Advice Given (Winter Stories)
James Buy Sell posted every Saturday. Inbox every Monday
Welcome back after the winter break – there are still some stragglers in Europe (lucky ducks) – but it feels like the Top End action is switching back on. The market for us at James Buy Sell finished with a bang in May/June after a poor finish to 2022 and a sluggish start to 2023.
The Top End market has rebounded impressively, although it may not be as strong as it was immediately after the lockdown 18 months ago. However, compared to nine months ago, the market has consistently shown signs of improvement. Clearance rates, pricing, and Bidderman statistics all demonstrate this positive trend.
Returning to the Marketnews desk, we have two noteworthy stories to share this week. One is a reminder that selling isn’t always the only solution when it comes to divorce and children. We explore alternative options before making any decisions. The second story involves a note from us to a family, suggesting that selling might be an option, but we encourage them to explore other possibilities first.
In next week’s edition of Marketnews, more stories and we will focus on five building projects completed by our clients at James Buy Sell. These projects have been successful in terms of staying within budget and being completed on time. Interestingly, they involved three builders with budgets ranging from $400,000 to $250,000 and three projects under $100,000. These were not homes located in remote areas; in fact, they were situated in Elwood, Glen Iris, and Brighton.
While we receive an increasing number of inquiries about overcoming architectural, building, or renovation difficulties, it doesn’t always have to be a challenging experience. With the right advice from James Buy Sell professionals like (Kathy Architectural, Richard Building, Gina for off-market buying, and Sim for multi-agent selling), you may be able to transform your existing situation, adding value and happiness to your life at a fraction of the cost and time.
Stay tuned for our next edition, where we delve into the realm of smart renovations, regardless of whether you are downsizing or upsizing your family home.
Glen Iris - Out and About
CEO Simone Clarke out today with Zali Reynolds at a James Buy Sell Multi-agent off market in Glen Iris. Good numbers through this home so far on the back of a great result Simone managed (multi-agent, off market) at Bella Vista Glen Iris in late June.
Albert Park - Out and About
Inspecting an off-market for a buying client in Albert Park today. Does anybody find and actually buy more off-markets than Gina?
Hampton - Out and About
Mal out today with Julian Augustini at a James Buy Sell Multi-agent off market in Hampton.
Elsternwick - Out and About
Kathy our qualified architectural advisor overseeing an exciting project at auction soon.
Elwood - Out and About
Talking with qualified building advisor Richard who managed the renovation at our client’s home we bought in Elwood. Handed over this week on time, budget & <500K. Read how in next weeks James Marketnews – posted every Saturday, inbox every Monday.
Perhaps when to NOT sell, sell sell
Divorce
Three years ago we helped a client not sell and not buy. This is a reference we received this week – it is a 100% real and valuable story. It is unedited.
“Keep your home – and keep yourselves safe
Relationships end. Separation is sadly a reality more of us will face than we’d like to think.
When my relationship ended, we did what most people would do.
Bring in the real estate agents – the same two who had sold it to us several years prior. Plan an auction date, and start discussing the likely split that we would each take away.
But something felt off – I didn’t WANT to sell my home. And then I received counsel from none other than Mal James – the buying agent who helped us purchase. “Girl, you’re not going to sell that house. It’s the key to keeping you and your children safe – protecting you now and into your future”
It felt impossible, and the reality at that point in time would have suggested my chances were highly unlikely. But I put my head down. What would it take?
Mal helped with a plan and gave me the confidence I could see this through as tough as it may seem.
One piece of advice I remember clearly is “Anne you are stressed, but you’re going to have stress either way. You’ll still be stressed whatever decisions you make until you settle – there’s no real difference between 80 or 90% stress – so make good decisions – not quick or bad ones – don’t throw in the towel”.
I was nervous that this was going to be too difficult. But the reality was that my life was already stressful and difficult. Single parenthood with tiny children is HARD. I couldn’t change that, so was it worth making it a little bit harder?
This is what it took:
- Saying ‘No. You need two signatures to sell this place and I won’t give you mine’
- Listing it on Airbnb when the additional mortgage help from the ex fizzed out
- Figuring out what I needed to earn to maintain the mortgage – and finding the work to support that.
- Staying patient on our financial settlement. I had no chance of keeping the home if we had done this earlier (I needed to recover my earning capacity after time off with babies). This was excellent advice from Mal.
- Superior negotiation skills that included knowing EXACTLY what my deal needed to look like, and staying quiet, waiting and more waiting, when we weren’t there yet. Good coaching advice again.
- Ignoring all the advice by well-meaning friends and advisors telling me to ‘wrap up the financial settlement asap so you know where you stand’. Thanks, but I wouldn’t be walking through the same front door every day if I’d followed that advice. Mal’s advice was completely contrary to this.
- Incredibly supportive parents who backed me all the way.
It took a LOT of energy and effort. It was stressful and life felt close to the wire a lot of the time. I ruminated daily, hourly, on my decisions and goal. It just felt so HARD. Was I really doing the right thing for all of us?
Yes. Yes, I was.
Because now I wake up every day in the home that lifts me up and makes me feel safe. Where my children feel safe.
With a title and mortgage that are now in my name only.
Where the house value has increased, and the mortgage value has decreased.
Had we sold and split up the proceeds all those years ago, I most likely would have walked away with a few hundred thousand $s and off to find rental after rental. Now? I sit on a good asset (a house with good PPPs) with $1m+ in equity and I have choices, options – the epitome of luxury for me. A home that may continue to keep us safe for decades to come.
Was it worth it?
Yes, every minute. My hard work (and that wise counsel) kept us all safe.
Thanks Mal.”
Many options - maybe the right one is not obvious now
Many times we are called into buy and sell situations and sometimes now is not the best option or sometimes you need to explore multiple options before a good decision can be made. As boring as it may sound good decisions come from good processes and good processes can take patience, outside guidance and are often bespoke to your needs. This is a follow-up letter to an initial meeting two months ago and we are still exploring together.
Dear Cindy and Jonathan (not their real names),
Firstly, you are warm and loving people in difficult roles at work and at home.
Sim and I admire your resilience, outlook and care you show to all.
You are good people, and we can and would like/love to help you.
You have several emotional decisions to make that matter – your self care and your family care connections, will for a long time be at a heightened state – on the surface many will see that as hard and it is – but you may also experience something special, that few do – not that anyone by choice would take your current path.
General:
Understand as best you can what makes each of you tick, that drew you together and gives you a sense of purpose and meaning. For that is the sparkle your children and you both and your family needs most. Keep that sparkle. Sim and I feel you already know this.
With that sparkle in mind, what result best encourages a perennial blossom – you don’t know – we don’t know – and that is why to use your words “your wheels are spinning”.
Our tweek would be to move away from the result for a while and look for a path to get you there. But as we don’t know the result – we also don’t know which path.
Second tweek would be to run two and maybe three paths concurrently.
Third tweek would be to put you both into the clouds and stay above the paths. In your case, in our opinion, day to day minutiae on all things outside family and sense of purpose (is that work) will cloud your judgment, drain your soul and you only have so much to give.
Initial Specific:
- Let’s set up a multiple path gantt chart with timelines.
- Lets get a mortgage professional, a building advisor (to act on your questions and interests) to provide a second (not dominant over architect) voice and Sim and myself to search, clarify and find a move-in/minor modifications alternative and give you feedback on a value range of your home (via trusted agents) to help understand $ changeover.
- As these paths run, your goal remains clear even with an unknown result and you will make good decisions and keep your sparkle, because your boundaries on what’s really important remain intact.
When you are ready, we would love to help you with care and respect on all sides.
Well done whatever you decide, it has been nice to meet real people who still have the sparkle in difficult circumstances.
Thank you for your time.
Mal and Sim
Hampton family home - 5 Bedrooms
Multi-Agent - Off market
SOI: $2.9m - $3.1m
Jenny 0418 528 988
Julian 0418 558 408
Glen Iris family home
Multi-Agent - Off market
$3.5m - $3.7m
James 0417 003 333
Zali 0422 576 049
JAMES BUY SELL
our spring clients are looking to BUY your home off-market now
Some interesting new buying clients signed up over Winter break and we are looking to buy. Cynical this is just a ploy? Why would we do it? We are paid by the buyer, not you the seller. Why would we waste your time or our buyers?
Look at homes we bought in June off-market by advertising here in Marketnews (not in realestate.com.au or domain) – off markets at Toorak > $10m and Malvern > $4m.
Contacting Mal James on 0408 107 988 guarantees your privacy and no selling agents if you don’t want them – as well you get a market valuation from a real buyer’s perspective.
We have bought and sold 100’s of homes off-market, multi-agent (or none), Trustbox.
Here is proof – it’s not just talk – off-markets happen with James Buy Sell.
TOORAK big family home $12m + $18m
Two buyers – looking for homes completed – new builds – ready to move in. Both families have children at schools in the area. We bought St Georges Road last month for another client. We have buyers. Mal 0408 107 988 Sim 0400 304 111
ARMADALE family home $6m + $12m
2 Buyers – looking for ready to move in homes. Both currently living in Armadale and have homes to sell – swaps possible. Children at schools in the area. We’ve bought dozens of homes in Armadale – here is evidence map. Gina 0457 835 255 Mal 0408 107 988 Sim 0400 304 111
DOMAIN – the TAN – Downsizer to $3.5m
Who doesn’t love the Tan – we love buying for clients off-market here and having a coffee at the Bot. Gina 0457 835 255 Mal 0408 107 988. Looking for a downsizer – will do some work.
ALBERT PARK Investment $2.5m
HAWTHORN doctors rooms will reno $3m
GASCOIGNE family home $7m
Buyer – looking for ready to move in home – likes light. Currently living in a smaller home in Gascoigne (may do a swap) which we bought off market. But their children are growing and at schools in the area. We’ve bought more than a dozen homes in the Gascoigne – here is evidence map. Gina 0457 835 255 Mal 0408 107 988
GRACE PARK family home $6m + $10m
2 Buyers – looking for ready to move in homes. One single level, the other a classic, and will do some work. North sides preferred. Grace Park is one of our favourite buying estates – here is evidence map. Gina 0457 835 255 Mal 0408 107 988 Sim 0400 304 111
URQUHART/TARA Family Home $6m
Smart families who don’t want Grace Park or Scotch Hill love the Urquhart estate. And we love buying here is evidence map. Looking for a client up to $6m. Mal 0408 107 988 Sim 0400 304 111.
Call us and be pleasantly surprised at how easy and private it can be. Mal 0408 107 988
How James Buy Sell finished going into the holidays
Kew
Kew
Toorak
Glen Iris
Brighton
Malvern
Multi-Agent, Off-Market, On-Market
In any market, innovation finds its place, and amidst the critics, there is a space for multi-agent systems. Remarkably, every home we have sold, well over a hundred, involved the collaboration of multiple agents.
This week, we acquired a property through a multi-agent approach, even witnessing other esteemed agents like Rob Fletcher from Forbes and Marcus Chiminello from Marshall White embracing this system by sharing the listing. The utilization of multi-agents extends beyond our endeavors.
Moreover, the property we sold at auction on Saturday initially sat off-market with no interest. However, leveraging the rising market in Boroondara and a stroke of luck, we successfully transitioned it to an auction and teamed up with another agent.
Congratulations are due to James Tostevin, the agent who sealed the deal. Despite occasional disagreements and differing strategies, James’ resilience and work ethic are truly admirable. His example serves as a reminder that as we age, our vitality need not diminish. Well done, James.
These experiences exemplify the importance of adaptability and collaboration in achieving success. As we navigate the dynamic landscape, let us continue to embrace innovation and learn from the resilience and dedication of those around us.
JAMES Buy Sell TrustBox
In addition to our successful Off-market and Multi-Agent approaches, we have introduced a ground-breaking method of quoting known as Trustbox. Developed over the past year, Trustbox aims to instil greater trust and meaning into our quotes, benefitting both buyers and sellers.
When marketing homes, whether on or off-market, we ensure the following components are included within our Trustbox:
- Authority
- Contracts
- A transparent Statement of Information (SOI) or Real Price guide
Here’s how Trustbox works for buyers and sellers:
Once our selling clients establish a firm price, typically after the first week, our SOI transforms into a Trustbox.
- Offers below the price range are not accepted.
- Offers within the range are referred to both the sellers and other potential buyers.
- Offers above the range are treated as potential sales or sold directly to the buyer without referral.
In the off-market realm, many agents struggle to execute effective sales strategies. They often beg for offers, promise updates, and handle negotiations with less transparency, regardless of the offer’s quality. This lack of trust not only proves annoying but also fails to elicit the best possible offers, particularly in the current market conditions.
Trustbox, on the other hand, brings forth several advantages:
- It encourages exceptional offers from buyers.
- It provides certainty to the best-suited buyer.
- It builds trust between agents, buyers, and sellers, fostering a more transparent and fruitful relationship.
At James Buy Sell, we believe in empowering our clients through innovative approaches that prioritize trust and optimal outcomes. Trustbox represents a significant step forward in revolutionizing the real estate industry’s quoting practices.
Further evidence of success on Multi-agent, off-market, Trustbox method:
“If you’re thinking of selling don’t look past Gina and Mal for exceptional results. It’s their business to know how to stage a house and garden, know the best time of the year to sell in different areas, and they will know the key selling points of your house (and they can arrange for all of this to happen for you).
They know how to negotiate and more importantly, how to time negotiations.
They know the real estate agents and know who will be the right one for you. You’re in really safe hands and most importantly they’re honest – they will advise to not sell if the offer isn’t right.
They’re truly ‘on your side’ and advise you on how to get the best outcome for you. My advice: at the very least meet with them – you won’t be disappointed.”
Our Buy Sell Client on recent Aspendale home
Forthcoming Family Home over 1/2 acre in Kew
Coming in Spring
What real estate advice can look like
2021 Bought - $19m
2023 Sold - $23m
Normally we say nothing - privacy - but somebody else splashed it all over the papers. In 2021 we bought for our client. This week sold for a $4m gross profit in 2 years. Same home, same agent. In fact same clients we acted for on another $4m+ profit Toorak home previously. That's a +20% uplift as the Toorak median dropped 10%.
