oc | Saturday 19th October
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Got Questions?

We have bought 1000’s of homes since 2002
We are a small team of area specialists producing outstanding results for our clients

Contact:
Gina 0457 835 255
Mal 0408 107 988
It’s confidential

Is it any good and how much is it worth?



Or call our office to book a call back appointment 03 9804 3133


We are now buying a third of our homes off market

13 Smith Road, Camberwell sells Under the Hammer at a strong auction with 6 bidders. Auctioneer Walter Dodich

13 Smith Road, Camberwell sells Under the Hammer at a volcanic auction with 6 bidders. Auctioneer Walter Dodich

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20.08.16

200816

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Richard Earle at 11 Amiens Surrey Hills, looking out to his crowd - Sold After $1,835,000, 1 bidder

‘Where are those bloody bidders’, thinks Richard Earle at 11 Amiens, Surrey Hills. Not to worry, sold after in excess of $1,800,000, 1 bidder.

At 6pm the James $M+ Auction Clearance Rate was 83% on the 29 auctions we reported and bid on today.

James Bidderman continues to be very strong at 2.8 bidders per auction. The homes today seemed to be either bought before or under the hammer with volcanic bidding (4+ bidders).

In fact just on 50% of the auctions we reported on today, had 4 or more bidders. That’s WOW, even on low stock numbers.

And the story is all about the lack of stock and the phenomenal prices, on some pretty average homes.

Our best advice to our clients is engage to a point, but hold your fire when it gets well past unreasonable.

Stock levels trending down

Stock levels trending down

How the Market for Smart Buyers is Changing.

We thought you would be interested in these very powerful facts about how James Buyer Advocates is buying.

Off Markets

Just under a third of all homes we now buy are off market – four years ago it was less than 10%.

In fact, look at our May 2015 Stats that we published last year. Click here for those stats.

Only 2 of the 23 homes we were involved in, in May 2015, were off market.

However in 2016 just under 30% of homes we have bought for clients, are off markets (not advertised); either through agents or privately.

Before Auctions

As of August 20 we have bought exactly the same number of homes before auction, as we have bought under the hammer in 2016.

Under the Hammer Auctions

Under the hammer auctions now only represent one third of our successes.

To keep it simple:

4 years ago, 90% of the homes we bought were at auction, under the hammer – now its just on 35%.

And here is another powerful fact:

While under the hammer auctions represented 35% of our successes, they represented almost 100% of our “failures.”

That’s the message in this market.

Be creative and of course get a good buyer advocate – a James Buyer Advocate.

Auctioneer Oliver Bruce sells 50 Fawkner Street, St Kilda After Auction for $1,250,000, 3 bidders

Auctioneer Oliver Bruce nearly does a Usain pose and sells 50 Fawkner Street, St Kilda After Auction for $1,250,000, 3 bidders.

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Kew, 83 Mount Street (Glen Coutinho) – Under the Hammer $3,660,000, 6 bidders

Malvern East, 18 Grant Street (John Bongiorno) – Under the Hammer $2,960,000, 4 bidders

Canterbury, 3 Compton Street (Robert Ding) – Under the Hammer $2,605,000, 3 bidders

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Camberwell, 13 Smith Road (Walter Dodlich) – Under the Hammer $2,177,000, 6 bidders

Hawthorn, 5 Wattle Grove (Hamish Tostevin) – Under the Hammer $1,855,000, 6 bidders

Hawthorn East, 91 Rathmines Road (Antony Woodley) – Under the Hammer $2,350,000, 6 bidders

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Kew, 61 Molesworth Street (Richard Earle) – Passed In $3,650,000, 0 bidders

Malvern, 3 Mary Street (Justin Long) – Passed In $4,525,000, 1 bidder

Hawthorn East, 3 Jacques Street (Glen Coutinho) – Passed In $2,500,000, 0 bidders

 

Welcome to Part 1 of our 3 Part Series on

 

NegotiationNoise

Hey you, what would you know about negotiation?

You’re reading this article because you’re desperate to pick up a free morsel from me; the master, who has already beaten over a hundred agents in one on one dealings – you are a loser without me and you know it.

3 deep breathes please.

I really appreciate your time and you know what, I think I’m going to get more out of this discussion than you – you can teach me a lot. We’ve got a tough row ahead of us, working together to make this happen – but with your determination and our experience, I really think we can……..

Just pause… How did you feel about each of the above statements?

How would you have reacted to me with each one?

How you react is crucial in negotiations and to negotiators.

Next

This happened at the Yacht Club, a few years ago, when speaking to a group of 100 high net worth individuals.

We showed these two pictures.

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Then we gave a very concise story about this off market sale above.

Offered a beautiful bottle of champagne as a prize and appealed to each individual ego in the audience to be the winner.

In less than 5 minutes, under exam like conditions;

90% of the audience valued the homes at $3m to $5m

We added new piece of “evidence” and;

90% of the audience valued the homes at $5m to $6m

A new piece of “evidence” added again and the rules changed;

90% of the audience valued the homes at $6m to $7m

These massive negotiation differences in 90 of the 100 “buyers” were due to engagement and framing processes and the skilled application of them.

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No, not sure what I mean and how relevant this is to Melbourne home buying negotiations.

How about this?

I am with a buying client – I can tell whether or not the female likes the home in less than a minute. The female makes the decision on the home 9 times out of 10.

I can plant a $ figure within the mind of the male ensuring his attachment to the home, matches the female’s; monitor his reaction, raise that figure depending on how he reacted to the first figure; and have the male comfortable he has a handle on price and a view on the home, which matches the female’s commitment.

I can do that without either the female or male saying a word and it’s done in 60 seconds.

That’s why you need a James Buyer Advocate in negotiations.

You don’t like to hear that do you? There feels like there is ego, even arrogance on my part and you feel I am a person who manipulates.

Ok what if I rework it?

The selling agent, the one with that smile; can tell whether or not you like the home in less than a minute. They say that you as a woman, will make the decision on the home 9 times out of 10.

The selling agent then plants a number within the mind of your husband – the selling agent monitors his reaction, raises that number depending on how your husband reacted to the first number and has him comfortable he has a handle on price; and a view on the home matching your commitment.

That’s why you need a James Buyer Advocate in negotiations.

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Above are several key aspects in negotiation:

  • Tone
  • Buy-in
  • Perspective

But all this is chicken shit in the scheme of Melbourne negotiations for sellers.

Mal – You can’t say that, you are a high end buyer advocate who works for buyers and you’ll lose prospective clients, by speaking like this, as they will feel uncomfortable.

You’re right – I’m genuinely sorry.

Can I talk with you some more please – can I talk candidly? (I hate that line, by the way).

Can I ask these questions, because it has always intrigued me?

Why do you do, what you do as a seller?

For instance, in real estate the majority of sellers tend to only deal with those who regularly contact them; rather than for instance, those that will give them the best long term outcome.

Why does a seller naturally gravitate to an agent, who has rang him or her up twice a year for five years and spoke or listened for a minute or two, about one of the seller’s .

Why, because its human nature to do so and the best listing agents are experts at human nature.

But is that skill relevant? It may be? What do you think?

Do you really “owe” the agent who rings you – are you obligated to deal with him? Why?

See I am trying to do it now – because I don’t ring you, I’m trying to manipulate you to think that by giving you this information, by raising these doubts, that in fact I am trying to be your confidant, somebody you can trust and therefore you should be guided by me, instead of the selling agent – but do I really care?

Is caring about you more important than – if I was incompetent – or going on holidays during the four weeks of your auction campaign?

So many people choose their negotiators on …….. imagine if you ran a business like this.

Time for a change of tact:

Ok, you should use me as your negotiator as I’ve bought over 1000 homes, I developed and patented the James Home Ratings system and in the last month, our team has saved a collective $4.5 million off asking prices in our off market dealings.

The above is actually true, but how do you feel, is that credible?

How about this then?

Ok, you should use me as your negotiator as I’m a vegan, I meditate regularly and I’ve got minimal assets by .

Bit more radical? Is it relevant – what do you make of that!

If I told you that not being full of sugar, having a superior concentration span and not being as attached to financial outcomes was important – what would you think?

I’ve engaged you haven’t I? That’s part of my job as a negotiator and I’m a lot better at it than many think and you’re a lot better in deals with me than against me or without me – that we call a Wet Fish Slap argument – designed to arouse a response.

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In the past 3 minutes of reading you’ve been moved up and down your emotions scale and I’ve negotiated with you very powerfully – so much so, that you are actually thinking about how all this could help you – and for many, you’ve never met me.

So what are you like with a selling agent and $3,250,000 in your pocket (of your money) – when they say one certain thing in a negotiation to you. I’ll tell you – you are dangerous.

This is not what you expected in the first of a series on James Negotiation is it?

I suppose I could have asked how’s the weather, your football team or your kids – that’s standard fare for some selling agents, I’m not sure how that helps you in a negotiation – but I know how it hurts you if you think it’s important.

Over the next few weeks, if you choose, you will be shown a way (one way, not the only way) to navigate your path between your ears, in a manner that makes your negotiation a way to your desired outcome – rather than your negotiation being a way to the selling agent’s desired outcome or just any ‘ol outcome.

If you can benefit from what is on offer here, then you will be further along the road as a successful negotiator.

If you can’t, then the negotiation noise of the above 1143 words, is all you will hear.

It’s all many Melbourne homebuyers hear – negotiation noise.

Negotiation noise designed to manipulate you, to pull at your heartstrings, to get you to do what others want.

Hope you enjoyed the roller coaster, thank you for your time – and what feels like aggression above, may simply be truth, not revealed to you like this before.

 

Our James Negotiation Series

Part 1 – Negotiation Noise

Part 2 – What’s Really Important in a Negotiation – Next week 27th August

Part 3 – How to Well – September 10th

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For near on 10 years James Buyer Advocates has pioneered Architects working with Advocates for our clients PRIOR to purchase. Kathy Russell, Bachelor of Architecture (Hons) Melbourne - supports our James Buyer Advocate clients with professional, up to the minute architectural and design options on any property currently on the market or off market. This has been such a positive James Buyer Advocates initiative. Its personal, one on one, it’s free to all clients and tells you what you need to know architecturally BEFORE you buy. For a confidential meeting call 9804 3133.

For near on 10 years James Buyer Advocates has pioneered Architects working with Advocates for our clients PRIOR to purchase. Kathy Russell, Bachelor of Architecture (Hons) – supports our James Buyer Advocate clients with professional, up to the minute architectural and design options on any property currently on the market or off market. This has been such a positive James Buyer Advocates initiative. Its personal, one on one, it’s free to all clients and tells you what you need to know architecturally BEFORE you buy. For a confidential meeting call 9804 3133.

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