The Agency's James Smith began his real estate career in regional NSW, and brings with him an honest and down to earth approach and an unflinching desire to achieve the absolute best outcomes for all his clients.

James was drawn to Melbourne and the bayside area in particular, and appreciates its relaxed vibrancy, beautiful architecture, and easy access to the picturesque bay and stunning parks and gardens. James has also quickly learned the nuances and intricacies of the real estate market in St Kilda and its picturesque surrounding inner city suburbs.

With expert interpersonal skills and attention to detail that is rare to find, there isn’t an element of the job that James isn’t passionate about. He takes great satisfaction out of guiding people through what is one of the biggest decisions of their lives, and his calm and considered personality always puts his clients at ease.

Outside of work, James has a strong interest in Melbourne’s arts and cultural scene, and holds a degree in Interior Design as well as having studied at art school in Melbourne. He also enjoys long distance running, regularly visiting the gym, hiking at Wilson’s Promontory, visiting with family in the Yarra Valley, and walking his Jack Russell Terrier, Bobbi.

WILLIAMS MEDIA spoke to James Smith about the Melbourne market now that Covid-related restrictions have been lifted.

What are your predictions about the last quarter market in your area for the rest of 2020, moving into 2021?

It has been an extremely challenging time for all Melbournians over the past few months, however with the lifting of Covid-related restrictions, there is certainly a more positive vibe in the community. Interestingly, the majority of the active buyers continued to stay engaged throughout the worst of the lockdown.

It has now been one month since the Real Estate industry has been able to proceed with one-on-one property inspections and the engagement and activity from these buyers has been very promising. It seems the lack of opportunity, accompanied by strong demand, has resulted in terrific outcomes over the past three weeks.

Given the market is still catching up to this strong buyer demand, I believe we will continue to see prices hold and property sold within a short period of time in the lead up to Christmas. Historically, the Bayside market would generally return in late January to early February, however with limited travel options and destinations we will most likely see a strong return to the market shortly after the New Year.

I do have concerns that we may not see the current buyer demand replenished following the withdrawal of Government assistance in the first quarter of 2021, accompanied with the unfortunate position some vendors may find themselves in, where a forced sale is necessary. This would result in an easing of buyer demand and flooding of new homes to the market.

What advice would you give to vendors for the best outcome?

I always put myself in my vendor’s shoes to gain a better understanding of their position. Essentially, my advice is that if a sale is intended within the next 6 months it would be not to waste any time. One-on-one property inspections have actually been quite beneficial allowing the agents to have more opportunity to sell the home and of course leverage off the strong buyer demand. Whilst auction sale campaigns have generally been the most recommended strategy for sale, we are seeing Private negotiation or Expression of Interest campaigns performing well with a specified end date. Depending on the property, we are urging vendors to take advantage of limited competition as well.

What advice do you give buyers?

Be prepared. This market is changing quickly and we too often see buyers that have not yet ensured finance pre-approval. Most property listings are either ‘Forthcoming Auctions’ or Expression of Interest’ however in most cases we are moving forward with the most engaged buyers regardless of the of what stage the campaign is up to. Be prepared, know your brief, and be confident with your budget.

What are vendors saying?

Following eight weeks of uncertainty, our vendors are pleasantly surprised by the volume of buyer inspections and engagement. In a recent case we have had a significant home on the market since early 2020 and within the first few weeks of relaunching the campaign have secured a buyer within the original selling range. This is a confidence in the market we have not seen for the majority of 2020.

What are buyers saying?

The majority of buyers are remaining positive and eager to secure a home before Christmas. Lockdown has provided ample time to reassess and cement decisions on their criteria and amplified ‘want’ to purchase a new home before the end of the year.

Where do you see demand coming from?

Interestingly, a large volume of young families and professional couples that were looking to move/upsize within the next 12-24 months have expedited their plans dramatically with the need for a second living area or office space now vital. This demand is generally coming from the local market with external interstate and international not so prevalent.

What are your interests outside of real estate?

Growing up on the Far South Coast of NSW in a small coastal town called Merimbula, I have a great appreciation for the natural environment and established a love for exploring the untouched wilderness and National Parks of the South Coast.

Prior to Covid restrictions, I took any opportunity I had to explore Victoria’s great wilderness coast especially the hikes around Wilson’s Promontory. To have such amazing parks and coastline within only a few hours’ drive of Melbourne is incredible and something not to be missed.

Family is also hugely important to me and I am fortunate to have a beautiful niece and nephew based in the Yarra Valley. Most other Sundays are spent with Henry and Juliette. It’s a privilege to be a part of their lives and something I don’t want to miss!

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What is one thing you have learned over your years as a real estate agent?

The Real Estate industry is so incredibly interesting as I don’t think there is any other career that allows you to become involved in such an emotional and large process like selling a family home or assisting in the purchase of your first property. I’ve learned to be incredibly empathic throughout all property transactions as we literally can help dreams come true.

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