The combination of tighter lending practices at banks, a jittery Sydney property market, and the prospect of a Labour Government abolishing negative gearing on the local front, coupled with the China/US trade war, rising rates and falling bomd and equity markets globally, has made this the most difficult time to buy and sell real estate in over a decade. With this as a backdrop, we decided to engage Dave and Bindi to sell our apartment in Mosman, Sydney. Comparable properties to establish a valuation were difficult to find, as our apartment was unique -which while great to live in, ultimately limits the pool of interested parties. Dave and Bindi discussed a range of price expectations and strategies in the context of the current state of the market both broadley and specifically in our area. Dave and Bindi’s strategy was to market the apartment and take offers rather than go to auction. My wife and I were comfortable with this, as we were of the opinion that an auction would not generate the optimal outcome, given what we knew would be a small pool of ibuyers the property would suit. Ultimately, it was a hard grind, but we just accepted an offer within 4% of our expectations, with the buyer securing what is a fantastic property at a fair price. We couldn’t be happier with the outcome, and know that without the flexibility and persistence of Dave and Bindi it is unlikely we would have sold the property at all. Let alone for a price we were happy with.
David Murphy
