Who’s on your side when you purchase a property?

If you’re buying property, you may fare better with a Buyer’s Agent on your side.

Using a buyer’s agent to assist in purchasing a property has not been well used in Western Australia to date, but in the Eastern States, using a Buyer’s Agent is becoming increasingly popular.

‘Having a registered buyer’s agent on your team can be a brilliant move because we can invariably buy at a better price than the average home purchaser can do,’ says Clive Elliott from Buying Perth Real Estate.

Clive Elliott is a seasoned real estate agent having operated his own agency for many years. These days, he works primarily as a buyer’s agent.

“The days of real estate agents taking prospective buyers around to homes offered by other agents when their listings don’t match what the buyer wants, have virtually gone,” he says.

“It concerns me that in many cases people who are time-poor settle for a home below their expectations while other people are not strong negotiators, so they end up paying more than they could have,” he said.

A buyer’s agent’s job is to find properties that match the brief from a buyer.

The search made by a buyer’s agent considers the offerings of numerous agencies and sometimes off-the-market properties.

“Many people forget that a real estate agent is paid by the seller to get the best price possible whereas a buyer’s agent, knowing this and having worked in price negotiations, is motivated to work on behalf of the buyer,” Mr Elliott said.

“We can often cover our entire fee and more by having the knowledge of current property values and knowing how to negotiate accordingly,” he said.

With more extensive knowledge than most people of the property market, a buyer’s agent can also source a property for investors with better prospects for capital growth or rental yield and seek out properties being sold off-market’ (sometimes known as ‘silent sales’) which never appear publicly.

“We also help our buyers to ensure they have included the correct conditions in their offer to purchase and when needed, assist them in obtaining suitable finance brokers and conveyancers,

“All up, a buyer’s agent removes a lot of stress from property purchasing, saves the buyer a huge amount of time in searching for the right property, and we invariably save the buyer quite a lot more than our fee for service,” Clive said.

To learn more about how a buying agent works, you can visit buyingperthrealestate.com.au

The best property buying opportunities in Australia are right here in WA!

Every now and again we’re asked by purchasers whether it’s best to buy now, or wait, in the hope that prices will drop further.

They’re mindful of the real estate adage: ‘timing is everything’.

The answer varies, but it’s fair to say that 2019 represents a good time to enter the West Australian property market – whether as a first home buyer, a homeowner upgrading to a more substantial home, or as an investor.

Some key factors lead us to think that 2019 represents a great opportunity.

1) Affordability
Several months ago, it was announced that WA had become the most affordable state for property in Australia.

According to a housing affordability study produced by the Real Estate Institute of Australia and the Bank of Adelaide, only the Northern Territory and the ACT were more affordable.

The report also found that the proportion of income required for meeting loan repayments in WA improved to 22.7% in the September 2018 quarter, a decrease of 1.2% from the June 2018 quarter, while the average loan size reduced 4.6% to $339,943.

By comparison, the proportion of income required to meet loan repayments in NSW is 36.6% with an average loan of $469,589.

Further, rental vacancies across Perth are down to 2.6% – a significant decrease from 9% a few years back.

Rental vacancy rates have decreased dramatically in quite a few locations, and if the common trend ensues, rental yields will begin rising when the vacancy level falls below 2.5%.

2) Massive new mining investment forecast
It seems set to happen all over again!

2014 saw the end of a property boom in WA driven predominantly by massive spending from the mining industry on mine site expansion and large scale construction.

Forecasted investment in upcoming projects in the Goldfields and Pilbara regions totals around $75 billion.

This spending on infrastructure and mine site expansion includes projects related to Iron ore, Lithium, Liquid Natural Gas, Mineral Sands, Gold Mining, Urea production, and a Nickel smelter.

As these projects get underway, there will be considerable demand for workers.

Already, demand for skilled professionals has risen dramatically, leading to an increase in the tempo of top-end property sales with median prices of exclusive localities experiencing substantial gains.

The Western suburbs have fared nicely as well as the Canning Riverside suburb of Mt Pleasant.

The median price of homes in Mt Pleasant has increased by 26% in the 12 months to March 2019.

People who purchased while the prices were low have fared very well, and there is little doubt that the next few years they will see further capital growth.

According to reports, around 40% of Perth suburbs experienced price growth over the year. We believe this represents an opportunity.

By contrast, quite a few suburbs – particularly those in the outer areas – have seen decreases in the median price as supply has consistently exceeded demand.

The question arises: how long will it be before they see a turnaround as well?

Massive demand for tradespeople and semi-skilled workers will likely follow the current demand for professional workers.

This influx of people will likely generate a significant increase in business confidence and, as a result, rental vacancies will decrease markedly to follow a similar pattern as the previous mining construction boom.

As the cycle goes, the property market will strengthen across the board, making 2019 a golden opportunity for people to buy in areas where prices are at their lowest.

3) The Election!
If the Labor Party wins the upcoming election, we can expect them to take action on negative gearing in the 2020 budget.

Their current platform is to allow negative gearing on established homes purchased before its budget. From then, negative gearing will only apply to new property purchases.

Timing is everything, so we make a point of monitoring the prices of established suburbs with strong investment potential.

These investments will have excellent long term rental potential, and if you hold for the long term, there is potential for strong capital growth.

Opportunity
The current market presents an excellent opportunity. We would urge prospective buyers to act soon rather than leaving their move to the point where everyone is trying to get in for Fear Of Missing Out. FOMO is real, but it’s not quite a reality. Yet.

Buying Perth Real Estate are experts at helping investors and homeowners to find properties that best suit them – saving them time and money.

If you’re considering a move, call us for a chat. There’s no obligation, and you will be surprised to discover what BuyingPerthRealEstate.com can do for you.

Clive Elliott – Principal

The right time to buy your home is when you find the right home.

There’s an expression in real estate for prospective home buyers: ‘The right time to buy your home is when you find the right home’.

An interesting conundrum can arise for home buyers when the very first home we find for them perfectly matches what they have described as being their ideal home.

Was it too easy? Are there better ones? An even more perfect fit?

It can be a problem, and the thought has crossed our mind that it might be better to hold off from presenting a buyer with the perfect match to their property requirements because of this dynamic.

While we’ve never done things this way, it can come as a surprise to buyers who have searched unsuccessfully only to have us come up with what they were seeking, first up.

Our recommendation is just this: while we are happy to keep a search going, there is one strong recommendation: ‘the right time to buy your home is when you’re presented with the right home’.

We recommend following your ‘gut instinct’ – if the home feels right, it probably is and, on that basis, it’s the right time to buy.

It can be a tragedy to put it a property on hold when a property feels like it is the perfect fit and then find it sold to someone else. Particularly if we only put it on hold because its discovery appeared to be too easy.

Our job is to find you a home that best matches what you describe to us – within your budget and in a locality desirable to you.

Sometimes the ideal home happens to be found very quickly; other times the task is a challenge.

Whichever it is, when you put us to the test, we take the task seriously and leave very few stones unturned in our search.

First home buyers, home up-graders, home downsizers, investors, Australians working overseas and overseas buyers can all benefit from our services.

Visit us at BuyingPerthRealEstate.com or call us on 0412 926 190 and we’ll let you know what we can do for you.

“This property is not right for you!… I’ll find you a better one”

As a buyer of real estate, have you ever had an agent show you a property for sale that was not suitable for you? They then said they would try to find you a property better suited to your needs.

How many times has the agent followed up to find you the ideal property?

Typically, the answer to these questions is ‘never’.

Why? Because a real estate agent is engaged and paid by the seller to sell their property. They’re not paid by you, the buyer, so there’s no real incentive for them to track down the ideal property for you.

Real estate agents only show prospective buyers the properties that their company has for sale because that’s how they’re paid.

Legally and morally they are obligated to work on behalf of the seller when marketing a property.

And that is where the difference lies.

A buyer’s agent works the opposite way.

A buyer’s agent works for the buyer.

The role of BuyingPerthRealEstate.com is to find the property that best fits your needs – within your budget.

BuyingPerthRealEstate.com prides itself in finding properties for buyers who are time poor or unable to see a range of properties. Or they lack the experience to handle challenging negotiation situations.

As highly experienced real estate agents, we have the background knowledge to know the realistic price of a specific property and to negotiate the price on your behalf.

Our knowledge of the property market ensures we find the best property for our clients’ needs and our negotiation experience enables them to have the property at the best price possible.

A highly experienced property buying agency service like BuyingPerthRealEstate.com more than pays for itself, so if you want the best value for your money on your next property purchase, why not call us for a chat?

We handle property purchases for all types of buyers – first home buyers, home upgraders, home down-sizers, investors, Australian expatriates living overseas and overseas purchasers.

Tell us what you’re seeking and your budget – and we’ll quickly assess the likelihood of us being able to act for you.

It’s so easy.

Call us for a chat on 0412 926 190, and we’ll let you know what we can do for you or visit www.buyingperthrealestate.com and find out more about us.

We can save you time, stress and money and give you the confidence of having the best property suited to you, for what your money could buy.

West Australia’s first home buyers should be getting a better deal.

In many states across the country including Western Australia, First Home Buyers are being encouraged to build or buy new. A question arises: is that the right move for them to make?

The First Home Buyers Grant, only available on the proviso that First Home Buyers build or buy new homes is skewed towards helping the home building industry. Is it in buyer’s interests, though?

I don’t think so!

I strongly agree with Damian Collins, President of the WA Real Estate Institute who recently said it is the first home people buy that is the most important.

It’s an accurate statement given that it is the capital growth from their first home that will enable them to be able to afford to trade up to their next home.

The reality is that better capital growth generally occurs in established suburbs rather than outer suburb localities where new housing subdivisions have been developed.

In effect, the bias of the First Home Buyers Grant is not doing First Home Buyers many favours at all.

As a Buyers’ Agent, I strongly advise First Home Buyers to purchase land extremely selectively – if they wish to build a new home. I go out of my way to find a block in a locality that has the potential for capital growth.

Unfortunately, First Home Buyers are not given the guidance they should.

Some agents and property developers see them as a market to be secured rather than helped for the future.

They’re not giving them the right sort of advice.

If a First Home Buyer can purchase without losing the advantage of the First Home Buyers Grant, they’d be best advised to buy an established property.

The reason for this, particularly when using a Buying Agent, is the price of an established home is generally negotiable.

People selling an established home are often motivated to sell and will consider offers when professionally presented.

The seller could be keen to upgrade, move to another location, or be forced to sell because of circumstances. All of these open the door to negotiation.

Unless a builder/developer is desperate to sell in abnormal market conditions, there is unlikely to be any possibility of negotiation on a new build.

What’s more, the discount obtained through a professionally negotiated price can be equal or greater than the First Home Buyers’ Grant – an excellent reason to use the services of a Professional Buyers Agent.

As a person who has been in the real estate industry for many years, it surprises me that more of Western Australia’s First Home Buyers don’t use the services of a Buyer’s Agent.

Buying Perth Real Estate is a buyer’s agency dedicated to finding the right properties for its clients and to saving them money through negotiating the best deal possible.

It takes years of experience in the real estate industry to know the right price within a particular market – it is not necessarily the asking price nor the price the homeowner may dream of realising.

An advocate acting on your behalf can save you thousands or tens of thousands while also helping you navigate through unfamiliar contracts and conditions.

For more information, call Clive Elliott from Buying Perth Real Estate on 0412 926 190.

Information for Expat Property Buyers

Buying Perth Real Estate specialise in assisting Australian expats buyers buy their dream home or investment property in Perth whether you’re in London, Singapore, Dubai, Hong Kong, or  New York, be assured there’s property in Western Australia for you.

Many of our international or expat clients are unaware of the advantages of buying house in Western Australia while they are still overseas. This allows them to get ahead of property growth cycle and capitalise on our excellent investment opportunities even if they’re not yet on Australian soil.

Buying Perth Real Estate advocates are up-to-date with the latest research and the trends of our local market giving our overseas buyers in-depth localised information on choosing properties with the best features and capital gains potential. Were also able to give our overseas buyers access to both on and off market listings and provide them with information that not even local buyers have access to. We will be your eyes and ears on the ground searching for homes and properties in Perth and general areas throughout our State. Using our expert negotiation skills, we can also save you a packet when it comes to buying a house and securing it ahead of other buyers. We delight in helping you invest in property in Western Australia.

If you’re an international buyer looking specifically for investment property, we will advise you on the the most appropriate suburbs and the brief you on all aspects of properties research to ensure you make an informed decision. We are consistently researching local investments hotspots and can deliver a range of properties to suit your specific investment acquirements whether they be for capital growth or positive cash flow. We have contacts throughout Western Australia and have excellent links to opportunities in all other States of Australia that can assist in the search of quality investment property. We are flexible and able to meet your specific requirements. We will also assist with the coordination of all support services relating to a purchase. We will communicate with you at every stage of the process.

Investing in Perth real estate while living overseas is a difficult process as you need to keep up with the local trends, understand the local market, know how local agents operate and decide which properties that are currently on the market will meet your requirements.

The Perth market is made up of a number of submarkets that we protect foreign buyers from paying too much or buying the wrong type of property. Buying Perth real estate provides an independent advice and assistance to foreign investors and homebuyers with permanent resident status to navigate the property market.

Foreign investors (non-resident) must buy a brand-new property, or buy land and build, within two years. Buying Perth Real Estate property understands the local market and has access to the new and hidden listings that may be suitable to you. We can show you the suburbs that have the best lifestyle, schools, entertainment, sporting facilities, investment potential and other key features you desire.

We count it a privilege to assist international buyers purchasing property in Perth from their locations abroad. Purchasing property in the Perth real estate market has provided a substantial capital growth over the long term. We research extensively to source properties that meet your needs and lifestyle. Every international investment opportunity is assessed against dozens of factors including local market conditions, comparative sales and property and the property’s condition. We can also access many listings before they come on the market so you can reap the reward of the silent sale once you’ve decided upon a property we negotiate directly with the real estate agents or owner to secure the lowest possible price saving you time and money and stress

There are many conditions that must be adhered to when purchasing real estate in Australia. Buying Perth Real Estate will forward to you the lengthy requirements for foreign buyers (non-residents), by request.

“In any market, in any country, there are developers who make money. So I say all of this doom and gloom, but there will always be people who make money, because people always want homes.”

Sarah Beeney

Professional help with property negotiations.

Buying a property is usually the most expensive purchase your make in your life and it’s not something you do every day of the week.

Unless you’re a Buyers Agent!

There is no doubt having a skilled property negotiator on your side can save you thousands. And save you the frustration of missing out at an auction or private treaty negotiations.

The selling agent does not work for the purchaser in the real estate negotiation as they are working for the vendors. An independent buyers advocate will work for your best interest at heart to take a firm but fair approach to negotiating the best outcome for you. The buyers advocate provides a buffer of protection between you and the sales agent so you don’t end up paying too much.

Our appraisal and negotiation service is ideal for those who enjoy the search but want to bring the experts to get the true market value of the property and know that they can secure it at the right price through expert negotiation.

We establish the true market value of your chosen property by conducting a detailed analysis using our local knowledge and access to extensive sales databases.

Buying Perth property provides an objective and unbiased view on the property is true worth and removes the emotion from the buying process. This coupled with our expert negotiation skills means our clients can save tens of thousands of dollars (far in excess of our fee).  Buy with confidence and pay the right price every time.

House price negotiating is an art and requires considerable skill to get the best possible result. Trust our expertise to appraise and negotiate your next property at the right price. We understand the mechanics and skill involved with negotiating house pricing and understand how the sales agents operate. We know how to present offers at the right time and in the best possible method to put our buyers to the front of the buying queue.

We offer a fixed fee for a negotiation services so you can be confident there is no bias and our negotiations and know your costs upfront basis