First real auction results

Today’s auction result gave us a better indication of the market compared to last week given the amount of properties auctioned. This week we saw 295 scheduled auctions whereas there were only 110 last week. With an auction result of 57% is tells me that buyers are seeing value and vendors are prepared to meet the market.

As per my blog on the 19th December “I’m putting it out there that I think now is a good time to buy in the Northern Districts and it’s hit the bottom and is now levelling out – and you won’t know until you look back and realised you missed a great buying opportunity.” I still believe this to be true and I don’t see the market booming again at all but I do believe we are seeing the levelling out begin.

Since our blog in January we have since sold another two properties and have another one under contract. Why are we selling and others are not? I really feel it comes down the energy of your agent. Do you want someone who is all about doom and gloom and constantly putting out negativity? What purpose does that serve? Nothing positive can come of it. At WigginsKeenan we don’t worry about what other agents are doing, or even what the so called “market” is doing. We focus on finding the right buyer for the particular property we are selling and we focus our energy ensuring we know and sell every detail there is about the property.

We all know that during the boom times if you could stand upright and had a pulse you could sell a house. Now it’s about actually “selling and negotiating“, knowing your product and how it benefits the buyer – some would refer to it as “old school selling”. We love it, we are super passionate about our clients entrusting us with one of their most valuable assets and they are always our priority. For us it’s not a “transaction” – we are dealing with people, and for anyone that has bought and/or sold you know how emotional and stressful the process can be. You need an agent who is on your side and is also able to recommend what to do and why.

Another point I find really perplexing is agents who have more than six listings at any one time. At WigginsKeenan we won’t take on any more than six listings – we can’t if we want to be at each open home (for the whole time) and we find in this market it’s absolutely imperative. It enables us an incredible opportunity to discuss with buyers their opinion on the property and also allows us to find out more about the buyer such as their current situation and other properties they might be comparing to. It allows us to create rapport to ensure buyers know we are available to answer any questions they may have and also selling them benefits about the property they may not be aware of.

I nearly forgot to mention about the findings about the Royal Commission because in my opinion there isn’t much to mention, I thought it was soft – and looks like the only winners were the big four banks and the losers are the brokers who will be out of business if the government implements the Commissioners recommendations. Great if you own bank shares…..not if you have shares in anything to do with mortgage broking or are in fact a mortgage broker.

We will keep on eye on the coming weeks and look at private treaty sales in addition to auction results and look forward to regularly giving our opinion on how we believe things are tracking.

If you are thinking of selling and want an agent who has your best interest at heart please call or email us for a chat.

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Important Covid-19 Update

The real estate industry is considered an essential service at this stage, therefore private buyer appointments and online auctions can still go ahead – with additional restrictions.

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