Empower Blog Real Estate Agents

Tips for Buying at Auction – Part 1

I find that lots of buyers are really reluctant to go to auction and to be honest, for good reasons because its largely a process that favors the seller and of course, the auctioneer. But here's five tips that I can give you to help you better prepare for when you're buying your next property at auction. Auction Tip No.1 The first one is quite simp...

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Sometimes bidding at auction can really pay off

Many buyers like to shy away from auctions altogether, eliminating even the potential for securing that particular asset. It’s fair to say that most buyers tremble at the thought of having to fight it out in a public place, where agent ‘spin’ and underquoting can confuse even the most organised of buyers. But the reality is that most VENDORS...

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Auction: A Love Hate Relationship

Understanding why there's such a love-hate relationship in why buyers and sellers don't really like the auction process but the real estate agents do is really understanding what's in it for the real estate agent and the first thing is basically, vendor paid advertising for them personally and their business's brand. They've got the big billboards ...

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What Causes Auction Property Sales Results to Fly Past the Quoted Range? It is the Agents’ Fault?

Buyers get very frustrated by auction results exceeding quote ranges; and justifiably so. Interested buyers invest emotional energy, precious time, and in many cases, valuable dollars when they shortlist and pursue a suitable property. Building inspections, solicitor’s review fees and travel costs can make a property pre-purchase adventure quite ...

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Is the Real Estate Agent a Friend or Foe?

I’m often amused by the antagonistic approach that some buyers adopt when dealing with a real estate agent in the midst of a negotiation.  Sure, the agent is employed by the seller to get them the best price and terms and draw as much money as they possibly can from the buyer but equally, they’re a crucial cog in the chain for you getting the ...

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What is the ONE thing in a negotiation that can get you across the line?

As Buyers Agents, when we are at a party or a BBQ, inevitably the discussion with a new person turns to work. “So, what do you do?” can give way to a whole night of exciting questions and tales about houses, real estate agents, property investing, horror and success stories. It’s almost as interesting a discussion as one you’d have with a c...

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Is the week before Christmas a good time to buy property?

If you happen to find a property you like in December, you can be savvy and secure it in the weeks leading up to Christmas because as the buyer you generally hold all the negotiating cards at this time.  Once December rolls around, the buying competition becomes thinner as most are thinking more about Christmas day approaching and the related work...

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An early Christmas present?

We are engaged by property buyers for several reasons; ranging from investors who wish to be steered in the right direction for their investment purchases, through to clients who feel their blood run cold at the thought of bidding at auction. In fact, many buyers flick through the pages on the real estate search engines and dismiss properties that...

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Fifty Shades of Underquoting

There are different levels of underquoting but when will it be considered unacceptable? As the media keeps reminding us, we find ourselves in the midst of a Buyer's market.  There are many aspects of this current market which also remind us of the current status; from lower than average auction clearance rates to reducing interest rates.  On...

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Why are people so scared of auctions?

It’s true. Melbournians are scared of auctions. For some, the very idea of an auction sends adrenaline rushing, but for others it throws a great property listing onto the scrapheap before they have even seen it in real life. We constantly field questions about auctions and introduce ideas for clients to combat some of their auction concerns. ...

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Negotiation Tactics in a ‘Sellers’ Market – Part Two

3. Establish recent sales to justify your offer Recent sales of comparative properties can help in getting the estate agent to help support your price offer, but you must compare apples with apples, don’t compare weatherboard with Brick or vastly different land size blocks etc.   4.  Start with a long term settlement When you put your...

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