Malvern apartment
With the client returning to us for the 3rd time, it was the property we bought for them as first time clients, that we were asked to help them sell it.
After project managing some renovation works, we had the property styled, agent engaged and open for inspections under way. We presented the property to the market over the initial first two weekend periods. After the second Saturday we had an offer made at the top of the quoted price range by a first home buyer. The offer being $550,000 and at an acceptable selling price to our owners. We then received a subsequent second offer from another party. From here, we asked both parties to submit their highest and best offers with the highest achieved being $22,500 above our original offer. A result for the owners, given the fickle apartment market at the moment.
One of the most common mistakes sellers make is starting the campaign with an unrealistic price expectation.
While it may seem logical to “start high and see what happens,” this approach can actually reduce buyer interest and weaken the final result.
Today’s buyers closely monitor comparable sales, price ranges, and auction results. Most serious buyers will have inspected multiple properties and spoken to several agents before they consider making an offer.
If a property appears overpriced relative to the market, many buyers will simply move on to the next listing rather than trying to negotiate. This can significantly reduce enquiry levels and inspection numbers during the early stages of the campaign.
Strong sale results are typically driven by competition between buyers. When multiple buyers feel a property represents fair value, they are more likely to engage with the campaign, attend inspections, and participate in negotiations or auctions.
If pricing pushes too far above market expectations, fewer buyers will engage. With less competition, the pressure that normally pushes prices higher can disappear.
The first two to three weeks of a campaign often generate the most buyer attention. New listings receive priority placement on property websites and are highlighted in agent databases and email alerts.
If a property launches at a price that discourages buyers, that early momentum can be lost. Even if the price is adjusted later, many buyers who originally dismissed the property may not return.
If a campaign starts too high and later requires price reductions, buyers may interpret this as a sign the seller is struggling to attract interest. This can shift negotiating power toward buyers and create the perception that the property has been sitting on the market.
Properties that appear stale often receive lower offers than those that generate strong competition early.
A well-calibrated pricing strategy attracts the largest possible pool of buyers early in the campaign. This creates competition, drives engagement at inspections, and ultimately helps sellers achieve the strongest result on auction day or through negotiation.
Setting the right strategy from the beginning is one of the most important factors in maximising a property’s final sale price.