Radical strategy for post-lockdown real estate
A radical new post-lockdown real estate strategy is cleverly bringing buyers and sellers together.
The Australian property industry was one of the hardest hit by the coronavirus pandemic that effectively brought some sectors of the market to a standstill due to health restrictions.
Despite this, prices in many parts of the country have remained remarkably resilient, due largely to low interest rates, consumer confidence in the housing sector, government incentives and stimulus and a lack of stock.
It has created never before witnessed market conditions that have both buyers and sellers optimistic about their chances but uncertain about values. In turn it has brought the traditionally wildly varied December and January market conditions together with the 'list now, launch later strategy' taking a foothold.
"Barring economic factors, the best time to buy is always December and the best time to sell is January," real estate industry expert and Sky News commentator Tom Panos explained.
"In December, there is leftover stock, as buyers take a break to focus on Christmas. A dilemma for vendors right now is whether to list on the market before Christmas or after. But this December will run longer than others due to COVID.
"A great strategy available is called 'list now, launch later'.
"An agent lists your property without launching a full marketing campaign, allowing a vendor to catch buyers looking over the festive season, who may pay a premium price as not much else is around.
"It's always better to sell in isolation than in competition. People won't be travelling overseas for holidays this year and realestate.com.au says December and January is always a strong period for consumers on their portal."
The strategy allows both vendors and buyers to dip their toe in the market and get a solid idea of the current market value of properties. This soft approach also enables both sides of the transaction more flexibility, safety and discretion in looking at, or opening homes in a world still battling with COVID-19.
"If the property is not sold, the vendor already has photography, styling and advertising done for the new year with many agents readying to launch in early January," Mr Panos said.
Seller's agent Nick Muzha has nine vendors on his books embracing the 'list now, launch later' strategy.
Mr Muzha, of Little Real Estate in St Leonards, said the unique strategy allows both buyers and sellers to better understand a complicated market.
"It provides a lot of options," he said.
"It gives an opportunity for both owners and buyers to save time and money to achieve a sale at a premium price. It gives clarity to buyers as to what properties might come up and for owners it allows them to get a good idea of the market value of their home.
"At the end of the day we're here to help both buyers and sellers achieve their dreams over this period."
Daniel Lourenco, his wife Anita, son Cristiano, 2, and newborn daughter Valentina are looking to upsize the family home to meet the needs of their growing family and the list now. launch later strategy has allowed to look at homes such as 8 Hawking St, Artarmon, that is for sale through Mr Muzha.
"We really appreciate the flexibility and transparency this gives to the process. Mr Lourenco said.
"With a baby only a few weeks old we are still getting to understand what we want and having the homes shown at different times of the day fits in with our new schedule and can help to avoid some of the frenetic activity that can occasionally happen at open homes.
"It's great that agents like Nick are offering this flexibility to buyers and I think it is also an attractivefor the sellers too."
Originally published as Radical strategy for post-lockdown real estate