Melbourne’s property market awakens from long winter slumber…

Selling agents right across Melbourne are expecting a massive short-term boost to the local property market with home inspections booked solid from Monday 28th September onwards after the ban on inspections was eased on Sunday 27th September 2020.

Many selling agents were taking phone calls from the Sunday afternoon when Premier Daniel Andrews started easing restrictions to allow one-on-one property inspections, which had been banned for the past 8 weeks under stage four lock-down restrictions.

Within minutes of the announcement, some selling agents even reported they were receiving calls from buyers and vendors – some stuck in limbo, looking to move on. and begin their buying and selling journeys again.

Finally, in our opinion it is far too early to be making any bold predictions at this point in time, in terms of which direction the Melbourne property market will take. Just remember the Melbourne property market has just re-opened. But, give it a few weeks and we should have some sort of indication of the ‘state of play’ as Melbourne will be deep into Spring.

Why Use a Buyer's Agent in Melbourne?

Your Australian Property Buyers Agents lives and breathes property and knows the Melbourne Property Market! We at Your Australian Property Buyers Agents offer comprehensive end-to-end support from identifying and analysing your selected properties to dealing with selling agents, attending property inspections, purchase negotiations and / or auction bidding on your behalf. 

Our Independent Buyer’s Agents in Melbourne, will take the time to understand your situation and work out what your individual needs, specific requirements and property goals are, so we can begin searching for your next property. 

To get in touch with us today, please complete our Enquiry Form so we can discuss your objectives and outline our process in clear and simple terms.

What our Clients are Saying about Your Australian Property Buyers Agents

Your Australian Property Buyers Agents is a five-star rated independent boutique Buyer’s Agency in Melbourne. Our success comes from prioritising our clients' unique needs first and consistently delivering exceptional results.​ We promise to be responsive and to truly listen to what our clients need. We're surrounded by noise in the property market – Our goal is to cut through it.

From the CBD to Melbourne’s outer suburbs, Your Australian Property Buyers Agents helps Melbourne home buyers and property investors secure the right property with independent advice, proven strategy and expert negotiation.

We don’t sell property. We don’t answer to developers. We work for you and only you.

With over 30 years of real estate industry expertise, we know what it takes to buy property seamlessly. Patience is key, but never at the compromise of confidence and our clients’ end game. We’re professional in every facet of our work, dealing with our clients with the utmost integrity and honesty.

When clients engage Your Australian Property Buyers Agents, they can expect Buyer’s Agents that are proactive and passionate. Combining a hard work ethic with passion and attention to detail, we help clients achieve their property goals with ease.

Next Step

If you’re Serious about Purchasing the Right Property at the Right Price, then Working with an Expert Buyer’s Agents is the Smartest Purchasing Strategy There Is!

Simply fill out the Enquiry Form below to get Started.

Well, I thought I would try something a little different this time with new post.

I am sure you have been bombarded over the years with articles about how to bid at Auction.

Today, I ‘m recommending a few simple tips you can implement and then show you how it plays out at a LIVE Auction!

This could go one of two ways!

In this video I am bidding for one of our overseas clients on an amazing property in one of Melbourne’s blue chip suburbs. The suburb where this property was situated in was “Caulfield South”.

The property was a brand new 4 bedroom double-storey townhouse and there was a decent crowd looking on.

So, we had to bring our A game, which brings me to my first tip!

HOW TO SUCCESSFULLY  BID AT AUCTION

Tip 1 — Bring you’re “A” game

Look like you are there for business – dress for success. 

Most purchasers at the Auction are casually dressed but it’s important to take it up a level.

I had previously met the Selling Agent as part of my Buyer’s Agent service. When I first met the Auctioneer on the day he instantly said, “Hi you must be the Buyer’s Agent”. I responded confidently with “yes I am, I’m here today to buy this property for my client.”

I always make a point of meeting the other agency staff and importantly I always take the time to introduce myself to the Auctioneer and have a quick chat. I do this in front of the auction crowd.

Body Language and image play a big part at any Auction and even the slightest edge will put you in a strong position.

It’s like a good bluff in poker!

Tip 2 — A quick, strong opening bid

I don’t understand why Auctions take a while to get going sometimes; after all they all want to buy right? As a popular property in a great location, it was never going to sell for a bargain!

I didn’t make an opening bid at this point at the auction as I really wanted to see how many and who were my direct competitors at this auction. The selling agent had previously been quoting an estimated selling range of between $1.8M to $2M to prospective buyers. I knew this property was worth considerably higher than this figure. 

So the bidding started at $1,800,000 which was where I expected the bidding would start. As a lot of inexperienced bargain hunters who don’t really quite understand how the quoting selling works always seem to be the one’s who bid in the selling range where the selling agents are trying to ‘woo’ the buyers. Anyway, at this stage I’m remaining quite calm and just monitoring the bidding at the auction. 

There were 2 other people bidding for this property, including the person right next to me who was the highest bidder at $1,975,000. I then decided that now was the perfect time to enter the auction bidding as the bidding increments went from $50,000 to $25,000 which is often a good sign that the other buyers are approaching their limit. So I confidently called out a bid of $2 million dollars so just about everyone in the auction crowd heard it. And did they hear it. They most certainly did hear it!

However, a competing buyer has different ideas and decides to place a counter offer of $2.25M. It was at this point I needed to send a clear message to these bargain hunters and emotional buyers that I’m here today to purchase this property and nothing was going to stand in my way!

I went up by $75,000 on a bid at $2.1M. I did this to show everyone at this auction that I was here not as a spectator, but I was here to do business today and ‘WIN’!

There were no further bids at this point so the Auctioneer declared he will refer this bid to his seller referred to his sellers. The common ‘Australian slang’ term is known as the ‘auction half-time break’. 

For those few brief minutes whilst waiting for the Auctioneer, I felt extremely self-assured that the auction bidding strategy was working well. In fact, it had worked so well that I had managed to knock out 90% of the competition and it was down to just a couple of other bidders and myself.

Tip 3 — Avoid a bidding war

Shortly after, the property was then on the market on my bid and that’s where it started to really heat up!

Avoid bidding in increments of $1,000 if you can, even towards the end.

As you see in this video, our bidding increments were much higher than the other bidders we were directly competing against. Additionally, some of our bids were at different increments. Typically, at other auctions we intentionally vary the bidding increments to keep the other buyers guessing on what we will do next – it’s a bit like playing a game of ‘poker’.

So, I went up in considerably higher bids and more importantly, showed no signs of weakness or indifference.

Bids must be instantaneous and strong. There should be no sign of slowing down. And never give any negotiation opponent an inch and always keep them guessing about what your next step is… 

Of course, our client did not have an endless budget, but that is the impression you want to give, whether you are $20,000 from maxing out or just $2,000.

In the end the $10,000 increment was the final straw to our opponents to outbid with their $1,000 increments and we got the result that we were after.

SUMMARY

There are some little things you can do that make a big difference when you are bidding at Auction.

• Dress to impress and for success – stand out!
• Look like a professional: talk to the selling agents and Auctioneer, it will send a strong a message that you are not just another number in the crowd. 
• Once the Auction is underway a strong opening bid can set other bidders back and knock out the competition. But you do need to be careful deploying this particular strategy as really depends on your due diligence and how confident you are researching and analysing the sales data. 
• You are now in control and have other potential buyers on the back foot.
• This will also take some of the bargain hunters and emotional buyers out of play.
• Avoid a bidding war by increasing your increments at a higher rate.
• $5,000 or $10,000 bids are harder; take more thought and hesitation than $1,000 increments.

So let’s see how it played out

Our client was an overseas buyer and by using our services he ended up saving over $300,000 on his chosen property.

Head over to our website to learn more about how we can help you whether it’s our Buyer’s Agent Service, Auction Bidding Service, Commercial Property Service or Vendor Advocacy Service.

Or Email:   Zac Newbold zac.newbold@youraustralianproperty.com.au

Why Use a Buyer's Agent in Melbourne?

Your Australian Property Buyers Agents lives and breathes property and knows the Melbourne Property Market! We at Your Australian Property Buyers Agents offer comprehensive end-to-end support from identifying and analysing your selected properties to dealing with selling agents, attending property inspections, purchase negotiations and / or auction bidding on your behalf. 

Our Independent Buyer’s Agents in Melbourne, will take the time to understand your situation and work out what your individual needs, specific requirements and property goals are, so we can begin searching for your next property. 

To get in touch with us today, please complete our Enquiry Form so we can discuss your objectives and outline our process in clear and simple terms.

What our Clients are Saying about Your Australian Property Buyers Agents

Your Australian Property Buyers Agents is a five-star rated independent boutique Buyer’s Agency in Melbourne. Our success comes from prioritising our clients' unique needs first and consistently delivering exceptional results.​ We promise to be responsive and to truly listen to what our clients need. We're surrounded by noise in the property market – Our goal is to cut through it.

From the CBD to Melbourne’s outer suburbs, Your Australian Property Buyers Agents helps Melbourne home buyers and property investors secure the right property with independent advice, proven strategy and expert negotiation.

We don’t sell property. We don’t answer to developers. We work for you and only you.

With over 30 years of real estate industry expertise, we know what it takes to buy property seamlessly. Patience is key, but never at the compromise of confidence and our clients’ end game. We’re professional in every facet of our work, dealing with our clients with the utmost integrity and honesty.

When clients engage Your Australian Property Buyers Agents, they can expect Buyer’s Agents that are proactive and passionate. Combining a hard work ethic with passion and attention to detail, we help clients achieve their property goals with ease.

Next Step

If you’re Serious about Purchasing the Right Property at the Right Price, then Working with an Expert Buyer’s Agents is the Smartest Purchasing Strategy There Is!

Simply fill out the Enquiry Form below to get Started.

On Sunday 27th September Melbournians received terrific news with some COVID-19 restrictions easing which included private inspections for real estate now a permitted activity.  This is fantastic news for vendors, buyers, landlords and tenants. 

However, there are strict safety requirements that must be adhered to with private inspections limited to one agent and one prospective purchaser or tenant who may be accompanied by one other person from an existing household or their partner.

The agent must confirm with the occupier of the property prior to the inspection to ensure they are not symptomatic, self-isolating or under quarantine prior to attending the property. The person who is occupying house must leave the property for the inspection for one of the four reasons under the stay at home directions during the inspection.

There are also changes coming up in lending soon, as the Federal Government last week announced they will be reviewing lending regulations with the aim to simplify the lending process. These changes will definitely have a positive impact to increasing buyer demand especially in the low interest rates environment we are currently experiencing. 

Hope everyone has a great week and stay safe!

Zac Newbold – Managing Director

For further information and updates about Victorian Government Coronavirus Restrictions, please go to:

https://www.vic.gov.au/

Take care fellow Victorians. Stay safe, stay healthy!

Why Use a Buyer's Agent in Melbourne?

Your Australian Property Buyers Agents lives and breathes property and knows the Melbourne Property Market! We at Your Australian Property Buyers Agents offer comprehensive end-to-end support from identifying and analysing your selected properties to dealing with selling agents, attending property inspections, purchase negotiations and / or auction bidding on your behalf. 

Our Independent Buyer’s Agents in Melbourne, will take the time to understand your situation and work out what your individual needs, specific requirements and property goals are, so we can begin searching for your next property. 

To get in touch with us today, please complete our Enquiry Form so we can discuss your objectives and outline our process in clear and simple terms.

What our Clients are Saying about Your Australian Property Buyers Agents

Your Australian Property Buyers Agents is a five-star rated independent boutique Buyer’s Agency in Melbourne. Our success comes from prioritising our clients' unique needs first and consistently delivering exceptional results.​ We promise to be responsive and to truly listen to what our clients need. We're surrounded by noise in the property market – Our goal is to cut through it.

From the CBD to Melbourne’s outer suburbs, Your Australian Property Buyers Agents helps Melbourne home buyers and property investors secure the right property with independent advice, proven strategy and expert negotiation.

We don’t sell property. We don’t answer to developers. We work for you and only you.

With over 30 years of real estate industry expertise, we know what it takes to buy property seamlessly. Patience is key, but never at the compromise of confidence and our clients’ end game. We’re professional in every facet of our work, dealing with our clients with the utmost integrity and honesty.

When clients engage Your Australian Property Buyers Agents, they can expect Buyer’s Agents that are proactive and passionate. Combining a hard work ethic with passion and attention to detail, we help clients achieve their property goals with ease.

Next Step

If you’re Serious about Purchasing the Right Property at the Right Price, then Working with an Expert Buyer’s Agents is the Smartest Purchasing Strategy There Is!

Simply fill out the Enquiry Form below to get Started.

Unfortunately, there are no private property inspections allowed in metropolitan Melbourne until the 26th of October 2020. This is devastating news for both buyers and sellers. 

Currently, Melbourne is still in stage 4 lock-down for no easing expected until late September. However, the news is better in regional Victoria as they are in stage 2 restrictions. 

There will no doubt be an economic fallout for the slow road to recovery, and it is very frustrating for everyone living in Victoria. Let’s hope everyone does the right thing and we can achieve our targets so everyone can start living a normal life again. 

Hope you enjoy your weekend and keep well!

For further information and updates about Victorian Government Coronavirus Restrictions, please go to:

https://www.vic.gov.au/

Take care fellow Victorians. Stay safe, stay healthy!

Why Use a Buyer's Agent in Melbourne?

Your Australian Property Buyers Agents lives and breathes property and knows the Melbourne Property Market! We at Your Australian Property Buyers Agents offer comprehensive end-to-end support from identifying and analysing your selected properties to dealing with selling agents, attending property inspections, purchase negotiations and / or auction bidding on your behalf. 

Our Independent Buyer’s Agents in Melbourne, will take the time to understand your situation and work out what your individual needs, specific requirements and property goals are, so we can begin searching for your next property. 

To get in touch with us today, please complete our Enquiry Form so we can discuss your objectives and outline our process in clear and simple terms.

What our Clients are Saying about Your Australian Property Buyers Agents

Your Australian Property Buyers Agents is a five-star rated independent boutique Buyer’s Agency in Melbourne. Our success comes from prioritising our clients' unique needs first and consistently delivering exceptional results.​ We promise to be responsive and to truly listen to what our clients need. We're surrounded by noise in the property market – Our goal is to cut through it.

From the CBD to Melbourne’s outer suburbs, Your Australian Property Buyers Agents helps Melbourne home buyers and property investors secure the right property with independent advice, proven strategy and expert negotiation.

We don’t sell property. We don’t answer to developers. We work for you and only you.

With over 30 years of real estate industry expertise, we know what it takes to buy property seamlessly. Patience is key, but never at the compromise of confidence and our clients’ end game. We’re professional in every facet of our work, dealing with our clients with the utmost integrity and honesty.

When clients engage Your Australian Property Buyers Agents, they can expect Buyer’s Agents that are proactive and passionate. Combining a hard work ethic with passion and attention to detail, we help clients achieve their property goals with ease.

Next Step

If you’re Serious about Purchasing the Right Property at the Right Price, then Working with an Expert Buyer’s Agents is the Smartest Purchasing Strategy There Is!

Simply fill out the Enquiry Form below to get Started.

The Melbourne property market has come to a grinding halt as selling agents are unable to take buyers through any of their properties they are trying to sell. Additionally, in recent weeks a large number of online auctions have also been cancelled due to the Stage 4 lock-down restrictions currently imposed in Melbourne. Unfortunately, as a result of these lock-down measures the entire Melbourne real estate industry is effectively closed until the Victorian Government starts easing these Stage 4 restrictions.

Presently we are at the halfway mark with some good news indicating the amount of daily Covid-19 infections has dramatically declined over the past week. This implies that Melburnians are potentially on track for easing of restrictions in a few weeks’ time.

Over this quiet time, many of the selling agents in Melbourne are working to try and list as many properties for sale as they can for the upcoming ‘spring selling season’ which is less than a week away. Feedback from many selling agents is that whilst they are successfully listing properties for sale there still is a massive shortage of properties currently available on the market. Selling agents of course are urging potential sellers list their property on the market today and take full advantage of this opportunity.

In part, selling agents actually do have a plausible argument in suggesting it is a good time to sell, based mainly on supply and demand factors – when there is usually low supply that can cause prices to increase as demand outstrips supply. However, during these unprecedented economic times it remains to be seen given Australia’s unemployment rate is rising – unfortunately every day more and more people are losing their jobs. Typically, when Australia has experienced high levels of unemployment in past recessions house prices have fallen not risen and often take many months to sell. Therefore, we believe it is much more prudent to take a more cautious ‘wait and see approach’ in terms of commenting about what the future holds for property. The bottom-line is that anyone contemplating purchasing a property either today or in the near future should always play the ‘long game’ with intent of long-term capital growth, regardless whether it is bought for investment purposes or as a home purchase.

Finally, Your Australian Property is still experiencing a reasonable amount of enquiries from buyers who are looking to purchase, and considerably higher than the amount we expected. These include buyers who still have not yet purchased (who were looking to buy PRE-lock-down) and new buyers looking to enter the property market. Interestingly, just prior to lock-down, our previous 5 transactions since the start of July have been for 3 investors and 2 home buyers. 

Stay covid-19 safe and our fingers are crossed that these Stage 4 lock-down restrictions will be eased very soon 😊

Why Use a Buyer's Agent in Melbourne?

Your Australian Property Buyers Agents lives and breathes property and knows the Melbourne Property Market! We at Your Australian Property Buyers Agents offer comprehensive end-to-end support from identifying and analysing your selected properties to dealing with selling agents, attending property inspections, purchase negotiations and / or auction bidding on your behalf. 

Our Independent Buyer’s Agents in Melbourne, will take the time to understand your situation and work out what your individual needs, specific requirements and property goals are, so we can begin searching for your next property. 

To get in touch with us today, please complete our Enquiry Form so we can discuss your objectives and outline our process in clear and simple terms.

What our Clients are Saying about Your Australian Property Buyers Agents

Your Australian Property Buyers Agents is a five-star rated independent boutique Buyer’s Agency in Melbourne. Our success comes from prioritising our clients' unique needs first and consistently delivering exceptional results.​ We promise to be responsive and to truly listen to what our clients need. We're surrounded by noise in the property market – Our goal is to cut through it.

From the CBD to Melbourne’s outer suburbs, Your Australian Property Buyers Agents helps Melbourne home buyers and property investors secure the right property with independent advice, proven strategy and expert negotiation.

We don’t sell property. We don’t answer to developers. We work for you and only you.

With over 30 years of real estate industry expertise, we know what it takes to buy property seamlessly. Patience is key, but never at the compromise of confidence and our clients’ end game. We’re professional in every facet of our work, dealing with our clients with the utmost integrity and honesty.

When clients engage Your Australian Property Buyers Agents, they can expect Buyer’s Agents that are proactive and passionate. Combining a hard work ethic with passion and attention to detail, we help clients achieve their property goals with ease.

Next Step

If you’re Serious about Purchasing the Right Property at the Right Price, then Working with an Expert Buyer’s Agents is the Smartest Purchasing Strategy There Is!

Simply fill out the Enquiry Form below to get Started.