Buying a property is no small thing, no matter when or where you’re buying. It’s often the biggest purchase you’ll make, a solid investment in your future, so the pressure to get the right property at the right price is intense.
Adelaide’s aspiring home buyers would have felt a further tightening of the clamp upon hearing the latest news that Adelaide’s property values have now surpassed Melbourne’s, for the first time on record (well, we do live in the most beautiful city in the world after all… we’re hot peeps, everyone wants a piece of us.)
According to Kerryn Brownson, Director of 28th Street Agency, now is a great time to commence your property search. In fact, the lead into the festive season is a prime time to jump into the market since sellers and their agents are often keen to wrap up the sale before the Christmas and New Year holidays. The lure of a stress-free holiday or the desire to avoid the hassle of enduring the season’s slower administrative lead times can often result in a willingness to negotiate instead of waiting for a slightly better bid.
Another tip to increase your chance of success amid such intense market demand is to secure the services of a buyer’s agent, such as Kerryn, who is the Lead Buyer’s Agent for 28th Street Agency.
If you’re saving to purchase your desired property but haven’t reached your ‘dream house’ goal yet, Kerryn urges you to resist the temptation to hold off, saying “…now is the time to act. The average person takes at least nine months to purchase a property. The market won’t wait until you’re ready. The prices keep going up every month and what you could have afforded nine months ago can be soon out of reach. Using a buyer’s agent can shrink this time considerably, securing you a property sooner and thus maximising the current value of your funds.”
What is a buyer’s agent, and how can they help you secure that dream property?
Buyer’s agents, also known as buyer’s advocates, are licensed real estate agents who represent the buyer’s interests and ensure their clients secure the best deal. They not only remove a lot of the stress from searching for a property, but they also fast-track the process and have a greater chance of placing a winning bid on your behalf.
Once appointed to represent you, 28th Street Agency undertakes comprehensive research on your behalf, recommending areas and specific properties, including insights regarding a property’s potential for short or long-term gains. They’ll attend inspections, oversee due diligences, and take charge of all negotiations with selling agents and the administrative tasks required to purchase the property once you’ve signed the sales contract.
The 28th Street team has established strong relationships with trusted, licensed finance professionals they can connect you with upon discussing your current financial situation and property portfolio. If you already have equity in a property, they’ll recommend a broker or bank for you to consult with further. Similarly, if there’s an opportunity for you to purchase a property within a Self Managed Superannuation Fund (SMSF), they’ll recommend a financial advisor who can provide more detailed insights and guidance.
On average, Kerryn’s team can secure a property within a month or two, “…with one recent client who had been trying to buy a home for four years and had been outbid numerous times, securing a property within five days of appointing 28th Street. He couldn’t believe it, saying he wished he’d known about us four years ago”.
Exclusive access to off-market properties
With thousands of eager property buyers all scanning the same property websites, it’s little wonder there’s so much competition and frustration trying to secure your ideal property.
Using their extensive networks throughout the industry, 28th Street has access to properties that haven’t even hit the market yet, improving your potential of a successful negotiation due to the savings the seller makes on advertising and the limited competition.
Kerryn shared that 28th Street “…has developed some strong connections with many local real estate agencies, so we’ll often secure properties that haven’t been publicly listed yet. These off-market properties are only available via industry connections, and through this avenue, we’ve secured quite a few hidden gems. In fact, our agency’s last three purchases were all off-market.”
Rentvesting
As investment experts, 28th Street can also provide valuable support for aspiring owner-occupiers who lack the funds required to buy in their dream area but can afford to purchase a property in a more affordable location using a “rentvesting” strategy.
Rentvesting acts as it sounds – you’re renting and investing at the same time. This strategy allows you to live in the area you want to while buying an investment property elsewhere. With your available resources in mind, the 28th Street team identifies ‘warm’ spots in the national property market (areas that are forecast to become ‘hot’ soon), focusing on properties that have the potential to grow in value within a time frame that aligns with your home ownership goals.
While you get to familiarise yourself with the area you want to live in, your savings will grow at a rate that tracks the market while beating the banks’ interest rates.
Property negotiation expertise
Once you’ve figured out your strategy and have identified the property you want to invest in, you then need to negotiate a winning price. Eurgh. The skill and experience required to negotiate a winning price often trips up many potential buyers once they close in on the finish line.
As Kerryn explains, “Real estate agents are master negotiators who undertake regular negotiation training sessions. From the moment you engage in discussing a property with the seller’s agent, they’re negotiating with their client’s interests in mind, not yours. It’s a niche skill that most of the population haven’t received any training in, let alone the advanced training required for success in the property market.”
“Heading into a negotiation with a seller’s real estate agent is tantamount to heading into court without representation. You might still get the result you want, but your chances are improved significantly when you’re guided and represented by a skilled and experienced professional.”
Kerryn’s nerves of steel and enthusiasm for negotiating property deals have resulted in many great deals for her clients. In fact, she shared, “The negotiation stage is my favourite part of buying property. Using my insider knowledge to secure the best possible price is something I’m really passionate about.”
Appreciating that not everyone has the resources to purchase property, Kerryn is passionate about using her skills and networks to support others, particularly women, to realise their property ownership potential.
Giving back to the community
As the founder and manager of the philanthropic EMPOWERHER Property Ownership Initiative, Kerryn seeks to support women, particularly single mothers, in embarking upon their property ownership journey. This scholarship program (valued at $12,000) includes a comprehensive property consultation and assessment, tailored guidance and advice, training and representation in property negotiation as well as ongoing mentorship and support.
Kerryn also contributes a portion of 28th Street’s proceeds to support Catherine House’s efforts to provide accommodation and supportive services to women who are experiencing homelessness.
To learn more about the support and services 28th Street Agency you can book a 15 minute virtual coffee chat with Kerryn to explore ways you can work together to achieve your real estate needs. Alternatively, check out 28th Streets contact details below.
All you need to know about 28th Street Agency
Who: 28th Street Agency
What: Buyer’s advocacy | Investment analysis | Relocation services | Sales negotiations | Auction bidding
Website: www.28thstreetagency.com.au/
Email: [email protected]
Phone: 0488 221 181
Socials: Instagram | Facebook | LinkedIn
Book a virtual coffee chat with Kerryn
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