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News Barry Plant Manningham insights: Credentials are Crucial

Barry Plant Manningham insights: Credentials are Crucial

Despite the slightly lower clearance rate registered in Melbourne last week, buyers continue to compete for good-quality properties. Although rising interest rates continue to be a point of conversation, we are finding that strong population growth figures and low winter stock levels are continuing to push the market north.

Yet not ALL vendors are finding their buyer or their ideal price. In what some might call a “2-speed market”, it seems that the best offerings in each category and price range are doing very well but those properties which are being viewed as less desirable or perhaps overpriced, are missing out.

So …. what can you do as a vendor to make sure you’re one of the successful sellers?

For starters, check your agent’s credentials.

Every agent has access to all the sales data and can talk about the results but how many of the local homes has your agent actually sold? How well do they know the properties? Do they know the circumstances behind each result? These are all critical factors in positioning your pricing in the market.

Agents will also often talk about their database. It’s often portrayed as a magical group of buyers drifting around in the sky. A database is made up of buyers who have missed out on similar properties in the area. Buyers who we know are looking for a certain type of home, within a certain price range. If your agent has had several successful sales in your neighbourhood, then that database will be so much deeper and more effective.

Make sure your agent is happy to discuss all your selling options and find the method of sale that matches your situation and property. It is certainly NOT a case of one size fits all. Ask your agent to walk you through the benefits of auction, expressions of interest, private sale, and even off-market before you embark on your sale.

Finally, you are well within your rights to ask how your agent plans to negotiate your sale. How are they going to deal with buyers who make low offers and justify them with talk of higher interest rates? You pay your agent to represent you in the sale. You don’t want someone who merely brings you the offer the buyer chooses to make and then takes back your response. You need someone prepared to stand their ground and create a better result.

You and your agent will need to work as a team. There should be trust, confidence, and mutual respect between you. Gone are the days when you should choose your agent based on the promise of a higher price or a cheaper fee. Dig deeper when you interview your agent and the rewards will follow.

If you would like to discuss your options or timing for an upcoming sale, the team at Barry Plant Manningham is always ready to listen and help. “We’re just people, helping people

Please see below our impressive sales for the week!

Currently under offer and will be sold soon:


Spiro Drossos

Managing Director

Barry Plant Eastern Group

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