The open home flags have been getting a proper workout the last week or so, flapping around sideways in the wind, half of them nearly taking off.
It's been cold enough in Queensland lately to make us wonder if the investors have gone into hibernation. Ever since the federal budget announcement, enquiry from that side pretty much dropped off a cliff. Maybe they were worried we were heading into a bear market and figured they'd sleep through it.
Either way, we hope everyone's rugging up and staying on top of the sniffles doing the rounds with the kids back at school.
Speaking of staying on top, EOFY is wrapping up, so if you've spent the last few weeks digging through receipts and checking where everything sits, it's a pretty good time to find out what your property's worth too. Only takes a couple of minutes.
Interestingly, a few investors have finally come out of hibernation in the last week or so, or at least their buyer's agents have, sniffing around on their behalf. Still early days, still not huge numbers, but it's a noticeable change from what's been a pretty one-sided market.
Home buyer enquiry, on the other hand, never really dropped off. All the rate talk, the budget, EOFY, none of it seems to have put actual home buyers off. But there's a difference between enquiring and committing. Right now, it feels like a lot of window shopping. Which, fair enough, packing the kids in the car and doing the rounds of ten open homes on a Saturday morning is a great way to spend a weekend, if you've got no intention of buying… Do you call this fun?
However, we're seeing far more requests for second inspections than usual, people wanting another look before they'll commit to anything. Sometimes a third, usually a quieter midweek one, minus the kids this time.
Like everyone else, buyers are seeing the headlines. Most economists still seem to be leaning towards another rate rise next month. Whether it happens or not, it's certainly influencing buyer confidence. At this rate, the newspaper's probably more useful for starting the fire than telling us what's next.
Which is highlighting two important points when it comes to selling right now.
One, presentation matters more than it has in years. Buyers have more choice right now, and it shows. They're picky. A feature wall from the Howard government, or a garden full of gnomes bought during an EOFY sale, used to get overlooked. Now it's apparently a deal breaker. Buyers are starting to have the luxury of being fussy, and they're using it.
Two, picking the right agent matters more too. The days of putting a sign out the front, running one open home on a Saturday, and fielding multiple offers by Monday are pretty much gone, at least for now. These days it's about actually working the enquiry, so a buyer on the fence doesn't quietly vanish just because nobody followed up.
Which is why in this market, midweek open homes can work really well. We started running a midweek open home alongside the usual Saturday, and more often than not people show up, sometimes more than the weekend crowd does. At the end of the day, being available when the buyer wants to look, not just when it suits us, is what gets a property sold. Turns out a decent chunk of people are free on a Tuesday morning. Who knew.
Honestly, it just feels like a normal market again. One that might take a little longer to find the right buyer, and where agents need a bit more skill to get the deal over the line.
That's not a bad thing either. It just means good presentation, good communication and working with great agents are becoming important again.
We're always happy to share our skills and experience, preferably over a hot coffee. Mostly because it's an excuse to be somewhere warm for half an hour.
P.S. If you're selling and happen to have a garden full of gnomes, we might be able to help you find them a home. I'm a bit of a collector.