Strategies, Tactics and Tips

  • It’s probably going to be a marathon not a sprint
    • Conserve your energy
    • Manage your stamina so you don’t get burnt out
  • Searching is such a large time sink. Be wary and even cut back if you want your weekends back
  • Call the agent and check as much as possible on a place before committing to seeing it
    • Travelling to a place has such a large cost
      • You can’t see other places
        • Distance to another place precludes even more
      • You’re potentially wasting your time
  • Queensland seller agents aren’t allowed to tell you offers but sometimes they let things slip
  • Ask about price range. Surprisingly they tell you.
  • Ask if there are already other offers. How many compared to how many saw the place
  • Older properties will likely have many things wrong with them
  • If Building and pest inspection isn’t done that will mean you’ll have to fork out money to do your own.
    • Be wary of places that don’t already have a B&PI
  • It seems people are keen to sell without many conditions
    • People who have capital locked up in houses and other investments mean they’ll need “subject to sale” or incredibly long settlement windows
    • Some buyers will sell their old place ergo will need to move in immediately. Real problem there if the property is leased. If you can wait, you can use that to your advantage for such properties.
    • If you have loan approval or cash-in-hand you can offer a lower price and still be competitive.
  • If a Building and pest inspection was done try calling up the agents. They often have notes that they didn’t include in the report for whatever reason or could help disambiguate some wording
  • Take a screenshot of a listing. If a listing lied and the agent tries to cover up you’ll have proof.
  • Young families are really relying on the first home buyers concession to remove stamp duty
    • They’ll be searching for places at the concession limit
    • If you’re able to look at places above that you will have less competition
  • Due to 30 settlements and counterincentives, you will rarely get to see the number a place sold for until much later.
    • If you’re hoping to get a “feel” for the market unfortunately you’re going to be waiting a long time