Whilst the auction room was still very busy and we are still achieving great results, we are starting to see some vendors expectations creeping up. Is it any wonder considering how well the market has performed these past six months?
I have to send a word of caution to sellers though. Buyers are starting to feel the pinch and are firming up on how much they are prepared to pay. In the auction room, the negotiators work hard to get the parties to reach agreement. Currently we are achieving that but as we move through the normal cycle and things get tougher, both buyers and sellers dig their toes in and we tend to see less deals transacting and a greater chance of parties not reaching agreement.
Always keep your objective in mind. If it is to sell and move, then consider all offers very carefully. If it is to test the market for a premium price, you may be less likely to consider the offers presented if they don’t meet your expectation.