The market has moved on to the next phase of the property cycle.
This means both buyers and sellers both need to adjust their strategies to be successful.
So here are some tips to help no matter which side of a property transaction you find yourself on:
5 TOP TIPS FOR BUYERS
- Do your homework.
Now, more than ever, careful due diligence is critical otherwise you won’t be accurately gauge what a ‘good price’ is.
If you haven’t got the time to inspect hundreds of properties and research the market, why not use the services of the team at Metropole – we’re in the market 7 days a week and have on the ground teams of local area experts in Sydney, Melbourne and Brisbane.
Whether you are a beginner or a seasoned property investor, we would love to help you formulate an investment strategy or do a review of your existing portfolio, and then help you acquire your investment property.
Click here and we’ll be in contact.
2. Don’t be scared of auctions.
Many of the best properties on the market are still being sold by auction.
Go along and be prepared to bid, but make sure you have a sound bidding strategy beforehand.
Attend lots of other auctions to make sure you’re comfortable with how it works or if you’re nervous have someone with more experience bid for you.
3. Don’t waste your time with unrealistic vendors – don’t waste your time or get your hopes up that they’ll reduce the price.
Move on to the next property, but tell the agent to call you if or when the vendor is ready to sell.
4. Don’t wait for everything to be perfect.
Too many buyers want to wait for everything to be perfect before they move on.
This leads to a delayed reaction in a dynamic market that may see them missing out of genuinely good buying opportunities simply because they’re too hesitant to act.
Realise that conditions will never be perfect.
5. Don’t look back.
Many buyers waste time, emotion and energy lamenting on the properties they missed out on.
Instead focus on what’s on the market today, not on what was there yesterday or what may or may not be there tomorrow.
5 TOP TIPS FOR SELLERS
- Make sure you engage an agent who’s active in your local market, who’s a great negotiator and one whose advice you can trust.
Don’t chose the one with the lowest commission.
The cheapest agent is the one who gets you the best price for your property.
2. Price your property correctly or watch it languish on the market.
Buyers are very informed today and are in no mood to entertain overly ambitious sellers.
They’ll simply walk away and look elsewhere.
3. If you get a solid offer prior to auction, get your agent to work the offer hard and sell prior, unless you’re confident you’ll get a higher price at auction.
4. Often you’ll get your best offer in the first week or two of the campaign – remember your property may be new on the market, but most buyers have been looking for a while and will act quickly when they find the right property
5. If you do proceed to an auction, make sure you have a very good auctioneer.
In a market where buyers are reticent to bid, you’ll need a highly skilled auctioneer to work the crowd.
A bonus seller’s tip:
Let Metropole help you with their no extra cost Vendors’ Advocacy Service
Our experience as Australia’s leading property buyers agency shows many vendors don’t achieve an optimum sale price due to poor advice or pressure from their selling agent.
Bu the good news is that now you can have an independent agent from Metropole on your side when you sell your property.
To achieve the highest selling price for your property, you need help finding the right agent to sell your property, as well impartial and strategic advice on the correct timing, the most appropriate method of sale, the most cost effective advertising campaign and the negotiation process.
Metropole’s 6 Step Process To Get You The Best Price.
We will:
- Sit down with you and determine your needs.
- Recommend the best agent (not agency) for you. We know the best agents and the worst agents as we have been buying from them on behalf of our clients for many years.
- Check the agent’s fees and advertising recommendations to save you unnecessary expenses. Should you sell by auction or private sale? How much should you spend on advertising without wasting your money? We’ll tell you!
- Monitor the selling agent’s performance.
- Consider any offers made and give our recommendations to you. Then we’ll help negotiate on your behalf, giving you our input all the way.
- Follow the sale through until settlement.
We charge the Selling Agent a percentage fee based on the sale price of your property which comes out of their commission when the sale is made.
This means that you get our service at no extra charge, but that it is in all our interests that you get the best possible price.
If you want someone you can trust to relieve you of the process of dealing with the Selling Agents give Metropole a call now on 1300 20 30 30 or leave your details here now and we’ll be in contact.
We are independent and work for you – we tell you the truth.
Isn’t that what you want?
from Property UpdateProperty Update https://propertyupdate.com.au/5-top-tips-for-buying-and-selling-in-the-current-market/
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