Buying or selling in a 'slow' market? Common myths and why they're wrong

Picture a vendor and a buyer reading the same headline about a 'slowing' property market. The vendor decides to hold off listing until things pick up. The buyer decides to wait for prices to fall further.

Both may be making a mistake. A slower market isn't necessarily a bad market. Pricing, presentation and strategy carry more weight when nobody is rushing, but homes still sell and buyers still find the right property. Here are six common myths about quieter markets, and why they don't hold up.

Myth 1: 'You can't sell in a slow market'

Homes sell in every market. Even when activity eases, people still need to move because of new jobs, growing families, downsizing or changing relationships, so genuine buyers are still out there. 

What changes is how they behave. Buyers may take more time, compare more properties and look more closely at value. Well-presented, sensibly priced homes still attract strong interest, while overpriced ones can sit online and lose momentum as buyers move on. Pricing strategically from the start, then using inspection feedback to fine-tune, gives a property its strongest chance.

Myth 2: 'It's smarter to wait until the market picks up'

Waiting can seem like the safe option, but it often isn't. Other vendors may be waiting too, and when confidence returns, a wave of new listings can give buyers more choice and leave you with more competition.

If you're selling to buy another home, a stronger market could also mean paying more for your next property. The right time to sell usually depends more on your own plans and finances than on broader market conditions.Myth 3: 'Marketing makes less difference when buyers are scarce'

When buyers have more time and more choice, first impressions carry extra weight. Professional photography, compelling listing copy, targeted online advertising and prompt follow-up with every enquiry give buyers a reason to stop scrolling, book an inspection and make an offer.

A tailored campaign, backed by regular feedback from the agent, also helps vendors understand how buyers are responding and whether the approach needs adjusting.

Myth 4: 'A slow market is a bad time to buy'

Quieter conditions can work in your favour. Depending on the property, buyers may have:

• More time to inspect properties and complete their due diligence
• More room to negotiate on price and terms
• More choice, as properties may stay on the market longer
• Less pressure to make rushed decisions at auction or in multiple-offer situations

Gloomy headlines can deter other buyers, which can make a quieter market a good time to buy.

Myth 5: 'Prices will keep falling, so it pays to wait'

A slower market and a falling market aren't the same thing. Homes can take longer to sell without prices dropping significantly.

There's also a bigger factor at play. When a city doesn't build enough homes to keep up with population growth, the resulting housing shortage puts upward pressure on prices. A slower period doesn't automatically resolve that shortage, which is why prices are likely to keep rising over the long term, even if they soften in the short term.

Rather than trying to pick the bottom of the market, use the extra time to inspect carefully. Holding out for a large discount could mean missing a home that suits your needs, while renters keep paying rent.

Myth 6: 'Buyers hold all the negotiating power'

Buyers may have more room to negotiate, but a well-priced home that offers something buyers want can still attract competing offers. Vendors shouldn't automatically reject an offer below the asking price, and buyers shouldn't assume a low offer will succeed simply because a property has been listed for a few weeks.

Clear communication helps both sides. An agent who understands what each party needs can identify where there's room to move and keep negotiations on track.

What makes the difference in a slower market?

The pace of the market is only one part of buying or selling. Vendors who price realistically, market their properties well and respond to buyer feedback can still achieve strong results. Buyers who do their research and recognise a good opportunity don't necessarily need to wait for conditions to improve.

Ultimately, local knowledge, clear communication and a considered strategy are more useful than trying to predict where the market will go next.

A slower market doesn't mean you need to put your plans on hold. Whether you're selling or buying, ModernRE can help you understand your options and make the most of the market in your suburb. Get in touch today, email us at admin@modernre.com.au or call James on 0433 464 339.

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