Buying Perth Real Estate for Wealth Part Three: Negotiating

In our first blog, we discussed the importance of property investment as an integral part of growing wealth. We also advocated appointing Buying Perth Real Estate as your Buyer’s Agent as a fast track to building a personal property portfolio – a portfolio comprising chosen properties with the most favourable terms and potential.

In our second blog on this topic, we covered was location and selection.

As an experienced Buyers Agents, we are continually reviewing all areas of the real estate market in Perth and regional areas for our clients. This knowledge puts us in the box seat to identify the best areas in Perth for buying property in the current market. 

Your first move when engaging our Real Estate Buyer’s Agent Services is perhaps the most important. It is the initial discussion we have with our clients to establish all of the details. We call this ‘The Brief’.

From there, our action is as follows

  1.  We discuss suitable properties, areas, location, and facilities most important to you, whether it is your home or for an investment.
  2.  We then produce a selection of properties that meet your criteria contained in The Brief.
  3. We receive summaries of the properties showing all the details for you. 
  4. We arrange for a private inspection of the properties on your shortlist.
  5. Once the inspection is complete, and you choose your ideal property, we move to the next step.
  6. Preparing the offer to purchase is crucial – we make sure it covers all of the conditions to protect you throughout the negotiating process from offer and acceptance through to settlement of the property.

Now we move onto negotiating.

Negotiating
Negotiation is an art in itself. So many buyers think that it’s a case of merely coming up with a number to see if the sellers will accept it. Invariably, they don’t, and it leads to disappointment and often the sense of loss. 

In the Perth real estate market – the current climate, in particular – there is often room for an experienced buyer’s agent to negotiate property at a much less a figure than the sellers are asking.

Preparing for the offer
We spend a considerable amount of time with the buyer before even selecting the chosen property. The buyers must have a good understanding of their financial arrangements and have prior finance approval if necessary so that their offer can be a desirable offer not only in terms of price but also the conditions and speed of settlement. 

The quicker the settlement, the more negotiation power we have in securing an attractive price on the property accepted. Even first home buyers in Perth can benefit from making these prior arrangements under our direction. Condition of the property needs to be taken into consideration when making an offer, and any minor or major repairs and maintenance need to be counted as an after cost for the buyer. 

The buyer at this stage must also understand the costs of settlement, including stamp duty, conveyancing costs, and adjustments of service costs for the property. All these are adjusted and paid at settlement.

It is essential to understand the seller’s motivation for selling the property and the plans the sellers have after selling – this often makes a significant difference in how the offer is structured and presented.

As experienced buyer’s agents in Perth, we are not only able to search out the best property available to fit the buyers brief, but also negotiate at the best possible price for the buyer.

In Part Four, we will consider the investor who wants to purchase, renovate and flip. We’ll look at some specific examples. Keep an eye out for this blog.

By reading the signs and using our experience, you can tell when the real estate downturn has ended, and when the upturn begins (or began)!

Don’t delay. Contact us for a free consultation. https://buyingperthrealestate.com/buyers-agent/

The Buying of Perth Real Estate for Wealth, Part Two: Location

In our recent blog, we discussed the importance of property investment as an integral part of growing wealth. 

We also wrote about the potency of appointing Buying Perth Real Estate as your Buyer’s Agent. How it can be a fast track way to building a personal property portfolio; a portfolio comprising of chosen properties with the most favourable terms and potential.

Location, Location, Location

Some properties make better investments than others.

The goal for any buyer should be to get the right price for the right property, not just the lowest price on any property.

To achieve this goal, an accurate assessment of the market value and the rental potential, together with a valued opinion of the location are just a few of the ways a Buyers Agent works in Perth.     

Whether you’re a first home buyer in the Perth area or a seasoned investor if buying real estate in Perth, it requires the attention to areas such as rentals and sales activity.

Whether you are a first home buyer or downsizing or upsizing in the Perth real estate market, it becomes increasingly important to use an experienced buyers agent in Perth.

Location and selection.

As experienced Buyers Agents, we are continually reviewing all areas of the real estate market in Perth and regional areas for our clients. We see the areas where the best property buying in all of Perth are located.

Because of our coveted relationship with so many real estate agents, we find that up to 30% of properties sold aren’t even advertised to the public.

“Why? you may say.” There are plenty of reasons.

Some sellers require a quick sale; others don’t want the expense and inconvenience of going through a lengthy auction process, others  wish to protect their privacy and don’t want weeks of having home opens.

Agents look forward to hearing from Buying Perth Real Estate as they know us as the experienced buyer’s agent in Perth.

They know our clients are genuine buyers and have their finance arrangements organised well in advance to enable a quick and trouble-free sales process.

The agent works and is paid by the seller and they are their top priority while we as a buyers agent work exclusively for the buyer.

we receive no payment from the agent, this way there is no conflict of interest  

Buyers Agents/ Buyers Advocate Fees

Without exception, our clients report that the dollars we save them from our years of experience in negotiating real estate contracts, save them the cost to use our services – sometimes many times over.

Next, we will go through the negotiation process and how it works in your favour. Look out for this blog.

By reading the signs and using our experience, you can tell when the real estate downturn has ended, and when the upturn begins (or began)!

Don’t delay. Contact us for a free consultation. https://buyingperthrealestate.com/buyers-agent/

Why property is an essential way to build and hold wealth

Property investment is an integral part of growing Wealth, and there are many areas to explore before diving into or adding to your investment portfolio.

Appointing Buying Perth Real Estate as your Buyer’s Agent is a fast-track to building a Personal Property Portfolio – a portfolio comprising your chosen properties with the most favourable terms and potential. Perth property prices to go upMarket analysts have reported that Perth rentals and sales will represent the best property buying in Australia in 2020. (Core Logic, RP Data)

How a Buyer’s agent works here in Perth 
First, you engage us, selecting us to work for you. We discuss your medium and long-term goals in the purchase of the home of your choice; be it to live in, keep for investment or renovate and flip. 

It is here that the experience of a buyer’s agent in Perth can save you real time and money. 

As a buyer’s agent, we are looking at potential properties every day, continually reviewing investment opportunities for our clients. We have access to off-market properties because of our association with so many agents. Further, we’ve built up a multitude of relationships over the 45 years we’ve operated in the Perth Real estate market. We do all the property hunting and bring to you the prize properties that will fit your budget and criteria.

You may be considering doing all of this yourself. If you’re going solo, here are some of the areas that you will need to cover:
> What to buy
> Where to buy
> When to buy
> Talking to mortgage brokers
> Selecting a settlement agent
> Viewing a range of properties sometimes up to 50 to 60 or more 
> Writing the most effective special conditions on your contract  
> Getting inside knowledge to assist in your negotiation strategy
> Getting building inspections done                                                                                                                                               

These cover a number of the obvious things you must take into account.        As a result, many people delay and watch the market go down. They think it will go even further.                                                                                                                                         

By reading the signs and using our experience, you can tell when the downturn has ended, and when the upturn begins (or began)!

Don’t delay. Contact us for a free consultation. https://buyingperthrealestate.com/buyers-agent/

First Time Buyers for West Australia Beware !!!

First Time Buyers for West Australia Beware

West Australia’s First Time buyers should be getting a better deal

In a number of states across the country including Western Australia, First Time Buyers are being encouraged to build or buy new.  A question arises, is that really the right move for them to make?

The First Home Buyers Grant, only available if First Home Buyers build or buy new is obviously skewed towards helping the home building industry – but is it in their interests?

I don’t think so!

As a professional in the real estate industry for over four decades, I strongly agree with Damian Collins, President of the WA Real Estate Institute.
He recently made the point that, “The first home people buy is the most important.”
This is because it is capital growth from their first home that will enable them to afford the trade up to their next home.
 

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The reality is that better capital growth generally occurs in established suburbs rather than outer suburb localities where new housing and subdivisions are being established.
So to this degree the First Home Buyers Grant is pitched, and it is not doing First Home Buyers many favours at all.

As a Buyers’ Agent I strongly advise First Home Buyers purchase their property extremely selectively.
If they wish to build new, I go out of my way to find a block in a locality that has potential for capital growth.
 
Unfortunately First Home Buyers are not being given the guidance they should.
 
If a First Home Buyer is able to purchase without recourse to the First Home Buyers Grant they’re best advised to buy an established property.
The reason for this, particularly when using a Buying Agent is that prices on established homes are almost always negotiable.
People selling an established home are often motivated to sell and will consider offers if the offer is presented professionally.
 

The seller could be keen to upgrade, move to another location or be forced to sell because of circumstances; this means the price could be negotiable.
Whereas unless builders and developers are desperate to sell in abnormal market conditions, it makes it unlikely to be able to negotiate on a new build.

In saying that, the discount obtained through a professionally negotiated offer could well be equal to or more than the First Home Buyers’ Grant.
A perfect reason to use the services of a Professional Buyers Agent.

As a person who has been in the real estate industry for a considerable number of years. It surprises me that more of Western Australia’s First Home Buyers aren’t using the services of a Buyer’s Agent.

It takes years of experience in the real estate industry to know what the right price of a property is, within a particular market.
It is not necessarily the asking price or what the selling agent is asking for it.

Buying Perth Real Estate is a buyer’s agency dedicated to finding the right property for its clients and to save them money by negotiating the best deal possible on their property of choice.

Let us Help you, click here or give us a phone call:  0412 926 190 – you’ll be pleased for having made the call.

~ Clive Elliott, CEO at Buying Perth Real Estate