| Episode: | E166 |
| Show Title: | Springing into Selling Action |
| Cast: | Aaron Horne, Patrick Berry, & John McGregor |
| Show Length: | 31 minutes 07 seconds |
From fixed pricing to private treaties, the team this week will guide you through the latest trends and strategies for Spring in the Hobart real estate market. Whether you’re a first-time buyer or a seasoned investor, The Property Pod has something for everyone. Tune in each week for valuable information and expert advice on all things real estate.
EPISODE TRANSCRIPT
John McGregor
The good thing about a fixed price is always it’s the most transparent way in a private trading, which is that’s the price. If you pay it, you’ll get it.
[intro music]
Aaron Horne
All right, guys, welcome back to The Property Pod, your weekly engagement to real estate here in the Hobart marketplace. I’m your host, Aaron Horne. Rolls off the tongue like a dream. Welcome back, team, Patrick Berry, John McGregor, get off your phone–
John McGregor
I’m taking notes, baby.
Aaron Horne
You’re taking notes. Oh yes. He’s prepared. Oh, he’s getting prepared, right as we say.
Patrick Berry
Exactly. That’s a level of excellence.
John McGregor
Well, that’s how much preparation time I had.
Aaron Horne
Well.
Patrick Berry
I encourage.
Aaron Horne
You know.
Patrick Berry
The great black screams black. But I’ve got that out.
Aaron Horne
Could I ask you what your notes are now, or are we going to save them for a bit later in the now?
John McGregor
That was just the yeah. The points for bias.
Aaron Horne
Gotcha.
John McGregor
Until three. We’re done.
Aaron Horne
Oh, very good. Well, look, it’s. It’s spring. The sun has been shining for about three days straight now. It’s been absolutely cracking weather and I thought, oh, it’s baby. Yes. Well, you make sure it’s all.
Patrick Berry
Throughout, but it’s not as cold.
Aaron Horne
I don’t think it’s comfortable. I actually love when you’ve got a business meeting coming up and you’ll be wearing the pants. You’ll have the pants on still in your hat in your and your t shirt. But about, you know, something important on today.
Patrick Berry
Yeah, I.
Aaron Horne
Thought I better get dressed up.
Patrick Berry
Put some pants on.
Aaron Horne
Today. It’s interesting. I actually thought well, just before we jump into some of the other stuff, I mean, you’ve been doing something pretty interesting this last week, going out to schools and helping out the Smith family and kind of explaining our jobs to future seekers to to kids in the community. Yeah.
Patrick Berry
Like ten and nine year olds. Yeah. Which has been interesting to explain real estate to a nine year old.
Aaron Horne
Well, like the other thing is as we were going in, because part of what they’ve been doing is they’ve been kind of saying stand up the front and give them five words about your job and let them know what you do. And and they’ll guess kind of what they think you do based on what you’ve said or a little prop you’ve brought along.
Aaron Horne
And Pat, the very first one, he’s there and he said, I work with passes, the communication and the.
Patrick Berry
Pants on that. I tell you I just had a hoodie.
Aaron Horne
I got. Yeah, but the, the questions were construction worker, builder, architect, everything other than real estate agent. And then when we left I was like, I wonder if it is that that idea of what a real estate agent is is slicked back hair. So it’s kind of.
Patrick Berry
And the.
Aaron Horne
Photo. John Yeah.
Patrick Berry
And then yesterday I’m in shorts and a t shirt. John And I’m getting tattoo artist because I’ve got to say something. And I was carrying an iPad with a pencil, so they’re like, Oh, you must be a tattoo artist. I wish I was like, Why not.
Aaron Horne
Let us on the path of like, what if because they send you out to little groups and say, you know, talk to the kids in in groups and explain your job? What if just one or two we did a choose your own Adventure? Oh, yeah. It was like, yeah, after I am a tattoo artist, tell us what you do.
Patrick Berry
Drawing a stick, man. It would have.
John McGregor
Been worth just riffing on it, and.
Patrick Berry
I might not get invited back though. John.
Aaron Horne
All they might like at lunch time. Yeah, I was told a tattoo artist, he told me he was going to actually sorry to some of these other kids. You know how I took my broken drone? Yeah, I took it. A broken drone. Just I thought that’s probably safer than taking in the real one and it not coming back or any of those kind of things.
Aaron Horne
And this one kid was looking at it and he was basically analysing the parts of a broken. And as I was talking to him, he was saying, like, I’ll make my dad pull heaps of things apart and put them back together. Like, Oh yeah, you just need a part for this. And I was like, Oh, you can actually trust you, this nine year old kid, the way he was like looking at the bit and he’s like, Yeah, so this bit’s broken and this it’s broken.
Aaron Horne
If you fix that, it’ll be fine. I was like, okay, so it’s.
John McGregor
Zero and there is just genuine interest. Yeah, well, this work.
Patrick Berry
And I don’t know which kid you’re talking about. It was a table of two. Yeah, yeah, yeah.
Aaron Horne
It was really interesting. Look, the good thing was it was basically. Yeah, providing all these kids with an idea of what you can do out of school once you’re finished. It’s kind of if you can’t see it, you can’t be it kind of idea. So that like there was God from the army, from the Navy.
Patrick Berry
It was a neuroscience person there.
Aaron Horne
But the first one we went to, it was three scientists and MANPADS. Right? We are like we are so underqualified for that.
Patrick Berry
So he got like a computer science, a chemist and a neuroscientist. And then Aaron and Pat. Yeah.
John McGregor
Highest education, comparative.
Aaron Horne
Yeah. But that look, we’ll, we’ll take this review at the end. At the end they said I had to find it and they both pointed back that we want to be like those two.
Patrick Berry
Kids in there.
Aaron Horne
Yeah. That was like, yeah, we basically just play video games and chill out.
Patrick Berry
Unfortunately, though, yes, I will trump by two army people that had tanks and guns. It was tough to beat those guys.
Aaron Horne
We’ve found where we sit in that sort of thing.
Patrick Berry
One step up from scientists. Yeah.
John McGregor
Next time he could bring I was going to say a giant dollhouse I don’t have that’s going to have the same effect as tanks but.
Aaron Horne
What were the how to dollhouse.
Patrick Berry
Because we sell houses he’s getting at the point that it’s a house, it’s.
Aaron Horne
Got to go.
John McGregor
You can start doing design or this is what we actually do to in daily basis, which of course you.
Aaron Horne
Fair enough. What is this a school for. Yeah.
John McGregor
Yeah. You need props, baby. That’s what it.
Patrick Berry
Is. John Got is now looking pictures. Well, Mr. Zeller, if we just use this carpet choice here in the house, right. That we can recreate in your.
John McGregor
Place and here’s the extra children and blah blah blah that’s he’s a divorce process I’ll give you a to use.
Patrick Berry
This room.
John McGregor
Discovered that.
Patrick Berry
Has a big intake the couch the.
Aaron Horne
Says oh Molly.
Patrick Berry
This has gone way off to this.
Aaron Horne
Life out of the.
John McGregor
Baby. Don’t bring that in for the Smith family. But, you know.
Aaron Horne
Yeah, look, that’s really cool. Andrea and the team that have been putting it together and we’ve been liaising with have been wonderful. That’s gone.
Patrick Berry
All I can think of is like, how you selling stuff? Mr. Invest let’s talk about duplexes.
John McGregor
Yeah, yeah, yeah.
Aaron Horne
Not too bad. We actually have a guest coming up soon that’s got some ideas on duplexes. Yeah. Hold that thought out. No, look, shout out to those guys. It’s been pretty interesting. Going out into schools has actually has reaffirmed my belief of because one of the questions the kids have been asking is, what was your dream job when you’re a kid?
Aaron Horne
And I actually used to be a teacher. I left school and I’m trying to be a teacher, not a teacher for a few years. And then like teaching stacks like. Yeah, pretty much. Yeah, that’s actually yeah, I’m pretty happy actually. You guys always both kind of have gone into the family business when you were kids. I know lots of people that have family businesses kind of say, I’m going to do the the furthest thing away from what my parents do and then find themself ending up doing it when you were kids, what was the dream job that wasn’t real estate?
John McGregor
The first one that comes to mind was a chef on a Navy ship.
Patrick Berry
Oh, I thought you were going to say like a private yacht. Yeah, yeah.
Aaron Horne
I was thinking like the love boat or cruise cruise around the world as a ship.
Patrick Berry
Now that’s a shut out. But with those heads coming through Jamie chest.
John McGregor
That’s when it became a teenager and interested in girls. You know, the shift changed me. That’s the earliest. I’m sure there’s other references when I was. Yeah, yeah. But I just remember that one being a first conscious choice of a decision. Yeah, I’m glad I didn’t do it. But it’s so much in the Navy specifically.
Aaron Horne
Yeah. Someone said you’ve got 50 guesses to guess what John might have wanted to be as a kid. Never got that right.
John McGregor
Yeah, that the first of.
Patrick Berry
Us, I was a computer game nerd, so I was all about websites, games and spaces.
Aaron Horne
So you’re not. You’re not too far off, like, in your field, you play with all those toys. So yeah. And John cooks at home. So yeah, he puts, he puts on a shirt and shows and.
John McGregor
Just giant bowls of slop, you know, huge tins.
Patrick Berry
Well, if you want to join the Navy. I met the lady. Yes. To one of the head. Recruiters say, you know.
John McGregor
If I need to pivot.
Patrick Berry
I can open a connexion for you that works.
Aaron Horne
So, yeah, no, that’s something we’ve been doing. Kind of. We should probably get to real estate stuff, but just before we jump further down into that rabbit hole, the past two weeks here at fall and fall have been really exciting as well. There’s been just an absolute energy in the office and that is thanks to some visitors coming out to to spend two weeks with us here onshore.
Aaron Horne
Just kind to let the listeners know what’s happened here at four and four in that period.
Patrick Berry
Yeah. So for people that don’t know, we actually have four employees in the Philippines and they do a lot of our admin type work. And yeah, we had the pleasure of bringing them out to meet the team here in Australia for the last two weeks.
Aaron Horne
Yeah. So in the past you’ve been there two times.
Patrick Berry
Three times. I’ve been twice. Abby’s been three times to work with them over there.
Aaron Horne
So yeah, doing a bunch of training and kind of setting up procedure and operating procedure. That’s it. Setting up, setting up things and kind of and building a bond with them.
Patrick Berry
And figuring out how to make, you know, workflow work when they’re on the other side of the world.
Aaron Horne
Yeah yeah. You can a zoom meetings really handy but it’s it’s ways.
Patrick Berry
It’s way quicker to teach if you’re side by side with somebody that says I’m so.
Aaron Horne
You’ve been over there 2 to 3 times and then that this is an opportunity to bring them out to, to Australia. And yeah.
Patrick Berry
So Abby and I have a really strong connexion with these four and every time we wave them we just love being around them and we wanted everyone here in the office to experience that is, although everyone gets to talk to them, it’s different having a relationship with somebody on a zoom versus meeting them in person. And so we felt that it was really important that everyone got to spend time with them.
Patrick Berry
So yeah, yeah, they came visit it and it’s been really good fun. I’ve been a tour guide of Hobart for the last two weeks.
Aaron Horne
Yeah, it’s so funny when you have have people coming into our state or coming to visit and you put your tour guide hat on and you kind of realise you’re like, I know a fair bit about all this stuff, but man, I could know so much more.
John McGregor
Absolutely. Yeah.
Aaron Horne
Think so. Yeah. Get going around and you know, taking their as well so yeah classic the mountain Salamanca market.
Patrick Berry
Yep. In the mountain. Like they loved it up there and they like how often you come out like never.
Aaron Horne
Yeah, I’ve been up here probably four times in my entire life. I got it here. Like, why wouldn’t you be doing this all the time? Oh.
Patrick Berry
Take, like, 30 minutes to drive to the top. It’s too much effort.
Aaron Horne
Yeah, yeah. And it’s funny. It’s kind of asking at the end, kind of, what were your highlights of the trip? And I know Wren said one of them was like actually driving on the road and not just being bumper to bumper for hours and just being able to get places in an instant sort of thing.
Patrick Berry
Yeah, well, I was talking to Queen about that and on one of the trips we had together and she was saying that most Philippine people will allow an hour and a half to 2 hours before the appointment to get where they’re going. Just traffic. Yeah, yeah. That’s probably why I said it’s going to allow so much time. She’s just don’t know what type of traffic you’re going to hit.
Aaron Horne
Yeah. So we’re so blessed in obviously that there’s, there’s traffic, so we’re coming back down the mountain. I think I said yes. Oh, jeez. I wouldn’t get stuck in that final traffic coming back down the mountain. And I would have just thought like, this is not traffic. What the hell? I’m struggling with some cars that are backed up for like two extra minutes.
Patrick Berry
I had the dominant traffic one day with Darrell in the car and I went over to the side straight to avoid a news light. But it was moving like yeah, it was annoying me. Who’s going to slide saved 30 seconds by moving over to this road.
John McGregor
You’re moving.
Aaron Horne
And I’m. Yeah, I’m a happy chappy about it but yeah so they’ve been in, it’s been really, really, really cool having them boots on the ground and yeah, the goodbyes are really hard. It was really sad to say like, oh, you know well so here back to the zoom because they had built these bonds and but yeah, I think it’s been really beneficial for us.
Patrick Berry
It was definitely fun. I enjoyed it. Yeah.
Aaron Horne
So yeah that’s been I’ve been a Hutto shout out to Darrel Wrens Queen and Ninyo our BPO staff in the Philippines they’re yeah absolute superstars and look forward to seeing you again.
Patrick Berry
I’m sure they’ll be back at some stage.
Aaron Horne
That’s the plan. Yeah. They gave me a list of the things that they didn’t get to see that they thought they might and dying to see wallabies or kangaroos. Right? Right. We didn’t get it till the very last. I like planned it three times. The weather kept turning on us. Was it like worst case? We’ll just go up like the top of land or get to local park.
Aaron Horne
You’ll say one. I think I saw one the night before it. Mary Giant’s place. They did. Yeah but yes it was.
Patrick Berry
That it was time feeding them.
Aaron Horne
Still still heaps of heaps of stuff to do and say here in Tassie. So yeah, hopefully we’ll have them back for some more adventures.
Patrick Berry
Definitely.
Aaron Horne
But speaking of bad weather and moving from bad weather into something brand new, what a signal that this guy’s such a. Who is this guy? He’s just a star of podcasting screen moving from the bad weather into the beautiful weather of spring. It is always a fun time. I know. John always says it is probably the most active time in real estate.
John McGregor
It may mate. It’s the numbers site. So I was going to say using science, not all statistics.
Patrick Berry
Science is amazing.
John McGregor
Statistics. But yeah, that’s when the most transactions happen.
Aaron Horne
Yeah. So we’ve we’ve just sprung into it feels like spring is in action. My lawn is growing so fast I got go out every weekend. We’re kind of in that life affirming, bringing action back to the market. Is it going to change this season? Are we looking up stagnant, dropping? What’s happening out there.
John McGregor
For me I just more so get excited by the transactions rather than the price in many ways.
Patrick Berry
If I like the transactions too, because that means we’re getting paid just exactly.
John McGregor
You know.
Aaron Horne
So it’s maybe I didn’t phrase my question is the market is it is it looking good for sellers or looking good for buyers? Not whether the prices are fluctuating or so.
Patrick Berry
Yeah. How are we finding over the last couple of weeks.
Aaron Horne
Yeah. Are we starting to see more people that open homes? Are we starting to see that the listings that are sitting there will have.
Patrick Berry
Definitely seen more enquiries coming through real estate dotcom over the last week or two. There’s definitely been an uptake in more people sending through enquiries, booking inspections. Yeah. Normally that then flows through to buyers committing to purchase. Yeah. So I definitely see that there is some movement there. I think it’s helped that interest rates have stayed the same for the last two months to three months to.
John McGregor
Something like that.
Patrick Berry
Yeah. And I think now people are starting to feel a bit more confident in their decision. Yeah, sure. So I think, you know, I think if you’ve got a window that is motivated to sell, they’ll definitely sell in this marketplace. It’s just now a matter of finding what is that happy medium for price.
Aaron Horne
Yes.
Patrick Berry
So that’s we’re not experiencing the same market we did two years ago where things were going up rapidly. And unfortunately, there’s still a few vendors out there that are expecting that type of return. Yeah, but the ones that have realised where the market sits and that they are still making an amazing profit in the time they’ve owned it, they’re being very successful in selling.
Aaron Horne
So getting that, getting that price right is I guess a really key one. And I’m afraid it basically like, yeah, the offers over kind of method before which we spoke about was kind of encouraging people to keep throwing numbers higher and higher and creating that competition, competition that way. Now it feels like if you kind of throw that out there and people are expecting I’m going to have to offer 50,000 over that.
Aaron Horne
You’re not enquiring not enquiring about it. So is it finding that real sweet spot where saying like, this is my non-negotiable number? And then I know there’s price ranges that are kind of being used, but I’ve seen a few other ones. Or it’s just literally like, Here’s the price.
Patrick Berry
Jones benefactor, fan of Ben.
John McGregor
He’s the price at the moment. Yeah, yeah. There’s only the last five listings that are brought on. I think three of them or three of them are fixed price. Then there’s an offers around and then there is one last one which is an offers over, which is a call-back to these guys intending to list three or four months ago.
John McGregor
Yeah, my whole reasoning behind that is in these markets where it’s still effectively a buyer’s market, there’s where they are taking their time. You know, there is an as much interest and that same price is declining. The the reason I suppose we’d moved to a fixed price was always seeing that negotiating above an offers over was a lot harder.
John McGregor
Yeah. So before we’re so used to buyers going oh gosh, the price is going up a bit off over at the moment they’re saying the opposite to like well one I don’t want to do that and so now what I’d rather see that you know negotiating under so at least the because when they would say well what would the unacceptable although you’d have to go off is that easy 650 example Yeah, but we’ll just present some interest and see where it goes.
John McGregor
And then an owner would be catering offer can offering higher than that offer. Yeah it starts to get confusing but at least with the fixed prices to say well they will accept this 50. Yeah. And I’m sure if you wanted to offer above the asking price, I’m sure that they accept that too. And I think the anecdotally it’s been a refreshing sense from the buyers of the properties to go, well, okay, if I want it, I’ll pay that price and we can still encourage them to say, well look, if you have any interest, please let us know.
John McGregor
And it actually has been that idea where when we’re priced that you’ll have that bracket. It could be 550 to 575 seems like a fair value. Yeah. Just listed the 575 and then using our network and other listings to bring buyers through and sideways and still encouraging them to make an offer. And a good example was when we had advice in court where the owners were very comfortable with anything between 550 to 575 listed at 575.
John McGregor
Um, Martin from our office bought a contract. I think it’s like 565. I think we ended up negotiating, which was right in our range and they’re really happy with that. Yeah, sure. And I know it depending upon your school of thought, they will also look advertise aggressively to bring in that interest. But with the conversations I’ve had with our clients, I say, look, if we’re comfortable with knowing we’re going to be on the market for 2 to 4 weeks before we’re probably going to find an offer that you’re comfortable with.
John McGregor
This is a strategy we’re going to do. And I’m like, That sounds great. It gives them that opportunity to feel like they’ve advertised at their highest dream price and that with confidence they will probably adjust to the market if the interest isn’t there. So that’s how we’ve sort of adjusted and buyers have sort of anecdotally have appreciated that fact as well.
Aaron Horne
Yeah use Hyson as an example was that a 2 to 4 week campaign is that one feels like it kind of came and went really quickly so I was kind of right on the cusp of the early side of the two weeks like it it hit and yet you like your range there was five 5575. Yeah. Smack bang in the middle.
Aaron Horne
That’s kind of where you had negotiated it too. So it’s that thing again of being in and on the market, which is what we’ve talked about before. That seems like really crucial currently.
John McGregor
Yeah, yeah. And you can and again, every pricing strategy is going to work and it’s about making that balance with the client. I suppose the good thing about a fixed price is always it’s the most transparent way in a private treaty, which is that’s the price to be paid. You get it? Yeah. Yeah. And outside of that open to negotiation.
John McGregor
So in this changing market, I’ve just found that a little bit easier to work with from a negotiation standpoint. From the perspective of Anonymous. Yeah, especially when you’ve got properties that are buyers are saying what else have you got properties that need a little bit of renovation. They’re not spick and span. There’s not a giant amount of demand for them.
John McGregor
So just fixing that price is a lot easier rather than trying to negotiate, you know, for a competitive property, creating competition where there just isn’t one for that kind of property at the moment. Yeah, yeah.
Aaron Horne
Yeah. So I think that.
Patrick Berry
All right, well, I’ve got one for you to throw out. If you’re a buyer, what are your three things that you should be looking for, like in spring, to be able to find that dream house? Like, oh, three tips, I guess.
John McGregor
Yeah. These are the new toys.
Aaron Horne
No.
Patrick Berry
Yeah, I want to get him back on track. And then you had. No, it’s. I don’t have. No, it’s I’m going to be under the right. It’s a still on strike on my side. But John’s got. No, it’s.
Aaron Horne
Not that I’m.
John McGregor
Self-Employed. Well, I guess this is just a just dumped it from a couple of conversations that have happened the last few days from the open homes and follow ups. But the three points I had was get your act together. Um, what do you need? What can you compromise on and get comfortable with negotiating? So get your act together, which is we’ve talked about a bunch.
John McGregor
Get your team together. Yeah. Yeah. That’s also knowing your position. So.
Patrick Berry
So that’s talking to your finance broker, talking to your building inspector, having everything lined up ready to.
John McGregor
Go and your legal as well. So you’ve got your contacts, you’re not doing it later on. They know who you are, what you’re looking for and connect quickly. Yeah, because.
Patrick Berry
That just shows strength to the agent as well. If you’re able to go to the agent and be like, yep, my lawyer is this my finance broker? I’m pretty approve of this guy already. I just need you to send him the contract. Yeah. That then creates a better conversation for you as the agent to talk to the the vendor.
John McGregor
Well, and that comes through into the negotiation later because people always think it’s price but this term so but the other one too was know who’s influencing your decision so that could be well maybe had gone deep. Ooh, we had no house deep. There was a, there was a family where there was, the two came from Melbourne. They’re her best mate, he just happened to be it.
John McGregor
And then her mum and dad were there at the same time. So if there’s multiple people that you’re it will influence, try and get them through the inspections if you can, because they may be on your side or they may be working directly against you, like by accident. Yeah, that can be sometimes relative who would just absolutely smash a property because all it’s it’s bad.
John McGregor
As bad, as bad, as bad. But they think they’re acting in your best interest.
Patrick Berry
So that’s dad of a daughter.
John McGregor
That’s right.
Patrick Berry
You know, just a stereotype that they used to be whenever I’ve had.
Aaron Horne
I think Sarah’s mum was the one when we were looking, she was like, I don’t know about this. And I was like.
Patrick Berry
Well, I’m not sure about going, okay, you can’t.
Aaron Horne
See my vision. I’ve got a vision for this one.
Patrick Berry
Yeah. So sometimes there is that parent that wants the best for the.
John McGregor
And sometimes they’re terrible. Like their advice is awful. Yeah. Yeah. So that’s the thing where if you know, is influencing a decision, try and lean on a person who’s either been there, done that, or has some actual expertise. Yeah. Yeah. And that’s where, you know, choosing your team is important because it’s like, yep, pay them respect. Thank you so much for your impact.
John McGregor
And they completely forget everything that they.
Patrick Berry
Thanks Mum and Dad, I appreciate you coming along. But to pack those thoughts.
John McGregor
So that’s that quick, get your act together because that’s giving you confidence in starting to make these decisions moving forward. So the thought was, what do you need and what can you compromise on? So these elements of what to look for, yeah, one of the things I’ve done is really interesting and last 12 months is the expectation of bedroom size is dramatically changed from our generations and new generations to what they were 30 or 40 years ago.
Patrick Berry
Oh, everyone wants a king size bed these days in.
John McGregor
Every single bedroom. Yeah.
Patrick Berry
So I’ve, I’ve had that conversation with a couple of people recently. I’m like, you’re looking at a two bedroom unit. It’s never going to fit.
John McGregor
Yeah. Yeah, exactly.
Patrick Berry
So I’m actually surprised by how many people are in king size beds. Yeah.
Aaron Horne
Like, I would never have guessed that as I like. Yeah, I guess thinking about from a buyer’s point of view, going and looking at a house and you know, the bedrooms we have in our 1970s, I’m way bigger than this one. I’ve got the big tent and all that stuff showing up all around. But very good point.
John McGregor
And I don’t think that’s necessarily a bad thing to have. Hi expectations. But in these markets, especially in this area where a lot of them were ex housing, they’re 9200 square metres. Generally speaking, they are just that old, old style of expectation. Yeah. Um.
Patrick Berry
I think you can have a king in every bedroom. I just some would be king singles, not king beds.
John McGregor
Well, I mean it’s we’ve got a king bed in that. It’s just it took up the entire room. It’s a mistake. Yeah, but, you know, that’s a that’s a thing where if you’re looking at the house, it’s that knowing what you can compromise on. So I know there are those of us that can’t quite visualise changes, and that might be important if you can’t make changes in your budget.
John McGregor
But if you’ve got the my thought was the look at your areas so be open to I specifically want the suburbs you need this suburb you know is is there are others can they give you the same of what you needed based on your lifestyle? Yeah. So that’s where I refuse. Based on a prejudice. Well, maybe a prejudice is wrong.
John McGregor
And like, I know there was a lady who said the other day, I’m going to skip this suburb and go from Moonah to Montrose and just skip the walk. And I think that’s a mistake.
Patrick Berry
And I been Glenorchy poor as well.
John McGregor
So it’s the you know, it’s sort of your area can often reside based on your prejudices it’s not not so much in reality. Yeah. Yeah. But that’s just a thought would be open to jumping across the street or across the suburb. That was that. I love that theory.
Patrick Berry
Like, I mean I’ve recently moved here to the centre of Glenorchy right behind the office and we get kind of like a Newtown Moonah lifestyle here in Glenorchy. We walked everything. Yeah, yeah, sure. There’s not quite as not quite as many restaurants or coffee shops, but there is a really good coffee shop down the road. There’s the coffee club.
Patrick Berry
If you want to go have breakfast like there are still services within walking distance that give you a similar filter. Yamuna, Newtown, North Hobart, absolutely. Here in Glenorchy. So and it’s a cheaper area.
John McGregor
To live 100%. Yeah. And the transports do you know. Really good. Yeah. So that’s a thought. The when it comes to their bedrooms in the hall is it be open to speaking with someone who knows how to move a wall around. You know, so sometimes a little, you know a layout if you’ve got it there’s only so much you can do with a 90 square metre house.
John McGregor
But if you’ve got 120 square metre house with the bedrooms a little bit odd, or maybe there is a subject to the floor plan where you can move those things.
Aaron Horne
Well, yeah, this is what happened with me and my place. And maybe what Sara’s mum couldn’t say was I literally walked in. I was like, You pull this room out, you’ve got this massive living area that will be open plan, living kitchen and then all the bedrooms are at the other end. Perfect. I got this. I’ll take.
John McGregor
It. Yeah.
Aaron Horne
I think she was like, Oh, no, it’s a bit nooky. And you can’t really.
Patrick Berry
See you in even further than I went. So I vision that when I looked at your place for the first time. But the bit that I love is you had an outdoor laundry and you removed the linen cupboard in the hallway to create a door back inside the laundry. Condemned inside. Brilliant. I didn’t even say that. I’m surprised we had a spot this stuff and.
Patrick Berry
Well, the.
Aaron Horne
Other spot of being like well you can’t remove all the storage was the laundry was huge. The outdoor laundry had so much space and we had liquid.
Patrick Berry
Storage in there.
Aaron Horne
Yeah, it’s like, well, you just turn the storage basically and put that in that way and everybody wins. So yeah, and it’s those things where if you can’t say it, you can’t imagine it. And it was like, Yeah, no, it’s actually a very good.
John McGregor
Point, John. And I guess it comes down to your personality. If you can’t visualise that, bring along someone who can, because when it comes to a finished product, what people are really buying and paying a premium for is time. So they don’t have to go through this headache, which is renovating, so they’ll buy that finished product and pay a premium for it.
John McGregor
So obviously that’s just opening up yourself to more options.
Patrick Berry
So you available for retainer if someone needs that vision.
Aaron Horne
Come and point out all the bits of woes. You can move.
Patrick Berry
Forward all your building.
Aaron Horne
Okay, so you know that one’s load bearing, one can not be moved.
John McGregor
And so I guess the third point then was you’ve got to get comfortable negotiating and if you can’t again get someone who can because negotiation is conflict, you know, sometimes it can be very pleasant. But the reality is, is that all? But I just want to say that, you know, because people.
Patrick Berry
Don’t want to end them like, yeah, because I’ve had that with feedback. I’m like, Well, what do you think it’s worth? Oh no, what? You’ve got it advertise. That’s fair. Well, if it was fair, then you’d be interested in making the offer. Yeah. So clearly you don’t believe it’s worth what I’m asking, so, you know, tell us honestly what you think it is.
Patrick Berry
And then they open up and I’m like, Well, actually, I think it’s blah, blah, blah, blah, blah. And I was like, This is what we need to know.
John McGregor
Would you be comfortable putting that in? Writing will present the owner. Maybe they’ll consider.
Patrick Berry
It. Yeah, yeah, yeah. So you do have to know that you can’t offend anyone with feedback. Feedback is out. King At the.
John McGregor
Moment, I think it’s be okay if they are offended. It’s not your fault that your opinion offend somebody. Yeah, it’s, um, it’s, it’s it’s it’s on that other person. So I guess when it comes to negotiation two is that that’s where the getting confidence confident in your position is you can go straight into you don’t have to worry about oh who’s your building inspection now it’s already sold like it was already sorted.
John McGregor
You know, your finance that’s already sorted. And so then you can start to talk about us. But a question, questions like is it going to be helpful if I want it to sorted, I don’t need my 28 days. I can bring it down to 14 and we can settle sooner. Would that help, you know. Yeah. That the owner.
John McGregor
What did I need more time so you can be flexible and, you know, negotiate with your timeframes? Yeah. Not just with price. Um, but obviously from a buyer’s perspective, the tighter the contract is more attractive to the owner, which will allow you to hopefully negotiate a better price. Let’s just advocate for the buyers here. Um, and the good thing is in that, okay, making an offer beneath the asking price, this is the market where it happens.
John McGregor
You know, the last few years it just, that just was not an option. But the reality at the moment is that most properties are probably selling below the advertised price, and that’s perfectly fine. Um, the idea that, um, you know, either party has to think that it has to go either way is just wrong. Like the price of real estate is subjective.
John McGregor
Yeah. Yeah. And be okay with offering a lower price just to get that process started.
Patrick Berry
And it’s interesting for anyone to note out there as well, like what you’re describing is the vendor discount. So it’s the original list price versus the sale price. And the difference between the two now six months ago that was up around six or 7%, that’s now down to about 1.5%. So there is still a bit happening, but agents and owners are now advertising their homes a lot closer to the mark of where people are prepared to accept.
Patrick Berry
Yeah. Versus before where there was a big gap and so properties were having to be dropped by, you know, 30, 40, $50,000 to get a deal together.
John McGregor
And so interesting because it’s buyers that drive the price of the market, not the owners. Yeah, yeah. Because when that market was running hot hours and the owner’s expectations were less than what the buyers were prepared to pay. And then as, as market, you know, the demand drops so too. So it goes the other way around as well.
Patrick Berry
Yeah. So yeah, just know that there is negotiation there but it’s probably not as big as what it potentially once was.
John McGregor
Yeah. Yeah. And the thing is too, even in my case with these properties is that the counter offer is the asking price and the look. But but no because look in this black we’ve priced it fairly. We believe it’s true. And that’s the you know, that is the price you need to pay. And some people will be comfortable with that.
John McGregor
In other cases, it has to adjust, you know, so it just depends.
Patrick Berry
Definitely.
Aaron Horne
Yeah, cool. Well, actually, I was going to throw to Pat because he he’s right does wear on strike and he hasn’t had a chance to prepare but I think the strike is over or there’s talk that it could be over.
Patrick Berry
So my guys haven’t come back, but I’ve.
Aaron Horne
Got to give you a wake. But I’m not going to give away what St John’s given us such an in-depth kind of breakdown of of what to look for as a buyer in the spring market and give you a week to prepare. I’m going to check out your notes next day. I’m going to come back. Better not be a black scribe.
Patrick Berry
All power out after next week.
Aaron Horne
I can imagine you just going to hit chat, but I need three responses. However, back next week we’ll talk about three things that sellers should be looking for.
Patrick Berry
It sounds good. I love the part two.
Aaron Horne
I love a part two. I love the property part like show. I subscribe to all the things if you guess coming up in the coming months.
Patrick Berry
Yeah sounds good.
John McGregor
To me sometime.
Patrick Berry
The next week guys.
Aaron Horne
Bye!
{extro & disclaimer]
