Property Line - 08 Feb 2021
Andy Reid, Evelyn Clark
Welcome the Property Line once again! It’s Andy Reid here, real estate coach, commentator and auctioneer down here in Victoria, I hope this evening finds you well. It’s been an interesting little week I have to say, on the front line of real estate across the country. All of the numbers are just screaming success, with lots of heat in the market, lots of people are reporting that they’ve had a better January than they’ve ever had in real estate on the front line and it’s amazing to see.
Well this weekend just gone, showed us that there is a bit of a sting in the tail if we take this market for granted. There’s a number of certain things that we need to be weary of unless we want to make sure that we fall on our faces and actually miss out on opportunities. Whether we’re agents, vendors or buyers looking to transact in the real estate market.
On the vendor side of things a number of reports that I’m hearing are that vendors are starting to get a little bit ahead of themselves with regards to how hot this market is and look, it’s easy to do. If you are the king or queen of your castle and you’re seeing all this amazing news coming through that there are loads of buyers and hardly any properties you are entitled to think that maybe you can go for that bit more, right? Maybe you can go and push for that next level in terms of what you get for your property.
Ultimately, if you’re a vendor you need to pay attention to what’s going on in your market place, right now because if you don’t and you get too far ahead of yourself, you may have to wait until that 6 month time frame comes and goes before you get the price that you’re trying to achieve now. It’s an easy trap to fall into and I would implore you to make sure that you collaborate with your agent to make sure you get ahead of everything that’s going on, right around your property. All of the sale results that are happening, right now because they’re the figures that you really need to pay attention to.
Now on the buyer side of things, what we’re seeing is the lead times when it comes to getting themselves organized with their finance, is just escalating and escalating. There’s a real bottleneck because of the sheer volume of applications. Record numbers, in terms of amounts of money being lent to the space. It’s just showing up in terms of how long it’s taking for the process to happen for purchasers that are trying to transact.
Now on that, I wanted to make sure that you know everything that there is to know about what you can do to improve the process for yourselves. Predictability is the key word that you all want to cling on to because it’s the antidote of anxiety and I’ve got just the person to come on the show and give us a bit of a run down as to what we can look out for and what we need to do, whether you’re an agent or a purchaser to make sure that we’re doing everything we can to have a smooth process.
Evelyn Clark from Everlend is joining me once again on the Property Line and we’ve got an exciting announcement about Evelyn later on in the show but make sure you pin your ears back because she is going to give us some really good insight from someone who is very much hands dirty in the mortgage space. Make sure you tune in because the information that she shares, is so incredibly relevant if you want to have yourselves a less stressful process when trying to purchase, transact, sell or be an agent in the field.
Catch Andy Reid in the full episode above and every Monday night at 7pm AEDT, for Property Line.
08 February, 2021
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