Would-be vendors are charging their agents to find them their next home before they agree to sell.
At a time when listings are unseasonably low homeowners who would like to sell are looking to their agents to not only help them find a buyer but also secure them their next home.
Agents report they are working as brokers and sniffing out possible property for a long list of people who are happy to sell if the right home becomes available.
Some vendors are opting for long settlements to give them more time to find something and others are simply solving the dilemma by leaving Sydney altogether.
Real estate agent Brett Marsden, of Bay. View. Beach Real Estate Mona Vale, said 90 per cent of his time is taken up looking for suitable property for his clients who want to sell family homes.
“They all want the same, a smaller home, preferably single-level and with a view that would still allow them to put money in the bank,” he said.
Jake Rowe, of Rowe Partners, said some owners are asking for him to secure their next home before they sell their existing one.
“This pattern emerges from time to time when listings are low,” he said.
Offering a long settlement can be a solution, he added.
Nick Duchatel, of Belle Property Dee Why, said even younger vendors are struggling to find a suitable property and he is seeing many families move to Queensland for more choice, lower prices and a more relaxed lifestyle.
“Two of my three vendors from last weekend are moving to Queensland and others who can’t find what they want are rebuilding on their own block,” he said.
Angus White, of LJ Hooker Balgowlah, said frustrated buyers are enlisting the help of buyers agents in the hope of finding a home and he is inundated with emails from buyers agents desperate to find a home for clients.
One of his latest sales was a three-bedroom house at 2 Curban St, Balgowlah Heights which sold before it could get to auction. The deceased estate sold well in excess of its $2.05 million guide to a young family who had missed out on other properties.
“They wanted their weekends back,” he said.
According to CoreLogic there are 878 properties on the market on the northern beaches this week, including 101 fresh listings.