Published on July 20th, 2012
Buyers interested in ‘value for money’
Elders state franchise manager Vikki Seekamp believes that while the inter-state migration has been lower than in previous years, it doesn’t mean that buyer attitudes towards local markets were changing.
The number of people moving from Sydney to Melbourne and Queensland may have slowed down in recent years, but buyers still want value for money, according to Ms Seekamp.
The property expert believes that buyers are keen to take advantage of the region's reputation as a great lifestyle destination without the price tag that usually comes with this kind of real estate.
"The main thing that really motivates buyers is value for money – which means that properties need to be priced correctly," Ms Seekamp explained.
"Homebuyers usually have a figure in their mind about how much they are willing to spend and they often become an expert in that segment of the market. So it is important for vendors to be aware of this before entering negotiations."
A range of online resources and pricing tools have made it easier for buyers to work out the value of a home, which means that people with above-average expectations for the sale of their own home may be disappointed when the property is passed through at auction.
However, managing the expectations of both buyer and vendor is something that skilled real estate agents do well – it is just a matter of jumping on the problem before it becomes a serious issue or market deterrent.
With this in mind, Ms Seekamp has a few tips for would-be investors suggesting that they take a closer look at the gains to be made in rental markets along the Sunshine Coast and Gold Coast, as well as inner Brisbane and pay closer attention to what buyers are telling them.
D: Buyers are exerting their current influence on local real estate markets by demanding better value for money, according to Elders state franchise manager Vikki Seekamp.