Real Estate Negotiation
We work for you to obtain the best price and best conditions
You locate. We negotiate.
Have you found your dream home or the perfect investment property, yet are feeling overwhelmed by the negotiation process? Are you unsure of a fair price or the nuances of contract terms and conditions in Brisbane? Do you feel apprehensive about dealing with sales agents?
Then look no further. At Your Property Hound, our expert negotiation service offers tailored guidance for buyers who’ve identified a property and seek the upper hand of professional representation to finalise the deal. We’re here to make your dream a reality.
The Role of Buyer’s and Seller’s Agents in Negotiation
In Brisbane’s real estate market, buyer’s agents are often overlooked, with approximately 95% of property purchases happening without their assistance. This leaves buyers susceptible to being outmaneuvered by sales agents, potentially leading to overpayment and inadequate representation of their interests.
Sales agents are primarily focused on serving the seller’s interests, marketing the property, attracting buyers, and negotiating in favor of the seller. Buyer’s agents, on the other hand, work exclusively for the buyer, bringing market knowledge and negotiation skills to secure the best possible deal.
However, it’s crucial to note that not all buyer’s agents are created equal. Opting for experienced and reputable agents can make a tangible difference, ensuring that your interests are not just represented, but fiercely protected.
That’s why here at Your Property Hound, we provide only the most comprehensive negotiation assistance.
Get in touch with us today to discover how we can help you secure your dream property.
How it works
The Expert Negotiation Process
Our service offers all the perks of our Complete Search-to-Settlement package but is limited to the evaluation of a single property. It’s tailored for those who’ve set their sights on a specific place and want expert representation throughout the negotiation process.
The following is a general rundown of what our service process looks like:
Physical Property Inspection
A physical property inspection is a cornerstone of a successful negotiation when buying real estate in Brisbane. It allows us to thoroughly assess the property’s condition and quality. By scrutinizing every aspect, from the foundation to the roofing, potential structural defects and maintenance requirements can be identified. This information is invaluable for accurately evaluating the property’s worth and ensuring that the negotiation process is based on a solid understanding of its true market value.
Furthermore, a physical inspection extends beyond the property’s boundaries to include a study of the surrounding properties and the neighborhood. This broader context provides crucial insights into the property’s desirability and potential future developments that may impact its value. Understanding the local area’s dynamics is instrumental in making informed decisions during negotiations, helping buyers make competitive offers or negotiate more effectively.
Pre-Negotiation Research and Preparation
To excel in our house price negotiation service, we prioritise thorough research and meticulous preparation. Like any real estate market, Brisbane has unique characteristics and areas of concern that need to be investigated. These include evaluating flood risk, potential disruptions from busy roads, rail, or air traffic noise, as well as considerations like school catchments, social housing, development applications, easements, and underground services. These elements all play a crucial role in shaping property prices and our negotiation strategies.
Importantly, this wealth of knowledge not only equips us with a competitive advantage during the negotiation process, but also ensures that our clients are fully informed about any potential issues PRIOR to purchase, helping to safeguard their future investment.
Independent Property Appraisal
An independent property appraisal by a buyer’s agent is absolutely crucial for a successful negotiation. Knowing the accurate value of a property serves as the foundation upon which our negotiations are built.
In Brisbane, properties are frequently advertised without a list price, and guides provided by sales agents cannot be relied upon. We also find that automated valuation reports from banks, brokers, or online portals are notoriously inaccurate. Having a professional buyer’s agent with an in-depth knowledge of market prices and conditions is therefore essential.
By comparing the independent appraisal with the seller’s expectations, a solid negotiation strategy can be established. This ensures that you don’t overpay for a property and, equally important, it equips you with the knowledge of when to walk away from a deal.
Strategy Formulation and Execution
Creating an effective negotiation strategy requires significant expertise and skill. With our initial negotiation strategies in place, we collectively assess our opening move, considering current market conditions and insights from the property appraisal to ensure our offer aligns with the property’s value and stands out to sellers.
To delve deeper into the negotiation process, we employ advanced tactics. Recognizing and countering real estate agents’ sales strategies is an art, and navigating counter-offers is a skill in itself. As we navigate these waters, emphasizing patience and flexibility is crucial, as patience often leads to favorable outcomes during negotiations.
However, a successful negotiation isn’t solely about the price; non-price terms also hold significant importance. Factors like settlement dates, contract conditions, inclusions, and potential contingencies demand our full attention. Maintaining a professional and respectful relationship with the sales agent and seller is invaluable, as trust plays a pivotal role in ensuring successful negotiations, with many deals collapsing due to a breakdown in trust between parties.
Contractual Aspects and Legalities
Contracts are more than just paper and ink; they’re the binding essence of any property sale. For those unfamiliar, getting acquainted with the standard contract terms, especially those specific to Brisbane, is crucial. These terms, ranging from simple definitions to complex clauses, guide our entire transaction journey.
Legal matters can be intricate, making the involvement of professionals like conveyancers and solicitors invaluable. Their expertise can be the difference between an offer accepted seamlessly and unforeseen legal hiccups. With them by our side, we can discuss and set special conditions, ensuring your interests are well protected.
Finalising the Agreement and Moving Towards Settlement
While many buyers assume that the negotiation process concludes once a contract is signed, it’s crucial to recognise that negotiation skills remain indispensable throughout the contract process. This is particularly evident when dealing with building and pest inspections, which can be daunting to interpret (especially for those without construction expertise). As buyer’s agents, our practice is to personally attend these inspections to gain a deeper understanding of potential issues by engaging in direct conversations with the inspector, rather than relying solely on written reports. When substantial issues surface, further negotiations may become necessary, potentially involving price adjustments, additional work, or even knowing when it’s prudent to terminate a contract if needed.
Negotiation skills continue to be relevant should unforeseen circumstances arise during the contract process. These situations could include the need for extensions on finance or settlement, negotiating vacant possession, arranging access for obtaining work quotes, advertising for tenants, or addressing issues identified during a pre-settlement inspection. It is often these requests that rely on maintaining goodwill with the sales agent and knowing what are reasonable requests, and how to best communicate them. In navigating these complex scenarios, a buyer’s agent’s expertise can prove invaluable.
Experienced property negotiators
We’re no strangers to the tactics selling agents employ to inflate purchase prices. When faced with claims such as ‘another offer just came in’ or ‘the property might be off the market soon’, we know exactly how to steer the conversation to ensure it turns out in your favour.
With Your Property Hound, you can rest easy knowing that the purchase of your new property is being overseen by an experienced and attentive team that’s seasoned in handling various negotiation tactics. We’re confident that by teaming up with us, you’ll see substantial savings in comparison to going it alone.
While we do have a ‘success fee’, it’s modest when weighed against the potential savings you can achieve on your purchase price. Our market insight and thorough research will assure you that every dollar spent securing your new home is worth it.
We’re with you through every step of the way.
Our expert negotiators can help you secure your property
Discover the ideal property at an unbeatable price. Entrust your property search to us – Your Property Hounds.
Frequently Asked Questions
A physical inspection allows us to thoroughly assess the property’s overall condition, from its foundation to its roofing. This scrutiny, combined with an evaluation of the surrounding neighbourhood, is instrumental in understanding the property’s true market value and ensuring our negotiation targets the best possible price.
In our comprehensive research, we delve into various facets of the property’s past. This includes any renovations, extensions or additions, neighborhood disputes, flood risk, as well as any development applications that may affect the property down the track.
Unique selling points, such as river or city views, proximity to top-tier schools, character or heritage features can dramatically impact the property’s value. Recognising these factors allows us to better gauge the property’s worth and negotiate effectively.
Having a deep understanding of Brisbane’s local market conditions determines how we negotiate. Our approach is different depending on whether it’s a buyer’s or seller’s market, how long the property has been for sale, how much interest there has been from other buyers and whether the property is publicly listed or off-market.
Having finance pre-approved not only solidifies your position in negotiations but also speeds up the process once an offer is accepted. It makes you more appealing to sellers keen on a quick sale.
An unbiased appraisal performed by an experienced buyer’s agent offers an accurate estimate of the property’s current market value. This valuation, when compared to the seller’s asking price, informs our negotiation strategy and ensures we’re making informed decisions.
Advanced tactics include recognising and countering sales strategies employed by real estate agents and mastering the nuances of counter-offers. Emphasising patience and flexibility is also essential, as they often lead to favourable outcomes.
Legal professionals, such as conveyancers and solicitors, offer invaluable expertise. Their guidance can prevent unforeseen legal challenges, help set special conditions, and clarify complex contract terms, ensuring your interests remain protected.
Our expert negotiators can help you buy property
Find a better property at an even better price. Leave your property buying journey with our buyer’s agents – we’re Your Property Hounds.
