Ray White Southbank and Port Phillip agent Michael Pastrikos has just notched up his biggest month of sales in his seven year real estate career.
“Everyone is either optimistic or very negative right now, and I am positive which people need because all the conversations are how this crisis has negatively impacted day to day life. This has affected us all, so it’s how you adapt, so be patient and be kind. I just sold more than $5.4 million worth of property in March, and just in the last 10 days I sold $3 million worth across four properties, and that was after the pandemic was declared,” he said.
The former mechanical draftsman knows in this market both buyers and sellers expect to be treated with empathy and patience.
“You need to be agile as buyers and sellers need our support more than ever before. Be attentive is my advice and be kind. I sell a lot of apartments in Southbank where the median price is $560,000 and I’ve just had my best week and month ever, and the biggest sale was to an investor.”
A local investor bought 76 Coventry St, Southbank for $1.441 million on March 21.
“This was one of the last on-site auctions and we had four registered bidders and three active bidders, one an interstate buyer from Sydney. The eventual investor is a local and will lease it out.”
“Sellers are receptive to the market and have adjusted like everyone else and they are aware of what is going on.
“Many buyers are still in real estate mode and they are still looking to buy. No doubt the inquiry numbers have dropped off but it’s such quality leads who are interested and who need your assistance.”
“You have to respond to the market and listen to what your buyers are saying. This week I have four listing appraisals all received in the last two days and I have three new listings coming on in a few days. The one thing we haven’t seen is prices compress so that’s a very positive sign as interest rates remain very low.”
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Ray White Group
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