What's Happening in the Market
What's happening with the market? This is a question I get asked every week by many people. Well - YES, the market has cooled off, the boom is over, the market is now more balanced and not a seller only market. The BOOM did last for a long time, almost 3 years, so it's about time things slowed down a bit. It's always easy as a real estate agent to sell property in a booming market, but once the boom is over it's back to doing what a good real estate agent needs to do to get the job done.
What is that you may ask? back to basics which is calling all the buyers back to get feedback, encouraging 2nd inspections, encourage offers from the buyers, making sure the marketing is spot on, conducting open homes every Saturday until the property sells and most of all having and building a good relationship with your Vendor/Seller. Giving them as much feedback as possible from the buyers and advising them where their property sits in terms of value to the buyers in the current market conditions. This is not always easy but being honest as an agent and providing good clear communications regularly is what needs to be done. This provides the seller with the tools to make a good informed decision when accepting an offer.
Property is still selling and there are still plenty of buyers are out there looking, but when selling your home, you need to be realistic to the marketplace and meet the market to sell your property. You will know within the first 4 weeks what your property is worth and remember your first offers are usually your best offers. Don't think waiting will bring you more money, this is usually the opposite, especially in this market. If priced right, marketed well to where the buyers are, presented clean and neat and supported by a good agent your property will sell. But some patience in timing is something you may need as it could take 1 week to 12 weeks or longer, so be patient and let your agent do the hard yards and get those buyers through the doors, the buyer will come, but remember you have to be priced right against your competition. If you would like to know what your property is worth at the moment, feel free to call me for an obligation free market appraisal of your home.