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Private Sale – It’s a game of Cluedo

Private Sale – It’s a game of Cluedo
Private Sale – It’s a game of Cluedo! Methods of Sale (and non sale) are changing. Over the next few weeks our Masterclasses will be discussing Private Sale Value, Strategies and Tactics. It’s not what you know but who you know. Private Sale Negotiations rule 101 is know who you should be dealing with – the [...]
How to Value the Top End in this market

How to Value the Top End in this market

Recently we gave a talk to more than a hundred high net worth individuals at the Sandringham Yacht Club for Peter Wilson of Godfrey Pembroke where we involved the participants in a hands-on exercise that introduced them to “valuing” high end homes. There were three steps to the process. First we asked them to give [...]
The Block broke all the rules in the book

The Block broke all the rules in the book

The Block was great entertainment – but for me it was also the best reality TV show in a decade because it showed the harsh reality of what happens when you break all the rules in the property investment book. I took the opportunity to go through each property a few weeks before the auctions and [...]
Don’t confuse market uncertainty with elevated risk

Don’t confuse market uncertainty with elevated risk

There are enough quality stats out there to show that this year so far has been a great one for buyers. And it could become even more so, given the good post Easter stock levels and prices already around 10% lower than early last year. But winter in 2011 is also bringing a certain level of [...]
Double-fronter or two storey, single-fronted cottage?

Double-fronter or two storey, single-fronted cottage?

  Should you buy a double-fronted house or a single-fronted cottage with upstairs extension? You might think there’s no contest, especially when it comes to a Victorian style  house. Why would you buy a house the width of a single room plus hallway, when you could have a nice wide house with two cheerful windows either side [...]
Buying a home when there are kids in the picture

Buying a home when there are kids in the picture

The inner suburbs of Bayside, such as Elwood, Albert Park and Port Melbourne, are great places to live when you are footloose and child-free. But what if you’ve got plans to have kids down the track? Being able to walk to the local Turtle cafe in Elwood and take a short tram ride on No 79 through [...]
Placing a value on a building

Placing a value on a building

Valuing land is difficult enough, but there are even more variables when it comes to getting a consistent opinion of the market value of an actual building. We always counsel long term passive investors to buy purely on land value, or to buy proven populist homes like Victorians and Edwardians as opposed to new homes.  Why? Buildings [...]
Putting a Price on Land Value

Putting a Price on Land Value

Market value is useful when considering capital growth, however unlike with the share market, the market value of a property is often more a concept than an exact figure – and everybody has their own ‘recipe’ for how to go about it. But there are three consistent ‘ingredients’, that agents use to get a sense [...]
How to Find Out Market Value

How to Find Out Market Value

While the value you place on a property is ultimately the most important factor in influencing what you are prepared to pay, you also want to know its market value. But how do you know what that is? Is there some secret market value formula? No there is no single definitive “sticker price” market value figure [...]
Understanding Market Value is Important

Understanding Market Value is Important

Last week we pointed out that valuing a home is a bit like different vegetable soup recipes. Everybody has a different way of doing it. However, in the end the most important opinion of value is yours. But that doesn’t mean you should ignore what the rest of the market (the majority of other informed buyers [...]
Whose Opinion Counts Most In Deciding the Worth of a Property?

Whose Opinion Counts Most In Deciding the Worth of a Property?

With Super Saturday done and dusted, and the primary focus of the real estate industry now on which of Bart’s ponies has the best chance in the Cup, we can return to our series on worth, price and values. A fortnight ago we talked about how a home’s worth can mean different things to different people. [...]
A Home = Land + Building + Emotion

A Home = Land + Building + Emotion

The elephant in the room for agents is always: “How much is it worth?”. You might be having a nice conversation about the weather or the footy, and the amazing fact that you both know Peter who went to the same school as so and so. But anyone, whether buyer or seller
Backward Bidding

Backward Bidding

Backward bidding is about throwing stones, it’s about fighting back, it’s about saying enough is enough.
Understanding agent cultures

Understanding agent cultures

Different cultures have different values and different interpretations of what appear to be the same thing. Just as business people need to find the most appropriate way to interact with, and do business with, people of other cultures, so too do home buyers have to find the right way to deal with selling agents.
The best pre-negotiation tool may be a coffee

The best pre-negotiation tool may be a coffee

If you feel that a win-win style will work for you; then you need to give a little to get a little before you can finalise a strategy. Prior to starting one on one negotiations, you need a forum for pre-negotiation discussions and I much prefer a coffee to a phone line. Naivety, experience and lack of preparation are not good prerequisites for the sorts of meetings I outline below, so if you don't feel it's you or if you have loose lips then engage a professional.

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