realestatewa - Real Estate in Western Australia

Currently there are approximately 18,000 properties for sale in Perth and regional areas.

However with less than 600 active buyers seeking properties serious sellers must have every aspect of their property and marketing spot on, according to Geoff Baldwin Realty Group Managing Director, Geoff Baldwin.

“With the odds of attracting a genuine, qualified buyer being around 30 to 1 sellers should consider these key facts, many of which have proven critical in previous slowdowns and which are again proving critical in the current market”, Mr Baldwin said.

Fact 1 - There is no second chance for a first impression! In this market, unfinished or poorly presented properties will be last on the list or will sell well below value.

Sellers must do everything they can to ensure their property presents at its absolute best inside and out with a huge emphasis on street appeal.

Fact 2 – Asking price is critical! The two main drawcards for buyers in today’s market are location and price.

The location can’t be changed however properties priced in the lowest 5 percent in any area are attracting eight times more inquiry than those priced between 5 and 15 percent, with properties outside the lowest 15 percent being pretty much ignored.

Fact 3 - The question buyers are most likely to ask when they are interested in a property is “How long has it been on the market?”

Buyers will always offer less the longer the property has been for sale and for this reason it is critical that the property is priced correctly from day one.

Fact 4 – Experienced, proven, successful agents may charge a higher fee. However they will cast a bigger net and achieve a better result.

The records show that the top agents hold the majority of the stock and hence attract the majority of buyer inquiry and they also have proven negotiation skills, credibility and experience to ensure the selling price is optimised for their clients.

Fact 5 – Incentives can make a competitive difference. When a buyer is trying to make a final choice between two or three properties, six month’s supply of petrol, a free settlement fee or a stamp duty rebate can often be the deciding factor.

Fact 6 - The best agents not only have a top level website, they also ensure that their stock is on every major National and Western Australian real estate internet portal and they invest extra funds to ensure their listings are giving priority billing.

Today around 85 percent of buyers are influenced at some point by the internet.

Fact 7 - Virtual Tours attract more interest. Properties that can be viewed by Virtual Tour technology attract around 3 times as much traffic as conventional listings and because the buyer has already “toured” the property online they are much more qualified when they go the next step and request an inspection.

Fact 8 - Photo signs sell. Your sign is your silent salesperson so rather than having a sign on your front lawn that does little more than advertise the agent, consider a large, descriptive photo sign that highlights the features that a buyer can not appreciate from the street.

A photo sign entices the buyer to get out of their car and to come into the home open or to ring the agent to arrange a viewing.

Fact 9 – Newspaper ads must point to the internet. Ensure your agent includes a web link in newspaper and other advertising. It may not be possible to include all the features, details or images of a property in a newspaper advert however it is possible to include the web address so people can visit the property online.

Fact 10 - Western Australians look A to Z! WA buyers tend go to the A to Z section of the paper before looking elsewhere so insist on your property being advertised there regardless of where else it appears.