By Rich Harvey, CEO & Founder, propertybuyer.com.au
The time leading up to Christmas and the weeks following it are traditionally quiet in the property world as the focus dramatically shifts from dollars and deals to rest and relaxation.
Everyone’s keen to head off to enjoy time with the family and soaking up the sun, so the wheels of the real estate machine that whirl relentless all year long start to slow down from about now onwards.
But they don’t grind to a halt. There’s still plenty of buying and selling that takes place this time of year – and there are some exceptional opportunities for those who are in the market.
Fewer competitors to beat
Those looking to buy a home now will begin to notice fewer competitors at open homes and Saturday auctions. This presents a prime chance to find a firmer footing and be in a stronger negotiating position.
Selling agents also find themselves with less to do as work winds up, so with fewer potential buyers floating around, they’re extra keen to focus on those who seem serious about purchasing. You’ll feel a bit like a rockstar when you turn up to inspect a property at this time of year, with the red carpet rolled out to welcome you.
Shopping without as much of a frenzy takes the pressure off buyers, meaning they can keep a cooler head while weighing up their options. But it doesn’t necessarily mean that time stands still. There’s often an air of urgency in the market this time of year too.
An eagerness to sell
Many people trying to sell their home over the coming weeks need to sell their home, and so there’s extra motivation to find a serious buyer and get a deal done before Saint Nick arrives. Prospective purchasers might try their luck getting the best price possible on their own, but reality shows that a top-notch buyer’s advocate can put them in the best possible position to negotiate.
It’s the buyers’ advocate’s job to make deals happen rain, hail or shine – or Christmas – and they work in varied conditions, navigating a whole host of circumstances whether the market is up or down, firing or stalling.
By virtue of handling hundreds of purchases, buyer’s agents also learn how to spot signs of distress. They know how to sense if there’s an urgency to sell that can be capitalised on. They also understand the cities, suburbs and streets they’re working in intimately, so they appreciate what a home is really worth – and how to secure it at a reasonable price.
Deals you don’t see
On the flip side, many vendors decide to sit on their hands until the New Year – and usually until after Australia Day. Those who are selling have much less competition and so there are fewer homes for remaining buyers to choose from on the usual listing portals.
But, in reality, everyday buyers don’t have access to ALL the properties available for purchase. We see a solid number of off-market and pre-market deals come our way during the festive season. All those relationships we’ve built up over the years really come to the fore this time of year. Sellers – eager to trade but not wanting to upend their Christmas celebration with open houses and nagging questions from friends and family about why they’re selling – will look to offload their home quietly.
There are also homeowners who are keen to capitalise on the summer period to secure a quick, painless and discrete sale away from the glare of the market. Being able to find these deals – and to explore them with fewer competing buyers around – could be the best Christmas gift you ever receive.
But like with most off-market properties, you need to know about them. A buyer’s agent is able to tap into their vast network of contacts to sniff out the homes you’ll never see on real estate websites.
Trusted advice
As well as finding you your next home or investment, a buyer’s agent can lean on their extensive experience in all kinds of markets to give you a sense of what to expect.
They can prepare you for the different realities of buying at this time of year. For example, banks have fewer staff around to assess mortgage applications or conduct pre-approvals. Solicitors shut up shop, so conveyancing can take a little longer than usual to complete. It might take a while to line up a building and pest inspection.
A buyer’s agent can help you navigate the additional complexities that Christmas can bring.
All wrapped up
Perhaps the most appealing benefit of using a buyer’s agent – regardless of the time of year but especially at Christmas – is that they do all the heavy lifting for you. They unearth the opportunities, they assess them against your goals and demands, they crunch the pros and cons, and then they go into bat for you.
All of that hard work done for you means you’ll be left free to enjoy the holiday period knowing that the purchase is completely taken care of. What more could you want for Christmas?
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