Have you been waiting around waiting for the best time to sell? John Paranchi – McGrath from McGrath Estate Agents says NOW is the best time to do so.
Â
Watch the video to hear John explain further.
Like our videos? Don’t forget to subscribe to our Proptech Carpool series here.
Here’s the transcript of the video:
I guess listing levels are a little bit lower than what you've seen in the last couple years? -Yeah -Let’s say I’m a vendor, I’m looking at coming to market. What are the opportunities your seeing for me at the moment? Well, right at this point in time, I suppose, not many houses for sale. I think everyone's been spooked by, I suppose, the media. We've got a lot of distractions with elections, state and federal, we just had school holidays, Anzac Day and so on and so forth. So a lot of people are sort of taking a wait-and-see approach. What we have found though, is that the buyers are actually willing and able at the moment. I think interest rates have dropped voluntarily, banks are beginning to drop interest rates. The reserve is talking about dropping interest rates, and I think buyers realise that we're probably towards the end of the downturn. - Yep. - So buyers are thinking it's a good time to buy. The biggest problem they've got at the moment, is that they've got nothing to buy. - Yeah, sure. - If you look at clearance rates, clearance rates are up, and more and more properties are selling above reserve. So if I was a vendor, don't wait until spring like everybody else, you know? Get on the market now where there are fewer properties. For example, if there are five buyers out there at the moment they've got five houses to choose from. Come September, there'll still be five buyers, but they'll have ten houses to choose from. Yeah. Good point.
