Looking to buy now? Cut through the noise and put yourself in the driver’s seat.

If you’re eager to secure a new home before the end of the year, the countdown is on. Ask the right questions and you can put yourself in the very best position to buy and give yourself an advantage in the negotiation process.

As we move into the final listing stage for 2023, the market is evenly balanced, providing sound buying conditions. Agents will wrap up bringing new property to market around the week commencing November 13, which is just three weeks away. This means that property that is currently available is quickly starting to represent the majority of buying options that you’re likely to see until the market starts to find some momentum in late January next year.

 

Across our open homes we’re seeing a mixed response. A select group of properties is drawing in significant buyer numbers while others are only seeing foot traffic in the single digits. We appreciate that it’s hard for buyers to dissect if the property they’re interested in falls into the highly competitive category or is receiving modest engagement. As a result, we often see buyers sit back and remain unsure about how to approach purchasing. Quite often they get caught up in uncertainty and will miss making an offer on a property that not only suited them but ultimately sold at a price they would have been happy to negotiate around.

We’ve put together some pro-tips for buyers who want to cut through the fluff and give themselves an edge when looking to secure a specific property. Start with looking online to see how long the property has been on the market. Agents have a notorious habit of shaving a few weeks off the length of a listing in an attempt to make it appear fresh. As a buyer this is critical information to be aware of, especially with so many agents pushing auctions back past the original auction date.

Once you’re well-armed with this information you’ll have a foundational level of confidence to speak with an agent and ask some important questions, as outlined below.

How long has the property been on the market? This isn’t a gotcha moment however if the agent isn’t accurate, you can gain insight into whether they’re likely to be honest about other aspects of the property.

Is the vendor open to offers? If the agent advises that this is the case, it may be an indication that buyer competition isn’t particularly strong and you may have the opportunity to buy before auction.

Will the vendor accept a longer settlement? Whether you need a longer settlement or not is irrelevant – what you’re trying to ascertain is the vendor’s urgency to close a sale. If the agent advises that it’s strictly six weeks, this may indicate that the seller has likely purchased another property and may be more willing to consider reasonable offers that can meet the settlement terms.

If I offered 5% above the guide today, would the owner make a decision to sell? This is a great question to assess the agent’s body language and response. What you’re trying to ascertain here is whether the agent’s price guide is truly where they believe the market is sitting or whether the vendor is aiming for a figure considerably higher. The agent’s response can provide insight into whether the seller is aligned with the guide or whether the agent will require more time to align their client with current market value.

Forget about asking why a client is selling – it provides little valuable insight. People move for all sorts of reasons and a property’s price is determined by buyer demand rather than client circumstances.