3 ways you can confidently price a property.

We find one of the biggest frustrations buyers have is when it comes time to price a property. Coupled with one of their biggest fears, overpaying, the process of pricing can quickly become overwhelming.

In a market where agents are supplying vague price guides, low-balling to generate interest and owners that are still wanting unrealistic prices, how can YOU the buyer accurately create a fair price guide?

Here are 3 ways, we as Buyers Agents create property price guides for our clients.

RECENT COMPARABLE SALES: Take a look at the recently SOLD properties on platforms like realestate.com.au & Domain and search for properties with the same characteristics. For example, compare homes that share the same; 3 Bed, 2 Bath, 2 Car & Land size. You will also need to note the quality of the property in order to create an accurate comparison. A newly renovated home will price differently than an unrenovated home.
DUE DILIGENCE: Next step is to then make sure you are comparing the property to those that share the same property factors. For example, our Due Diligence on a property will check flood zoning. A property that falls within a flood zone will price differently than one that is not. We find that some buyers do get drawn to a cheaper price of a home because on paper it looks like a bargain. But, in actual fact, the property falls heavily within a flood zone, which is reflective of the sale price.
UNDERSTAND SELLERS’ EXPECTATIONS: Our next step to pricing is simply understanding the sellers’ motivations for selling. Are the owners needing a quick sale, moving interstate, or are they simply testing the market to see how much money they can get for their home?Understanding the sellers’ expectations is key to knowing when to initiate negotiations or when to just walk away.

Don’t let a seller or agent talk you into a price guide. Always make sure you do your own homework and come to your own valuation. This will ensure you retain the power and will ensure you avoid overpaying.

Tips for engaging a Buyer’s Agent

Why partner with Universal Buyers Agents…

At Universal, we lead with a clear vision for our company:

‘To create the most respected Buyers Agency within Australia by leading the industry in a people-centric collaborative culture.’
This simply means we create a dynamic and collaborative team environment where all knowledge and experience is shared with everyone. This approach enables each member to carry a diverse understanding of the buying market and deliver this to our clients that achieves not only a great experience, but an exceptional result…

Take a listen below on how our approach has helped our clients achieve their property goals!

Top 5 reasons to use a Buyers Agent!

There are many reasons why clients choose to partner with a Buyers Agent on the purchase of a new property, but, amongst the reasons, there are 5 that seem to continue to repeat…
Let’s take a look!

Time Poor: So many of the buyers we work with just simply don’t have the time to commit to thoroughly purchasing a property. They understand the time required to ensure the right purchase, and so, they recruit the service of a Buyers Agent to help make that happen.
Removing the Emotion: One of the biggest mistakes we see from home buyers is getting too emotional when it comes to buying their home. This emotion often sees buyers overlooking key issues with a property AND often, overpaying just to seal the deal…
Not Dealing with Selling Agents: We find many buyers get frustrated with the buying process due to either the communication or negotiating style of the selling agent. Partnering with a Buyers Agent removes the need to talk with an agent completely, creating a more calm and stress-free experience.
Stock Availability: Some buyers find it hard to search and locate the right property that fits their brief and budget, often due to low stock availability. As Buyers Agents, we have access to a lot more opportunities simply due to our relationships with local agents.
Convenience: We are finding more and more buyers are looking for that turn-key solution. A Buyers Agent does all the heavy lifting, providing the ultimate, hire, find & secure solution.

Does 1 of the 5 reasons above align with you?

Looking to partner with a Buyers Agent on your next purchase? Reach out to the team by clicking the blue button below! We look forward to hearing from you!

Sydney Buyer’s agents’ top property predictions for 2023.

The topic that is top of mind for many buyers at the moment is, what are the Sydney property predictions for 2023?

Chris Clarke from our Sydney UBA team is here to present his beliefs on the upcoming Sydney market.

Consumer confidence

Chris says, the consecutive rate rises last year had put the market into “a bit of a holding pattern” for the majority of 2022.

“Stock was tight last year and is still tight at the start of 2023, however buyers that were sitting on the fence are now starting to make a move,” he says.

“As a business, we have hundreds of buyers that we’re actively talking to that are going to buy in 2023 and the majority are now focused on buying in the first half of the year, it’s just a case of when not if.”

Chris believes February-March 2023 is a turning point.

“Whilst the media is highlighting that there will be at least two more rate increases in 2023… buyers on the ground are increasing their buying sentiment. With so much uncertainty in 2022, those buyers who wanted to buy succumbed to the fear and failed to pull the trigger. Now, with more certainty and prices down by more than 10% yr on yr – they are looking to strike sooner rather than later.”

Which way will prices go?

“I believe the stock will remain pretty tight and the buyer pool will significantly grow and that will push prices as it did 18 months ago,” Chris says.

Stock levels

Chris believes the current shortage of quality Sydney stock will persist throughout the year.

Who will buy?

In Sydney, Chris says first-time property buyers have been active in recent months and their numbers will continue to increase next year.

What will they buy?

Chris is seeing a trend where buyers are looking for “turnkey” finished properties. As a result, he says, unrenovated homes represent good buying opportunities for those who are able to wait out the market’s current trade-related challenges.

So, if you are planning to buy this year and waiting for that ‘drop’ to hit, we believe you may be waiting a while.

Just be mindful, if you are intending to hold this new property for the next 5-10 years, it is likely your property will grow in value, provided you purchase the right property at the right price.

Just think, what is it costing you to wait?

If you need, support, guidance and knowledge about your Sydney purchase in 2023, give us a call on 1300 710 957.