I watched a couple of video's of Auctions that happened in Sydney last Saturday and comparing it to our Openn Neogotiation process it took a long time and the bids were like pulling teeth it took over 25 minutes to get a couple of those properties sold. Went down to $1,000 bids and there was atleast 20 of them.
The auctioneer mentioned in one of his podcasts that the market has just cooled off a bit and it is not as crazy as it was three weeks ago - good information as Sydney was appearing to be just going out of control. He auctions about 10-12 properties every weekend so I would consider him an expert. Very good negotiator as well.
Perth is not really auction (live ones) savvy they have really not liked them however if they like the property they have no other option.
Openn Negotiation we have done 6 of them sold 5 out of 6 all for good prices that the sellers were very happy with. The day after we took the last one property from openn we wrote up an offer on the Friday another on the Saturday and it was sold CASH for a price that the seller was very happy with. Just very unfortunate as the second person who put the offer in on the Saturday loves openn negotiation because of the transparency with putting an offer in not knowing what the other one is frustrating (that's why we like openn).
The market will always be the market if it's hot or cold if you have to buy the properties are there but you cannot dilly dally at this stage. Buyers are still thinking it's a buyers market they keep missing out. You usually get a few little signs but Perth is still experiencing a good market right now.
Units are selling but not necessarily fast.
Stay safe out there.
MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!
SELLING MOSMAN PARK & THE WESTERN SUBURBS!!
KEEPING IT REAL IS OUR MOTTO!!
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