I’d have fully paid off my own mortgage these last few years if I had a dollar for every time a client has told me they’d missed out on ‘that’ property.
The market (in most areas) remains relatively tight with demand outstripping supply.
Still, there remains plenty of options for the open-minded and savvy shopper.
Try opening up the search area, focussing on the ‘non-compromises’ instead of being unreasonably fussy.
Actually, there is a whole bag of tricks at your disposal, right down to making that much of an effort you upskill, upqualify and upgrade your income to afford more. Too much like hard work? Then suck it up and take what you can afford.
The prize goes to the person prepared to put in the greatest amount of effort to succeed. This is the beautiful, completely fair and equitable nature of a market-driven, economically-liberal system like ours, notwithstanding the leadership steering the ship at present.
Above all, what you need to know about success in business (buying a home = doing business) is it’s all about relationships.
We dealt with a couple not that long ago who had buttered up the estate agent to such a degree they were offered the property of their choosing prior to it hitting the market, at a price that was acceptable to all.
She told me that she’d spent a good deal of time “building tremendous rapport” with the agent, she was certain they’d get first dibs.
This happens all the time.
Most people foolishly and immaturely engage in a negotiation from an us vs. them perspective. Carrying on the paradigm that they are in a competition with the other side or worse, the agent representing the vendor.
This is at best unenjoyable, creates unnecessary tension and at worst wholly self-defeating.
If you were an agent would you look after someone who is being a standoffish jerk, or worse?
Here’s a tip from a guy who cut his teeth in London’s busiest agency where we were doing a million quid in fees each week as an office and has sold enough property to know how it should be done.
Make friends with the agents. All of them. Suck up, make them think you like them. It doesn’t even matter if you don’t – they won’t ever know. Be nice. Be gentle, courteous, civil and polite.
No need to be obsequious, just be different to the children who are letting their egos run the show.
And whatever you do, don’t be emotional.
Problem: not many people have much experience in these things and will, as a result, either wait months or longer to succeed, if they ever do. Ultimately overpaying as a result, and if they don’t do that, they will get into the negotiations and let their emotions run things.
Either way, you overpay. Either way, you lose.
If you’ve got ANY self-doubt in this area, then you need a solid plan B.
A trustworthy, straight-shooting Buyers Agent or Representative is what you need. These important, time and money-saving people can take out much of the stress of buying a house.
They do ALL of the hard work leaving you to get on with your life and focus on the other, more important things.
I’ve consistently found they will save more than their fee in both real, saved hard costs due to a lower, unemotionally negotiated price and not least, dramatically less opportunity cost.
Clearly, if you’re not inclined to pay for a professional service and want to DIY, well be honest with yourself if you’re 6-months in and have nothing to show for it. Time is more valuable than money. If you want DFY or DWY (Done For or Done With) and want to get it done and get on with your life, then for goodness sake, get a professional to help you.
Most people aren’t wheeler-dealers, so be okay with that.
Contact me today for a quick qualifying call to see if my hand-picked buyers’ agent will suit you and vice-versa. He does all the things you may be struggling to do: spend every single hour of the week (to the wrath of his wife) looking at homes and dirt and doing deals in a collaborative, unemotional way.
P.s. he’s busy and takes limited mandates so if you want in, book a call today.
Cheers,
Brodie Brown
BH Brown Mortgage Brokers