A Buyer Agent give buyers the best chance of securing quality property – even when the market shuts down over the holiday period.
As scary as it is to think, there are only a few weeks left in the year; and even less time before the property market closes down for 2016. Buyers don’t have long left to secure property.
If prospective buyers don’t purchase anything this side of Christmas they will be lining up and waiting until late January or early February next year for new stock to hit the market.
So should you consider engaging a Buyer Agent to secure a property before Christmas?
Although listings have all but dried up for the year, there are still plenty of off market opportunities available that a Buyer Agent will have access to.
Selling Agents are currently signing on clients with the intention to take their property to the market in the New Year. Until that time the properties will be classified as off market – and a Buyer Agent will know they are available.
These off-market properties are prefect for buyers looking to purchase now. For the right offer, vendors can often be enticed to sell before an official campaign is launched, saving a significant amount of time and money and leaving them free to enjoy the Christmas and New Year period without the worry of having to plan for the sale of their property. Vendors sell their property, and buyers buy. Everybody wins!
Buyer Agents will also be able to connect prospective buyers with those vendors who have already purchased a property but haven’t sold their existing home.
Many properties do pass in at auction (don’t reach the vendors reserve) in December. If that happens owners may be forced to consider bridging loans, putting them under financial stress as their cash flow may be squeezed while paying two loans.
With the Christmas period effectively prolonging this scenario by another four to six weeks, the situation becomes even more stressful. Paying two mortgages at the same time doesn’t make for a particularly enjoyable Christmas so vendors may be more likely to consider selling their properties at a reduced price.
Aside from the financial cost, vendors will also have to contend with an increase in competition if they sell in the New Year. New properties coming onto the market will push older listings down the search results and the stigma of not having sold will become compounded.
For prospective buyers this is actually a good opportunity. They will be in a very strong position to negotiate and in the best case scenario can secure property for less than what they originally intended to.
Engaging a Buyer Agent is the best way of accessing these types of properties. They will know of off market opportunities or owners who need to sell immediately and connect their clients. Even though the market is slowing down there are plenty of opportunities – you just have to know where to look.
Get in touch to find out how National Property Buyers can assist you.