Cooling Off Period.

It’s funny, as I was thinking about an appropriate title for this weeks note it suddenly hit me that the very subject matter kind of describes the market as a whole…love that!

In 2021 the mere mention of a ‘cooling off period’ would elicit belly laughs from real estate agents across the land chortling ‘how dare they? What fools?’ Oh how things have changed…

The 5 day cooling off period exists in standard contracts to ensure that buyers have the chance to calmly and safely consider their position, confirm finance, get legal advice etc. etc. Ewwww…how boring?

Thanks to a raging bull market the ‘cool off’ went out of fashion like mens skivvy’s and the 66w era was upon us. Ahhh the blessed 66W…the safe word of real estate. Honestly, you could put an agent dosed up on phenergan in an isolation tank and whisper ‘66w’ and they would twitch and rise like a deal hungry vampire.

Stick with me. In a boiling hot market many buyers were treated with disdain and given no time to think. Now agents need to do such unthinkable things like follow up, rapport build and come up with creative solutions to get deals across the line. It’s good though, its starting to sort out the wheat from the chaff.

For sellers entering a buyers market it pays to offer flexibility on terms and to hire an agent that has a history of looking after buyers.

I’m not using the clutch here and we don’t like to brag but one must celebrate their achievements, well done team for putting 5 sales together this week including a sizzling record result on Gordon Street.

And just look at some of these beautiful new listings!

Until next week,