Adam Cashmore is a senior sales consultant at Kay & Burton’s Armadale office, combining his local knowledge with his experience to provide valuable insights for clients in the areas of Malvern, Malvern East, Glen Iris and surrounding suburbs.

Adam began his real estate career in 2001 and believes the ability to adapt to changing conditions is vital for success in a continually evolving market. 

A keen Richmond supporter, Adam also enjoys golf, and looks forward to traveling with his family and going to the gym.

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WILLIAMS MEDIA spoke to Adam Cashmore about the Armadale market.

What is your prediction for the market in your area in 2021 and beyond?

The market continues to remain strong in Stonnington. In the suburbs of Malvern, Malvern East and Glen Iris where I mainly focus, proximity to parks/gardens, quality schools, transport and cafes/shops remain major drawcards for buyers. 

Stock levels have been very limited over the past 18 months and, combined with historically low interest rates, when a good family home hits the market we see extremely competitive buyer interest, resulting in many homes selling in private auctions prior to the original auction date.

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The hardest question we get asked as agents is “what do you think my house is worth?” No matter what the market conditions are, there are always buyers out there who think (or hope) that the sky is falling. Financial experts have wrongly predicted market drops over this Covid period and it is not uncommon to see quality family homes selling 20-30% above vendor expectations due to the conditions listed above.

What changes have you noticed in vendors and purchasers this year compared to 2020?

Even though vendors acknowledge that home prices are at the highest levels we have seen, some remain cautious with regards to running a campaign given the constant threat of lockdowns in the Covid world we live in. We have adapted our processes in-line with their thoughts, with shorter campaigns and off market sales to qualified buyers now being employed to counter this guarded approach.

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

Take advantage of the current market strength while demand for homes far outweighs supply. The fundamentals for a good sale never change: Take the time the present your home at its best – spend the time and money on getting everything in showcase condition. Never before has there been such an importance placed on photos/videos to promote your home to potential buyers on the internet. 

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What advice do you give buyers?

When is the right time to buy? This is a question I have been constantly asked for the past 18 years – my answer is always the same. When you find the right house, buy it as the next one could be 2-3 years away. No one will ever find the perfect home so if you can find a 6 out of 10 and turn it into an 8 out of 10, that’s the house for you.

What are vendors saying?

In my real estate career, I have never seen vendors put so much confidence in an agent’s guidance. This is why, when you are selecting an agent to market your home, trust/honesty and local market experience are the key factors to ensuring you are getting the correct advice for your home.

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What are buyers saying?

Buyers remain in hope that stock levels will rise, but to date there are no indications that that will be the case. Families are spending much more time at home during lockdown periods and buyer enquiry levels on listed homes are high at present. Realizing that they need more space and need to move, qualified buyers are keen to compete for a home in an open and transparent process prior to advertised auction dates to try to secure a property for their family.

Where are the buyers from?

The most active portion of my buyer database is families looking to upsize. Schools, transport and recreational facilities generally drive these moves. 

In the market above $5M, we are still seeing a large number of enquiry from expats who are planning their return to Australia and looking to secure a home to move into in 2-3 years’ time.

The downsizer market will always be there, but we are seeing less activity in this demographic of buyers purchasing off the plan given the current uncertain times we live in, hence it is a longer process for this group.

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What personal hobbies/interests outside of real estate do you enjoy in your down time?

I have always been a firm believer in work/life balance. With this in mind I enjoy spending quality time with my wife and 2 daughters whether it be on holidays, exercising, playing golf or watching our beloved Richmond Football Club. 

What is one thing you have learned over your years as an agent?

Listen to what people are saying and understand their needs rather than presuming - we need to be able to adapt to every situation that comes our way. In transacting, buyers and vendors are both nervous and it is key that you develop trust with both parties to relieve the stress of the process.

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