Spring is upon us. We’re starting to see some buyer confidence return.

 

Open home numbers are still down on what they were last year, but last year was absolutely mental.

 

Data has shown that house prices have come down on average 4% across Brisbane, as compared with 3% at the same time last year. What does that mean? It means that although some properties are hitting the market at inflated prices, this has always been the case and prices aren’t dropping as much (on average) as everyone thinks.

 

The reason for this, some people simply don’t have to sell unless they get a price.

 

This is the reason why I make sure to give the best advice to my clients at the start. If I were to lie about the price I thought their property was worth and tell them an inflated price, then they go to market thinking it’s achievable when really it’s not. They probably/possibly won’t sell.

 

A lot of agents are happy to do this, hoping the seller says “well, we’ve come this far, might as well sell and get it done”.

 

I would rather give someone the best advice I can. I try to give a “low price, most probable price, and dream price”. Most people who sell with me, end up selling with a most probable or a dream price, however, every now and then, especially when the market turns do we get it wrong. After all, we are human, we’re not perfect, we do make mistakes.

 

Last year when the market was moving up, I was wrong quite a number of times, where it sold above where we thought it would in some cases $100,000-$150,000. My sellers weren’t complaining then.

 

However, when the market comes down and someone’s property sells for $100,000 below what we thought, people tend to get a bit gnarkey.

 

I’m usually so honest about the pricing that some sellers will turn to the agent who is giving them an embellished price, only for it to sell right where I said. I don’t dwell on it too long, that doesn’t help anyone, but I do tend to feel for those sellers who got their hopes up. Unfortunately, an agent can tell you whatever they want, it’s all hot air until the property is actually on the market.

 

When we sell real estate both buyers and sellers need to understand, there is no Recommended Retail Price, so price guides are best to give, and even then I give with a word of caution.

 

I’m an engineer by trade, so I do look into facts and figures quite deeply, but there’s always something I miss. The fact of the matter is, I’m a terrible liar too, so I think if I were to embellish prices most people would see straight through me. Plus, I have grown a brand on my great sales in the area, my honesty, and my integrity. Yes, I’m not always right, but I try to give the best advice possible.