There is an area of the market that has been very important for the last three years, and that is, motivation to sell and motivation to buy.
When someone wants to buy or sell a property, in real estate language we talk about their motivation which is very important in our industry.
So many people say they want to sell if they can only get a price. That is an interesting way to look at trading real estate in a market where you may not get the price you want and, in fact, there is probably greater than 50% chance you will not get the price you want, and that is what we have seen over the last couple of years. During that time, I have talked about and will talk about in the future, ways to get a better price, or the price you want. Still the market has come off, or been fairly stagnant in the last couple of years and we have only just seen some price improvement this year.
I think it’s time to take an educated and realistic look at your property when it comes to selling and to the market when it comes to buying. So often I see people pulling out of deals because they are unhappy with the price they are about to receive or pay, instead of coming to terms with what the whole market is doing. When you look at other parts of the country, you see both massive boom but also property sectors having very hard times and we look then to the North Shore and think how lucky we are that there is always a buyer for your property, it is just a matter of price.
Selling a home or buying a home comes down to market price, supply and demand, and motivation.
There are ways that a good agent can influence all these sections, however that might only be anywhere between 1% and 5% maximum on average. The rest are market forces outside everyone’s control. Understanding the market is key in this environment and dealing with real estate agents who know what they are talking about has never been more important.
Getting the right advice and then deciding whether to move or stay are the two most critical parts of the sale process. Then acting on that decision, one way or another, and lining all the pigeons up is one of the best ways to ensure the best results in that market.
Selling a home where the average is between $1 to $2 million is not something you should do half heartedly or be ill prepared or ill informed about. It is a large transaction and should be treated with the utmost respect and with the utmost homework.
As you’ll see, Forsyth is again gaining market share, as it always does when it comes back to professional advice, dedication and hard work.
Look forward to looking after more of our clients in the future.