Dakota Peters
Inspections Officer
Get the property you want, at the right price with tips from property experts Universal Buyers Agents.
IT CAN be hard not to get caught up in the thrill and adrenaline of a home auction, but a good auction strategy can ensure you walk away with your dream property when the hammer drops.
Universal Buyers Agents property expert Brad Weston recommends coming to the auction prepared with a game plan and all your checks and balances complete.
“Firstly, you really need to come prepared,” Mr Weston said.
“Do your homework prior to the auction because you don’t want to be caught up not knowing details about the property or the process.”
As auctions do not allow for a cooling off period like a typical home purchase, Mr Weston strongly urges buyers to perform all building and pest inspections beforehand, seek pre-approval for finance and do their due diligence on the property to determine its true value.
“Don’t just use gut instinct or the real estate agents guide on price,” he said.
“Make sure you look at past sales, use information from the building and pest inspection reports, look at the neighbourhood, check development applications, crime statistics, public works projects.
“These could uncover some serious flaws on the property that drive down the value.”
Secondly, he said buyers should bid early to establish themselves in the bidding process.
“You need to set a tempo from the start,” he said.
“Try and keep the bid at your pace.
“You choose how fast you’d like to push the price, don’t fall victim to the hundreds of techniques auctioneers use to drive up bidding.
“Engage the help of a buyer’s agent to handle the bid for you if’s is something you find daunting.”
Bidders should also place themselves near the auctioneer, choose an uneven number as your maximum bid to set yourself apart from competition and bid in odd increments to slow down the auctioneer as they will take longer to add the numbers up.
Finally, he recommends buyers commit to a bidding threshold and don’t push past their budget.
“People can easily get caught up in the adrenaline of the auction,” he said.
‘There’s other people there, plenty of activity, there’s the emotional element of feeling like they might miss out which can cause buyers to pay above their limit.
“Sometimes using a third party can help break up the emotional attachment so you don’t end up overspending.”
Universal Buyers Agents offers an experienced and professional buyer’s advocacy service for those looking to buy a home or property. Contact us now to find out more information.
When to call in the help of an expert. Universal Buyers Agents work with property buyers of all budgets and briefs.
USING a buyer’s agent to purchase a property used to be the preserve of the rich or famous, but an increasing number of buyers are using the services of an expert to secure the best deal.
Universal Buyers Agents property expert Darren Piper said one of the biggest misconceptions about buyer’s agents is that they’re expensive and only used for high-value property purchases.
“We often get asked what type of clients we work with,” Mr Piper said.
“I think the biggest misconception is that we only deal with a high net worth clientele, which couldn’t be further from the truth.
“We help everyone from first home buyers, up-sizers and down-sizers, entry-level investors all the way through to seasoned investors, interstate buyers relocating from elsewhere in Australia – we handle it all.”
Ready to leap off the rental treadmill and onto the property ladder but unsure of the process? This is where a buyer’s agent is crucial. There are dozens of hidden costs, procedures and processes first home buyers struggle to prepare for. That’s why so many now enlist the help of an expert to help handle the bidding and sale process or find a property which has long-term potential.
Downsizers are an asset-rich group of buyers who are looking to trade in their large family home for a smaller residence, usually for a change in lifestyle or reduced maintenance. Although they may not be strangers to the buying process, they engage buyer’s agents to help find properties “off-market” they wouldn’t normally have access to online. They may also want help at auction or need an expert eye to perform due diligence and make sure they’re making the right choice.
Moving is tough without the added pressure of entering an unfamiliar property market. This is where an experienced buyer’s agent can help navigate the process. A buyer’s agent can work with a client brief or wish list and find the perfect home.
Some buyers spend months searching for the right property only to be disappointed. If a buyer has had their preapproval lapse, struggle to find what they’re looking for or don’t have the time to keep searching a buyer’s agent can be a helpful tool. They can connect buyer’s to off-market properties the general public won’t see and perform inspections and checks on their behalf.
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Universal Buyers Agents offers an experienced and professional buyer’s advocacy service for those looking to buy a home or property. Contact us now to find out more information.
Queensland property sales are expected to remain steady following the federal government’s decision to extend JobKeeper, says property expert Universal Buyers Agents.
UBA property expert Darren Piper said the extension to JobKeeper program beyond September will continue to protect housing prices and bolster confidence in the property market into next quarter.
“We’ve had a bumper two months of buying activity across our business,” Mr Darren Piper said.
“In fact, we’ve seen an increase in both enquiries and purchases during height of COVID-19 restrictions.
“The only thing that was holding back more buyers from entering the market was uncertainty around whether JobKeeper would continue beyond September, so now that is resolved I expect to see a lot more activity and confidence in the property market as we head further into the year.”
JobKeeper employment support program will be extended into 2021, though payments will reduce from $1500 a fortnight at present to $1200 this year and $1000 next year.
“Those buyers were we feeling uncertain about purchasing a home now have a bit more confidence so I fully expect to see a rush of activity this quarter,” he said.
Queensland’s property prices have held steady despite doomsday predictions of a slump, especially compared to Southern states.
CoreLogic data revealed Queensland housing values have dropped just 0.4 per cent in the month to June 30, 2020, compared to a 0.8 per cent drop in Sydney and 1.1 per cent drop in Melbourne.
“Considering the wider weak economic conditions associated with the pandemic a fall of less than half a percent over the month shows the market has so far been pretty resilient,” Mr Piper said.
“The extra nine-month certainty that comes with JobKeeper extension will go a long way to giving buyers even more confidence.”
He said Queensland’s property market had weathered the storm better than other major cities such as Sydney and Melbourne and many interstate investors were casting their eye to the Sunshine State for opportunities.
“Although the market is strong, it still pays to seek expert advice to make sure your investment works for you even into the future,” Mr Piper said.
“Our team can help do all the heavy lifting, research, negotiating and provide in-depth advice so you have peace of mind even as we go through major changes during the pandemic.”
Hoping to buy a property? You can save up to hundreds of thousands of dollars if you get some help from a buyers agent. Keep reading to find out how.
Buyers agents can save property buyers up to hundreds of thousands of dollars, snap up exclusive properties off market and save hours of time and stress, according to property experts.
Universal Buyers Agents director Darren Piper said he’s seen a rise in property buyers – from first home buyers and their parents, investors, upsizers and downsizers and overseas buyers – enlisting the services of a buyer’s agent to make the buying process easier.
“As banks tighten up their lending, competition increases in the market and personal circumstances change buyers’ agents become the most powerful bargaining tool you didn’t even know you needed,” Mr Darren Piper said.
Buyers agents are licenced professionals who specialise in searching, evaluating and negotiating the purchase of property on behalf of a buyer.
Unlike real estate agents, who primarily look after the interests of the seller of a property, a buyer’s agent looks after the buyer.
“One of the top reasons people come to us is because we live and breathe the market and can make sure you end up with the best deal,” Mr Piper said.
“We’ve had Mums and Dad’s even gift the services of our buyers’ agents to their kids for their first home purchase to make sure they are making the right financial choices rather than an emotional one.”
A buyer’s agent can offer a full service, where they seek out properties, negotiate the purchase (whether it’s by private sale or auction) and help with the contract process.
They can also step in to manage the heavy lifting around auctions for those who already have a property in their sights and want to get the best deal.
“Another top reason buyers seek our help is to navigate what can be an intimidating negotiating process,” he said.
“Often, we see buyers slip up in the negotiation stage because they were afraid to ask for what they want, get talked into spending over budget or falling into auction traps.
“We work with agents, sellers, and banks day in day out and can help manage the stress and make it an easy process.”
Buyers agents also have access to a huge range of off-market properties through their extensive network of agents and sellers.
“Some of the best deals happen off-market,” he said.
“Maybe it’s a distressed sale, or the seller wants to keep their sale private, we get access to deals you won’t find on your own.
“With the market undergoing so much change in a post COVID-19 world, now is a great time to have an expert in your corner.”
Whether you’re buying a property in a private sale or an auction, you need these tips to help you get the best deal possible.
Buying property is not easy, but property experts Universal Buyers Agents reveal their tips for what to do to ensure success, no matter the buying style.
UBA property expert Darren Piper said buyers often walk away from a negotiation disappointed because they were unfamiliar with the differences in buying styles and the best way to ensure their offer is selected.
“There’s a big difference in the way you purchase a property in a private sale versus an auction,” Mr Piper said.
“But all too often buyers go in with the same mentality and preparation and find themselves leaving the exchange disappointed because they didn’t know how to handle the buying process.”
Mr. Piper said in private sales doing homework is essential. Buyers should always know the recent sale price of similar properties, neighbourhood developments and changes, when the property last sold and for how much and what projected growth opportunities or rental income could be achieved.
“A buyer’s agent can do a lot of this for you, but if you’re doing it yourself, make sure you allow plenty of time to do your due diligence before making an offer,” he said.
“When you do, make sure you understand what payments are necessary on signing contracts, including the right conditions and what a fair bid is.”
An auction differs significantly as many of the conditions which offer a buffer for buyers don’t apply.
Mr Piper recommends starting the bidding prepared to follow through as auctions don’t follow the “offer and acceptance” method of a private sale.
“The normal buying method allows you to do your research after the acceptance of your offer and before the signing of the property transaction contract,” he said.
“This is not the case for an auction, you need to gather all the information you need before you enter the auction.”
Cooling off periods often don’t apply at auctions as well so buyers must be prepared to follow through on their bid at the fall of the hammer.
“You should always bid within an amount you can commit to,” Mr Piper said.
“That’s why you should always come to the auction knowing exactly what your budget is. A good trick is to set the maximum amount you can spend above a round number, if you decided that $900,000 is your upper limit, consider whether you could stretch to $904,000, this could help you win over bidders who have the same as your initial upper limit.”
Finally, he recommends if the process is too stressful or needs an expert eye, buyers should engage help from a buyer’s agent to ensure they get the best chance of success.
Property experts Universal Buyers Agents warn buyers are falling into common purchasing traps leading to overpayment, bad investments and hidden costs.
UBA Property expert Darren Piper said buying property can be an exciting time but can also be overwhelming especially for those new to the market.
He said many buyers fall into the most common trap of letting their emotions get the better of their decision making by “falling in love” with a property.
“While this is great in your private life, falling madly in love with a home and becoming emotionally invested can be a problem,” Mr Piper said.
“Once a buyer starts making decisions with their heart instead of their head, that’s when they pay too much for a property, overlook important issues and desperation kicks in, clouding judgment.”
“This is where the help of an impartial expert can help you make a decision with a level head.”
Buyers are also being caught out paying too much for property because they are talked into buying above their budget and failing to do their research about the home and surrounding area.
“It’s all too easy to extend your price range a little if your perfect home is just a few thousand above your limit,” he said.
“But being talked into buying a home outside your price range could derail your finances and leave you vulnerable to potential financial shocks including interest rate rises and market downturns.
“You may also find what you think is your perfect home but failing to research the area is a big mistake.”
He said getting to know the neighbourhood buyers are potentially going to spend the next 10 years of their life in is crucial.
“Research nearby schools find out about any current or future developments, public transport and check out the local crime rates,” he said.
Failing to prepare finances before buyers start looking was another common mistake leading to some buyers failing to secure finance and losing their dream home starting the process again.
Mr Piper said many buyers also underestimate the cost of buying a house that online mortgage calculators don’t factor in.
“There are more costs involved in purchasing property than just the property itself,” he said.
“There is the cost of building and pest inspections, insurance, conveyancing, stamp duty, transfer fees and moving costs.
“Engaging with a buyers agent can help you navigate these common mistakes and lean on our expertise to ensure you get the best deal for the long term.
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