follow up this week and agent said he hadn't received my email. I do wonder how good the "email agent" button is?
 
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