The solution is the technology at our fingertips, combined with a sprinkle of professional service expertise from an Independent Buyers Agent. (AKA Andrew Date) That’s me by the way! Chest beating aside, as much as I played a role in securing an OFF MARKET Warehouse for our Californian based clients. It was the technology that allowed the transaction to take place. How do you ask? Well, let me explain.
STEP 1 – Sim & Josh were tired of scrolling realestate.com.au & domain.com.au – They thought there must be a better way. So like many humans in 2020, they turned to GOOGLE in the hope of a solution to making their home buying process smoother. They came across Industry Insider Property Advocates & it all played out in a matter of 14 days.
STEP 2 – We arranged a ZOOM meeting for 10th July in which we presented our value proposition, our buying process and our fees. This meeting typically takes between 30-45 minutes.
STEP 3 – My team sent Sim & Josh our agreement via Docu Sign, they were able to review, sign and initial all from the comfort of their home in California. Once they paid our engagement fee and signed our digital agreement, our team steps into action.
STEP 4 – Head out into the big city of Melbourne to find their Dream Home. Not so big in comparison to LA or New York, but Melbourne is the second-largest city in Australia.
STEP 5 – As buyer agents, we also look for options on the major platforms like domain.com.au & rea.com.au. However, as buyer agents, we open up an entirely new world of possibilities for our buyers. Through 10 years of being in real estate, I’ve been able to build a reliable network of trusted relationships with sales agents. It’s through this time and relationships that we search for properties that are coming to market (Known as PRE MARKET) we also look for properties that are not listed online (Known as OFF MARKET) 60% of our acquisitions in the last three months have been OFF MARKET!
STEP 6 – Our clients requested we inspect a brand new townhouse they found online. We also found two OFF MARKET opportunities. After examining all three properties, we provided photos via our I phone 11 Pro together with five one minute video walkthroughs via WHATS APP. Once a client shows interest, we then compile a Pros & Cons List of the property. This list outlines everything our clients need to know and is when we set a value on the property.
STEP 7 – Coordinate the due diligence. We have been fortunate in building a great team of professionals around us. Mandi Morrison from AB Conveyancing is our counsel. It all starts with our legal counsel reviewing the contract of sale and section 32. In lamens terms, think of this document as the DNA & History of the property. Mandi’s checks here ensure there are no nasty clauses or special conditions in the contract.
From the legal counsel, we then arrange a building inspection. Drew Woods is our building inspector; he is also one of the best in the business. He called my clients after his examination, provided a detailed over the phone review, together with a 40-page report containing photos and results of his time at the property.
STEP 8 – Negotiate; this is the one place where a Buyers Agents value starts to shine. The first part of the negotiations is to understand the competition. The second part is to understand the offer process. The third part is to seal the deal for the best possible price. Our clients signed contracts on 23rd July via Docu Sign. That’s only 13 days from when we first meet over ZOOM. We were notified later that evening by the sales agent that we were successful.
BONUS – Our clients will not return to Australia for approx 3-4 years. Our Property Management team has already found a potential couple who work at KPMG & CBA that have registered interest in leasing the property.
As a buyer agent, my role is to help you understand the actual market value of a property, to ensure you do not overpay, facilitate the due diligence, weigh up market sentiment, consider the competition and navigate the risks associated with the acquisition.
The sales agent’s role is to maximise the best price possible for the seller! Top-performing real estate agents in Australia are often earning more money than Doctors, Lawyers and other highly regarded occupations that require years of education. Their boutique office franchises pay professional trainers large amounts of money to refine and hone their skills. Like all industries, the best sales agents are very, very good. But remember they work for the seller, not you the buyer!
At Industry Insider we specialise in buying established family homes in the inner ring of Melbourne, Bayside, and the beautiful Mornington Peninsula. If you need any assistance with buying, don’t hesitate to speak with one of our Property Buyer Agents on +61 8374 7652 or book a Zoom call here