Understanding Offers in a High-Demand Market

At Noble Avenue Real Estate, one of the questions buyers often ask our real estate agents is, “How much should I offer to get the home?”

In the current high-demand market, this question can be challenging to answer. We want everyone to be able to purchase their dream home, and we want homeowners to sell their homes for a price that will allow them flexibility and financial advantage in their own new home buying journey after the sale of their current home. This blog will cover strategies for making effective offers, understanding market dynamics, and tips for both buyers and sellers in the current Perth real estate market.

For Buyers

Understanding Price Guides and No-Price Marketing

At Noble Avenue Real Estate, we advertise properties without a price, however at home opens we do our best to provide interested buyers with a property price guide to help make the decision-making process easier. This guide may change throughout the time the home in on the market due to demand and the recent sold prices of other listings in the local area. While properties are advertised without a price can be challenging for buyers to determine an appropriate offer, no-price marketing lets the market set the price anda allows buyers to be strategic.

In today's fast-paced and unpredictable real estate market, the value of flexibility cannot be overstated. Buyers offering lower prices but with more adaptable terms and financing options often present a compelling case for sellers seeking certainty, speed, and reduced risk. At Noble Avenue Real Estate, we understand the nuances of these negotiations and are here to help both buyers and sellers navigate the market effectively, ensuring the best possible outcomes for all parties involved.

Tips for Making an Offer

Know Your Budget:
Start by consulting with a broker or bank to understand your borrowing capacity. Knowing your budget is crucial. Get your finance pre-approved to strengthen your position when making an offer and give you confidence in your budget.

Do Your Research:

Utilise price and sold filters on our sold homes page, and other real estate portals like reiwa.com or realestate.com to compare the property you’re interested in with similar properties in the area. Even if they are sold at auction or advertised as “offers closing by.” This helps narrow down your options to properties you can afford. Ensure you’re comparing like-for-like: similar land size, number of bedrooms, and amenities like a pool. This provides a realistic view of market values.

Make an Attractive Offer:
Beyond the financial aspect, ask the agent what you can do to make your offer more attractive to the seller. Consider offering a longer settlement or the option for the seller to rent the home back while they find a new home. Flexibility can set your offer apart.

By following these tips, you can navigate the Perth real estate market more effectively and increase your chances of securing the property you're interested in. We encourage you not to be discouraged during this time. Try to enjoy the home buying journey, and remember that although you may sometimes miss out on what you thought was the perfect home, new listings are available every day.

For Sellers

Leveraging Market Conditions

The current real estate market in Perth, particularly in suburbs like Carine, Hillarys, Iluka, Burns Beach, and Currambine, is characterised by high demand and competitive offers.

Benefits of No-Price Marketing

1. Attracting More Buyers:
   • No-price marketing creates curiosity and attracts a larger pool of potential buyers, increasing the chances of competitive offers.
2. Setting Market-Driven Prices:
   • In a rising market, this strategy allows buyers to set the price, often resulting in higher-than-expected offers.
3. Flexibility in Negotiations:
   • Sellers can negotiate terms that suit their needs, such as longer settlement periods or rent-back options, providing more flexibility as they transition to their next home.

Market Insights and Local Expertise

At Noble Avenue Real Estate, our deep knowledge of the local market allows us to provide valuable insights and guidance. Our agents have extensive experience in the local market ensuring that both buyers and sellers receive the best possible advice and support.

Questions About Buying or Selling Your Home?

Contact us here.