Up until 12 to 18 months ago my personal experience over many years with many clients with different criteria has been in the Southern Highlands, (on the very odd occasion of taking just one week), was usually six to eight weeks. Though now that the real estate market here has become very tight, with little stock and higher prices, it is taking six weeks to three months. After this time, decision making from my clients seems to become more difficult – not easier, and that is where a buyers agent can help. There will be no 100% perfect property, it’s just a matter of find the Goldilocks spot, recognising this and making that offer. I help some clients recognise that they are somewhat now stuck, and help them over the wall. After acceptance, there is a sigh of relief from my clients. Decision made, offer accepted, settlement date agreed upon and now the search is complete and they can relax.
“I think visiting about 25 properties over the course of a month or so is more than enough for a single property market,” Jeremy Sheppard, creator of DSRData.com.au says.
Sheppard adds that you’d get all the market intel you need within 2-3 months.
“Professionals can get all their research done within a week. But I think even a month of research might be a bit too quick for a novice property investor. On the other side of the coin, if you’re not making offers within three months, you’ve probably got analysis paralysis or you’re using the wrong tools or have come across some conflicting advice or data,” says Sheppard.”