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Would you enquire about a house with no price?

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#1 RachelT

Posted 06 November 2012 - 09:01 PM

So as the title says, our real estate agent has suggested not puting a price on our home for at least the first 2 weeks of advertising, just to get the potential buyers feedback and see where they think the house is worth, and then maybe after that add a price. There will still be a price in the 'background' so it comes up in the right searches online. Hubby and I thought it was a good idea but my parents said tonight they get annoyed with no price and always assume its more than they thought so they don't even bother with homes with no price guide, so wdyt?

#2 *molly*

Posted 06 November 2012 - 09:04 PM

No, I wouldn't bother chasing it up unless I happened to be very keen. I'm one who gets annoyed with no price or auctions without an accurate price guide. Why waste my time making inquiries or falling in love with something that's potentially out of my price range?

#3 B.feral3

Posted 06 November 2012 - 09:04 PM

We've been house hunting for 6 months and I look at the new listings daily.
I do the same as your parents.

#4 twinboys

Posted 06 November 2012 - 09:04 PM

TBH - if I don't see a price on anything I don't bother looking.

But if you have chosen the right REA they will know what works best to sell your home in that particular area!

#5 Broxie

Posted 06 November 2012 - 09:06 PM

I likely wouldn't persue

#6 Gumbette

Posted 06 November 2012 - 09:06 PM

I hate auctions, so there is next to no chance I'd enquire about a house with no price.

#7 Madnesscraves

Posted 06 November 2012 - 09:09 PM

No price = no looky.

It grates me just like 'offers over'

Just have a set price and ill consider the house!

#8 WibbleWobble

Posted 06 November 2012 - 09:10 PM

What your parents said. I once rang up about one with no price and the REA used it more as a fishing expedition at to what our budget was. Even by the end of the call I still didn't find out how much the house was.

I have also kept an eye on a few that were without price but in our search price bracket only to find several weeks down the track with a price they were way out of our price range.

Now I don't even bother to look at or enquire about a house without a price.

Edited by WibbleWobble, 06 November 2012 - 09:11 PM.

#9 emnut

Posted 06 November 2012 - 09:12 PM

no -personally I think agents recommend this as it benefits them - it helps them build a list of potential buyers for all properties they are trying to/will try to sell rather than being of benefit to you directly as a vendor (because generally they will only talk price with the prospective purchaser once they have details.

#10 Oma Desala

Posted 06 November 2012 - 09:12 PM

I wouldn't bother enquiring about a house with no listing price. I also pay no attention to auction listings unless they have a buyers guide attached. The only exception would be if it was my dream house and I haven't come across one of those in the 5 years I've been looking.

#11 Chelli

Posted 06 November 2012 - 09:14 PM

I'm another who wouldn't bother to enquire as I like advertising to be upfront. The "offers over" and "price between $x and $y" way of advertising also bugs me and I wouldn't bother with that either. I don't get the point because I wouldn't walk into a shop and pay top dollar for a pair of shoes that asked for an offer - I'd be looking for the lowest price.

#12 MARsmum

Posted 06 November 2012 - 09:17 PM

I don't agree about what others have said althought it really depends on where your house is located.  I live in inner city Sydney and basically every house is for auction without a price range or if it does say a price range, it is to let you know that they want lots of money!  So, for me, I never expect a property to have a price although that is the norm in my area!

#13 mum201

Posted 06 November 2012 - 09:18 PM

Unless it was my absolute dream home, I would cross that off my short list.
It's still a buyer's market (in Sydney at least), so you have a lot of competition, hence buyers can afford to just wipe a house of their short list.
I am wondering why the agent suggested this though...... Is it an unusual house and they don't have enough comparable recently sold properties to be able to find an accurate price point, or do you disagree with the agent's market appraisal, and they are trying to get feedback to condition you, the vendor, so you will 'meet the market'. As a former RE Agent I can't think of a reason they would think this would be a good idea in the current market.

#14 EBeditor

Posted 06 November 2012 - 09:21 PM

I have sold an apartment this way and we got the price we wanted. It seems to be the current way to sell in our area too (Sydney).

Basically they want to get lots of people to the open houses and get some feedback on price. Depending on how many interested parties there are they can decide to just allow offers to come in, name a price or go to auction. The minute you put a price on it you cap the eventual price OR you drive away people at the lower end.

What is more likely to turn me off is not having a floor plan on the internet listing. Drives me nuts!

#15 Silver Girl

Posted 06 November 2012 - 09:22 PM

Another who is like your parents. I hate wasting my time on an inspection only to find a house is well outside my budget.

Having said that,  where I live,  "POA" is annoyingly common.

#16 Guest_- Poppy -_*

Posted 06 November 2012 - 09:24 PM

No, I hate when real estate agents do that - its such a w**ky thing to do.

When I want to buy a house im serious, I mean buisness, I dont like to be stuffed around.

When I see P.O.A I just roll my eyes and dont even bother looking at the house.

#17 LoudMuffin

Posted 06 November 2012 - 09:24 PM

I don't even look closer at the pictures and stuff if I'm dream house hunting if there's no price.

#18 Chchgirl

Posted 06 November 2012 - 09:25 PM

No, whenever I buy I avoid these listings at all costs and usually scroll through, no matter how nice the house looks.

I will be looking to buy again and sell my house  in 12 months as I want to move from Sydney, and as I will be looking out of Sydney, time is a premium so I will only go to open homes that have the prices listed in my budget.

Edited by Chchgirl, 06 November 2012 - 09:26 PM.

#19 Guest_- Poppy -_*

Posted 06 November 2012 - 09:26 PM

Plus there is something seriously wrong with your real estate agent if they cant tell you what your house is worth!

From experience I can tell you (and its a good general rule anyway) that when you sell your house you should meet with at least three different real estate agents (from different agencies) and get their opinion.

Edited by - Poppy -, 06 November 2012 - 09:28 PM.

#20 Lokum

Posted 06 November 2012 - 09:26 PM

I detest it, and rarely bother.

I know it's common in some areas, for some houses (generally $900K+), so I would assume it was very expensive. TBH, I think it's really slack of the agent. Unless there's something quite unusual about the house, or it's unusual compared to all the others in the area, they should have quite a good idea about what it's worth and how to market it.

In our area, it's quite common to quote an auction range (eg $680-740), but to expect up to 10% over the top end of the range (eg could go for up to $800. These I still look at, but not price at all? Can't be bothered with the game playing phone call with the agent while they ask me a whole series of questions about my circumstances. Makes me want to lie as well.

#21 zrello

Posted 06 November 2012 - 09:26 PM

I find its just an annoying way for agents to increase their database of potential buyers, and the price is always overpriced (from Melbourne western suburbs experience). Agents seem to do this when they know its overpriced but don't want to put people off straight away, same as not listing address, if its close to something unattractive.

#22 HubbaBubbaMumma

Posted 06 November 2012 - 09:27 PM

I'm with most, if there's no price then I wouldn't bother.

Agents seem to want to play this game with purchasers and to a lesser extent vendors when it comes to pin pointing prices.

It irritates me beyond belief. When we were buying I got to a pont where if an agent would be upfront with an approximate price of a property then I'd just walk away.

#23 EBeditor

Posted 06 November 2012 - 09:28 PM

The real estate agent will know what the market value is (and they would tell you before you sign with them), but the only real price of  a house is what someone is prepared to pay for it.

I agree that is is annoying for the buyers but it can work in favour for the vendors, if they have a desirable property in a popular location.

#24 Luxe

Posted 06 November 2012 - 09:31 PM

I've been researching what's on the market at the moment. I can't stand it when no price is listed. I don't know if it's in my budget or not. So it has to be something special for me to want to enquire. Like others have said, I assume it's too expensive for what I'm after. I also don't like that it forces me into contact with a real estate agent so soon and be required to give details and be quizzed.

Edited by Luxe, 06 November 2012 - 09:34 PM.

#25 Phascogale

Posted 06 November 2012 - 09:34 PM

It annoys me.  

I'm currently house hunting and I have a very good idea about what the house is worth before I email the agent.

And it is an email through a website with a straight out price query.  The few times I have done that the agents have been upfront and said this is what the house is expected to sell at (I can usually subtract $20-30K off that as the houses around here (in my price range) are all overpriced by about that much).  There hasn't been any 'fishing' from the agent to find out what my budget is.  There's limited homes in which to choose from which may be why they are so upfront.  They should just put the price up not an expression of interest or poa.

I also ask about the ones for auction and once I have been surprised to find out that a house is likely to sell for less than I thought it might (wondering what's wrong with it!).

I'd be putting a price.  If there are a lot of homes for sale in your area, unless it looked like my dream home I would be crossing it off my list.

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