Fabian Sanelli
speaker
229 appearances
4 recordings
1 series
first heard Jul 2022
last heard Oct 2022
Fabian Sanelli’s voice in public audio — every appearance, attributed to the second.
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Appearances
Well, unfortunately, buyers are still being picky and trying to time the market because it's going through that correction currently.
It's like buyers can sense a near opportunity to strike.
Now, in a market of uncertainty, which we're in, there's apprehension from buyers because they think that prices could continue to drop.
When in reality, if that is the way buyers are thinking, then staying committed to the auction could actually give you the best chance to buy.
If that's their logic, there will be fewer bidders, no?
So no one can outsmart the market.
And in over 120 years of real estate, no one has been able to accurately predict buyer behavior.
So the best time to buy is now.
Just look how quickly the market exploded post lockdown last year.
No one expected that and that caught buyers off guard.
And in essence, the market prices escaped them.
If you're ready to buy, just buy and the growth of the property will take care of itself.
Exactly.
No, I mean, I think there are definitely some instances and circumstances where it needs to be highly considered.
Now, there could be instances where it's just too hard to pass up, but it's important to note that this decision needs to be purely on the vendor.
They need to be comfortable with their decision.
And remember, as an agent and myself as an auctioneer, we are not their financial advisor.
only the vendor knows what's best for them in that sense unfortunately if you advise to accept or decline an offer pre-auction it can have huge ramifications on the vendor's end result it could have gotten more if it's declined but also the pre-auction offer buyer could not turn up on auction day so this is where we need to use market logic i like to always use the 10 rule to get a clear answer from the seller if a buyer is prepared to stop the auction
with an offer that's 10% above the next best offer, that may be the opportunity to consider it because that would mean that the auction would need to go 10% above the second highest bidder.
And in this market, I think that's very unlikely.
Showing 61–80 of 229 · page 4 of 12
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