I’m new to investing and as i have mentioned before we are moving to Perth to start our investment portfolio.
We have changed agents and tonight we sign the contract with them.
Ok so we are moving at the end of December so it does not leave much time to sell (house has already been on market for 7 weeks with another agent) I was thinking 30 days then if not sold put tenants in(6 mth lease then mthly) But as a sweetner quietly leave it on their books with no advertising and if they get it sold so be it.
OR Just lease it for 12 months and put it back on market. Our cash flow is in this house and have already refinanced it to buy in Perth. Any suggestion would be great. Thanks [biggrin]Hello Katfrat,
So your looking toi relist for 30 days? where abouts are you located?
Cheers Nathan Birch.
Hi Nathan,
Were in Officer, Victoria.I think it may help to ask yourself “why is it not selling?” Would the reason be alleviated in 6 months or 12 months?
Cheers, F.[cowboy2]Hi Foundation
the reason could be the Princes Hwy the bypass is due to be finished 2008 which could alleviate the traffic isssue.
Plan b is to put tenants in when we leave if not sold, and lease it till after bypass is complete.Sorry, but why is it a sweetner for the agents to have listings that dont sell? This is an agents worst nightmare. And with no advertising, what is the incentive for them? No exposure means no interest for the agent.
Have you had any offers at all? Fair enough, you may have had a dodgy agent to begin with if they had it for 7 weeks and couldnt sell it, but if you’ve been getting offers and youre not willing to accept them, maybe the market is giving you a hint that you may need to adjust your price just a bit.
Either way, if it doesnt sell, it’s probably worth just renting it out. However, in a smaller/regional town, locals know when properties were for sale and why they didnt sell etc, so maybe leave it until 2008 when the roads are done, and it might be easier to sell. In the meantime, youve got yourself some cashflow.(“,) $$$ HoLdEnCoMmOdOrE $$$ (“,)
to holdencommodore
We have had NO offers and have dropped price $70,000.00 in total since it first went on market in October. I cant wait for a offer to come in I would be excited and signing it!!!
Yes i understand your point about leaving house on their books while it has tanants. I didnt consider it from agents point of view with no advertising it would be hard. I have discussed this with another agent though and he didnt have a problem with it.katfrat, I would suggest your original agent has probably gone in with a high valuation just to get the listing and see what comes up (sometimes you find the right buyer and they’ll pay well over ‘market price’ to get a property). If you’ve had to drop it 70k, either the local market in your area has taken a real dive, or the market is telling you that you’re still too expensive. If you were getting offers, then at least you know what the market is willing to pay, but with no offers, you would probably want to think about a different agent with better marketing (which it sounds like you’ve done) or asking a reasonable ‘market price’ rather than starting a little bit higher and negotiating back to what you want. Unfortunately from the sounds of things, the buyers aren’t willing to pay your price at the moment. Plz PM me if I can help at all with referrals etc to a better agent
(“,) $$$ HoLdEnCoMmOdOrE $$$ (“,)
You must be logged in to reply to this topic. If you don't have an account, you can register here.
