News & Media

August 20, 2014

Watch and learn

We encourage our kids to do it but don't always follow our own advice. Do you take the time to watch and learn?

It's thought that real estate is almost a religion in Australia, such is our universal obsession with style, renovation and the value of our homes. But what do you really know about your neighbourhood?

Because let me tell you, when it comes to real estate there are valuable insights to be gained from watching what's going on around you.

If you're thinking of selling then it is incredibly important to understand what's happening, not just in your own immediate suburb, but those next door. What’s on the market? What’s selling (and those are two very different things that we can discuss another time). What house size, land size and extra features are in demand? Watch the listing price and the selling price (again, often two very different numbers).

Any real estate agent will tell you that the first people through the door of an open for inspection are usually the neighbours and I don’t think I’m being unkind when I say that they’re generally NOT looking to buy. 

However rather than be frustrated by the nosey neighbours having a sticky beak I applaud them for staying abreast of the local market. Don’t be embarrassed to check out the neighbours but do be honest with the attending agent about your reason for being there.

The more you know about the market in your local area the better prepared you will be when it comes to listing your own home in terms of realistic selling price, presentation and styling. 

They’re all things that can take time to get right but they’re all things that can make a real difference to the speed and sale price.