3-Ways-To-Beat-Other-Buyers-To-Hot-New

3 Ways To Beat Other Buyers To
Hot New Listings
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Since 1988 we have strived to provide the very
best real estate service in Sydney to the many
property buyers, sellers, investors and tenants who
call on us for help and advice each week.
This booklet and the advice it contains is part of
that promise. We hope you enjoy the content and
profit from the experience.
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3 Ways To Beat Other Buyers To Hot
New Listings
Buying a home can be very exiting.
Most young couples attack the purchase
of their first home with a great deal of
enthusiasm. Every night they await the
“new listing alerts” to arrive in their email
inbox from realestate.com.au or from
domain.com.au. And every week they
collect the local paper and the various
property magazines and pore over every
real estate advertisement looking for
their perfect home.
On weekends they can be seen in real
estate offices and at open homes all
over Australia. Most genuinely enjoy
going from home to home assessing the
relative merits of each property as they
narrow down their search.
Eventually they find a property that
lights their fire - all their hopes and
dreams are about to come true. They
feel confident that "this is the one".
And then disaster strikes!
Another
buyer beats them to the purchase.
All their excitement washes down the
drain. They invariably feel devastated.
Now they will have to start the whole
process again.
Has this ever happened to you? If you
are
yet
to
experience
the
disappointment of missing out on your
"perfect home" you should count your
lucky stars for it happens every week in
suburbs and towns just like yours.
On the other hand, if you're in the
marketplace to buy a property you'll
want to know all the best tips to ensure
you are not disappointed.
The last thing you should do is to rely
on property advertisements. Property
advertisements are often prepared and
placed by a real estate agent 10 days or
more before the advertisement is
published. Worse still is the fact that
every other buyer in the marketplace is
waiting for these advertisements to be
published.
This is doubly so when considering
internet advertisements.
So, if you want to beat other buyers to
properties, you need to have a different
strategy - one that doesn't involve
waiting for the property of your dreams
to be advertised.
This SPECIAL REPORT details just 3
simple ideas that will help you beat
other buyers to the best listings in town.
They are not difficult, they are not
complex and, in fact, anyone can follow
these 3 simple tips. Read on and see if
you agree.
01
Beat the agent at his own game!
Have you ever wondered how agents
get listings ?
in this neighbourhood - are you thinking
of selling your home ?
It's easy - they tell property owners they
are looking for people who are
interested in selling their home. They
tell property owners they have a number
of buyers on their books looking to
purchase a home. Eventually property
owners hear or see this message and
then trot along to the nearest agent to
list their home for sale.
This is how the process works for real
estate agents and the same process
can work for you.
What stops you from doing the same
thing ?
Most people would say "But I'm not a
real estate agent". That's true. But you
may well be a buyer - and many
property owners will be happy to sell
directly to you if only you let them know.
But how ? Well, this is how many real
estate agents do it - you can do the
same.
First, isolate the neighbourhood where
you would like to buy. Next, map out
the streets in this neighbourhood. And
finally . . . start walking.
Knock on every door of every home you
think might be suitable for you and your
family. When the owner comes to the
door simply say, "Hi, my name is (your
name) and I'm hoping to buy a property
Sure, there's a bit of hard work but one
thing is certain, you won't be in
competition with other buyers. In fact,
they'll never know of the properties you
find.
Most agents will tell you that
doorknocking for listings can be timeconsuming. In most cases, you'll find
less than one property owner in 100
willing to sell.
Still, for all that hard work, the rewards
can be enormous. No competition from
other buyers, no interference from
agents and a sale that can move along
at its own pace.
NOTE:
If you come across a property with an
agents FOR SALE sign in the front yard
save time and trouble by calling the agent
rather than knocking on the front door. In
most cases the owner of such a property is
locked into a contract with the agent and
cannot sell their property without the
involvement of their agent.
02
Get the agents
to tell you first
At their core, real estate agents are
simply salespeople.
And what do salespeople like to do
more than anything else ? They like to
make a sale !
As a keen property buyer you are only
one half of the required ingredients that
make up a sale - the other half is a
willing property seller.
So here's what you do. Make yourself
known to the largest agents in the town
where you'd like to buy. Provide each
one with a detailed description of the
property you'd like to buy and ask each
one to call you if they locate a property
that might be suitable.
Sounds too simple, doesn't it ?
And it probably is. In reality you'll
probably have to call each of these
agents on a regular basis, reminding
them of your requirements.
Ask each agent to call you first, before
any other buyer, when they list a
suitable property. Tell them you will be
prepared to make an instant decision on
any property you view - so long as they
call you before anyone else.
By assuring each agent that you are
prepared to act immediately you are
providing a benefit for both you and the
agent - you'll get called first and the
agent can be certain you will make an
instant decision (hopefully to buy the
home he or she has found for you).
At Prudential Real Estate we are
conscious of the changing needs of the
community we serve and, because of
numerous requests, we have started a
PROPERTY ALERT e-mail service for
any buyer wishing to purchase in the
our area.
Here's how it works. You call and
speak with one of our sales staff, tell
them precisely what you would like to
buy and when we list a property that
closely matches your description, we'll
email you immediately – before we list it
on an internet site for everyone else to
see.
In this way, you'll be able to have the
very first inspection of the property and hopefully the first opportunity to
buy.
To take advantage of our PROPERTY
ALERT e-mail service simply call our
office 7-days a week on 4628 0033.
03
Be prepared when you come
face-to-face with your perfect home
Lord Baden-Powell, the founder of the
worldwide scouting movement for boys
adopted a very simple formula for his
organisation - "Be Prepared"
When you are on the hunt for a
property, you would be wise to adopt
the same strategy.
The first step is to get pre-approved for
a mortgage. This is a simple process
that only takes a few days to arrange
and ensures you can act immediately
and confidently when the right home
presents itself.
How do you get pre-approved ? Most
banks and lending institutions will
arrange mortgage pre-approval.
If, on the other hand, you want to
choose from more than 30 banks in the
comfort of your own lounge room you
can contact a mortgage broker.
Mortgage brokers act as sub-agents for
all the banks and their service is FREE
to property buyers (they receive a small
fee from the bank you select for your
home loan)
If you would like to speak with a
mortgage broker please call Craig
Corbett of Choice Home Loans on 0418
204 120 - he'll be happy to answer any
questions you might have about
arranging mortgage pre-approval.
The second step is to understand the
process of buying a home.
Once you have found the home you
would like to buy it is important to
secure the property so that no one else
can come along and "gazump" you.
The only way to confidently secure a
property in NSW is by exchanging
contracts with the property owner.
Although this may sound a little
daunting, current legislation protects
buyers from substantial loss.
There are two ways to exchange
contracts. The first is to allow the agent
to arrange the exchange of contracts
and the second is to allow the
respective solicitors (yours and the
owner's) to arrange the exchange of
contracts.
The major difference between the two is
that exchanging contracts through the
agent is quick (often the whole thing
can be complete in 60 minutes). Better
still, legislation in NSW provides every
buyer with a 5-day cooling off period
when they exchange through an agent.
This cooling off period provides an
opportunity for a buyer to withdraw
from the purchase without having to
lose their 10% deposit *.
An exchange of contracts arranged by
solicitors invariably takes longer - often
up to 10 - 14 days - and generally, there
is no cooling off period. Such a delay
often provides an opportunity for
another buyer to make an offer on the
property you are hoping to buy.
So, you too can beat other buyers to
hot new listings by simply being better
prepared than the rest. Be certain to
arrange mortgage pre-approval and be
prepared to exchange contracts
immediately to secure the property in
your name.
* NOTE - A buyer withdrawing from a property purchase during a 5-day cooling off period stands to lose 0.25% of the
agreed purchase price of the property to the owner as compensation to them for having their property off the market in
the exclusive name of the purchaser for a period of time up to 5 days. For example 0.25% of $300,000 is $750.00.
CAMPBELLTOWN
Serving the local community since 1988
47 Queen Street, Campbelltown
Phone 4628 0033
INGLEBURN
Serving the local community since 2000
31-33 Oxford Road, Ingleburn
Phone 9605 5000
LIVERPOOL
Serving the local community since 1994
3/52-58 Memorial Avenue, Liverpool
Phone 9822 5999
MACQUARIE FIELDS
Serving the local community since 1994
Cnr Saywell & Fields Roads, Macquarie Fields
Phone 9605 5333
prudential.com.au
PLEASE NOTE :
1. Recipients of this report are reminded that, although due care has been taken in the preparation
of the within contained material, prospective property buyers, sellers and investors
are always best served by making their own independent inquiries before entering into any real
estate transaction.
2. This report has been prepared for the sole and exclusive use of Prudential Real Estate clients and
customers. The whole of the contents and design are protected by copyright.
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