Market changes, fundamentals don't
ACCORDING to RE/MAX Success broker/owner Ian Knight there have been enormous changes in marketing and selling real estate in Queensland over the past few decades.
The biggest change has been the significant shift from the print media to the internet as the preferred search method.
Importantly, the fundamentals remain unchanged.
Research shows that property advertisements (either print media or internet) encourage buyers to proceed where the location is shown, competitive pricing or appropriate price range declared, quality photos and an appealing property description.
What buyers don't like is where a property is advertised without a price.
This can become a trust issue.
Research indicates the majority of buyers will not enquire or inspect where there is no advertised price.
This is not criticising the auction process however market research clearly confirms the vast majority of buyers prefer to purchase by private treaty, where there is a declared price or price range advertised.
There will always be auction situations like deceased estates, mortgagee in possession, bank exercising power of sale or a unique property where there is no comparative sales data.
"Buyers are more savvy these days," Mr Knight said.
"They have all the technology tools to do their own research but expect agents to simplify the process with competitive sales data, general information about the area and above all, honesty and integrity complimented with quality customer service."