Just when you thought that the doomed first quarter must lead to endless winter doldrums, a starting gun is fired and the race is on again.
Serious sellers are back. Serious buyers are meeting them. Serious money is abroad.
List and sell on the same day? What kept you so long?
It’s a wave that’s been dammed all year and now it’s breaking.
An end is also a beginning
On Albany Road, Ron Walker’s old home is being readied for a new owner while David Hains’ is awaiting a new family. Neither would have been available at any price if Mr Walker and Mr Haines were still among us.
There’s another at $40m+ soon be seen on Clendon Road.
Looping Loops
Red Hill. Nice place for a plug and play farm. Nothing to do. An offer of $9.5m. Then the vendor’s $10m. A week later, three new hands are waving a million more.
It’s not like digging potatoes.
More is more
Whernside Avenue. $33m. Just $4m more than what reason told us but must have is must have.
First quarter musings
Yes, there has been fruit left hanging for all that time since ’22. And usually for good reason.
Hyper pricing is good reason (what are some people on? Are their agents sharing it?). Lemon is another good reason. Agent incompetence is a frequent co-accused.
Have a for instance: Montrose Court. A failed EOI at $11-12m and it’s suddenly on offer again at $16.5m
! Just !
With a few ???s, Jeremy.
Lesson for the day: If a home has been unsold for too long, look hard at why. There will be a reason.
Buy Moule Ave! $6m off!
Last year they offered buyers a chance to set a record: $50m plus and the glory is yours.
No sale. No glory. Now it’s just $44m.
All the flounder in Brighton are not in the Bay.
It’s not like Toorak.
Trust and Trash
No surprise that real estate agents hover around the basement in the trustworthy stakes. Too many play too loose with the truth.
But there’s one that has been going low and lower in the trash stakes. It’s a long-established, long respected firm often seen at the centre of top end sales.
Now its reputation is being crucified by some very questionable practices. One rule agents do respect (and the REIV demands) is not to poach others’ clients when another agency has an exclusive listing.
The sole agent does all the work, spends maybe months wooing the seller, romances every buyer in sight and spends more and more time holding the seller’s hand.
Then a rogue agent (Pinocchio, is this your new trick?), sidles in and steals the sale.
It just happened in Toorak. The sole agent had introduced a client, the vendor’s hand had been shaken, contracts were to be exchanged two days later.
Then rogue agent appeared with another offer from another client. That agent had already been warned that they had no right to be there.
They did. The sole agent lost the sale. The vendor, who gave the sole agent exclusive rights, may be up for two very considerable fees.
What will the REIV do?