Property Update January: The Smart Way to Sell Your Property

Quick Points

As well documented, the residential market is now entering the next section of the property cycle. Is it a case of baton down the hatches?

Predictions

Of course, we know the main purpose of property predictions- to make meteorologists look respectable.

Currently, there is no shortage of “experts” trying to predict the Australian property market outlook.

Then there are all those online research reports telling you where to invest in the next growth hotspot.

Fact is: meteorologists tend to predict the weather better than property commentators predict future property capital growth.

Now, this doesn’t mean you shouldn’t listen to the experts.

You should…

But you must also understand the level of accuracy of their predictions and take that into account when investing or buying a property to live in.

Before I share them with you, I checked back on the track record of BIS’s past 3-year housing market forecasts and their track record is mixed.

Sometimes they overestimated property price growth, and in other years they were unnecessarily pessimistic.

To be fair…few researchers make definitive forecasts, particularly beyond twelve months.

BIS Oxford Economics is the only company I know which produces residential real estate forecasts over a three-year horizon and places them in the public domain in June each year.

So, who’s buying?

The slow down brings opportunity. Buying property on your terms is a trend which is gaining traction. Buyers are now seeing choice and opportunity to buy property that meets their requirements and budget. We are currently seeing solid enquiry from first home buyers and sophisticated investors.

Source: property update

— We do more than just buy property —

Selling Advocacy Service

Darlinghurst

Sold December 2018
Sale Price: $2,075,000

We were engaged by our client to project manage the sale of their investment property in Darlinghurst. Before appointing a selling agent and going to market, we advised our client it would be beneficial from a market worth prospective if they obtained a strata approval (The property was one title only). The owners agreed with the advice and instructed us to progress forward and manage the approval process.

The approval process involved dealing with town planners, certifiers, builders, engineers, surveyors etc. After a lengthy process, we obtained strata approval. Having this approval would allow a buyer the option to sell the property in one line or sell off the apartments individually.

We advised our clients to sell the property in one line as we believed that there would be solid interest despite the market slow down.

We proceeded forward and appointed a selling agent to auction the property. After a 4-week marketing program, the property was auctioned on-site.

Result: Multiple registrations, competitive bidding which resulted in achieving $25,000 over the reserve price. Having a strata approval in place was a key factor in attracting potential buyers. We worked closely with the appointed agent as there were multiple questions raised about the conditional approval.

What is the smart way to sell your property

If you are opting to sell, our advice is to think it through and assess if selling now is the right move. Ensure you get the right team around you if you decide to sell. This is where we can help! We manage property sales for clients – appoint agents, make them accountable and charge nothing to the client for our services. The right selling strategy and engaging the right team is key to guaranteeing a favourable outcome.

Learn more……. call us to discuss.