What is a "Buyers Market"?
This is an expression used in the Real Estate sales industry to describe who has the upper hand when negotiating a sale of a property. When salespeople use the expression - it's a buyer's market - they are saying the buyer in the transaction has the advantage in the securing the property they want at their price. Similarly, when the expression 'a sellers market' is used, they are suggesting the seller of a property is in the position of strength.
A negotiators market - or anybody's market - this is where we are at right now, if fact we are always in this type of market. Any salesperson who uses "it's a buyers / sellers market", shakes their head & looks glum or nods enthusiastically (it depends on whether you are the buyer or seller!) has just coped-out on being a true sales person with any skill!
We've reached an all time low, statistically speaking, in property sales in recent months in New Zealand. The usual spring flush of sales has the sound of a dripping tap and nobody has a crystal ball of how the market is going to pan-out over the next few months. So whether you're a buyer or seller deal with the market as it stands today. The main job of a sales person is to sell (surprise, surprise). Property Sales is the art of negotiating a win-win between two parties that is fair and reasonable. Who makes the decision the sale is fair and reasonable: the buyer and the seller! Who has the upper hand: they both do or no-one does.
Ultimately, make sure you get the right salesperson to market your property! These are some really cringe worthy sales speak I've heard recently - don't get sucked in:
'I've been selling for 25 years & I always market properties this way' - lets hope she's not still using her 1980's brick mobile!
'We are working with a database of buyers right now' - so why have you still got properties on the market over a year old?
'We have the largest / best / blah blah franchise' - buyers aren't that stupid & there are very few buyers agents working in New Zealand (I can only name one & they invariably cater for the international market)
'These buyers will only work with me" - see above!
Stewart & Associates, lawyers and Realtors are not like the rest - we have a genuine point of difference compared to traditional real estate firms - call us & compare!