Blog contributions are provided exclusively from Luxury Real Estate members throughout the world.
By Michael Marquette
From his blog: Australian Auction Clearance Rates Crash!
Auction Clearance rates for the week ending July 27, 2008 indicate a property market in crisis. Sydney’s Clearance rate of just 36.5 percent is indicative of the disparity between vendors and buyers, with some real-estate agents caught in the middle.
Luxury real estate agents’ skills in both marketing and negotiating homes are being put to the test and many are being found short. Agents with reputations for overpricing properties (the practice of overpricing is used by some agents to win listings) are struggling to match the prices offered by buyers with the price expectations of vendors. Agents with the ability to communicate the best strategy at the time of listing are best placed to negotiate the highest price for vendors in the current market – well before a property is seen to become “stale.”
Getting the right agent is the key to successfully selling your home. Given that the total number of sales is down and the list of unsold properties is increasing, it is more important than ever to ensure that your luxury home is in safe hands. Given that spring, and the usual seasonal increase in the number of listings, is beckoning I stress the importance of making the right decisions the first time!
Editor’s Note:
Michael Marquette is the co-Founder and Director of Marquette Turner Luxury Homes in East Sydney, New South Wales, Australia. Founded on Australia Day 2007 by Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Marquette has a background in medicine and a large retail and wholesale business. Some markets are facing tough times, and it’s good to be aware of potential issues as well as opportunities. The photo of the crashing wave is from www.flickr.com/photos/victorgeere/24539591 and it is the copyright of Victor Geere.
Bookmark It!
Trackbacks
Use the following link to trackback from your own site:
http://blog.luxuryrealestate.com/trackbacks?article_id=australian-auction-clearance-rates-crash&day=08&month=08&year=2008
-
By Michael Marquette From his blog: Luxury Homes Fail to Sell at Auction It has always astonished me how many real estate agents advise everyone they meet to auction their home home. In Regional cities like Newcastle this happens all too often wit...
-
It’s good news for property investor those interested in Australian property and the retired plan is to migrate to Australian. An exciting and prestigious international property event will take place soon in Kuala Lumpur and Penang. There have...
Submit Your Blog
To submit a blog entry for consideration on this web page for FREE, please send your materials to our PR Department: pr@luxuryrealestate.com
Comments
Dear Properties in Brazil,
Thank you very much for your comment about the picture. I'm the editor of the Luxury Real Estate Blog, and I actually added it to this blog entry. I thought it was an interesting illustration of the crashing being discussed in Michael Marquette's blog entry. I didn't mean for it to be shocking at all, but just to be a litle interesting and fun to look at.
Thank you again for pointing out that sometimes good intentions can turn out differently than expected. Have a great day!
Sincerely,
Robert.