When Covid first hit many predicted the Melbourne property market would take a hit and buyers would be in the box seat to secure property for a discounted price. However the reality has been far from the expected outcome with the market remaining in a sellers favor in particular for certain segments of the market. Currently in Melbourne we are seeing record low stock levels, simply put there is not enough property for sale to meet the demand of buyers. This is resulting in some astounding results across the market with family homes in particular being in hot demand and often selling hundreds of thousands above reserve. As this is usually an upsizing demographic, often looking to make that next jump it is vital you approach your buying strategy correctly to ensure you don’t get priced out of the pocket of the market you wish to upgrade too.
Over the past month we have secured 90% of our properties for clients off market, providing our buyers the opportunity to purchase without the competition of an auction and meaning our clients have not paid an inflated price. In this climate there are a few reasons why engaging a Buyers Advocate is so important starting with removing the emotion from the transaction, ensuring evidence based research into comparable sales are done, due diligence is correctly under taken to protect your asset and a purchase strategy tailored to your unique situation is in place.
So what is a buyers advocate?
We are a real estate professional who specializes in sourcing, evaluating and negotiating the purchase of a property. We work exclusively in the interest of the buyer unlike a Estate Agent who is employed by the vendor.
We see this as leveling the playing field, while most buyers may buy a couple of properties in their lifetime we purchase a large volume of properties which puts us in a better position for securing the right property at the right price for our clients.
As Melbourne begins to emerge from lockdown and more and more buyers get ready to buy their next home it is the ideal time to get in contact and let us outline how we can assist you with your next purchase.