Finding your next property
Finding properties on the Internet is simple. Understanding “Agent Speak” is not. Spending all your time looking at the wrong properties means you can miss out on the right ones. There are also plenty of properties that first appear on the net as “SOLD”. Have you ever wondered who buys these ones?
Before looking on the net or asking any agents we look at “SOLD DATA”
In the first 2 days of signing on with our team, we will do a search of your initial needs by looking backwards for around 3 months at what has SOLD that would suit your requirements.
Unfortunately in Melbourne almost all Real Estate Agents are extremely cagey about giving accurate information regarding what price they will sell the property for. So if we start looking at what is on the market we may find we are looking at properties that will eventually sell well above our budget.
We can alleviate this issue by looking back at what other people have actually paid for what we are looking for. We can also use this refining process to funnel down on different locations and make sure we are not looking in areas that we have no hope of purchasing in.
Once we understand what you need, we coordinate our searches via the major Internet portals as well as directly with the selling agents in the areas we are targeting.
When you are searching for a home, townhouse or apartment in a single area, you will face a list of 100+ properties.
Information overload! What you need is somebody to go through that list and then present you with the few places that meet YOUR NEEDS. That way, your efforts and time can be used to consider only the good properties. We talk to you about the properties you want to see, not the properties an agent wants to sell you.
We are relentless. Whether you are at work, away on holidays or just taking a break, we continue our search for the best properties for you. We keep track of this via our online worksheet (sample below) You can see what we are looking at and our comments. It allows you to easily comment on the property as well. But do not worry about looking at our worksheet every day. We will call or email you when we find suitable properties that need your input or inspection.
JPP Client Worksheet
Do all properties we buy appear on the Internet?
No. Many don’t, especially at the upper end of the scale. Why is that?
A typical off market transaction can occur as follows:
An overseas landlord gets a phone call from their property manager who explains that their tenant is moving out. The Property Manager asks if they should re-let the property for them. The Owner responds by saying if you can get $500,000 for the property then sell it, otherwise lease it out again. This sets off a chain of events back at the Real Estate office whereby the Property Manager runs out one door and the Sales Manager runs out another – First one to find a client wins the commission. The Sales Manager rings people like me – They cannot set up an auction campaign – by the time they did, the Property Manager would already have a new tenant. Other types of “off-market” transactions are:
- In some instances, the seller simply wants privacy from prying neighbours, friends, relatives and the public at large. The one common denominator is that they want a “quiet sale”.
- A vendor may choose an off-market approach to maximise the price and/or chances of a sale. In other words, the seller feels that a whisper campaign with an “isolated buyer” will result in a much better price than say, a public auction campaign.
- We may buy the property before the selling agent has had time to put together the description and photos, set the auction date, print brochures and publicly advertise it. Our excellent rapport with selling agents means we receive “heads up” notice of properties coming onto the market well before the general public will see them.
For more in-depth information, try one of our “how-to” articles on Searching. If you would like to know more about our assessment procedures, move on to ASSESS or if you are ready to have a chat please call us on (03) 9773 8404 or take five minutes to fill in the Your Needs form and we will contact you within 24 hours.