×

Dodge the deer in the headlights this election

jp-valery-199414-unsplash

I was chatting with a property agent at a networking event recently and, when I asked him about the state of the market, I could see his frustration rise.

He told me that far and wide people were sitting on their hands. Failing to make decisions, holding off for this or that, then getting upset when the opportunity passed them by. It was driving him mad, and understandably! The market was on pause and there was no real reason why.


This isn’t an isolated scenario, but a theme that’s increasing across many industries at the moment.

As we break for Easter and fight the perception that we lose the month of April to public holidays, the current catch cry from business and property owners is “we’ll wait to see what happens after the election”. I’ve been hearing it for months, yet the election has just been called and it’s still a month away. Imagine the opportunities that will have come and gone in that time.

Let’s face it, there’s always a “logical” reason to wait. Instability is the permanent state of the world. Think Trump in the US, or Brexit for Britain. Closer to home we’ve just seen a fairly bland Budget announced, that many key decision makers will have realised too late wasn’t worth waiting on to make their move. There’s always another thing coming up, another “wait-and-see” milestone.

Aside from international political turmoil, this instinct commonly occurs on a more personal level, too. You may be well aware that you should have a Will, but you’re just waiting until you get married, or have kids, or your kids have kids, before making a plan. 50% of Australians wait too long and pass away without their affairs in order.

Or you may find a property gem, with the figures stacking up to show a future financial gain. But you choose to wait to see what the market does next and, in the meantime, someone else snaps up the opportunity.

My colleague, Gavin, recently shared some musings on the good that can be found amongst a pessimistic global economic forecast. I’d extend on his comments by saying that you can’t chase the good fortune out there if you’re standing still.

Be smart and strategic about your timing, but don’t become a deer in the headlights. If you have a deal pending and you’re waiting until after the election, you’re about to lose another month. Then you only have six months left of the year to claw back that time – and there will always be something else to wait for whilst time continues to march on.

If you want to buy, buy. If you’re ready to launch, launch. Plan your attack to gain the best advantage, but don’t forget to follow through and act. Time will keep ticking on – don’t let someone steal the march on you.

Back to Articles
Redchip

Recent Articles

Binding Death Benefit Nominations
Clarification of law regarding BDBNs

A 2020 case determined whether a financial Attorney has the power to make a Binding Death Benefit Nomination (BDBN) on behalf of their Principal.

Read more
alex-motoc-J5eEiP-DJYk-unsplash
Major BCCM changes and the impacts for developers

The new body corporate and community management regulations represent the most significant changes for many years in the way body corporates are administered.

Read more
Construction sign
Construction for Accountants – Part Two

Covering QBCC Compliance Audits / QBCC Minimum Financial Requirements for licensees and how accountants can assist in these matters.

Read more