Archive for the ‘Buying’ Category

How to Buy

A recent dealing with a buyer we met several months ago got me thinking about how buyers typically approach negotiations when buying property. Most are tempted to eagerly point out the property’s apparent – and often obvious – faults. Buyers often “talk down” its benefits and highlight its shortcomings in an apparent precursor to justify a lower-than-reasonable offer to purchase.

Pointing out a property’s … Read the full post »

Purple Bricks Packs its Bags

Budget real estate service model Purple Bricks has announced this week that they are winding up their Australian operations. This is welcome news for consumers of professional real estate services no longer to be lured by an extensive marketing campaign that denigrated traditional real estate agents, promised “no commission” and claimed outstanding results. The news comes after months of grandstanding claims that they were expanding their Australian operations and were … Read the full post »

Choosing your Agent

When the time comes to sell or lease your property, would-be vendors and landlords increasingly look to the internet to help shortlist agents that might meet their needs.

Well established methods of choosing your agent such as re-employing an agent previously used, adverts in the Herald, recommendations from friends and relatives or visiting Home Opens to meet agents remain effective methods.

In the on-line space, REIWA offers reiwa.com Agent Finder; a free, … Read the full post »

Blame Me

Some years ago, local real estate agent (now retired) Peter Sim, boldly ran full page advertisements in the local press headed, “Blame Me.” Why Peter was standing in his suit up to his ankles in the Swan River, I couldn’t tell but the message was on point; an agent acting for a client (the Principal) must take responsibility even when things go wrong.

As an agent working in your community, acting … Read the full post »

Buying “Subject to Sale”

Buyers are, of course, often sellers too. Most people who decide to sell their home also look for an alternate property at the same time and may find something appealing before they have secured a buyer for their own.

Buying a property “subject to the sale of another property” is common and REIWA agents are well equipped to ensure the sale agreement is procedurally correct. Normally such agreements enable the seller … Read the full post »

Why Enlist a Property Manager?

As the Perth rental market gains some traction, it is a good time to talk about the benefits of using a property manager. Property management is more about managing the tenancy than it is about managing the property. This makes sense given the tenant is the one living in and caring for the property, whereas the property manager usually visits a handful of … Read the full post »

Foreign Buyer Tax Trap

On the lazy pretext of “everyone else is doing it”, the McGowan government introduced a new tax on foreign buyers of property as a way of raising additional revenue. About $123 million is expected to be raised over the forward estimates by charging foreigners an extra 7 per cent transfer duty on top of the original stamp duty normally payable.

At Perth’s median house price of about $500,000, that’s a tax … Read the full post »

Reveal all Buyers!

I received an agent’s flyer in my letterbox on the weekend boasting about an “off market” sale. I’m sure the seller is pleased with the result the agent achieved for them and they didn’t need to endure countless home opens and potentially weeks of uncertainty. 

However, they may also have that nagging feeling that they undersold. It’s impossible to know if they would have … Read the full post »

Use a Mortgage Broker

I read a stat the other day that quoted 60 per cent of all home and investment loans are completed by mortgage brokers. I assume the remaining 40 per cent of people go to their bank directly. The community’s preference to use a broker to assist them in choosing the right bank and loan to meet their needs seems clear.

It is expected the … Read the full post »

Be in it to Win it

It’s surprising how often buyers, upon learning their dream home has just sold, will lament not submitting an offer either because, “…we thought the owner wouldn’t have accepted it” or “…we didn’t have our pre-approval for finance yet.” Moreover, despite their interest in a property many buyers fail to convey their interest in the property to the representing agent.

The adage, ‘you have to … Read the full post »

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