Harriet and her partner have owned their property for nearly 25 years. With their children all grown up now, and the place falling apart a bit, they started talking about selling. Fortuitously, it was around the same time that my team sent Harriet a letter in the mail expressing interest in their property. Would they […]
Category Archives: Purchase Negotiations
Client Case Studies, Purchase Negotiations
3 Questions Professionals Consider Before an Auction Starts
04
Jun
Jun
Some people love auctions, others hate them. It’s pretty rare to find someone who’s indifferent to them. Emotional, confrontational, intense, high stakes – bidding at auction takes everyone out of their comfort zone. Perhaps that’s why they’re so entertaining. Seriously, I often attend auctions just to watch. Good friends of mine were interested in a […]
Client Case Studies, Investment & Development Advice, Key Market Indicators, Purchase Negotiations
How to Use Time to Your Favour When Negotiating
08
Jun
Jun
The heat has absolutely come out of the Melbourne housing market. Dynamics between Sellers and Buyers have changed dramatically over the last 12 months. For much of the five years between 2012-2017, the dominant, underlying emotion at auctions and during private sale negotiations was one of fear – Buyers feared missing out. With price growth flat, and auction […]
Key Market Indicators, Melbourne Property Market Research, Purchase Negotiations, Uncategorized
We’re Finally in a Buyer’s Market
17
May
May
After over 4 years of intense competition between buyers (and crazy resulting $ prices!), the Melbourne market is finally calming down. Sellers are no longer calling all the shots – Buyers are now increasingly finding themselves in the driver’s seat. According to CoreLogic, house values in the average Melbourne suburb have increased about 65% in the last 5 […]
Client Case Studies, Melbourne Property Market Research, Purchase Negotiations
When 3-4 hours delivered me an extra $30k in profit
27
Feb
Feb
How much can I get for it?! When selling your property, that’s the first and most obvious question you’d ask an agent. But, how often do you get a straight answer? Not often. I’ve sold more than a few properties over the years, and whether acting for myself or as an advisor to my developer clients, I never […]
21
Mar
Mar
I bought a property at auction for a client the other weekend with a simple but effective strategy… Quietly study the competition until bidding hits the reserve, wait for things to slow down a bit, then bid hard. Every property, campaign, and auction is different, so this isn’t a one-size fits all approach (i.e. I use different […]
Client Case Studies, Data-Driven Investing, Purchase Negotiations
Passed-In Properties Make for Good Buying
15
Dec
Dec
Successful negotiators seek to create urgency on the other party. When an agent tells you that interest in a property is high, or that his/her vendor is seriously considering an offer from another buyer, your heart rate goes up – you don’t want to lose it!! Auctions create urgency amongst buyers, because an auction campaign […]
Client Case Studies, Investment & Development Advice, Purchase Negotiations
Some of the Best Properties Never Hit the Market
22
Oct
Oct
If you’re looking for a specific type of development property, then yes, it is important to establish relationships with local agents. In search of a townhouse development project 10-odd years back, I introduced myself to agents at opens, and explained my specific requirements (under $500k budget, corner block, dual occupancy, etc). Of course, as a result, I […]
Client Case Studies, Purchase Negotiations
The First Negotiating Principle – Know Who Has the Leverage
05
Aug
Aug
Negotiation is about leverage. When purchasing a property, you have the most leverage when: It has been on the market for a long time, and/or No competition exists from other buyers The first point of leverage (time on market) is easy to determine, and simple to understand. Every property will sell for the right price, and […]