Level Playing Field.

In times gone past this newsletter has been dedicated to battle weary buyers offering tips on how to win the day in hot market conditions, with a change of tide I felt some tips for sellers now seemed appropriate.

Before I get into that, I just wanted to officially welcome our new ‘men’s only’ agency to the local marketplace…tally-ho gents! (I get it now….that last brand name was waaaay too girly).

Enough of that…

Whether we are currently experiencing a genuine market correction or just normal pre-election jitters I think people currently looking to sell/buy need to focus on the big picture.

Firstly, prices have softened in most categories in the last eight weeks. This means you may get a bit less on the way out but it pays to remember you are probably going to gain that ground on the way back in. It’s a relative market, it’s not the price that matters but your changeover. Big winners in this environment are people looking to upgrade.

Secondly, market appraisals are not valuations. Sellers should be super cautious about making financial decisions based on agents’ estimates. Stock hungry agents will make lofty promises to win listings, many agents are getting it wrong. Proof of this is the clearance rate. If only 60% of auctions are selling it means 40% of people aren’t getting the price they expected when they listed.

In many instances selling before buying now makes more sense. With increased volatility and a less predictable playing field the risk of a second move is less concerning than a serious financial miss hit.

Become the buyer that is ready, sell your property for the best price and go hunting…this puts you in the box seat and minimizes your risk. It also avoids selling under pressure, trust me that’s no fun at all.

With ANZAC Day approaching I’d like to pay a special tribute to our servicemen and women. If there is one thing we all agree on it’s how lucky we are because of you.

Lest we forget.

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David Murphy