It has been a while between posts.
And not because nothing has been happening.
In fact the contrary is true.
We’ve been riding the bucking bronco of our real estate market. Sometimes hanging on for the wild ride, but often having to dig the spurs in to get some semblance of life out of a veritable dead horse.
January was post Banking Royal commission and as the money dried up, sales volumes dropped.
Winter, was, well winter (Perth people are allergic to rain, it’s a fact).
Spring, the banks shifted a little and money began to flow. The Buyer activity coming in frenetic staccato bursts.
Still the market is a two headed beast, and in the last few weekends I’ve opened houses with 30 groups through the door and others where the crickets were the only thing making a noise.
Picking the market is a crap shoot, as the Yanks say. But there are still some fundamental truths.
- Owner Occupiers are the market.
- Presentation matters. Before you sell, do the maintenance you should have done over the life of the property. Yes, it sucks. Yes, it could feel expensive. But not as expensive as no sale at all.
- There is no “hope” and no “wood duck buyers”. The market is discerning and no amount of waiting and wishing will deliver a premium price, or the price of 5 years ago. Get on the front foot, own the market, and be the property that sells. Or watch others sell around you.
- Trust matters. Buyers are skittish. You don’t need a real estate agent. You need a horse whisperer.
- Knowledge is power. Your agent needs to be able to show Buyers real value.
- No tricks. No snake oil. No schemes. Authenticity, disclosure, integrity and quality sells (the current crop of world leaders are the obvious exception to this rule).
So get the truths right and first weekend sales are possible. Multiple offers are still possible. The Buyers are out there in droves. Hovering raptor-like, ready to swoop en masse on the same tasty morsel. Get it right and this is a great market to sell in, as so many others are getting it wrong.
For the record October was a busy month for us. 11 sales in total.
In October we also settled a premium off-market transaction opposite Raphael Park at $1.35 million. The very happy owners also sold in Victoria Park with Baston & Co. Property with a contract on their home after the first home open.
The Buyers are out there.
Derek Baston.
