Adrian Tsavalas from McGrath Real Estate explains all the vendor opportunities to take advantage of in 2019.
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Here’s the transcript of the video:
Let’s say I’m a vendor, I'm looking at bringing my property to market. I guess now, and probably back end of 2019 as well, you speak to a lot of vendors. What are some advantages or opportunities that you would see for a vendor in 2019? Right now, for a vendor going into the marketplace, there's more certainty around ‘if we meet today and we discuss a plan and you know, we think between X and Y is going to be of value’ you're likely to realise that come auction day rather than we peg the goal posts at X and we're selling a little bit lower because the market was sliding for so long, yeah? It was pretty difficult to predict where you would be, from first appointment, to sign up, to auction day. So, you know what you're going to get out of the market and you could be pleasantly surprised. So a vendor listing today is going to have a lot more certainty about their outcome if they you know, if they list today compared to last year. And I guess there’s going to be more competition as well. I mean more buyers coming through their property because as you mentioned before, there's more buyers in the market. Now is that another positive for vendors, that there's actually more buyers coming back into the market? Look, I definitely think that is a benefit. Having more buyer confidence is great. People that want to buy something, you would want to sell something, there's a deal to be done. So days on market should start coming back a bit, but the thing that's kept prices so stable throughout this period, and we have had a drop, but limited stock. You know, give people more money, they'll spend more money. But if they've got more choice then you know, it should just see prices sort of stabilise. So it's all about a, you know, how much stocks going to be coming on to the market? You know, if the buyer pool remains as excited as it is now for the next sort of 6 or 12 months and the stock pool doesn't really grow we should see a little bit of growth but I think now that buyers are confident, more vendors become confident, the stock levels will increase so it's going to stay pretty level playing field for the little while ahead. Yeah. So what should a potential vendor do to get their property in order or coming onto the market? Is it presentation? Is it getting the pricing right? Is it a marketing campaign? How do you do it? - It's everything - OK - So, you know, life's all about one-percenters. And if you get your presentation 1% better, your marketing 1% better, your agent selection 1% better, you know, that could be 5% in your outcome. Five percent’s a lot of money when it comes to selling a million dollar property. - Yeah for sure.