You're listening to the Weekend Collective podcast from News Talks by.
And a very good afternoon. If you have just joined us, well, welcome back, Welcome into the show. I'm Tim Beverage. This is the Weekend Collective. Were you missed the panel with the Irene Garden and Pete wolf Camp. You can check it out wherever you get your podcasts. Just go to or iHeartRadio news Talk, said dot Curtiz, look for the Weekend Collective. But right now it's time for the One Roof Radio Show. And my guest as well, she's well known to this to you if you've been a regular
listener on the One Roof Radio show. She's a financial advisor and her name is Debbie Robertson. She's with me now. Good day, Debbie. How are you going?
I'm doing good? How are you doing good?
Did you hear a bit of a panic getting hi? Didn't you have some traffic over the bridge and traffic jams?
And I didn't come from over the bridge. I came this side of the bridge. That there was an accident on the motorway. So my eta climb by the minute, and I was thinking I'm going to be late.
Actually it is fascinating the old Google Maps, isn't It says, so you're going to take seven minutes. I usually think, I'll bet you I can find a way that will get me there in six.
I was stuck, like, no exits, oh no, yeah, oh.
Well, it's good to have you here.
Now.
Now we're going to have a chat about well that there's been a report out from the core Logic which anticipates home values which will rise. The actual numbers will rise about five percent this year, rise through a number
of suburbs. But the headline for it is to do with the fact that, in real terms, basically house prices and I take it as being well, here's the head let's skip to the headline house prices price is to be twenty percent lower in the twenty thirties than twenty twenty one, which I take to mean it's not going to keep up with inflation. So in terms of what else has gone up, property is not going to match,
and so it's going to be down relatively. But on top of that conversation, regardless of what the market's doing, what matters to buyers and sellers is getting the price you want to pay or the price you want to sell for it, so I thought it might be. I don't think we've ever talked about the art of negotiation.
No, I don't think we have there.
And maybe it's more relevant now than it is. It more relevant now than it has been because there was a time in the market where the advice would be, well, you just need to pay your best price because it's a competitive market, a seller's market, and you need to just come up with the best figure you can in a way you go. Whereas how much room is there
in the real estate market for negotiation? Can some people do better deals than others because they're better negotiators, They don't show their hands straight away, And so we want your calls on this as well. By the way, what's the goal? Are there golden rules on negotiating on such a big deal? Because property, you know, it's not like negotiating for even a second hand cars might be a big expense, but a property, we're talking hundreds of thousands,
if not millions of dollars. So are you a good negotiator? If you've got something you'd like to pass on to us and our audience about the keys of negotiating, The key to good negotiation Debbie, what's your hot take on this?
I think negotiating is not just key in the current market, it's literally everything.
Wow. So it is because it's not just a matter of finding your best figure in a way you go, No.
It's a buyer's market. This is literally your opportunity to have the upper hand when you're negotiating on the purchase. So if you don't know how to negotiate, you could not only be leaving tens of thousands of dollars on the table, you could be leaving hundreds of thousands of dollars.
Okay, So what is the biggest mist what's the easiest first, biggest mistake that people can I know I've recategorized those, but there'll be an obvious one. What's what's the big no no that so many people would do?
Getting emotional?
Okay, So that means you mean giving all teary during the negotiation, like just wanting too much.
When someone falls in love with the house, all logic goes out the window. They're like, I've got to have it. And I'm guilty of this myself. You know, I quite often tell our clients about how, you know, when we negotiate for investment, properties, we negotiate like the thunder because it's all about the numbers. But when we found the house that we're in now out Forever Home, I walked in through the front door and I said.
Sold, and.
It's literally like Paul, my husband, he was horrified. He was like, maybe you should go and have a look at the rest of the house before you tell the real estate agent how excited you are. And I was like, no, this is it, this is the one. So yeah, Well, getting emotional about it takes your power away in the negotiation. So whenever you're negotiating, you need to be the person in the position of power. And in a buyer's market, the buyers have got the upper hand.
I guess the thing is that if you that's the thing. I mean, we're talking about the house you want you're going to live in. Probably the big even bigger than that is Okay, allow yourself to be emotional because it's probably inevitable, isn't it that don't tell the real estate
agent you love it. Yeah, because they I mean all good real estate agents they're like they're like your best mate, you know, and people on people, they have people, you know, they will make you feel welcome and answer your questions and smile on. But it's easy to forget that they're acting for the seller. And I'm not demonizing me that No, just don't tell them how much you love the property.
Look, I mean it helps helps with the negotiation, and I mean, you know, if you can take as much of the emotion out of that process, because at the moment when you're looking at how many listings there are on the property market, that you've got so much choice, you know, so the buyers really are in a position of power. They can pick and choose. You can let the realistic agents know that you're looking at more than one property and you're going to buy the one that suits your needs best.
Actually, is it also about reminding yourself that it's a bit like love, isn't it about relationships? You know, when a teenager has their first heartbreak, the one bit of advice they do not want to hear is like, don't worries more fish in the sea, because they're like, but that was the fish for me, and they never But you do have to remind yourself that, Okay, imagine if this house wasn't for sale, there will be another that you'll fall in love with.
Absolutely And if you're looking for an investment property, it's actually not about the proper itself. It's about the numbers.
So shop around would be the other one, wouldn't it, Because if you're going to even if you fall in love with a property, I would suggest that maybe it's important to force yourself to go and look at a bunch of others, because then that will give you some older perspective where you are not so just like you know, focused on the one love.
When you have had a look at a lot of different properties in the same area, it gives you a much stronger perspective of what actual market values are. So you'll start to see which properties have sold and how much they've sold for, and so that reduces the risk of you over paying when you're purchasing a property. But yeah, when you're buying an investment, it's all about the numbers. It's not just about paying less in market value.
So of course auctions a different thing. Of course, because you've got an auction, you've just got to stick your hand up until you don't stick your hand up.
Which even so, like this is the reason that auctions are so good for sellers is because people get emotional in an auction room, you know, So if you're go into an auction, you've got to know your top dollar before you put your hand up.
Can you actually, how often can you successfully preempt an action by trying to negotiate? I mean, you want the house, you don't want it to go to auction, but here
you are, you're a buyer. Is there a way where you can intervene and basically make an offer and put pressure on the seller to accept that without going to auction by I don't know saying look, I don't know how much interest you've got, but I have to make an offer now and we have to resolve it in the next couple of days because they've got another house I'm looking at.
There's Yeah, if the vendors are willing to accept pre auction offers, then great. You know, you absolutely have got the option to put in an offer before the auction day.
Actually, even if they're not prepared to accept a pre auction offer, you can still do it though, can't you.
Yeah, you can try well. Advise market and real estate agents will usually if if the vendor is not willing to accept pre auction offers, that realistic agents will probably tell you that there's you know, they're not going to consider anything less than cash unconditional is the offer.
Yeah, but they would still have to present, aren't they. It's still obligated to present your I'm just thinking in terms of the hard board hardball buyers that I've spoken to, it's like, doesn't matter, they're obligated to present your offer to the seller.
Well, it depends. My understanding is that if the vendor doesn't want to look at pre auction offers, if they want everything to go to the auction day, then they're the ones that have the final say on that.
So yeah, okay, what's so what would your list if you were looking to buy a property and you're not doing it just based on the numbers, like, well, we're prepared to pay this because this is how the number stack up as an investment. So it's your forever home or for the next however many years. What do you tell yourself before you negotiate it, or do you get to get someone else to do it for you.
Well, when we bought our home, pools sold. He was so disappointed. But he looked at the real estate agent, and the agent looked at him and said, so I guess I'm negotiating with this one with you, then Paul, and he said, yep, so.
He already you already given the game away because he knows that it doesn't matter. He could he could Her husband's name is Paul, like, so it didn't matter because the real estate agent would know that you want it, and so Paul could say what he wants is like, I saw your wife's reaction there, this reaction.
But at the end of the day, the offer is only as good as the offer. So you know, Paul was pretty hard nosed with the negotiation, and we ended up with a good price, a lot less than I would have been prepared to pay for. The vendor accepted it. So they were happy.
Oh right, how much? When we're talking about percentages, you don't need to mention dollar amounts, But when within a percentage of the purchase price that you would have been prepared to pay, how much did it save by the fact that you weren't involved.
Probably ten percent? Okay, Yeah, it might have even been more than that. Actually I can't remember, to be honest, it was it was a few years ago, but yeah, I would say it was a good ten percent below. Okay, what I would have been prepared to pay.
We love your stories as well about you know I've got. I'd probably have shared the story about buying our place, which was a negotiation and it wasn't in competition with anyone else. It was simply about finding a number because I bought it from our landlord. And I'm not sure if either of us was a great negotiator. I think he was probably quite generous to me, and I was lucky, I think, because we actually must will finish the story because and then we'll go to a break and then
take your calls. So I tracked down my landlord because we were deciding let's buy something, and I thought, well maybe maybe, and it was a vain hope, maybe he'll sell it to us. So I did a title search behind the letting agents back. She joked with me, but she said, you did me out of a commission, and
I said, damn right, I did. And I tracked him down and we agreed to meet for a coffee because I said, look, and I sat down and said, look where we are you interested in selling your house and we're not doing it because we want to invest in it. We're interested because we already live there. We know the place, we want to have a family, and we want to settle down. It's not about being clever and trying to buy something because we think it's a good deal. And
I went, I think I went to the loo. When I came back and he had torn the receipt for the coffee in half, and he said, why don't you write down a number on your bit of paper and I'll write down a number on mine, and we'll exchange
bits of paper. And so I wrote down a very optimistic price, and I mean it was I thought it was still a fair price, but I was aware that if he'd really wanted to play hardball, and he wrote down a number, and we basically when he handed his number over, it was what I would have paid for it at a stretch. And so I just said, how
about we split the difference. And a day later he got in touch and said, after seeing a Leonard Cohen come and having an epiphany, and he said, you know what you want to have your family there, give me another five grand and it's yours. And so it is slightly We met almost in the middle. But that's all I knew about negotiation was you write down a number and I'll write down one. But I actually thought that was I think both of us were happy.
So had he already listed with the real list? Oh so I see, okay, I was going to say, because if you'd seen as if you'd seen the realisted agent's advertisement, he still would have had to pay the Realisted agent the commission.
Oh no, no. I tracked him down and asked if he would be prepared to sell it to me. So it wasn't on the table until he went, oh, actually, funny, I've been thinking about that. So he probably in the back of his mind was thinking, well, I'm saving myself a few percent. Yeah, therefore that works for me and bingo. But the bit of.
Paper that was quite nice in old school.
But that seems to me to be not. I mean, that's just a very simple way of of doing a contract. I mean I do have one other story. It's not mine, but an old flatmate of mine in university days. He wanted to buy the flat we were in, and he asked the landlord, you know, if he would be interested to sell. He wrote down a number and the landlord, I'll sell it to you for that, And he said,
We'll tell you what. Let's just and he drew it on a bit of a four, saying I agree to sell you this property for this pace, and they signed it. And then later on the landlord tried to get out of it, and he's like, I've got a written contract and that was done as well. But you know, some good stories. I've got lots of stories, some of them are true.
I'm really looking forward to hearing some of the stories fro about it from the listeners, because I'm sure that people have got good stories about deals that they oh, they've got a good deal on, or lessons they learned from negotiations that didn't go well. Because you know, it works both ways. You'll always learn from the mistakes that you make.
And if you are a good negotiator, tell us what is the secret of a good negotiation from your point of view? And as you say Debbie's first rule, don't get emotional about the property. Added to that, if you are emotional, do not tell the real estate agent about how much you love it. Sold. Twenty two past four, eight hundred and eighty ten eighty is the number text nine two nine two. We'll be back in just a moment.
Twenty two past four. I think I gave the time, didn't I back in the mine and welcome back to the Weekend Collective. But this is the Wonery Radio Show. My guest is Debbie Roberts. We're talking about the art of negotiation. By the way, I've I've been picking Debbie's brain a bit more about when she brought her her place, and if we've got time, she's gonna have to fill You're gonna have to fill us more on that story because it's as quite actually amusing about how deals get done.
And there's more to the story that you heard from Debbie, but we want to hear yours as well. The art of a good negotiation. Diane, Hello, Hi, how are you going good? Thanks?
Yeah, Well, my story is a couple of years ago. My husband's health wasn't fantastic. We had to leave a three devil home. Otherwise it was like death or move, no brainer. And I've found an apartment really want to move into down Bremer's Corner. Logan apartments are great. And then we engage a really young red estate agent and it came down to trust and commitment. He just told
us on the level where the Michael was at. We got our house, you know, like a builder's report, and I committed to everything on the list that the builders, you know, the report said had to be fixed, which we did, which took all our background money. And he held his commitment too, and he got us within about one thousand dollars of my husband's high amount he wanted, you know, And we didn't go to auction because we had already had already committed to buy the apartment because
that was it that we're moving to. Totally focused. And the guy, his name's Adam from Harcourt. God, he was just incredible that no trustworthy, just so trustworthy, you know, and you need to feel that trust from your real estate agent.
Absolutely, it's you know, it's oh it is.
And also it was it was about our life going forward as the sixties, plus couple my husbands in the seventies. And he was shocked that I'd give up our family home and the garden that I tended and growing treason for the last twenty five years.
Oh yeah, him, lots of brain me. Yeah, there's lots of emotion in that sort of thing, in those decisions, isn't there How much did how much did you want the sellers to know? Because it's there's two sides to letting them to if you needed to sell to buy something else, that is, there's two sides to that. One. It's a hook for a buyer that they think they're going to be able to do a deal, but it's it's also giving something away, isn't it.
I mean, did you let cards do you?
Well?
Well, that's why I was wondering if the real estate is it's because sometimes a real estate ad will say sellers have bought already, and so there's pressure to do a deal because okay, it's giving away a position, but it's also enticing people to go all and it's not always.
A bad thing either. You know, if the vendor is genuinely motivated to sell because they've got a deadline looming, then I think sometimes the real estate agent is working in their best interests by letting people know, hey, this is a property that needs to get sold. Come play bored.
Yeah, Well the indication was we did a deadline sales.
Excellent, Yeah, you know, to make it.
And he kept us totally up up to speed with what was happening. And he had two maybe three very viable people and one family in particular wants the property and so we brought it forward or the date forward. And also the people we were buying off at Logan Apartments, they allowed us to do a lower deposit because they knew we were committed, so they actually helped us as well.
So it's just people having good old fashioned trust and belief and you know, you're you're good as your words and your signature.
So long as your trust as well placed. That's the main thing. Hey, thanks Diane good On here. Thanks thanks for that. If I was going to put on my cynical hat though, is that I mean, it's how much how much do you tell your real estate agent, because you don't if you're a seller. I mean they get their commission when they sell if they can convince you to accept a lower price. I mean it's not always.
Realisted agents have to work in the best interest of the vendor, the person that's selling the house. But yeah, you're right, it does come down to getting a sale across the line. But I think a good realistic agent is worth their weight in gold, so, you know, and a realistic agent that you've got that trust with and that you really do feel like they've got your best interests at heart, that's a relationship worth nurturing.
Excellent. Right, let's take some more calls Ross Hello, his.
You've got to watch some of these bloody land agents when it comes to auctions, because I've had an occasion where it said prior offers welcome or something like that, and I thought, yeah, I could do with this place. So I've called the agent. They've come and talked to me and said, I said about this prior office that it's good in loves my house then and he said no, he said, what we do is use your offer as the starting base of the auction.
If your if your auction, yeah, if your offer prior to an auction gets accepted, that is the standard rule is that you know, it does go to auction and your offer that the that the vendor accepted becomes the the minimum. Like that's the starting bid, but it's also the reserve.
So that means a lot of people, a lot of people don't know that. They don't get told that no exactly, And I think it's just honest to be honest, Well, it's.
It's quite an open system, so you know, it's it's an action in my opinion, and I'm not a realistic agent, but an auction is the best way to get market value, you know, because it's an open market, it's an open process, and if your offer is accepted prior to the auction, there might not be any other bid is. So that's why when you're making a pre auction off you've got to make sure you're happy with that it and take your chances.
On the day.
The place we did buy needed it, we better work down to it nice home and they had a figure on it. Off is over, so off. I offer them less than that and said I'll take care of all the bits of work when you done excellent and they said, yep, that'll do us. It was a deceased to state.
And so did you get it at the auction as well?
It was your No, no, no it wasn't. It wasn't an auction.
Oh I thought you thead of the action, No, that this wasn't.
Going to be auction, the one I didn't go with because of the agent's rules with you. I didn't go. I didn't bloody go there. I thought, no, I can't take it.
I mean that it's it's heightened stuff, isn't it. Because it's easy for us to city are chatting about property deals. But when you're in the hot seat of wanting to buy or sell your dream home or whatever, it's really high stakes. So it's so difficult to put to to rehearse that stuff in a way, isn't it, Debbie.
It is because emotions get in the way, you know. And I think it's important to remember that not everyone has to sell. Some people are motivated to sell for a bunch of different reasons, but they don't necessarily have to sell. And having said that, some people who've got their houses on the market, price isn't their main priority.
So for some people who've maybe owned their house for thirty years, you know, they might be mortgage free, for example, they might have other reasons for wanting to sell it, so they're not necessarily after getting the top dollar. They just want to get the deal done so they can move on.
Actually, the thing is, in my landlord's case, you sold to me, I think one of the things because it wasn't like he had an epiphany or anything. But he liked the idea that we went buying it as investors, he said, And he even said to me, he said, look, you know, you guys want to have children and raise your kids. Here look, give me this and we'll call it a deal. And I think I call it a win women in a way. He was happy and we
were happy. But I mean, I wonder if people are sometimes sellers motivated by thinking, oh, look, this is such a lovely family, the house that we've poured so much love into, you know, we've cultivated the gardens and things. Now it's going to be inhabited by this lovely family. We'd rather sell it to them than the person who's probably gonna, I don't know, just flick it on in six months. Is there ever that do you think there was always money, money, money, money, money.
I think no, I think I think money is not the most important factor for a lot of people that are selling.
You know.
So yeah, for some people, absolutely, but it's not for everyone. I mean, like, you know, I can think of so many different examples of where people have accepted a lower price because you know, the settlement didn't suit.
Them, or well there's the tender of it, the tenders everything.
Yeah, there's so much that you can negotiate on when it comes to property. It's more than just price and settlement date.
Yeah. Right, let's take another call where we're up to fill gooday.
Good, how are you good?
Things?
Yeah, I think that might have been the case. When I bought my house, the people that sold it to me kind of sold it to me because I was first home buyer and it wasn't so much about the money for them. They just kind of thought a bit of sympathy on me. Maybe, But I haven't got much advice on negotiations. When when I first saw the place, I got the field that, yeah, I like this, this is me And the land agent was brilliant, my land
agent that showed me the place. But I watch a lot of programs like location and Location and stuff like that, and I don't know, but seems to one of the things I would say is that because I only when I bought my house, I knew it was a good deal and I was getting it cheap in a good street and a good neighborhood because it's an older house
book in the fifties. So they gave me the price and I put in, just to be cheeky, about a two thousand dollars year no counter off, and they said no. And then I said, right, I'm going to lose this by mark around. So I gave him the asking price.
But on that location, location and programs like that, they seem to say things like always go and don't go in at your best price, which probably makes common sense, or you know what you can ultimately afford, but going a bit lower in a bit well maybe a bit cheeky, because you can always go up and you can't go down.
Indeed, you can't change your mind once you put your yeah.
And if you don't ask, if you don't ask, you don't get. You know, that's something that we say to our clients all the time, is what's nothing wrong with putting in a lower offer. Worst that's going to happen is that they'll say.
No, hey, just before we go to the break, we've got some more callers there. But I did want you to fill in the gaps a little bit about your nego shash. It's quite funny. You had to negotiate with your husband in a way about what about trusting him to do the deal, and you had to agree your number first before he went to the off.
No, I didn't agree on the number, So Paul and I both wrote down and figure that we were happy with what would be our top dollar that we'd be prepared to pay and my top dollar was considerably higher than yours. And he looked at me and than his. And he looked at me and he said, so you need to understand that if we can't, if you if I'm going to negotiate this, you need to trust me to do it. And I said, we of course I do.
And he said, well, if we can't get it for the price like below my top dollar, you need to be prepared to walk away. And I said fine, and we did. We did walk away from it because the vendor didn't accept this Chris to start with, but we ended up doing a deal about three months later. The same vendor.
Fine, I e. Not fine, but you better do this deal, buddy. So luckily for him it ended happily.
Yeah, well eventually, yeah, because the vendors weren't able to sell it to anyone else.
And so they turned you down.
They tuned us down.
Yeah, yeah, yeah yeah.
And then a few a few months later, the realistic agent called us up and said, they want to know you're still in the market.
What was your emotional journey at that point.
I'm so excited.
No, no, no, not that, not when you got it, but oh when we missed it failed so were you scuttered? Okay? And how was how were you with? You know, with your negotiating husband was the doctor?
Luckily for her, I loved her more than the house. No contestant.
It's a love story in the end, isn't it. Twenty Look, we want your stories on negotiating twenty two to five Newstalk said, b they didn't know jes. Let's welcome back to the Weekend Collective with this one Refradia show. My guest is Debbie Roberts probably apprentice she's with. You might have recognized her voice from some of the promotions she does on the station Property Apprentice, Dot Curtt and Zed. We're talking about the art of negotiation and your stories
as well. What's the secret to getting the deal done? And look, I guess, as they say, if it's a win win in the end, you're happy, they're happy. Hopefully you're both right. And let's take your calls in your negotiation stories as well. Helga, Hello, good thanks, just do my phone up.
Well, my situations a bit but different to other people's. I inherited an old house and land and pons be with pontsab Land is very valuable. That was in twenty and sixteen and it sold for a million, but the house was built in eighteen sixty five. That was an auction, but I wouldn't recommend auctions. We then built a brand new house in Walk Class A Golden Homes that's quite through the sun was the title again, some of the tile, everything was beautiful. And then my son got married, so
we decided to say all the house again. And what I found out about auctions, if no one turns up to the auction, you've paid the agency, which I didn't think was right. So we sold by negotiation and that house with Ruth over a billion, but we went too high and the land agent suggested a bit lower and we sold it. But I wouldn't recommend auctions because you might be paying them for a fee and no one turns up.
The market, doesn't it you pay the auctioneer's fee.
Yeah, which it's bad enough when you're paying out all the loyal fees and everything, you know, and not everyone has a million dollar house to sell. I'm only saying that because to help other people who don't have the money, just be careful and lying the agents. Am I allowed to mention agent stable not what in.
A positive way, because we don't want anyone. If you've got a shout out.
Yeah that's all right, Yeah, hard thoughts and walk and hard courts and Mounttower, but excellence. I'm going to give you some other advice. And people bet them betted for a good dumb agent.
Well you absolutely ask around if as well. Yeah, good good stuff. I'll go, Well, thanks for your call. Actually there was a there's a real estate agent and my neck of the words. I've mentioned her before actually, but she has a she put a book at the best marketing. She has a booklet she puts out which has the contact numbers of a range of trades people for any
job you could ever possibly want on your property. Nice and in fact, I even i'd lost it and I couldn't remember where it was, and somebody told me and I went around and said can I have a few, and she and I met her and she was like absolutely, and I think she'd ranged to drop them off. But I was thinking that was such a good marketing device because every time you go I need a plumber, try this one. You go to the same booklet and there's the real estate agent there.
Excellent.
Now we need to just before I mean time's flying. We've barely talked about the market in that core Logic study but study not sorry, the core Logic data analysis where it says that in real terms, house prices are going to be twenty percent lower in the thirties than in twenty twenty one. And these are all the headlines that don't help it to change from being a buyer's market.
We've had the CVS where nine percent drop on average, and headlines that property prices aren't going to be too flash in terms of where inflation's going, where property prices are going exactly? What's the context that we Is there any any context we're missing?
Well, my thoughts on this is that anytime someone's making predictions about what might happen is literally crystal ball gazing. No one knows, no one knows what's going to happen. What we can do is make predictions based on historic events, you know. So, I mean I would be and at the end of the day, no one is expecting house prices to drop by twenty percent. But I tell you what, the number of people that are commented on social media that just read the headline and didn't read the article,
it's astounding. So the more that people think house prices are going to drop by twenty percent.
Not in real numbers, No, not in real numbers, but that's what.
The headline looks like, and that's what people see. That's what grabs their attention. So I think the more that people are out there thinking that, and the more that people are thinking, gosh, our house has dropped in value because the cvs are a lot lower than they were last time, all of that puts uncertainty into the market, and that makes it more of a buyer's market, potentially
for a little bit longer. I was talking to you in the break, I think the current market conditions for anyone who's looking at purchasing, these are the best market conditions that we've seen for over a decade. Last time we were in a really true buyers market was just after the global financial crisis.
What year was that, in reminding you, two thousand and.
Seven, two thousand and eight, So it's been a long time. And when we look back through previous property cycles, we tend to get the peak of the boom about every ten years. You know, the last boom was a lot longer than that. So if we go back to averages, then it could be another ten years before we see market conditions like this again. And I reckon twelve months from now, two years from now, people will be going, oh god, I wish we'd bought in twenty twenty five.
And this is me who's not selling properties.
Yeah. No, No, you're in the business of helping people buy them, don't you.
Yeah, and it's a great time to be buying.
I about this text here with respect. Your advice is putting a lot of pressure on first time buyers. If they it, If they find a house they can afford and they like, and they hold it for ten years, it won't matter if they could have paid less for it. I don't quite agree with that.
No, I don't agree with that either. And the reason I don't agree with that is because capital growth is not important to first time buyers, but getting the lowest mortgage possible is really important. And if you can make your money when you buy, you've created your own capital growth, and even better, if you can buy a property that's got value add potential, you're doing even better when there's no capital growth.
So yeah, that's not actually right. Yeah, because and of course, if you've got another fifty grand on your mortgage, and it takes you longer to pay that mortgage. If you've got more interesting, you've got more interest, you're paying on that other amount that you could have saved. So actually, yes,
it does matter. I would say, maybe she's talking about if you buy house and then you fleck it on and buy another sort of thing, And I don't know whether there's a different context where it might not be so tragic. Is there I'm not sure. Well, in other words, if you buy a house and you live in and that set, whereas if you buy a house and you eventually trade up a few years later in another one, is there a context where maybe what you paid first time round, isn't it so relevant?
I think you know, property is a long term strategy unless you're looking at flipping properties, which is a totally different ballgame. Like that's a business. You're in the business of buying and selling houses stuff. You're flipping properties, so you've got to take gest and tax on profit into account for that. Is well, But generally speaking, homeowners move on average about once every seven years. Property investors sell their rental properties on average about once every ten years.
Right, you've got some tip. You had some tips because We've spent so much time bountering about great, But are there some other I mean, you said don't get emotional, and if you are emotional, don't tell the real estate your agent your emotional if you're buying. What's another one?
Absolutely? I think be patient, look for value, add potential, don't be scared of making a lower offer, because negotiations the key.
I think that that's a big one, because if you are a people pleaser and you've got a real estate agent, it's like, oh, you know, I don't think if you don't try and please the real estate agent, just come up with a number and saying here's my number, and just grit your teeth and look, practice the art of the dead pandemic.
Yes, and look, the more you know about what's happening in that area, the stronger you're negotiation stance will be. You know, the more you know about what properties have been selling for, that's that puts you in a stronger position. So yeah, just I think buy for equity and or cash flow. If you're looking for an investment property at the moment, you're not buying for capital growth because there's so all okay, right.
We'll take a moment it's ten minutes to five news talk, said b.
The one roof property of the week on the Weekend Collective.
Yes, the one roof property of the week is it's a beauty actually, but not in the way you might think. It's almost like your traditional beach batch. But I'll give you the address where you can find it on the one roof for website one roof dot curtain in set is one Rosa Lee R s A L I E. Bay Road, Great Barrier Island and the Hurricane Golf. Five bedrooms, two bathrooms, one one car garage four off street and it was it's it's one point three million dollars, which
is actually quite quite a whack. But it's a classic family home breming with charm and comfort, featuring a generous living areas ideal for family gatherings, room to relaxing and detain fantastic views. Although when I look at it, it's apparently built quite recently, but it certainly has a certain rustic charm to it, like it's an old like it's an old sort of beach batch. In fact, what do you make of it?
Do you?
The photos I'm seeing of it looked quite Yeah.
It's quite cute. That's the sort of place that you could potentially rent out by short term rental as well, if you have it as a holiday home and rent it out for short term when you weren't using it.
Absolutely amazing views, isn't it. So you go and check that out. It's I think some of the information I've got on this might not be quite right because it says talks about how when it was recently built. In fact, we might have might have a slightly wrong description for that one there, But go and check out the photos. Of course it is quite a spectacular location and a real sort of traditional looking beach batch. But yeah, five bedrooms, two bathrooms, Yeah, there we go. So yours for one
point three roughly? Would you say sold? You walk in and you go sold?
Or maybe if you had an extra we've got a holiday home we love, so yeah, we're good.
What sort of style of what sort of style of architecture appeals to you that you know? For instance, we've heard your story about walking and going sold?
What was it?
Was it? Because it was modern all sort of.
Well, it had some value add potential. The biggest value add potential was the big backyard. Because I looked at that and I saw an outdoor kitchen in a swimming pool, I thought done. Yeah, I like, I like modern contemporary.
So yeah, I made a mistake with the description that I should correct there by the way that there was a main dwelling which is a classic family home and that's that says Bremming with charming. Come. But there's also a second dwelling which is the designer beach pad crafted for modern laid back living. So that's why it's a bit more expensive than I thought for the initial property
that I was looking at. But anyway, so people want to catch up with the work you're doing, they can go to Property Apprentice dot co dot nz and you've got regular not workshops, but yeah.
We do free online events every week, so yeah, people can register for one of those on our website and come ask me as many questions as you want to excellent two hours to talk about stuff.
And yeah, and learn a few lessons about negotiation and do not say sold when you walk on the door. I think, just what we've learned today. Hey, Debbi, great to catch up with you.
Thanks for having so much.
We'll be back with the parents quite us next. Nathan Wallace talking about dealing with teenagers anxiety and outbursts. When do you let them write it out? Or when do you take yourself off for a bit of quiet time? Will be taking your cause? Oh wait? One hundred eighty ten eighty in text on nine two nine tools.
Surely all I really need is a little
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