David Scholler
speaker
38 appearances
1 recordings
1 series
first heard Jul 2022
last heard Jul 2022
David Scholler’s voice in public audio — every appearance, attributed to the second.
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Appearances
So I don't think they'll be completely swayed by one article.
It is interesting because we have seen prices softening somewhat.
So when we're doing comparable sales to educate our vendors,
We can't even really go back three or six months because some of those sales when the market was absolutely flying towards the end of last year are no longer relevant.
We're having to set our expectations a bit more modestly than even just six months ago.
Yeah, so I do think that expectations are adjusting.
We're fortunate to work with vendors that are motivated, so they've got a good reason to sell.
To go on the market in our area, you're looking at an investment of close to $10,000 in advertising.
But most of our vendors are still achieving a price that they're comfortable with and that allows them to move on.
They're certainly more cautious than they were last year, which was the strongest market that we've seen.
I've got colleagues that have been doing this for 40 years and they've never seen anything like it.
There was just so much urgency that buyers were just scrambling to get in, really.
They were willing to compromise on a lot more.
and they're willing to really stretch their budgets, but that has changed now.
So people are factoring in further interest rate hikes.
They're also factoring in the building costs if they need to renovate.
So they're becoming a little bit more discerning and just a little bit more cautious in what they're wanting to spend or willing to spend as well.
Great to talk.
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