The Art of Negotiation

Buyers Agent Sydney

An experienced Real Estate negotiate can save you tens of thousands of dollars, if not more, providing you a competitive edge over the competition

 

Below are a few key points to consider when negotiating

 

1. Build a good rapport with the selling agent and keep in very close contact with them. You might need them on your side if there is multi buyers

 

2. Avoid participating in silent auctions where there is absolutely no transparency and where your relying on the selling agents ethics to be honest about other alleged offers

 

3. Find out as much as possible about the vendor and their motives for selling

 

4. Establish if the vendor would prefer a long or short settlement and use it to your advantage

 

5. Establish the true market value of the property with recent comparable sales. Get a free property report, which will give you the complete sales & rental history of the property and how long it’s been on the market

 

6. Ask the selling agent to give you the comparable sales they gave to the vendor to establish their price indication

 

7. Don’t tell the selling agent you love the property. Point out a few negatives, which they will probably tell the vendor

 

8. Don’t make low ball offers an upset the agent and vendor, it doesn’t help and just makes them resent you

 

9. Always make your offer subject to the building & pest and re-negotiate the price or get the vendor to rectify any problems

 

10. Never get emotional about a property, there will always been another

 

11. Have a back up property and make sure the agent knows if you don’t get the property at your estimated price you will buy the other property

 

12. Don’t tell the agent this is your last or best offer if it’s not, because they might go and sell it to another buyer without giving you the opportunity to increase yours

 

13. Sometimes is not always about price and if it’s a once in a life opportunity, do what it takes to get it 

 

14. If your offer is accepted, race to exchange contracts before another buyer offers a higher price. The property is on the market until it is exchanged

 

Want to save tens of thousands of dollars on your next property? Use an experienced negotiator from TBAS®

Call us on 02 9363 3239 or EMAIL US
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PO Box 49 Double Bay NSW 1360
P: +61 2 9363 3239 M: 0418 474 304

 

 

Why use a Buyers Agent

Why use a Buyers Agent

Buyers Agents or Buyers Advocates do not sell property and are licensed professionals representing the buyers best interest to secure the right property in a timely manner and at a great price. They are your insurance policy and will definitely save you time, money and stress.

 

 8 Reasons to use a Buyers Agent by Rodney McLoughlin from TBAS®

 

 1. Find a Property Faster - Buyers agents have all the resources at their finger tips to fast track the purchase, including real estate agents, private sellers, developers, solicitors, financiers, etc.

 

 2. Off Market Properties - Buyers Agents have access to every property listed, on and off the market, including private sellers

 

 3. Expert Negotiators - Buyer Agents negotiate properties every day, they know when to offer more money or when the selling agent is lying

 

 4. Independent Advice and Evaluation -  The Buyers Agent is working for you to minimise the purchase price. The selling agent is representing the seller to maximise the selling price

 

 5. Exchanging Contracts - Buyers Agents can stop other potential buyers exchanging contracts before you. The good properties usually have more than one buyer competing for them

 

 6. Auction Bidding - A Buyers Agent will bid on your behalf at auction and plan an auction strategy to eliminate the stress and emotional bidding

 

 7. Pre Approval - Home loans typically expire after 3 months, therefore a buyers agent will give you the best chance of securing a property before it lapses and having to re-apply

 

 8. Investment Properties - They will help clarify your goals by asking crucial questions to maximise you return Eg: Capital growth v’s high yield? Which properties will achieve greater capital growth and is it better to buy a property that is positively geared or negatively geared?

 

Call us on 02 9363 3239 for an obligation-free consultation or EMAIL US
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PO Box 49 Double Bay NSW 1360
P: +61 2 9363 3239 M: 0418 474 304

Auction Bidding Tips

Auctions can be extremely emotional, knowing how to bid at auction and having the data to support the true value of a property will save you a lot of money.

 

 Below are some invaluable auction bidding tips from TBAS®

 

 1. Have your finances pre approved

 

 2.  Research the local area and real estate market thoroughly, to ascertain the exact value of the property

 

 3.  Get comparable sales from independent sources, not the real estate agent selling the property

 

 4.  Get an independent building & pest inspection

 

 5.  Have your solicitor or conveyancer review the contract for sale

 

 6.  You’re not always required to have a 10% deposit. Negotiate a 5% deposit prior to the auction if beneficial

 

 7.  Organise your deposit, which must be paid directly after the auction. Clarify if a bank cheque is required, if you can use a personal cheque or the new DEFT payment. 

 

 8.  The auctioneer doesn’t have to call the property is ‘on the market’ to sell it

 

 9.  You don’t have to be the highest bidder to negotiate after the auction if it doesn’t sell, however the highest bidder has the first right

 

 10.  Prepare a bidding strategy, bid fast, be assertive and never procrastinate. Don’t look at your partner and debate if you should bid higher, it's a clear signal you are at your limit.

 

 11.  Know your absolute maximum bid and stick to it

 

 12.  Take the emotion out of it & insulate yourself from the selling agents by using a professional  auction bidder from TBAS® Buyers Agents. We are your insurance policy

 

Call us on 02 9363 3239 for an obligation-free consultation or EMAIL US