THIS small phrase is very relevant today given the current state of the property market in Queensland and in particular, Bribie Island.
External forces linked to the global economy, government policy and a drop in land values in the region have created a perception of caution in the minds of property buyers.
Despite this, some property owners continue to seek an inflated price for their property, and have unfortunately listened to the false claims made by some desperate agents and agencies.
According to Properties On Bribie Director of Sales and Marketing, Wayne Mac, owners who do not ‘have’ to sell should not have their properties listed ‘for sale’ in the market.
“We continually see over-priced stock being listed for sale because some agents just want the listing and tell owners what they want to hear.
“But what these owners are being told may not be factual,” Mr Mac said.
“It’s very easy to check the major property websites to verify if claims an agent or agency has sold 12 to 14 properties each month are true.
“The reality is that the current market is very price-driven and buyers have control of what they are willing to pay for a property.
“Because there is an oversupply of available stock to choose from, owners wanting to achieve the maximum price for their property are not making the right choices.
“Some owners have been trying to sell their properties for 12 to 14 months and still expect someone to fall out of the sky and pay top price for their home.
“Our agency has declined some property listings due to the owners’ price expectations and their unwillingness to listen to factual information,” Mr Mac said.
“One of the ways the property market dynamics can change in favour of the owners is for there to be a much more limited amount of stock available.
“Owners need to start making the right choices about their most valuable asset and should listen to the feedback provided by potential buyers and modify their expectations accordingly,” Mr Mac said.
“It’s the proven rule of supply and demand, and this can top the market either way.
“Currently we have high supply and low demand, but if we all work smarter, we could easily have less supply and therefore higher demand,” Mr Mac concluded.