Fabian

understand the rhythm and flow of this market and work out what needs to be done, what isn't working.

So there's going to be a lot of fundamentals in this marketplace that play a huge factor, but let's not kid ourselves.

Clearance rates also play a huge part in the way the agent adapts to market change.

A hundred percent.

I tell a lot of the clients I work with, one thing you need to explain to the vendors when you're in that auction listing appointment in general, or whether you want to list an auction, you need to explain to the vendors that in that

post-pandemic boom late last year, the market was meeting the vendors' expectations because a vendor could set the bar high.

We had surplus bidders.

We had record low interest rates.

There was low stock levels.

That was a market where the vendor could demand a price and the market would pay it.

In this market, unfortunately for the vendors, they need to meet the market's expectations.

So you can see now that the shift has now gone towards the buyer.

And

And that's not to suggest that vendors can't achieve a great outcome or a premium price.

They've just got to be open-minded about being realistic about what they want to accept because the more realistic they are, ultimately, the more competition they're going to generate for their property.