Standing at the front of the market as an auctioneer of more than 20 years usually gives me a good insight into how things are going.
But taking a read on the general market at the moment is harder than Jeff Horns head.
I heard a friend of mine recently describe it as a Goldilocks market, its not too hot, it’s not too cold.
There seems to be pockets of the market that are firing, while there are others that I believe are greatly undervalued.
Late last year and early this year I felt the high end market looked poised to move.
The gap between the renovated property and completed build would close. I am pleased to report that the prestige market has woken up and is building in strength.
Over the next few months you will hear of unprecedented sales across Brisbane and I am aware of some thumpers in the inner city market that will make every renovating homeowner stop losing sleep over the upgraded Italian taps.
I have also seen some great value. Specifically three-bedroom units or good quality apartments in the inner city.
Not all units are built the same. Some developers pride themselves on their attention to detail, while others couldn’t care what happens after the money hits their bank account.
Driving this is also the reality that the vast majority of sellers (and agents) are only advertising on the internet, which ironically is making the search for the right property even harder.
It brings to mind the expression “can’t see the forest for the trees’’.
Quality is getting lost as buyers are just shopping for their real estate on line and short listing properties based on price. This is true for sales and rentals.
It genuinely seems like real estate sellers/landlords are relearning the “you get what you pay for” lesson.
When it comes to selling property a cross media marketing campaign and an experienced proactive agent have never been more important and in a market like this the wrong combo could be very costly.
Relying solely on the web sites is having a negative affect on prices and is seeing sellers and landlords race to the bottom to attract the buyer/tenant.
In recent years I’ve been encouraging owners to re-engage with print advertising, deal with an agent who works proactively with buyers/tenants and one who knows the art of follow up and will work around the clock.
There are agents and there are agents. There are units and there are units. As the race to find the buyer/tenant gets more complex sellers and landlords should be uber conscious that when it comes to property cheap is usually very costly.
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