For many buyers, the agent’s quote range is the first filter they use when searching for a property. But in today’s market, relying on that figure as your sole source of truth can lead to missed opportunities or wasted inspection costs.
Residential property is a unique asset class driven as much by human emotion as it is by financial logic. Understanding the difference between ‘market manipulation’ and ‘market unpredictability’ is key to maintaining your sanity – and your budget – during a campaign.
In this week's episode, Jarrod shares recent case studies from the Melbourne market to illustrate why the final sale price often defies the initial data.
- Market Fickleness vs. Underquoting: Dissecting a recent result in the Inner North where fear of missing out (FOMO) skewed the data.
- The unintended consequences of accuracy: Why accurate quotes often lead to failed campaigns in the current climate.
- The ‘Family Premium’ Case Study: How a specific buyer need in the Eastern Suburbs completely distorted the market value of a standard unit.
- Empowering the Buyer: Practical advice on using independent tools and professional advice to set your own limit, regardless of the agent's guide.
We enjoy providing you with free insights into the Melbourne property market and property investment more broadly. Thank you for listening.
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Investing in property makes sense. Investing in the right property takes knowledge.
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