Abundance of mini skips around Mosman

Abundance of mini skips around Mosman

If you happened to notice an abundance of mini skips around the Mosman streets this week, they are not there for new renovation work, they are simply assisting with the delivery of the this week’s Mosman Daily. It was a record edition with 153 pages of real estate. The much anticipated property extravaganza mustered as much excitement as being the official scorer for the touring English cricket team. It was a combination of new property offerings mixed with recycled properties that failed to sell earlier in the year, some vendors even embarking on their third marketing campaign. So it is safe to suggest, that what you see now will in all probability, be all that is offered for the remainder of the year.

For a few agents, having this volume of property available is the ideal selling market, and as Big Kev says “I’m excited”!! What we have now is a market that requires superior selling skills, and I must admit that we have been anxiously awaiting its arrival. Agents will have to work the database, and try to average around twenty private inspections each week. This takes us back to the good old days where agents actually used their negotiating skills as they locked horns with purchasers in the pursuit of household conciliation and arbitration. As the markets ‘duck and weave’ so do our selling strategies, but one thing that will never change in our industry is the six star service that we are offering our clients.

Many are asking, just what the property market is doing at the moment given that some of the dynamics are changing. The first factor is, that clearance rates peaked earlier this year at 85 per cent and currently they are around 60 per cent, which with respect, is where they should be. It is blatantly obvious that market participants are acknowledging the Reserve Bank’s request for a more stable market and yes, this is indeed another healthy sign. This is further acknowledged when auctions are recycled back on the market. These are classic examples of where the vendors got it wrong, as interested parties did not concur with the level of pricing expectations. What we are experiencing is a much more balanced market in terms of price realisation, and vendors need to accept the reality of the current market, as do some agents who are still somewhat ruthless, applying too many naughts on some valuations.

It will be a most interesting summer selling period and I must say that we are very confident of some excellent results. Others may not share my optimism. The proof will be in the results and I am even more confident that a few agents will excel in the current market conditions, and more than a few will flounder. This is already starting to show with some, who are describing the market as being diabolical. As they say the proof of the market is in the eating, and we will be dining out on it for quite some time to come!!

Never before have the words ‘mind over matter’ rung so true. It does help if you know what you are doing in the first instance… cheers and clink… ^__^

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