oc | Tuesday 11th August

They are Back!

How was your week? To be frank, I have really liked a lot about our Covid-19 time. There has been more time, my mind is clearer and my focus more meaningful. Relationships for me are better and I love my work even more.

Back in Business with a Volcano Auction at 1 Kyarra, – See ya later online – back to the real Melbourne deal!

Executive Summary

  1. Its 6.00 pm Saturday – what a week
  2. Street Auctions are back
  3. Marketnews Multi List. It’s free to advertise, more buyers and costs no more
  4. The National Trust of Victoria has lost its way

Its 6.00 pm Saturday and what a contrasting week.

On the same day the biggest of our four banks were predicting a Armageddon over the next one, two or three years with CommBank’s headline topping the ladder with a 32% drop – we were quietly withdrawing from a 5 buyer bidding war on a Hampton home (circa $4m) that went well past a balanced agent quote. Mmmmm … predictions and modelling –  don’t you just love the usefulness they provide day to day.

However, the week was in no way a downer. In addition to our current client buying list, we launched six new buying and selling campaigns – all of them covertly – with possibly one going public later this month depending on feedback over the next week or two. The rest have potentially longer time frames as we search with flexibility for bespoke solutions rather than apply blanket actions – blanket applications which would statistically find a solution for 1 or 2 of these six and then leave the other 4 or 5 with significant flesh wounds – mentally, emotionally and financially.

Bigger picture

You may begin to notice that there will be an increasing amount of buyer, seller and agent hurt (as expectations are not met) and human nature will decree that their hurt must result in movement. More and more people jump and re-jump as they increasingly don’t get what they want.

Movements occur when we think we are the exception to the rule and for most of us, that is simply untrue. The jumping around due to unmet expectations usually leads to poorer decisions giving more negative results, until eventually the screw can turn no further down and the jumper plateaus on a ledge or a bottom, looking up at where they once were and where they still could have been.

This may be you now or it may be you in the future. It’s not too late.

We encourage all our clients to be clear on goals and expectations – to understand risk and risk management and yeah, have a go – but softly, softly at the start and have a plan B. We encourage lower-key stickability on a good plan, with occasional calculated adjustment.

All of the above is not our excuse to underperform – we dislike the way it’s all about us on success and all about client choices and the market upon failure.

This market is about patience and timing, about strategy and research. It’s also about bravery but with a fallback.

So in this market every day give me a doorknocker over an algorithm, give me a micro fact over macro modelling and give me a person I can stick with rather than be hiding from.

This is a market where tough conversations will always give you a better result than a hard-luck story.

If your raison d’être is one of constant movement, you may well struggle in what’s ahead in the short to medium term – more than ever a considered or no response, a hold the line; may well serve you better than a quick reaction.

In 35 years I have seen many falling markets work well for those who bought and sold with their eyes open.

Take your time, start at the beginning – and as you start, please ask the right bespoke questions in the first place.

Not the blanket questions of  “What’s the market gonna do?” or “How much is it worth?” or “What’s the fastest way out?”

Thought I would get out of my trackie dacks and roll on down (with permission) to see the great stager, Nick Johnstone strut his stuff – first up after a spell.

Massive Crowd (ok, 8).

Nick said he wasn’t hand holding, kissing or cuddling, which was disappointing for me – but we all have to live in unhappy times.

He calls for bids and it’s silence – Some things never change …

Aaah yes, we are back.

Eventually there’s 4 Bidders. Deal done under the hammer at $2,310,000 on a $2,050,000 to $2,150,000 quote. The quote, execution and result were perfect for all bar the three underbidders!

Pre Auction Interview, Counting, Hammer and Thoughts Afterwards videos below – around 1 minute each.

Marketnews Multi List starts next week

Free to buyers and sellers to advertise

More buyers, more homes, more deals

Costs no more

Let’s get this market started!

Congratulations Cr Martin and Bayside City Council (The Age)

We salute you and we support you on your stance against involuntary Individual Heritage Orders.

In our opinion, The National Trust has totally lost its way with its support of involuntary Individual Heritage Orders.

We support the need for the National Trust in public buildings and community precincts but what they and “their heritage industry” is doing to ordinary mum and dad homeowners and elected councillors, is not Community Heritage, is dead wrong and needs to be called out.

The “heritage industry” is currently “pressuring” councillors to

  1. themselves be paid as experts,
  2. to go through a community like a raging bushfire, slapping IHOs on some homes and leaving others untouched for like a bushfire, no rhyme or reason and
  3. Also like a bushfire, under climate change, these heritage consultants are coming again and again – with the call for more and more heritage studies and more and more mum and dad ratepayers are being hurt by these IHOs.

What is an IHO?

An Individual Heritage Order (IHO) – is a council order placed on an individual home restricting renovation and development due to an assessment by an outside person, usually an architect as to the look and feel of a home. Whilst in some cases it is welcomed by the individual owner and we support that – in many cases, an IHO is against the wishes of the actual owner, as it significantly reduces the value of their home and makes renovation options more restrictive – we strongly oppose those orders on financial and mental health and human rights grounds.

Funnily enough, we support heritage studies with community decisions into public buildings, large precincts and homes bought with existing heritage and voluntary individual heritage orders.

However, heritage is not a decision for experts, it is a decision for the community and we need to protect our elected local Councillors from the bully-boy headlines.

If you as a homeowner are in receipt of an unwanted Individual Heritage Order

  1. Go straight to your councillor NOW – don’t think it will go away by ignoring it.
  2. If you can afford to fight it – you will need a solicitor and a heritage consultant (yeah we see the irony)
  3. If you are experiencing extreme hardship. Beyond Blue 1300 22 4636 or www.beyondblue.org.au

Read more on our National Trust article

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