Emotional Brisbane Property
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What is the episode's focus and market snapshot for Brisbane property?
It's the Real Estate Podcast across every state, city and town of Australia.
And welcome to another episode of the Real Estate Podcast, available on iHeartRadio and also Spotify and Apple Podcasts or wherever you get your podcasts from. It's a Thursday, the 30th of June for 2022. And coming up, we're talking emotional problems. property buying versus due diligence of recent sales and good evidence of factual market value in this moment of time what is the best practice and we'll talk to a Brisbane auctioneer that had to deal with both of those last weekend If you are celebrating your birthday for the 30th of June, Mike Tyson is turning 56 today. And there's some talk of Mike Tyson getting back into the ring. Don't do it.
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All right, let's have a look at your weather around Australia.
How are emotion and due diligence described as influencers on property prices?
First, we go to Sydney. Good morning to you. Expecting a cloudy but dry day, a high of 19 degrees. Melbourne also a little bit of cloud around but dry and 13 is your forecast high. Brisbane, one or two showers today for your Thursday and expecting your high of 21. And in Perth, expecting blue sunny skies and your high of 19 degrees.
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Well, we know the market has changed, corrected, softened, gone south, whatever people are saying. But it doesn't mean, as we've said before, that it's widespread and it's affecting all houses right across the country. And how much is emotion rather than fact? still fueling a price point with different properties? I suggest probably a lot. And people can also say, I would never pay that price on a property now because I'm looking for a bargain. Someone who has a really strong emotional connection who might say, I'm in it for the long haul and what I probably pay now is is possibly a snip in 18 months to two years from now. So let's welcome in this morning Brisbane's only female auctioneer, Tara Calley.
Who is Tara Kelly and why was she invited to discuss Brisbane auctions?
And good morning to you, Tara. Great to have you on the podcast.
Good morning. Really good to be on here. Thank you. Thanks for having me.
So in relation to people having a mindset on picking up a bargain versus someone emotionally invested who is looking for the long haul, as I suggested, these are two vastly different buyers. And last weekend, you had a property that went to auction that you were calling where I think you had this same scenario taking place and playing out. Tell us a little bit about what happened.
Yeah, sure. Look, we get this a lot, the emotional buyer versus sort of the buyer's agent unemotional. When emotion comes into it, I guess they will reach a lot higher than someone who's just out there looking for a bargain. Certainly in this market at this point, there is quite a few more unemotional buyers just thinking that there is that bargain out there to be had. Unfortunately, within the inner city suburbs, it's not quite that way just yet. We haven't seen any bargains yet. And I think vendors are still holding their prices quite high. And certainly, around New Farm, it's a very, very popular suburb. And we had six registered bidders on the day.
What happened at the recent New Farm auction that highlighted emotional buyers?
And I guess the market will pay what the market will pay. And for this gentleman, he'd been to an auction prior. and missed out, which creates even more emotion. He loved the street versus the buyer's agent who sort of just looked at the figures and looked at the past sales. And often this doesn't really present with the price. You've really got to add emotion in there and someone who will be willing to pay. And like you said before, they're in it for the long term. They're not going to walk away and look back in 10 years time and say, oh gosh, I paid 50 grand too much. Because by that point, we would presume it would be worth a lot more than that.
Yeah, and in this case, it's a buyer's agent who will, of course, bring the knowledge of stats and the due diligence into the shape of price structure versus, as I said, the long-term buyer who loves the area, the street, the home, and is just prepared to pay that top dollar.
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Chapters
6 chapters
1
What is the episode's focus and market snapshot for Brisbane property?
0:02–1:13
2
How are emotion and due diligence described as influencers on property prices?
1:13–2:41
3
Who is Tara Kelly and why was she invited to discuss Brisbane auctions?
2:41–3:54
4
What happened at the recent New Farm auction that highlighted emotional buyers?
3:54–7:41
5
How should buyer's agents adapt their price strategy in the current market?
7:41–10:32
6
What trends are Tara seeing for premium quality homes and auction activity in Brisbane?
10:32–12:18
Speakers
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