The Asking Price?

By Scott McCormick 30th April 2018

We have all been to McDonalds or to a Telstra store or basically to any store and the products they sell have an advertised price. It may be on a menu or on a ticket attached to the item. The point is we generally accept that if Telstra has a price of $499.00 attached to a phone then that is the price we need to pay to purchase that phone. If a cheese burger is on the menu for $2.00 then that is the price we need to pay to purchase a cheeseburger.

Why then in real estate is it almost taken for granted that the advertised price of a property is only a guide and that any property is open for negotiation?  I can tell you why. Often the real estate agent entrusted by the vendors to negotiate the sale of their property asks a person who has shown very strong interest in the property “would you like to make an offer”? Hence, the potential buyer when asked that question is basically being told they are welcome to make an offer.

Why doesn’t an agent say to a potential buyer who has shown strong interest in a property “do you want to buy” rather than “would you like to make an offer”. In my opinion herein lies a key question all vendors should ask their agent before they select the agent who will sell their property.

Homeowners – ask your agent how they propose to handle a buyer who has shown strong interest in their home when it comes to dealing with the price. The very best negotiators will be equipped to answer this question.

Regards

Scott

Scott is always available to take your call to discuss any real estate matters 0409 216 465