Agent suggests a price. Offer is made. Vendor refuses. Sacks agent.
Vendor starts the process again. And again. Especially in EOI’s. Or spits the dummy and gets the tenants in.
Agents can be partly at fault by suggesting realistic prices to would-be buyers in the hope they’ll then be able to persuade their vendors that the offered price is as far as reality goes. But that’s where it ends. Again.
People who say they want to sell, but at “their” price when only a fool would pay it, are wasting everyone’s time. For nothing.
Enough. Stop it already.
Except below the surface (see below) the next three months are looking bleak at the top end. Those who may be tempted to sell have chosen hibernation until Spring drops in and gardens and buyers bloom. Or so runs the hope.
Tradition has it that buyers go walkabout in months starting with a J. Those at inspections over the weekend looked like they wished they had. Long faces. Baleful looks. If price follows perception, there may soon be calls for sunlamps and comedians.
Sellers? We’re hearing from more and more of them who are thinking of listing in August in time for Spring (it’s how we know they’re out there).
Why are they calling us? Price. They want to know how much they should sell for and they won’t rely on their agents’ estimates. We have had to remind a few that we are actually advocates and we’re not in a position to tell them how much our clients are prepared to pay.
And then their agent calls: “What do you think this is worth?” “Do you have a buyer?” “I need you to come through and tell me a price.”
We’re still busy off-market. Softly, softly …
Top-end apartments. We saw 25 of them last week, all asking $5 million and over. And their prices are all over. Outrageous doesn’t cover some of them.
Case in point: The Mercy. There are seven apartments for sale in this supposedly tightly-held must-have building. And some are fabulous and some are ho-hum. And some prices are just stratospheric.
Would people really pay that much? Why?
Nothing happens again. Now in Bayside.
Nowt of note to report South of North Road. See you next week?
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