2019 is definitely going to be a buyer’s market due to several factors contributing to the cooler conditions.
It’s going to be great for buyers but how do vendors make sure, that they can still achieve a great price as well?
Here are some important tips from our property strategist partners:
• Source an agent that really knows their stuff. Like Warren Buffet says, "When the tide goes out, you will see who has been swimming naked”. It’s easy to be a successful agent in a bull market, but only the really skillful agents, will retain the same turnover in a weaker market.
• Spend your advertising dollars wisely. Streamline your marketing and make it very targeted.
• Know where your price sits in the current market by talking to other agents and visiting other auctions
• Research stats on your specific suburb and the average time properties are taking to sell. This will give you an indication of the type of strategy you need to employ to sell the property.
• Look directly at competing properties in your area and see how you can get the edge over them- get your property in peak condition.
• Keep settlement terms flexible and find your buyers trigger points- look for buying signals from each prospective buyer.
• If buyers ask for repairs, lower the price instead and be prepared to be flexible in negotiations.
If you are looking for great off-market deals, contact firstname.lastname@example.org and we will arrange for our property strategist partners to contact you.
Monday, 22 October 2018