Would you sell your home if offered your dream price? Andrew Winter shows how to make it happen
In Melbourne’s beachside St Kilda there is a pretty terrace house that isn’t listed for sale, but is available to a buyer at the right price. That price is $2.986 million. How do I know this? It’s an exciting new development in real estate, and we’ll tell you how you can get on board.
Residz Team 3 min read
In Melbourne’s beachside St Kilda there is a pretty terrace house that isn’t listed for sale, but is available to a buyer at the right price. That price is $2.986 million. How do I know this? The owners have publicly listed their dream price, not their property. It’s an exciting new development in real estate, and here I’ll tell you how you can get on board.
Most homeowners have some idea of the value of their property, says property expert Andrew Winter, best known for his role as host of Love it or List it Australia and Selling Houses Australia. But, he says, it’s seen as a costly hassle to move unless our circumstances change. Those can be the arrival or a new baby, teenagers moving out, or your readiness for a tree change or sea change. While you might not want to list your property right now, would you be tempted if you got your dream price? You’d be crazy not to sell, wouldn’t you?
Recent surveys in Australia have shown that 33% of homeowners would consider selling in a hot market. Andrew says right now, only 1% of that market is actually listed for sale. He says there are lots of reasons why people are reluctant to sell:
- You’re not sure if the price you could get is worth the hassle.
- You need to find a real estate agent.
- There’s the whole cost of advertising and marketing.
- And, the drama of getting your home ready for inspections.
What if you could share your dream price with buyers, without going through all the drama of listing your property for sale?
Putting a dream price on your house, short of pasting a banner on your front door, sounds a bit far-fetched. But Andrew points to a great new website that makes this easy.
“Residz is a new property research platform that delivers comprehensive information about every property in the Australian market,” he says. “Residz allows property owners to research and understand what their dream price is, and to promote that to potential buyers.”
Property owners who have listed a dream price with Residz will have that dream price appear highlighted in yellow on the address of the property (next to the suburb average price). Potential buyers can click on the house and find out more about it, and the neighbourhood. As well, they can (anonymously) register their interest and be alerted to any properties in the area as they come up for sale.
For regional homeowners and potential capital city buyers this is especially helpful. The dream price for owners of a house in the town of Forbes, NSW, (average price $411,000), for example, is relatively inexpensive for a couple who’ve sold a million dollar home in Mount Eliza, Victoria. Setting a dream price has many benefits: It’s upfront and honest, it gives buyers more choice and opportunity, it eliminates time-wasters, and it’s a win-win for buyer and seller.
You can visit a number of properties with dream prices at Residz. Simply search a suburb, and scroll to find yellow highlighted prices. More dream prices are being added all the time as homeowners get used to the novel idea of stating up front what you’d be looking for to sell your home.
While you’re there, you can see more detailed data and extensive insights than are available on any of the general property search websites. Residz also includes an extensive array of lifestyle and risk data about your property and your suburb to help buyers understand exactly why your property might be a great match for them.
As Andrew Winter says, with your dream price set and access to buyers, it might just be the push you need to start on your next adventure.