The Agent may suggest a ‘No Price’ or ‘Bait Price’ marketing strategy.
“Why limit the price, you might get even more for it” … is a line often used.
The real reason some agents use this approach is … if there is no published price, the agent in control of all price conversations … and can tell buyers a lower price to get more buyers in the door with lower budgets. Agents know it’s easier to sell a property the lower the home sellers expectations are and this is why they want many inspections and lower offers.
If a home seller catches the agent out, the agent will often say, “this is how we do it all the time” it’s to “get buyers in to create competition and drive your price up”, or “we aren’t even getting much interest at this level”.
At Ozway, we stand by the price we tell you and will openly advertise the price you want to buyers.
Research shows you will lose 25% of your buyers if no price is published on your ads and these buyers are often the best and fairest buyers.