Ah, the cold weather is upon us and leading South-East Queensland Property Analyst and Developer Chris Anderson says it’s his favourite time of year…Not for lifestyle, but for doing deals…
Mr Anderson says there’s usually a slowdown in both listings and potential buyers in the cooler months of year and that can open all sorts of exciting opportunities for the savvy property buyers and for sellers.
“Despite the Agent Hype, Spring is, to me, the time you least want to be out there- because everybody is and the competition to either buy or sell is fierce and that, in turn creates a very false and short-term look to a local market.”
“Most Real Estate Agents push for people to list at this time, because they misguidedly believe that selling at a time, when the place looks its best in pictures on their web site, will work.”
“Maybe it does work for them, but not necessarily for buyer or seller.”
Mr Anderson says a quick review of data shows that during winter, for sellers, there’s by far and away a lot less stock for your property to compete with.
“The market will tighten and prices adjust accordingly, and buyers take that bit more time and become more focused, so it is the perfect time to do a deal. A winter buyer can be the motivated buyer, so the deal is no doubt likely to be more “Solid’.”
“For me, Sellers who are smart will list in winter while they can make the most of less competition from other properties.”
Mr Anderson says Agents “love” a glut of stock on the market, which enables them to push their key self- promotion “open house” style of selling and batter buyers with claims of huge competition berating them about unrealistic competition levels across the catchment.”
“Sadly, it creates a frenzy of false activity at Auctions and Open Houses which in turn presents those Agents with the opportunity to manipulate buyers or sellers with what turns out to be a very short-lived spike to values and to markets.”
“In the cooler months, markets become more real – Because this lack of demand comes together with lower supply, so we get a more realistic grab on markets for both buyer and seller and that’s precisely the time buyers and sellers need to be at the table.”