Navigating the Melbourne Auction Market’s Waiting Game for Potential Opportunities

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26 Apr, 2024

By Apollo Auctions

It’s a bit like the famous Phil Collins song “In The Air Tonight” – you can sense that something is potentially about to happen, but the challenge for a lot of clients is waiting for that iconic drum solo to hit!

The volume of buyers is certainly there to provide vendors with opportunities to do well, and it is showing in the volumes of traffic going through open homes, however a lot of these buyers appear to be in a holding pattern with an apprehension to commit to a transaction.

Now, whether they’re waiting for the next interest rate pause, or whether their brokers are telling them to hold off for some reason is uncertain, but what is very clear is that unless agents create greater urgency through their marketing and follow up, then these buyers will continue to window-shop as opposed to coming in to buy.

Business pipelines have been hit and miss as well, but all of these little indicators make you feel that a storm is brewing, a very productive one that can help field some amazing returns for agents… so crack on planting those seeds with potential vendors now!

This snippet is from our quarterly auction report which includes a feature auction, available for download here.