WHY did house prices jump $200,000 over Christmas 2020 into January 2021?
NOW house prices have jumped $500,000 or more to August 2021 …
APART from very low interest rates and government grants that benefited builders and pushed up house prices … competition from foreign Juwai.com buyers … and investors!
WHAT ELSE CONTRIBUTED TO THE HOUSE PRICE HIKES … FOR THESE SAME AWFUL HOUSES?
WHAT role did the Realtors play in all of this?
They set the prices … there may be a charade of asking buyers ‘what price would you put on this house?’
After having indicated ‘The Guide’ price …
How do we know any of this is so? When it is only what they tell us!
Early 2021 agents opened a home once or possibly twice a week for home buyers to view for as little as 30 minutes at each ‘Open Home’.
That’s all … in the house advertisement the agent may invite buyers to contact them and arrange an inspection … however when buyers contacted agents … we have learnt … they were then told that they would have to attend the ‘Open Home’; no other times could be arranged!
The ‘Open Home’ was marketed on two major real estate sites: domain.com.au and/or realestate.com
This marketing led, in some instances, to hundreds of attendees. This huge competition for each home would not be about creating FOMO, would it? (FOMO = fear of missing out)
Now in COVID August 2021 agents have had to reorganise the marketing with one to one private inspections …
SO NOW Agents are running ‘Pre Auction’ Views … ‘Expressions of Interest,’ and invite Buyers to price properties … WT ****!
Not only do Buyers do most of the work searching the marketing sites of Domain or realestate.com, and drive all over Sydney and beyond, but now they are expected to price properties …
WHEN will Buyers wake up? Why price up properties? Because not only does it mean a bigger mortgage, but will strip one of any $$ to update, and it means more Stamp Duty …
So stick to ’the Guide’! FFS!