FOMO – Fear of Missing Out (and how to buy when everything is already sold!)
We are experiencing a huge demand for property to purchase in the Inner 10km ring of Brisbane and beyond with a regular occurrence for have 50+ groups through each Open Home and 10-20 Offers on the table. This competition is driving the property prices to exceed our Seller’s expectations by $10’s and $100’s of thousands of dollars!
So, how do you secure a home as a buyer in this hot Brisbane market when everything is already sold before you have a chance to look at it?
Firstly, know that there are very few bargains to be found in this marketplace. This means you’re going to need to get your game face on and get onto every real estate agent who services the area you are looking in so that you can ensure they know you’re looking.
We very rarely sell stock “off market” because we know it won’t get us the best price for our Seller – and we are employed by them to get them the best price the market has to offer. However, you’ll still find a handful of agents out there who are still selling property without taking it to the open market. Find these agents, and get onto their mailing list to purchase a property off market and potentially for less than could be paid with competition from other buyers.
If you are looking at property on any of the online real estate portals, make sure you are looking at what’s new on the market in your area Every.Single.Day. Miss a day and you might miss a property if the agent is too keen to get it sold, and doesn’t wait until everyone has had a chance to look at the property with a view to purchase.
We have our own way of ensuring that every potential buyers gets to walk through the property and has time to offer on any of our listings and we stand by our guarantee that any property being marketed and sold by us will still be available to buy on the first Saturday Open Home.
What does this mean? We ensure that we have not sold the property before you get a chance to see it.
What we are finding as feedback from buyers who are searching for property right now is that they aren’t being given and chance to compete in the competition which they are desperately asking to be included in – the purchase of a home or investment.
The top three things to ensure you are doing to be the buyer in this marketplace:
1. Call all agents in your area to let them know what you are looking for
2. Look at the online portals every day and call the agent as soon as a new listing goes live
3. Be there at the very first Open Home and let the agent know if you’re keen to purchase
If you ever have any questions about the buying process, you can call me on 0458 912 906 and I can help you with some knowledge of the marketplace and some extra tips for searching for property.