It’s not hard to understand why a strong market is exciting for our team. We are busy. Very busy. But with every booming market comes the inevitable speculation and hyperventilation about when it will end. Sigh. Will we never learn?
As we emerge from lockdowns and start adjusting to the new world of living with COVID it’s going to be interesting to see where we revert to previous patterns. What have we learnt to do differently during COVID that will endure beyond lockdowns?
A key thing for me has been the reality that even the most carefully considered, cautious plans can come undone. I mean, a global pandemic for goodness’ sake! That’s not going to be on even the most in-depth planning scenario.
Take each day as it comes and be satisfied with the best you can achieve on each of those days.
It doesn’t mean I have abandoned my penchant for planning. I think looking ahead for opportunities and trying to identify pathways to success is vital. I like to set goals. But equally, if the last 18 months have taught me anything it is that I always need to be ready to act. Now. Don’t miss today because you’re looking to tomorrow.
And to be honest I think that is a key message for those looking at the residential property market right now.
It’s why I get so frustrated when in a strong market the focus shifts from reporting the numbers to commentary around ‘how long will it last’.
Yes, there are key strategic factors like monetary policy that can be factored into a forward plan that will influence market strength, but for every guaranteed response there will be a million unexpected motivators.
So don’t overthink it. For most properties, an auction is the best option to secure the best possible result the market can deliver on the day. Talk through your objectives with your Morton agent and they will help set out a plan whilst always being ready to take advantage of any unexpected opportunities. That’s what’s happening when a property sells before auction.
Our team have learnt to be agile. To plan meticulously for every property scenario whilst recognising the need to be ready to adjust to the unexpected. It’s not about ‘when will it end’. It’s always about what can we do.