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Michael Andrews, CEO of Ray White Malan + Co, says time is of the essence
Homeowners submitting an offer this spring face a ticking time bomb: Sell within 28 days or forfeit.
A Gold Coast property manager has warned sellers who refuse to give up fantasy prices are threatening to see their biggest asset rot on the market as increasingly picky buyers take the time to shop around for a deal.
“I think 28 days on market, give or take, will be the new benchmark for a successful sale for the remainder of 2026, not whether auction clearance rates continue to remain sky-high,” said Michael Andrews, CEO of Ray White Malan + Co.
With federal tax changes curbing investor demand and local quarterly growth falling 0.3 percent, the balance of power in the Coast’s blue-chip belt had shifted.
Mr Andrews said sellers needed a reality check
Mr Andrews said sellers should forget about record boom-time prices and instead listen to real-time feedback from buyers in the first four weeks of their campaign.
“If you’re a seller and your home has been listed for 40 or 50 days, maybe even three or four months, you need to aim for an even higher price to make up for lost time that may never come, leaving you stuck in the loop.”
Data from Realestate.com.au shows house prices fell 0.3 per cent in the final quarter to June as the local market fell for the first time after rising 15.2 per cent in the last 12 months.
Despite the recent decline, underlying demand on the coast remains active, Mr Andrews said.
Data from Ray White shows there were 61 new Gold Coast listings with 1566 active buyers in the first week of August.
Spring is traditionally a popular time to list your home for sale
“There are buyers in the market and there is plenty of supply,” Andrews said.
“However, what we are seeing is that buyers are becoming more selective. I don’t expect a linear market for the rest of 2026 and the next interest rate decision in September will have a big impact on that.”
“There will be periods where certain segments move very quickly, followed by periods where buyers become more cautious. I think the more realistic outlook is a market at different speeds.”
Mr Andrews said agents had a duty to show tough love to sellers before open house foot traffic dried up completely.
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“It’s best not to form a dollar number in your head and stick firmly to it based on historical sales – the market has changed,” he said.
“If a seller can adjust their expectations based on current buyer feedback, they will be able to close deals quickly and easily and move on with their lives. I can’t think of anything worse than having open houses for months and being disappointed when the offers finally dry up.”
“In my experience, salespeople value accuracy over optimism, and certainly not false optimism.”
