20 July 2022
Here are out tips for successful buying and selling in today’s market. Following the market correction over the last 8 months and the recent transition into a more stable market, along with a range of other external factors like interest rates, inflation, and general media hype, we can understand why buyers and sellers are taking a more cautious approach. There is a sense of hesitancy around, and it our job to build relationships with everyone we meet, guide our clients to make better decisions and to facilitate a successful property transaction.
As your trusted agent in these changing times, we wanted to pass on some useful tips that may help educate and make for a more seamless property transaction when the time comes. Let’s start with buyers:
- Get to know your local agents – they are at the coal face of the market, and once you meet a few and get talking about market conditions, you will get a good sense of what is happening in your local area.
- Communication is a two-way street – stay connected with your local agents, register to be on their database for upcoming listings, tips and general market communications. It is always a good idea to update your agents if your search criteria changes.
- Be transparent – at Cunninghams, as part of our dedication to best practice, we are completely transparent throughout our campaigns and especially when it comes to negotiations. Our offer and acceptance process is something we take a lot of pride in, and something our buyers should welcome for its transparency.
For our sellers, we understand that when you list your home, you want to achieve the very best price for it while having a stress free, smooth process with your agent. While it may be tempting to list your property with the agent who tells you that you’re going to achieve the highest price, we suggest digging a little deeper and asking some questions around how that price is going to be achieved, what strategies are in place and what recent case studies can back all this up. Our advice is to:
- Start with the best advice – choose your agent wisely, someone who can offer sound advice based on facts, relevant data and recent results. If you get this wrong, it can cost you a lot of time, effort and money.
- Ask your prospective agents about their strategies – in today’s market, you can’t leave anything to chance, especially when dealing with what is possibly your biggest asset. For this reason, every property deserves a commitment to clear and well-developed marketing, pricing methodology, communication and negotiation strategies. Over the last 31 years in business, we have developed and refined our strategies and processes with our clients in mind, just ask us!
- After meeting with your selected agents, ask yourself some of the following questions:
- Does this person/company resonate with me?
- Can I envision us comfortably being on the same page for critical decisions?
- Am I just a number or does this person really care about me and my result?
- Do I believe they have my best interests at heart?
- Does everything make sense and has everything in the strategy being explained properly?
- And lastly, listen to market feedback – buyers in the market are the best gauge on what your property is worth. Having had a correction, we can understand that owners would like to believe that these sky-high prices are still achievable, and while there is always an exception to the rule, most of the time the current buyers in the market will give you a great indication of your property value at that point in time.
We hope this has helped any hesitant buyers and sellers our there to take the next step. So, get to know your agent and most importantly, ask questions!
For more detail, visit our buyers guide here, and our sellers guide here.
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