How to snag a bargain before the year ends
THE last week of the year is always a big time in the real estate industry.
It's not big in terms of the number of transactions, the number of opens or even the number of auctions.
It's big because everyone who hasn't bought or sold, and wants to, gets their last minute "shopping" done.
The years residual buyers and sellers can be very keen to get a contract wrapped up and under the tree before Christmas.
I recall many Christmas Eves being spent driving between buyers and sellers, getting their last initials on contracts, and then seeing their elation at the closing of the deal before heading in to the end of year break.
That added incentive usually means opportunity.
If you're the person chasing the sale, you will likely move a little more due to your willingness to close the deal.
I have watched many owners benefit from a determined buyer and, likewise, I have witnessed buyers get a "Christmas bargain" because they were able to present a clean contract to a seller who was equally keen to close out a stress-free sale.
My advice to those people in the market is to be clear on your position.
In every deal there are two separate lines of negotiation - one is the price and the other are the terms.
If the timing is important then move on your price but if it's not, don't be bullied by the Christmas deadline and hold your line on price.
All parties need to review the market conditions, their financial position and consider the alternatives if a sale is not made.
This should be the driving force.
Christmas is just a date on the calendar and it will be replaced by New Years, and New Years will be replaced by Australia Day.
From there it's Valentine's Day, International Women's Day and then Easter.
There's always something around the corner and having a plan and a clear position will ensure you walk away from a sale with a smile on your face.
Haesley Cush is a licensed real estate agent and an auctioneer for Ray White.