In the last six months we have seen some surprising and in many ways incredible prices paid on the Surfcoast as people look to change their lives post COVID.

As agents we are continually getting asked what a property is now worth and it has been very challenging to place accurate figures on properties. Our response has been it’s now about process rather than trying to guess an end result.

February marks my 28th year selling real estate on the Surfcoast and I can genuinely say that I have never seen so many active buyers in the market at the same time. We will be releasing our next full Great Ocean Report shortly and will explaining in detail why that is, however the challenge for any agency at present is facilitating a process that allows all willing buyers to compete fairly for a property.

Nearly all the properties we are selling at present are finalising in either a public or private auction with generally of 3-7 bidders on each. The majority are private auctions and the skill is to get as many buyers on similar terms and at the vendors reserve before the auction starts.

The best thing about private auctions are the fact that the buyers get every opportunity to buy the property or pull out when they want to. It is very important that every buyer gets fairly dealt with because many of the buyers that miss out will move onto compete for our next offering, knowing that the process is fair and clear. Obviously this creates added competition for our next property and heightens the probability of a great result for our next vendor.

At the moment we are seeing FOMO (fear of missing out) becoming an issue in the psychology of the buyers. It is an emotion that is hard to counter when stock levels are tight and active buyers are everywhere. This often leads to buyer fatigue where some buyers simply give up looking after continually missing out or being priced out of the market. At the moment though, they are being replaced by new buyers who feel legitimate online casinos australia compelled to make a move or at least look because that’s what the rest of the herd is doing right now. As we know “everyone does, what everyone else does” because that’s simply the nature of humans. If you are thinking of selling at present you could just not get a better time to do so.