Is Multiple Listings In A Street Good Or Bad?
“There’s a few houses for sale in my street, it mustn’t be a good time to sell.”
It’s a common assumption raised by sellers, and although it may not create the best first impression for buyers, it’s not always a bad thing.
Multiple properties listed for sale in the same street is a sure sign of property price growth. If a suburb is more tightly held and only has property selling there once in a blue moon, it usually means there is less growth.
If your sellers aren’t sure that the multiple ‘For Sale’ signs is a good thing, encourage them to speak to the neighbours or other people selling in the area. The local’s will share their experiences and profitable outcomes which could be the push you need to get the listing agreement signed.
CEO of property price predication firm realAs, Josh Rowe says of all of Australia’s housing stock, five per cent is listed for sale each year. This means it take about 20 years for all housing to completely change hands.
However, in high sale areas, the volume of houses for sale can rise to 8 per cent.
The seller is not the only one that can capitalise on the plethora of sale signs. As an agent, if you successfully sell a property in a short time frame, you can use your success story to approach those properties that have been on the market more than 90 days.
The buyers have left over from the first sold property may be willing to place their offer on the second property you have listed.
Tell us, how many properties have you sold in one street?