Based on Reported Auction Results*

Winter Sales Remain Strong  

If higher success rate numbers are anything to go by, then the market throughout winter and into spring has only gained in strength. We continue to see weekend auction results coming in consistently in the mid to high 70’s percent range with several results being back above 80%. These figures are nothing short of incredible. For observers, it’s worth noting that there will always be properties that experience some difficulty finding a buyer during an auction campaign… Reasons for this may include:

• a property type that has an oversupply in the market
• poor immediate location – busy main road, amongst industry etc.
• generally undesirable presentation and layout with little further potential
• vendor with price expectations that are unrealistically high

When these factors are taken into consideration, it can be seen that to maintain a sale rate close to 80% effectively means almost every “half decent” property submitted for sale found at least one buyer prepared to pay the vendor’s price. Not bad, when you think about it! What can a buyer do about it?

If you’re a seller, these results are good news. If you’re a buyer, it’s not good news. The reality is, this is the way the market has been for some years now and it explains why we as Buyers Advocates in the past have future clients approach us that have been looking for a year and more, without success. It’s tough buying property when the competition is abundant.

For buyers, there are few solid points of reference from which to launch a successful buying campaign. The problem with buying a property is that nearly every single aspect of the purchase of a next property inspected, will be different to the last one a buyer inspected. What is meant by this? Simple. The selling agent will be different. The individual property will be different. The method of sale will not always be the same. The level of buyer interest from other buyers in any one property is always unpredictable – even to the selling agent. The value is variable. A buyer’s personal level of desire will vary…. The list goes on. It can all add up to a buyer not quite getting their approach right when it’s needed. On the face of it, buying a place looks and sounds pretty simple, but not at all.

Buyers advocates/buyers agents cost money, but experienced operators increase a buyer’s chances of success considerably – if they are involved with the whole search and buying process with the client. Good advice and guidance starts from day one. An ultimate positive outcome is almost assured … and in much less time.