Property Point

Momentum. It’s a thing in physics, sport, business and life.
Now I’m not going to attempt to give a physics lesson but, basically, if you have a big, fully loaded concrete truck rolling down a steep hill … that fella’s got momentum.
In sport, when your team is on a roll, you’ve scored the last few tries or goals, the ball is bouncing your way and everything is clicking, you feel unbeatable. You’ve got momentum.
In business, when you have goals and a plan and the team to produce the results, you are on your way. When you get the details right and the world starts to notice you and want to use your services, you are getting traction. When word of mouth spreads and customers start coming back, you’ve got momentum.
In life, when you get the mix right with your health, relationships, work, leisure and enjoyment of the world you’re lucky enough to be living in, things start to click. You get up early, do some exercise, eat healthy food, focus at work, engage with friends and family and enjoy being with your partner … you’re on a roll. You’ve got momentum.
Momentum is also an important thing in real estate. Yes, it’s important in a business sense for a successful agency such as Gardian. But I’m talking here more about working for a seller, getting the best result for your client.
There are different ways of negotiating and doing a deal. It depends on the circumstances. Sometimes an offer has come in low and you can’t do a deal with that person because the offer is too far from the mark. Being willing to walk away can be a good negotiating tool in those situations because it can call the buyer’s bluff.
Or that low offer might lead to a slow, strategic discussion that methodically builds to a point where you finally find out where the buyer is in terms of their best price.
But in the very strong market that Mackay finds itself in, momentum plays a big role in getting deals done.
There is a lack of supply and a great deal of demand, both from local people looking for somewhere to live and from investors who feel this city is underpriced.
When we list a property for sale, the interest is immediate.  Local people want to inspect the property straight away and investors want answers to questions about rates, body corporate, rental returns ASAP.
The offers come early and, for buyers and sellers, it is a quick, intense ride to when a deal is done … often in a day or two.
That’s the momentum. Sellers need to realise that the issue is not how long they have been on the market, it is how long the buyer has been in the market. Buyers who have missed out on earlier properties are ready to go and want to get a property.
There’s a pack and they are hunting.
This is when the seller needs to understand that the momentum will create the best result. The buyers feel the competition and they put their best offers forward. This is not the time for a seller to cool their heels and think, “We’ve only been on the market for three days”.
It’s hard to stop that concrete truck rolling down the steep hill. It’s tough to beat your team when they are working like a well-oiled machine and they’ve scored the last three tries. They have momentum.
When selling real estate, competition creates the momentum. It’s not like a concrete truck rolling down a hill, but it’s still best not to step in front of it and try to stop it.

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