All Topics / Help Needed! / What does the plus mean on a pricing?

Viewing 9 posts - 1 through 9 (of 9 total)
  • Profile photo of RoseRose
    Member
    @rose
    Join Date: 2004
    Post Count: 27

    Hi everyone!

    I am going to look at a unit priced at $155k+ – what does the plus mean – does it mean they may sell it for minimum $155k ? Should I bid a little more than the minimum like $158? The unit is to be sold via private sale if they get the price they are looking for.[blink]

    Any advice would be really appreciated.

    Thanks.
    Rose

    Rose

    Profile photo of susieq22susieq22
    Member
    @susieq22
    Join Date: 2003
    Post Count: 23

    Rose,

    After working with some real estates, I have found that the plus sign eg. 155,000+ would be the lowest price the owner would be happy to sell at and they are looking for a buyers over this price. If they don’t get any buyers then they might take less than this price. Hope that helps.
    [suave2]

    Profile photo of melbearmelbear
    Member
    @melbear
    Join Date: 2003
    Post Count: 2,429

    Yep, my understanding is that they ‘want’ more…. But that doesn’t mean that you have to offer more.

    I think if they want a higher price, they should advertise at a higher price…

    Cheers
    Mel

    Profile photo of CeliviaCelivia
    Participant
    @celivia
    Join Date: 2003
    Post Count: 886

    Agreed, Melbear. I was told by several agents that this is the minimum prize the vendor will accept.
    But one agent told me: Ignore the +, it sometimes means what the vendor wants, not what the market value is.

    Celivia

    Profile photo of petersemailpetersemail
    Member
    @petersemail
    Join Date: 2003
    Post Count: 13

    I beleive the plus can be no higher than 10% of the sale price. Check this with the agent.
    Another argument is that they promise the seller a higher price than they can get. So the agent advertise for a low price to get people to look and then try to push the price up.

    Profile photo of rebecca2rebecca2
    Member
    @rebecca2
    Join Date: 2003
    Post Count: 54

    Hi all,

    I have just finished a real estate rep course, and put a reno on the market. I belive that the + means that the vendor wants more than the amount stated and that they believe the market is still rising. They use this + to gain more for the property rather than the usual less when a straight figure is listed. e.g . If the amount is $200,000 to sell then they will probably get less than than $200,000 but with a plus the figure they should get more.

    Beck.
    “You have to leave your mouth open for a very long time before a roast chicken flys into it.” Early Proveb.

    Profile photo of CeliviaCelivia
    Participant
    @celivia
    Join Date: 2003
    Post Count: 886

    Exactly, petersemail, that can happen.
    The same can also happen with a prize-range.

    I know of vendors who were selling and the RE agent used a price range, but there was no way the vendor would have wanted to sell at the lower 2/3 of this range. I think in this case the lower part of the price range was merely set up to attract potential buyers.

    Celivia

    Profile photo of kay henrykay henry
    Member
    @kay-henry
    Join Date: 2003
    Post Count: 2,737

    Here’s an article by Neil Jenman on “Bait Pricing” which includes the “offers above” thing you’ve mentioned, Rose :

    http://www.jenman.com.au/BS_S_Bait.php

    kay henry

    Profile photo of AUSPROPAUSPROP
    Participant
    @ausprop
    Join Date: 2003
    Post Count: 953

    yes as much as his self placed pedestal position is irritating, I do have to agree with what he has said there.



    Extensive list of ‘Off The Plan’ property available for sale in Perth.

    John – 0419 198 856

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