How to get best exposure of property for sale in unknown suburb

[INVSTOR]

I'm soon to sell my PPor that is in a tiny suburb that most peoPle in Perth have never heard of. Does anyone know any strategies to obtain maximum exposure?
I know I can't advertise on realestate.com.au under a different suburb although one agent mentioned that having it as a 'featured listing' it would show up in surrounding suburbs along with 9 other listings rotating adverts. I think he used wrong terminology as he said it cost around $1500/month for the 10 ads and another agent told me a featured property cost $279/month and meant your property would stay towards top of list. He said this would benefit me as it would stay at top of list for surrounding suburbs. (maybe they are just referring to two different types of 'featured' properties)?

One agent uses an email system to contact any buyer who has made enquiries in previous months with their latest listings, the other agent text potential purchasers with latest listing.

What do you think of these selling strategies?

Maybe I should also do a letterbox drop in surrounding suburbs?

 

[MTR]

Hi Invst
But I have seen many adds/listing under a different suburb in the paper, for example a property may be listed under MT LAWLEY, and it will read.... magnificent home bla bla bla...... view listing under INGLEWOOD.
Could do similar, placing it under MORLEY listings. Not sure whether it works though?? Never used this strategy myself.

Featured property may work well, I know I always look at these, get's my attention.

Letter box drop to surrounding, cheap and perhaps effective.
Why not, give it a go.

Should also send listing to every person on agents data base.

The more options you use I guess the better the chance of selling.

Main thing though is to have the price correct, one thing is you do not want to overprice a property, especially if the market is starting to turn. If your area is hot, then you can be bold, otherwise play it same, just my opinion.

 

[INVSTOR]

Yes MTR, newspaper is fine to list under another suburb but realestate.com.au has a rule that you can't do this. I used to advertise Ashfield rental under bayswater or Bassendean in newspaper when no-one knew where it was.
Do people still look at newspaper listings? Are you referring to your local paper? I was thinking local paper could be worth it. That's how I found the property when I purchasd 11 years ago but the silly selling agent wrote that the suburb was called, 'Glen Kiara'. The agent was so silly he didn't know how to write $1000.00 deposit on contract, he kept writing $1,000,000 so we had to write it. This was his only sale, lol.

 

[Scott No Mates]

Re com and domain both allow you to search suburb x and surrounding areas. If someone hasn't heard of Ashfield WA (& I haven't) they will find the property without wasting $$ on premium advertising.

I ignore the premium adverts.

 

[INVSTOR]

Re com and domain both allow you to search suburb x and surrounding areas. If someone hasn't heard of Ashfield WA (& I haven't) they will find the property without wasting $$ on premium advertising.

I ignore the premium adverts.

I feel that I tend to ignore the premium adverts also.
Two agents have also recommended to use a sign with internal photos as its a nice house, one of the nicest in the suburb and more typically the style of house you would find in surrounding upmarket suburbs. I think I'll go with this. After I purchased this house I met three other people who wanted to buy it but didn't put offer in quick enough. - one was a guy who lived a couple of suburbs away who was selling a car I considered buying and mowed lawns in our street, he wanted it as a rental, another was my now next door neighbour who chased up the owner of the vacant lot next door and another was another neighbours friend.
The suburb I'm selling in is 'Kiara' - I bet you haven't heard of that area either Scott?

 

[D.T.]

Kiara is unknown?

 

[INVSTOR]

MTR- pricing it right is extremely difficult! The last 'similar' property to sell was 2 years ago. I had an agent yesterday give me a really low valuation. A lot lower than my bank valuation a year ago. Probably because he is comparing it go a lot smaller house and land that has sold recently. I'm not sure if my expectations are too high or if agents are giving low valuations since the surrounding suburbs have cooled down a bit. A newer, nicer internally house but smaller block - about 200sqm smaller, just sold in Bennett Springs for $650,000. I'd like to achieve around that at least. A really dated 2storey (24 year old home) with pool just sold a few streets away for $690,000 but the block is 100sqm bigger and subdividable. I've had 6 valuations done ranging from $580,000 to $650,000. Maybe I should just go with the Herron Todd White valuation from November and add 10%. That would bring it to $682,000. There has been a few selling around that price this side of Tonkin Highway in Morley.
Maybe you girls need to drop in for a coffee and give me your view!

 

[INVSTOR]

Kiara is unknown?

Come on Dave, you only know because you went to the high school up the road, what's it called.... Kiara College.

 

[INVSTOR]

It was also suggested to me to do a "set date sale". Personally I avoid them. Thoughts?
I think a range would work better since there is so many different opinions of what it is worth.

 

[thatbum]

It was also suggested to me to do a "set date sale". Personally I avoid them. Thoughts?
I think a range would work better since there is so many different opinions of what it is worth.

I never understood the point of a range - seems like it would just be better to advertise from the low end of the range.

I wouldn't use a premium ad either.

 

[INVSTOR]

I never understood the point of a range - seems like it would just be better to advertise from the low end of the range.

I wouldn't use a premium ad either.

One agent recommended from but I was wondering if people would use that figure as asking price and discount from there rather than go up. But the suggestion was that you ignore the low offers and if someone falls in love with it they will offer more, or hopefully a couple bid against each other.

When I purchased the property I only viewed it because I thought it was greatly overpriced. When I viewed it I realised it was a lot more superior than the other surrounding properties. I set the record for being the highest sale price in the suburb. I'm hoping to do this when I sell.

 

[Peter Parker]

The suburb I'm selling in is 'Kiara' - I bet you haven't heard of that area either Scott?

I'd heard of it - and immediately thought Lockridge.

At least among people of a certain age it will always be associated with 'fringe dwellers', although this appears to be no more http://en.wikipedia.org/wiki/Swan_Valley_Nyungah_Community

Is it like how they renamed part of Balga as Westminster?

 

[INVSTOR]

I'd heard of it - and immediately thought Lockridge.

At least among people of a certain age it will always be associated with 'fringe dwellers', although this appears to be no more http://en.wikipedia.org/wiki/Swan_Valley_Nyungah_Community

Is it like how they renamed part of Balga as Westminster?

I'm not sure, I don't think so. Possibly more like how they renamed part of Beechboro as Bennett springs. Is Westminster a new estate? I don't know Balga/westminster. Drove through once! Kiara is Newer houses and a totally different feel and residents. I know people that live in Lockridge and their quality of life is very different. Get random drunk people hanging around, pets stolen by neighbours, etc. it's very different to Lockridge. Kiara is a very low crime/safe suburb of Perth. I have a very low tolerence for crime. I even like it heaps better than the heart of Morley and other well-known nearby suburbs that sell for about $200,000 more.

 

[INVSTOR]

Ha, I just looked at Spidermans link.
Where's Dazz? He might get a big head if he's lurking.
I was doing my grocery shopping about 6 months ago. A loud, friendly shopper was talking to a couple of other shoppers and grocery store employees. "they've knocked down all the buildings at the N... Community. About time. All bEcause of Dazz."
He seemed to be a big fan!
About 11 years ago the camp was moved on to Ellenbrook. Hasn't been around for a long time!

 

[INVSTOR]

Is it possible to have sellers remorse before you sell? Alex P Keaton may be able to answer that.

 

[Macca]

Would it be possible to describe the location as next to XXXX and XXXX, or between xxxx and xxxx

May also be possible to have "are you looking for a home in XXX then you should look at this, right next door and you can save thousands"

When the searches are done they may pick up on the suburb names in the text of your ads.

 

[INVSTOR]

Would it be possible to describe the location as next to XXXX and XXXX, or between xxxx and xxxx

May also be possible to have "are you looking for a home in XXX then you should look at this, right next door and you can save thousands"

When the searches are done they may pick up on the suburb names in the text of your ads.

Yes, I should do that. It's one street off Morley. A couple of agents have mentioned its more like a Baywater or Dianella type house so it maybe worth mentioning.
I spoke to a real estate agent who recently sold a property a few streets away in Morley and he didn't know where Kiara was.

 

[westminster]

It was also suggested to me to do a "set date sale". Personally I avoid them. Thoughts?
I think a range would work better since there is so many different opinions of what it is worth.

Hmm set date sale is ok as long as you don't put Set Date Sale in the price field. I think it's important to have a figure in there. I hate listings with no price, EOI, Offers Wanted etc in the price field - drive me bonkers

I wouldn't do range - why would people offer at the top as range insinuates that you will take the lower.

My preference is FROM. Yes it does say that is the lowest will you go but it puts no ceiling on how high you will go.

If you want $650+ then I would put 'from $649'

 

[INVSTOR]

Hmm set date sale is ok as long as you don't put Set Date Sale in the price field. I think it's important to have a figure in there. I hate listings with no price, EOI, Offers Wanted etc in the price field - drive me bonkers

I wouldn't do range - why would people offer at the top as range insinuates that you will take the lower.

My preference is FROM. Yes it does say that is the lowest will you go but it puts no ceiling on how high you will go.

If you want $650+ then I would put 'from $649'

Yes, I think I should go with that. I think if I don't sell at price I want I may hold as rental. I've been told this area has cooled off a bit but areas like Maylands are picking up so should be flow on and pent up demand by end of month. Another consideration is Midland Hospital will be opening in future and employees are most likely to not live in Midland, More likely Guildford, etc, so that could be positive in future.
My current competition a few streets away is stuff like this. Although my place is a lot more modern and bigger. Will see what it goes for.
http://www.realestate.com.au/property-house-wa-morley-117284863

 

[MTR]

MTR- pricing it right is extremely difficult! The last 'similar' property to sell was 2 years ago. I had an agent yesterday give me a really low valuation. A lot lower than my bank valuation a year ago. Probably because he is comparing it go a lot smaller house and land that has sold recently. I'm not sure if my expectations are too high or if agents are giving low valuations since the surrounding suburbs have cooled down a bit. A newer, nicer internally house but smaller block - about 200sqm smaller, just sold in Bennett Springs for $650,000. I'd like to achieve around that at least. A really dated 2storey (24 year old home) with pool just sold a few streets away for $690,000 but the block is 100sqm bigger and subdividable. I've had 6 valuations done ranging from $580,000 to $650,000. Maybe I should just go with the Herron Todd White valuation from November and add 10%. That would bring it to $682,000. There has been a few selling around that price this side of Tonkin Highway in Morley.
Maybe you girls need to drop in for a coffee and give me your view!

This is the problem no recent comparable sales??? I had a quick look, have you physically checked out what is currently on the market at around $580K, which seems to be the higher entry level at the moment in Kiara from what I can see.

Why is your property worth $100K more? Why is there such a huge discrepancy with the agents pricing? Who consistently sells for good prices in the area? Who is aggressive? Who knows their stuff?

Tacking on 10% from last valuation may not sell the house, because it is totally dependent on where the market is today, markets can change very quickly. As you stated the market has changed.

I would not compare Bennett Springs to Kiara, it will be like chalk and cheese, just my opinion. Bennett S, new product, people pay more for this, and seems to have had excellent growth over the last couple of years.

My concern is getting the listing price correct, if you over price you will be shooting yourself in the foot, properties that stay on the market too long only go one way and that is south. You then have the vultures looking for bargain, and before you know it the low ball offers come in. Harsh as it may sound I think its just so important to get this right as is getting the right selling agent.

I sold 2 properties in Dalyellup at the time every house was the same brand new 4x2, the market had crashed, I needed to sell them both and knew it was going to be tough. I got the best agent in the area and he was hard working and super aggressive.

Strategy we used - we went around $15K below anyone in area with same product ie from $385K, I wanted $400K, so this enticed buyers into my property, at this time it was difficult to get buyers into the homes. The agent of course got an offer of $385K and then he worked it up till be got $400K. I am not sure how this would work in your area, but of course getting the right is also important.



All the best.

MTR