Brisbane is tipped to have the strongest property market in Australia in the next few years.
Recent figures released by the Real Estate Institute of Queensland has revealed the Sunshine State capital has welcomed its first $2 million suburb.
The March quarter saw median house prices in Teneriffe rise to $2.075 million, while a record 15 Brisbane suburbs rose to million-dollar status.
House prices annually have grown 4 per cent in Brisbane, taking the annual median to $650,000.
Darren said the Brisbane house market had once again proven itself to be a solid performer.
“This market consistently performs well for property owners, while maintaining its affordable status,” she said.
“Brisbane now has its first $2 million suburb with Teneriffe, but compare this with Sydney, which has more than a dozen, possibly up to 14 suburbs with a median house price of $2 million or more.”
However, leading real estate industry figure John McGrath said Brisbane would soon start to catch up to its southern rivals, Sydney and Melbourne.
Darren Piper described the Brisbane market as “undervalued”
“We think Southeast Queensland, and Brisbane is a focal point, is going to be one of the strongest markets in Australia,” he said.
“We think it is going to be the strongest market in Australia for the next three to five years.
Universal Buyers Agents director Darren Piper says the Brisbane property market is strong, compared to other major cities.
“One-bedroom units in Sydney are selling for $850,000 to $900,000, you can buy better property with more upside in Brisbane for half that,” he says.
“Brisbane delivers the strongest returns for investors with rental yields of 4.1 per cent for house and 5.2 per cent for units, higher than Sydney, 2.8 per cent and 3.7 per cent and Melbourne, 2.6 per cent and 4.2 per cent.”
NOT every property makes it to market with plenty being transacted without a sign even being hammered into the front lawn.
So how do you snare yourself an off market property?
Buyers agent Darren Piper of Universal Buyers Agents said off-market sales were a way that some savvy home buyers and investors could avoid the pitfalls of buying at auction or with more competition.
Owners sell off market for a number of reasons, he said, including not wanting dozens of people traipsing through your home at open inspections.
Finding the properties was all about networking. Mr Piper said a buyer’s agent could do the hard yards, letterbox drops, cold calls, and doorknocking.
“In my experience the majority of off-market or pre listings are available by having strong relationships in place with agents,’’ he said.
“I firmly believe some of the best buying is off-market,’’ he said.
Mr Piper’s 5 tips for buying off market are:
– Even though it’s off market don’t forget the checks and balances. Do your due diligence such as building and pest inspections and council searches.
– Have your finances ready to go before you start searching.
“This puts you in a very strong position when ready to negotiate,’’ he said.
– Make sure you know the market and what the property is worth as 90 per cent of off market properties don’t have a price on them given they are not “listed”.
– Understand why the seller isn’t putting the property on the market. This could be as they are very private or don’t want open homes.
– Be patient. Given the property isn’t on the market the sellers might need more time to consider where to move to if living in it. Rent back options can work really well in this situation
Mr Piper said one of the biggest mistakes buyers make is falling madly in love with a home, and getting emotionally invested.
“Once a buyer starts making decisions with their hearts instead of their heads, that’s when they pay too much for a property, overlook important issues, and desperation kicks in, clouding judgment,” he said.
Mr Piper recommended, particularly for first home buyers, that enlisting the help of a buyers agent could help avoid this trap.
The sort of money involved with buying property is far greater than most other purchases in life.
So much so it can almost begin to feel like Monopoly money, and it becomes all too easy to expand your price range just a little, just in case your perfect home is waiting for a few thousand dollars more.
“This is when a buyer will fall in love with a more appealing home that is just too expensive, and desperation kicks in,” Mr Piper said.
Mr Piper said buyers should also be aware of “real estate agents who might talk you into buying a home outside your price range, which could derail your finances in the future.”
“Don’t be tempted — spending more than you need to leaves you vulnerable to potential financial shocks, including rises in interest rates or changes in future circumstances,” he said.
The home may tick all the boxes, but failing to research the area is a big mistake that could lead to a life in a great home, but in a terrible area.
Mr Piper says it pays to get to know the neighbourhood you are potentially going to spend the rest of your life.
“Research nearby schools; find out about any current or future developments; make note of public transport; and make sure you check out the local crime rates,” he said.
“A buyers agent often has an intimate understanding of property trends in each suburb, and knows all about council regulations, possible plans for redevelopment and median house prices in the area.”
The home may tick all the boxes, but failing to research the area is a big mistake that could lead to a life in a great home, but in a terrible area.
Mr Piper says it pays to get to know the neighbourhood you are potentially going to spend the rest of your life.
“Research nearby schools; find out about any current or future developments; make note of public transport; and make sure you check out the local crime rates,” he said.
“A buyers agent often has an intimate understanding of property trends in each suburb, and knows all about council regulations, possible plans for redevelopment and median house prices in the area.”
The smart homebuyer will make sure they have assessed finances and needs before making the househunting plunge.
“It’s important to analyse assets, organise debts, and get pre-approved for finance before starting the journey,” Mr Piper said.
“When purchasing a property, there are many things to think about, and some of these may be a surprise to first homebuyers.”
There are more costs involved in purchasing a property than just the property itself.
“Often, buyers fail to take into account building inspections and reports, strata reports, pest inspections, and council inspections,” Mr Piper said.
“There are also additional costs involved after you purchase a home, including insurance, moving costs, inspection reports, stamp duty, council rates and transfer fees.
“A buyers agent will not only keep a buyer up-to- date with any expense that may arise, but they also have an extensive list of contacts built up over time.
“This includes real estate agents, other investors, business owners and associations, as well as building and pest inspectors, mortgage brokers and conveyancers — making the whole process a breeze.”
Buyer’s agents are changing the way people are entering the property market.
Whether you are a first homebuyer or an experienced investor with multiple homes under your belt – the simplicity and stress-free process of hiring a buyer’s agent to help find your dream home is becoming more and more appealing to buyer’s of all levels.
When it comes to selecting a buyer’s agent that is right for you, Universal Buyers Agent director Darren Piper says there are six questions a property buyer should be asking.
Part of being an effective and valuable buyer’s agent is having extensive, in-depth knowledge of the property industry. Theywill use their knowledge of the industry to help you make the best decisions when it comes to purchasing a property.
A buyer’s agent should havean intimate understanding of property trends in each suburb, and know all the ins and outs of council regulations, possible plans for redevelopment and median house prices.
Look for a buyer’s agent with expert knowledge of their local market, Darren says.
“A buyer’s agent should be able to tell you with confidence which streets are the best within a suburb, and which streets you should avoid,” he says.
“They should also be switched on to any future developments that could impact your purchase.”
Darren says it is also important to keep in mind that each capital city in Australia will be in different stages of the property cycles and will have multiple property markets.
“Whether you are buying a property locally or interstate, it is worth usingan expert that knows the local market.”
This is probably one of the most important questions. Purchasing a property can be a very expensive process, with many unexpected costs arising along the way. So you want to make sure any money you are forking out is going to be worth it.
A buyer’s agent should not only save you countless hours of scrolling through real estate websites, they will also save you stress, and more importantly, money.
“From paying too much for a home, overlooking extra expenses associated with inspections and approvals, as well as costs that may pop up in the future, such as body corporate fees, council rates and insurance, the figures can stack up and leave a buyer in financial turmoil,” Darren says.
“Investing in a buyer’s agent saves a first-home buyer, or even a more seasoned property investor, not only stress but also a significant amount of money.”
A buyer’s agent should also be an expert negotiator and use their comprehensive knowledge of the property market to negotiate the lowest possible price for the buyer’s ideal home.
Check online testimonials to see if your agent has satisfied other buyer’s.
The age-old saying ‘it’s not what you know, it’s who you know’ couldn’t be more apt in the real estate industry.
According to Darren, a top-notch buyer’s agent shouldhave an extensive list of contacts built up over time – including real estate agents, other investors, business owners and associations, as well as building and pest inspectors, mortgage brokers and conveyancers.
“This means they are often presented with off-the-market opportunities, which opens up your possibilities and maximises your ability to grow your investment property portfolio, or find the perfect home for your family,” he says.
Darren says you should be confident that a buyer’s agent will know how to research how much to pay for your property?
“Ask them what criteria they use to assess properties, how they compile market data and how they conduct research,” he suggests.
Every state and territory in Australia has different licensing requirements for buying property, so its important to make sure the agency you select holds a real estate qualification for the state that you’ll be buying property in.
To learn more about the benefits of a buyer’s agent, visit www.universalbuyersagents.com.au.
Australian-owned and operated, Universal Buyers Agents is made up of an experienced and passionate team driven to ensure your future is secured financially by investing in blue chip localities. To us, it’s not about the transaction today but rather, the ten into the future.
The Universal brand was born as a result of increasing market demand for a service that was not only comprehensive but served the buyer, not the seller. In today’s fast paced industry and market competitiveness, making a mistake has increased tenfold, so don’t make one. Working with Universal Buyers Agents takes the pressure, risk, and stress off the purchase so we can focus on uncovering and buying the right property, at the right price, every time. Whether you’re looking for your first property, a development opportunity, commercial or industrial sites, land and house packages, or investments, we can advise, support, manage, or consult on a level that suits or is required.
When purchasing a property, first home buyers are like deers in the headlights and can very quickly be taken advantage of.
A common trap a buyer often falls into is putting their full trust in real estate agents, forgetting the agents are working for the seller – not the buyer.
Often, a selling agent will sniff out a first home buyer and assume they lack the industry knowledge or the skills to get a better price for their dream home.
And often, they are right.
A buyers agent works with a home buyer to ensure they get their dream home, for the best price possible.
With an extensive knowledge of the property market and expert negotiating skills, a buyers agent is able to leave emotions at the door, often saving the buyers thousands of dollars in the long-run.
Universal Buyers Agents director Darren Piper offers his top five tips to become an expert negotiator.
“Successful negotiators are assertive and challenge everything – they know that everything is negotiable,” Darren says.
“I call this negotiation consciousness. Negotiation consciousness is what makes the difference between negotiators and everybody else on the planet.”
“I am amazed by all the people I meet who can’t stop talking,” Darren says.
“Negotiators are detectives – they ask probing questions and then shut up.
“The other negotiator will tell you everything you need to know – all you have to do is listen.”
3. Do your homework.
“This is what detectives do. Gather as much pertinent information prior to your negotiation. What are their needs? What pressures do they feel? What options do they have?
“Doing your homework is vital to successful negotiation. You can’t make accurate decisions without understanding the other side’s situation.
“The more information you have about the people with whom you are negotiating, the stronger you will be. People who consistently leave money on the table probably fail to do their homework.”
“If you depend too much on the positive outcome of a negotiation, you lose your ability to say no,” Darren says.
“When you say to yourself, ‘I will walk if I can’t conclude a deal that is satisfactory’, the other side can tell that you mean business.”
“Your patience can be devastating to the other negotiator if they are in a hurry because they start to believe that you are not under pressure to conclude the deal,” Darren says.
To learn more about the benefits of a buyers agent, visit www.universalbuyersagents.com.au.
About Universal Buyers Agents
Australian-owned and operated, Universal Buyers Agents is made up of an experienced and passionate team driven to ensure your future is secured financially by investing in blue chip localities. To us, it’s not about the transaction today but rather, the ten into the future.
The Universal brand was born as a result of increasing market demand for a service that was not only comprehensive but served the buyer, not the seller. In today’s fast paced industry and market competitiveness, making a mistake has increased tenfold, so don’t make one. Working with Universal Buyers Agents takes the pressure, risk, and stress off the purchase so we can focus on uncovering and buying the right property, at the right price, every time. Whether you’re looking for your first property, a development opportunity, commercial or industrial sites, land and house packages, or investments, we can advise, support, manage, or consult on a level that suits or is required.
There is a somewhat disheartening side to purchasing property that is seldom discussed.
It doesn’t happen overnight, and it doesn’t always happen as soon as the process has begun.
For some, purchasing a home can take months and, in some cases, years.
After more than a year searching for their first home with no success, a young Brisbane couple was close to giving up hope.
Andrew Shaw and Liz Webb were on the hunt for their dream home – a “typical Queenslander” with character, a nice kitchen and an entertaining area.
“We are a couple in our 20s, getting towards the big 3-0 and we have been talking about getting into the property market for the last couple of years,” Andrew and Liz said.
“We’ve been together for the past seven years and have been living together for three years, so rather than spending money on rent we wanted to put our money towards a place we can own and make a home for ourselves and start to set ourselves up for the future.”
The search didn’t go as smoothly as they expected, with 12 months of scrolling through listings online, and six months of unsuccessful auctions and offers under their belt.
“We would see a property listed online and would be at the open home that weekend,” the couple said.
“We started seeing the same couples every weekend, so we knew the competition would be tough.
“When we got serious and started placing offers on houses, we’d find ourselves in a situation where multiple offers were on the table.
“We’d be going in fairly blind with our offers, and we had no idea where we stood.
“We also found ourselves at auctions where the bidding crept over what we thought was value.”
Andrew and Liz soon realised they needed a competitive advantage if they ever wanted to find their ideal home.
Scrolling through LinkedIn, Andrew came across Universal Buyers Agents director Darren Piper.
“After signing up to his mailing list, I received a phone call from Darren and we spoke about the search we had been on for a property,” Andrew said.
“At the time Liz and I were about to put an offer on a property in Gordan Park.
“The place was going to be sold prior to auction, so we found ourselves in a multiple-offer situation again.
“Darren was happy to give me advice on the process and his thoughts on the value of the property, however again we missed out as we were outbid by another party.
“From that conversation, Liz and I decided to hire Darren due to how willing he was to give us the advice, and the fact he said he could locate these properties off-market so we had a chance to go for them without as much competition.”
And the rest, as they say, is history.
Within two weeks of hiring Darren, Liz and Andrew had signed a contract to move into their new home – a beautiful Queenslander in a great area, with a pool as well.
“It was a massive relief to have found a property so quickly, and we were amazed to have had a shot at buying our ideal property before it was even listed online,” the couple said.
“To be honest it was pretty surreal how quickly we were able to secure this property – we had a contract signed within 48 hours of Darren finding the property through his network.
“Darren was fantastic, even before we hired him he was open to giving us advice and information and he never put any pressure on us to sign up with him.
“From the very start he knew exactly what we wanted and was confident he could find the right property for us.”
Andrew and Liz said they were “consumed” with the real estate market and spent all their spare time scrolling through hundreds and thousands of online property listings.
Darren did the groundwork for us and could cut our list down to a more targeted number of properties that ticked the boxes,” they said.
“When we got Darren on board, we actually got time back.”
Liz and Andrew said not only did Darren save them time; he also gave them honest insight into the market.
“One of the many benefits of having Darren working with us, was we actually had insight on what was fair value from an expert in the field, and he kept us accountable to make sure we weren’t overpaying,” they said.
“Darren wasn’t just thinking about what we wanted short-term, he helped set us up for success in the long run as well, regarding property values and growth opportunity.
“He could have just let us buy the first property we saw, but he wanted us to find the best property in our price bracket.”
Darren said using a buyers agent gives the buyer a competitive edge in a very fast-paced industry.
“Using a buyers agent will ensure the buyer is exposed to every single opportunity both on and off market,” Darren said.
“When most people only transact six times in their life, you would be silly not to safeguard this investment/purchase by using a professional.”
Purchasing a property is an overwhelming experience for first homebuyers, who are often taken advantage of by real estate agents.
“There is a big misconception that the selling agent is there to help the buyer – this is not the case,” Darren said.
“The selling agent is paid by the seller to get the highest price whereas a buyers agent is there to ensure the buyer buys the right property at the right price.
“Our aim is to level the playing field and challenge the status quo when it comes to buying property.”
Darren said first home buyersalso tend to get emotionally invested throughout the process, which can seriously cost a buyer in the long-term.
“Emotional situations can cause you to make bad financial decisions,” he says.
“Buyers agents are here to guide the buyer and keep a logical mindset and keep the emotion out of the transaction, therefore buying at the lowest price.”
Once a buyer starts making decisions with their hearts instead of their heads, that’s when they pay too much for a property and overlook important issues.
Pointing to Andrew and Liz as an example, Darren said no dream home is too out of reach or difficult to find.
With an extensive knowledge of the property market, as well as connections in the industry, which allow access to not-yet-advertised properties, buyers agents can find a property that ticks all the boxes – regardless of how many there are.
Inspections Officer
Property Manager
Buyers Agent
Business Development Manager
Buyers Agent
Searcher and Sourcer
Buyers Agent
Searcher and Sourcer – Team Piper
Buyers Agent
Client Concierge
Associate
Buyers Agent
