I’m starting to think there is a real risk of staying determinedly ‘on message’ which is that people stop hearing what you are saying. It’s a bit like ‘crying wolf’ but sadly it’s evident even if what is being communicated is based on truth. And I think that’s a risk we might be facing across the residential property market. People might stop listening.
I get it. Hearing the same thing over and over can be tedious. It becomes white noise. It’s there but not penetrating. The words lose impact. Hopefully, that’s not what will happen with the message around vaccination and COVID, but I’d say it is a very real risk.
In terms of the Sydney residential property market, the message Morton has consistently communicated over the last couple of years is that value remains solid, but records aren’t guaranteed.
I know that might seem obvious, but with continuing evidence of the extraordinary growth in the value of Sydney property even despite the economic trauma of the pandemic, it is very, very easy for vendors to have equally extraordinary price expectations.
That confidence in the market is fantastic. The confidence our clients have that Morton will deliver them a record return is wonderful, but with all the confidence in the world we will deliver the very best price possible, our team will always be firm, realistic, and honest. Records can’t be guaranteed.
In these days when records are being set and value is growing it is still a message that is important for vendors to hear which is why we keep repeating it.
Setting realistic expectations is a crucial part of the job of a real estate agent. It’s crucial to attract the right buyers and it’s crucial to ensuring vendors don’t miss the opportunity to secure the best possible price the market will deliver for their property.
The thing is demand is strong. Listings are low. Growth is strong but our team will attest that every single sale still requires serious work to deliver vendors the best result. It is far from a given. Buyers are there and they’re keen, but they’re also prepared to walk away. Careful, strategic negotiating skills are as important now as they have ever been.
That’s my message this week. Don’t risk it. Keep listening.