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HOME BUYERS Get the extra edge with our Top Tips prepared by leading property professionals

inside• 13CommonMistakesHomeBuyers

Make–andhowtoavoidthem

• Howmuchisthatpropertyworth?HowdoIknowwhatpricetooffer?

• WhatshouldIwatchoutforifI’mbuyinganapartment?

• Thehomebuyer’ssecretweapon-Havinganagentonyourside

protectionpack

ConsumerReport

Brought to y

ou by:

Metropole Property

Strategists

Buying your next home, especially if it’s

your first home can be a daunting task.

It’s exciting but full of complexities

Whileit’slikelytobethelargestfinancial

transactionyouwillevermake,we’vefound

thatmanyhomebuyersarepoorlyprepared

toensuretheymakeagoodpurchase

decision.

Andit’snottheirfault.Thesystemisstacked

againstthem,withmuchofthepowerbeing

onthesideoftheseller.

InthisHomeBuyer’sProtectionGuide,we’d

liketohelpleveltheplayingfieldforyou.

Firstlyhereare13CommonMistakesmade

byHomeBuyers–onesthatyoushould

avoid.

1| Notdoingproperresearchand

preparation

Understandyourfamily‘sfinancesandneeds.

Thewisehomebuyerwillanalyseassets,

decipherdebtsandgetpre-approvedfor

financebeforeplungingintothehousehunt.

Gettoknowtheneighborhood-you‘renot

justbuyingahouse;you‘realsobuyinga

location.It’simportanttofindoutaboutthe

qualityofschools,thecrimelevel,transport

andpossiblyupcomingzoningissues.Notall

partsofeachsuburbareidealspotstolive.

2| Choosingthewrongmortgage

Toputyouinthebestnegotiating

position,it’scriticaltohaveyourloanpre-

approved(notjustpre-qualified)beforegoing

househunting.

13 Common Mistakes Home Buyers Make & how to avoid them

1 HomeBuyersProtectionPack

Findouthowmuchyoucanafford–butyou

can’tsimplygotoabank‘sInternetsite,use

thecalculatorstoseehowmuchyoucan

borrowandassumeyou’llgetaloan.There‘s

abigdifferencebetweenwhatthebanks

indicatetheycanlendyouandwhatthey

actuallywill.

It’simportanttopickyourfinancepackage

carefully.Don’tjustgotoonebank;instead

useanindependentfinancebrokerwhohas

accesstoarangeoflendersandfinance

products.

3| Beinginfluencedby“TheMarket”

Don’tbeinfluencedby“themarket”

morethanbyyourownneeds.

Surethepropertymarketmovesincycles

andtherearetimeswhentheysuitbuyers

andtherearesellers‘marketswhenprices

arebooming.However,waitingforthe“right

time”orpricestogodownisgamblingwith

yourfamily’sfuture.

Attimesthemixedmessagesinthemedia

mayconfuseyouandyou’llbetemptedto

putoffthedecisiontobuy.Ifyouknowyour

budget,haveyourfinanceorganisedand

thinkaboutyourcurrentandfutureneeds,

thenyoushouldrarelyletshorttermmarket

conditionsinfluencewhatwillbealongterm

lifestyledecision.

4| Goingbeyondyourbudget

Everyhomebuyerknowsthe

feeling-you‘relookingforahomethatfits

yourbudget,butthatmuchmoreexpensive

propertyjustlooksthatmuchmore

appealing.Howeverbuyingahomethat‘sway

outofyourpricerangecouldwellderailyour

financesinthefuture.

It’shumannatureforustowantalittlemore

thanwecanafford,andthere‘salwaysareal

estateagentwho’lltalkyoutothenextlevel.

Butdon’tbetempted-thebankhasusually

offeredyouaborrowinglimitforgood

reasonsbasedonyourabilitytorepaythe

loan.Spendingmorethanyoucansensibly

affordleavesyouexposedtopotential

financialshocks,includingrisesininterest

rates.Youmustalsoallowforchangesin

yourfuturecircumstances.

HomeBuyersProtectionPack 2

5| Falling in love

Ifyouthinkahouseisideal,don‘t

lettheseller‘sagentsknow.Agentsaregood

atreadingemotionsandnegotiatingthelast

centoutofprospectivepurchasers.

Awisehomebuyerknowsthere‘slotsof

houses-andthere‘soneouttherethat‘sthe

righthouseattherightprice.Ifyoucan‘t

affordit,moveonandkeeplooking.

6| It’s not all about price

Weallknowyoumakeyourmoneyin

propertywhenyoubuy,butthatdoesn’tmean

youmustbuycheaply.Youmakeyourmoney

bybuyingtherightpropertynotacheap

property.

Priceiswhatyoupay,valueiswhatyouget.

Thismeansyoudon’tmakeyourbuying

decisionpurelyonprice.Youcanalwaysbuy

cheappropertiesinsecondarylocationsor

onmainroads,butyou’llbestuckwitha

secondaryproperty–notagoodidea.

However,whenyou’vefoundtheright

property–it’simportanttomakeaproper

offer.Onethatsecuresyourhome,butthat

doesnotoverpay.

Don‘tbaseyourofferontheseller‘s

askingprice.Instead,getacomparative

marketanalysisfromyourbuyers’agent.

Thisanalysiswillrevealrecentasking

andsalespricesofsimilarhomesinthe

neighbourhood.Withthistypeofknowledge,

awisehomebuyercanmakeanofferthatis

appropriate.

7| Not having the right protection

clauses in the contract of sale

Don’tsignanythinguntilyouaresureyour

interestsareprotected.

Whilethestandardcontracttopurchasea

propertywillgiveyoua“3daycoolingoff

period”smartpurchasersrequestadditional

clausestoprotecttheirinterests.

Don’tbefooledbyanagentwhosaysyoucan

alwaysaskforchangesoranextensionlater.

That’snotthewayitworks.Theonlyway

togetchangestoacontractonceit’sbeen

signedistoendtheexistingcontractandre-

negotiateanewone.Andthesellerdoesn’t

havetoagreetoyourrequests.



8| Underestimating the full costs of

buying a home

Manyhomebuyersfailtobudgetforthefull

costsassociatedwithbuyingahouse.Firstly

there’stheacquisitioncosts.Thingslike

stampduties,rates,valuationcosts,loan

applicationfeesandmortgageinsurance.

Apartfrombudgetingformovingcosts,be

preparedfortheunexpectedwhenyoumove

intoyournewhome.It’sfunnyhowthings

thathavebeenworkingforyearsseemto

breakdown,asiftheyknewtherewasanew

owner.Setasideabudgetforthoseirritating

andsometimescostlybreakdowns.

Then…don’tunderestimatetheongoingcosts

ofowningyourproperty.Owningcancost

muchmorethanrentingwithexpenseslike

rates,insuranceandmaintenance.

9| The “Fed Up” Purchase

You’vebeenlookingforafewmonths

buthaven’tfoundyourdreamhome.The

agentsaremisleadingyou;youmayhave

beenoutbidbysomeonewhohaddeeper

pocketsthanyou.You’reFedUp!

Onebigmistakehomebuyersmakeisto

buyapropertyindesperation.Theybuy

somethingreasonableratherthansomething

thatreallysuitstheirneedsbecausethey’re

sickoftheemotionalrollercoasterofhome

buying.

Thisisadecisionyoumaylivetoregretfora

longtime.

Ratherthanbuyingoutoffrustration,stop

lookingforawhile,orbetterstillgetabuyers

agentonyoursidetosaveyoutime,tolook

innooksandcranniesyouwouldn’thave

You can always buy cheap properties in secondary locations or on main roads, but you’ll be stuck with a secondary property – not a good idea.

i

thoughtofandtofindthosesilentsalesfor

you–theoffmarketproperties.

Formoreinformationonbuyers’agents,

readthesection“Thehomebuyers’secret

weapon“.

10| Not organising a professional

building inspection

It’simportanttoengageacompetentand

independent(notonerecommendedbythe

sellingagent)professionaltocheckyour

potentialnewhome.

Remember…theseinspectorsaretrained

tofindfaults,sodon’tfreakoutwhenthey

producealonglist.Lookoutformajorfaults

butdon’tletminorfaultsthatareeasily

repairedtroubleyoutoomuch.

Ifyou’renotsurehowtointerpretthereport,

haveachatwiththebuildinginspector&ask

questionslike-wouldyoubuythisproperty?

11| Misunderstanding the real

estate agent‘s role

Realestateagentsarefriendlypeopleand

inthecourseofshoppingforahouse,you

willspendalotoftimewithvariousagents.

However,thewisehomebuyerunderstands

who‘sworkingforwhom.Unlessyouhave

engagedanexclusivebuyers’agent,thenthe

agentsareworkingforthesellers.

Don’tbemistaken–asellingagentcan’t

workintheinterestsofboththebuyerand

theseller.Infactthey’relegallyandmorally

obligedtoworkfortheirclient-theseller.

Howeverwisehomebuyersknowhowto

leveltheplayingfieldbyengagingabuyers’

agenttorepresenttheirinterests.Formore

informationonbuyers’agents,readthe

section“Thehomebuyers‘secretweapon“.

12| Going Solo

Thesellershaveanagent


Don’t be mistaken – a selling agent can’t work in the interests of both the buyer and the seller!

i

protectingthem,lookingaftertheirinterests

andadvisingthem,butmosthomebuyer’sgo

solo.

Sureyou’vereadsomearticlesanddoneyour

researchontheInternet,butthisislikely

tobeyourlargestpurchaseever.Andthose

emotionswillcloudsomeofyourdecisions.

Youwouldn’tgotocourtwithoutasolicitoron

yourside–wouldyou?

Youprobablyhaveagoodheadonyour

shouldersandmayevenhaveagoodworking

knowledgeofthehomebuyingprocess.

Whatyouprobablydon’thave,however,is

perspective.

If,howandwhenyoubuyahomeareall

decisionsthatwillhavemajorconsequences.

That’swhyit’simportanttohavethesame

protectiononyoursidethattheseller

has.That’swhyit’scriticaltoengagea

professionalbuyers’agenttorepresentyour

interests.

Formoreinformationonbuyers’agents,

readthesection“Thehomebuyers’secret

weapon“.

13| Thinking this list is exhaustive

It‘snot.Therearemanyother

issuestoconsider.But,hopefully,thiswill

helpyouavoidafewcommonmistakesas

youcontemplatebuyingyournexthome.

Ifyouwantallyourquestionsanswered

considerbuyingagreatbook“The Australian

Guide to Buying and Selling Your Home”–

byMichael&PamelaYardney–availableat

www.Buying&SellingYourHome.com.auor

engagingMetropole Property Strategiststo

helpleveltheplayingfieldandactingasyour

buyers’agents.

MetropoleProperty Strategists

Let us help you find & negotiate for the purchase of your next home.

It’s a great feeling having an agent on your side, working for you and not the seller.

metropole.com.auMelbourne, Sydney & Brisbane

1300 METROPOLE

G


Whenyou’relookingtobuyyournexthome,

orevenifyou’reconsideringsellingyour

property,aquestionyouwouldbeasking

yourselfis“How much is this property really

worth?”

Whodoyouasktofindout?TheSelling

Agent?AValuer?ABuyers‘Agent?Maybe

theBank?Ordoyoubuyoneofthoseonline

reports?

Itprobablywon’tcomeasasurprisethat

theyarealllikelytocomeupwithdifferent

“values”.

Youmayhaveheardoftheconceptof“fair

marketvalue”inproperty,whichisdefined

as“thepriceabuyerwillpayandaseller

willacceptgiventhatneitherthebuyer

northesellerisunderpressuretoclose

thedeal”.Pressure,ormotivationcomes

fromlifechangessuchasdivorce,asudden

jobtransfer,difficultymeetingmortgage

repaymentsoradeathinthefamilyand

thesethingscompeleitherthebuyeror

sellertoactquickly.

Nowwhenwe’retalkingfairmarketvalue,

let’sgetonethingclear–itmaynotalways

be“fair”toyou.

How much is that property worth? How do I know what price to offer?


Itmaynotbewhatyoucall“equitable”

becausefairmarketvalueisimpartial,it

takesnosidesanditdoesn’tcareaboutwhat

youneedorwhatyouwant.Asabuyeryou

wanttobuythepropertyatthebestprice

possibleandasaselleryouwanttoachieve

thehighestpriceforyourhome.

So back to my original question – who

do you ask for advice?

The real estate agent

Ifyouaskthesellingagentwhattheproperty

you’reconsideringbuyingisworth,heis

obligedtoworkforhisclient-theseller.

Whilehecangiveyoudetailsofcomparable

salesandanindicationofinterestinthe

propertyfromotherpotentialbuyers,the

sellingagentshouldbetryingtomaximize

thesalepriceforhisvendor.

A valuer

Youcouldpay$400orsoandgetan

independentprofessionalvaluation,butyou’d

probablybedisappointed.

I’vefoundthataformalvaluationisoflimited

benefitinsettingarealisticmarketpriceto

purchaseapropertyandwillgenerallybelow

whenchoosingtheaskingpricewhenselling

yourhome.It’sjustanotherfiguretoaddto

themixofpossibleprices.

Callmecynical,butinthecurrentmarket

andwiththeirprofessionalindemnity

insurancegettingmoreexpensive,combined

withthelittletheyarepaidtoconducta

valuation,Ihavefoundvaluerscomedownon

theconservativeside.

The Bank

Whenyouapplyforaloanforyournew

propertythebankwilldetermineit’svalue,

butagainthismaynotaccuratelyreflectthe

property’smarketprice.

Bankstendtovaluepropertiesatafigure

thatwillreflectwhattheycanreasonably

expecttorecoupiftheytakepossessionand

onsellyourpropertyifyoudefaultonyour

loanrepayments.Theyeitherusetheirown

stafforanoutsidefirmofvaluers,butthese

areoftendrivenbyvaluationswithouteven

lookinginsidetheproperty.

An online report from one of the property

data providers

Anumberofpropertydataandresearch

companiesprovidereportsyoucanbuy

onlinetoestimatethevalueofaproperty.

What’sthecatch?I’vefoundthattheycanbe


10–20%outontherealpriceofaproperty.

Theycanbewrongeitherway-estimating

thepropertyisworthconsiderablymoreor

lessthanitsvalue.

Thinkaboutit-theydon’tknowifthe

propertyhashadanairconditionerinstalled

orwhetherithasthreadbarecarpetsor

recentlypolishedfloorboards.Theydon’t

knowwhetherthepropertyhasbeenrecently

renovatedorisinoriginalcondition.

Inmyview,Iwouldn’tbotherwiththistypeof

report.

A Buyers’ Agent

Abuyers’agentcouldbeagoodsourceof

independentandunbiasedpropertyprice

advice.

Abuyers’agentisalicensedestateagent,

buttheoppositetoasellingagent,because

theyworkforandarepaidbythebuyer.

Ifyouchooseonethatworksinthe

geographicpatchyouareconsidering,they

shouldhaveanintimateknowledgeofthe

propertymarket,whatissellingandwhat

isn’tandthepricesthatpropertiesareselling

for.

Moreandmoreinvestorsandhomeowners

arenowusingbuyers’agentstolevelthe

playingfieldwhentheyarelookingfortheir

nextpropertypurchase.Notonlywillthey

assistwithbackgroundresearchandpricing,

butyoucanusetheirnegotiatingskillsto

helpyouobtainthebestprice.

Tobesuccessfulintoday’sflatproperty

marketsthoroughresearchandastute

propertyselectionisimportant,asisbuying

attherightprice.Investorscan’tcountonthe

risingtideofpropertypricestocoveruptheir

buyingmistakes.

Clearly the value of a property is a

very subjective thing.

Butthiscanbetoyouradvantage.While

agoodsellingagentmayencouragean

emotionalpurchasertooverpayfortheir

dreamhome,anastutebuyermaybeableto

usehisnegotiatingskillstobuyaproperty

belowits“value”fromamotivatedvendor.

Ifyouarenotable,ordon’thavethetimeto

dotherequiredresearchyourself,thenyou

needtogetagoodteamonyoursidetohelp

inyournextpropertypurchaseorsale.



5 questions to ask the agent before you

make your offer:

1. How did the vendor come to the asking

price for their home?Wasitfromthe

agent’ssuggestionorbecausethat’show

muchtheyneedtobuytheirnextdream

home?Somesellersareunrealisticand

unlikelytocomedownfromtheirasking

priceiftheyhavetogetacertainamount

foraparticularreason.

2. Have there been any other offers

made?Thisletsyouknowifyouhave

anycompetitionandhowseriousthe

vendorisaboutsellingtheirhomefora

reasonableprice.

3. How long has the home been on the

market?Ifit’sjustbeenputupforsale,

thesellermaynotbeanxioustoaccept

thefirstoffer.Ifthehomehasbeenonthe

marketforseveralmonthsit’smorelikely

thesellerwouldbereadytoacceptyour

offer.

4. Why is the vendor selling? Arethey

goingthroughadivorce?Dotheyhave

tomoveinterstateurgently?Havethey

alreadyboughtanotherhomethatwould

putthemunderpressuretoselltheir

currenthome?Thiswillletyouknowhow

motivatedtheselleris.

5. Has the asking price been reduced

during the time the property has been on

the market? Thiswilltellyouwhetherthe

sellerisreallykeentooffloadtheirhome

andalsoletyouknowthatyoumighthave

amotivatedselleronyourhandsand

perhapsgreaterbargainingpower.

GoodLuckwithyournegotiating!

With our changing lifestyles, more

and more Australians are swapping

their backyards for balconies and the

convenience of apartment living.

Ifyou’relookingforgoodvalueinyour

apartment,buyinabuildingthathas

somethinguniqueaboutit.Whetherthe

buildingisabitretroormoremodernwith

excellentfeatures,lookforsomethingthat’s

notblandandboring.

Makesureyourapartmentcomeswith

anaccessiblecarspace.Manyolder

apartments,particularlyinthecityand

innersuburbs,weren’tbuiltwithcar

accommodation,forcingresidentstopark

outonthestreet.Goodcaraccommodation

canaddsignificantlytotheresalevalueofan

apartment.

Lookforabuildingthathasahighproportion

ofowneroccupiersratherthantenants.

Ownerstendtolookafterthebuildingbetter

andaremoreinclinedtokeeptheirpartying

torespectablenoiselevels.Andlookfor

amixofunitsizestocreateadiversityof

What should I watch out for if I’m buying an apartment?


accommodationinthebuilding.

Ifsecurityisabigissueforyou,consider

afirstfloorratherthanthegroundfloor

apartment.Intheolderwalkupbuildings,

firstfloorapartmentsatthefrontofthe

buildingtendtobemorepopularandcarrya

higherpricetag.

Makesuretheapartmenthasgoodsize

livableroomsandauseablebalcony.After

all,asyouhavenobackyard,you’llbe

spendingalotoftimeinyourapartment.

Andmakesureyougetaniceviewfromyour

balcony.Resalevaluesarealwayshigherfor

apartmentswithpleasantviews.Morepeople

enjoylookingatgardensandtreesrather

thanasphalt!

Checkoutthehotwaterservice-willit

meetyourneeds?Willyoubeabletodo

thelaundry,takeashowerandrunthe

dishwasheratthesametime?

AlsocheckouttheannualOwners’

CorporationorBodyCorporatefeesand

makesuretheOwners’Corporationdoesn’t

haveanyongoingdisputeswithneighbours.

Itshouldalsohavea‘sinkingfund’which

ismoneyputasidetopayforfuturemajor

repairsforthebuilding.

Whileyoumightbeenticedbyasparkling

pooloragyminthebasementofthe

building,beawarethatyouwilloftenpay

twiceasmuchinOwners’Corporatefeesto

maintaintheseluxuries.Itwouldprobablybe

cheapertojoinagymdowntheroadthanto

buyintoacomplexwiththeseaddedextras!


Introduction

Normallybuyingahomeisamajor

experience,filledwithexcitement,

pleasure,pride,stressandfearandwill

consumemuchofyourprecioustime,

moneyandenergy.

Choosingtherightpropertyforyourfamily

comesdowntoknowingwhatyouneed,

knowingwhatyoucanaffordandknowing

exactlywhat‘savailableatthetimeyouare

readytobuy.

Manyhomebuyersfeelthelandscapeis

stackedinfavourofthesellersbecausethat’s

whotheagentsworkfor,whichiswhymore

andmorehomebuyersareturningtobuyers’

agentsforhelp.

Choosingagoodbuyers’agenthelpslevel

theplayingfield,andatMetropoleProperty

Strategistswww.metropole.com.au,we’ve

beenawardedBuyers’AgentoftheYearfour

yearsinarow.

It‘sagreatfeelinghavinganexperienced

agentonyoursidelevellingtheplayingfield,

ratherthanworkingfortheseller.Solet’s

findoutabitmoreaboutthiscuriousbreed

wecallbuyers’agents...

What is a buyers’ agent?

Abuyers‘agentorbuyers‘advocateisthe

oppositeofasellingagent,becausethey

workforandarepaidbythebuyer.Theyare

licensedrealestateagentsandtheirjobis

toworkforyouandprotectyourinterests.

Theyhelpyoubuytherightpropertyforyour

needs,attherightprice,ontherightterms

andwithunbiasedadvice.

Why pay money for something you can do

yourself?

Goodquestion...We‘llgiveyou5reasonswhy

The homebuyers’ secret weapon - Having an agent on your side


agoodbuyers’agentwillhelpyou;

• Theirresearchsavesyoumoney–they

knowwhat’sreallygoingoninthe

propertymarket–afterallthey’reinitall

day.

• Theirskillsreduceyourstress.Buying

ahomeorinvestmentpropertycanbe

aboutasnerve-rackingasitgets.It‘s

emotional,exhaustingandsometimes

terriblydiscouraging.Abuyers’agent’s

jobistomaketheprocessashasslefree

aspossibleforyou.

• Theirexperiencesavesyoutime-and

thisisoneofyourmostpreciousassets.

Usingabuyers’agentwillgiveyouback

yourweekends.

• Theirindustryknowledgelevelsthe

playingfield–sellingagentsarenotyour

friend,theyrepresenttheirclient-the

seller.

• Theirindustrycontactswidenyour

options–theyhaveaccesstoevery

propertyforsaleandagoodbuyers’

agentevenhasaccesstosilent-“off

marketsales”thatyoumayneverfindout

about.

Why doesn‘t everybody use a buyers’

agent?

Actually,manypeopledo,especially

overseas.InSydney,MelbourneandBrisbane

thenumbersaregrowingandwehaveseen

estimatesthatupto1in5buyersnowusean

advocateorseekindependentprofessional

advice.

Why can‘t a selling agent help me?

Asellingagentmustactinthebestinterests

oftheirclient-theseller.Theydonot,and

shouldnot,workforyou-thebuyer.We

knowsomeagentswouldliketoworkfor

bothsidesandhaveitbothways,butwhen

youthinkaboutit,theycannotpossiblydo

botheffectivelyasthiswouldcreateaclear

conflictofinterest.

How do I find a good buyers’ agent

Notallbuyers’agentsarethesame.Hereare

somequestionsyoucouldaskyourbuyers’

agentbeforeengagingthem:

1. Areyouafullylicensedrealestateagent?

Bewaryofhiringsomeonewhodoesn’t

holdarealestatelicenceandhasn’thad

extensiveexperienceintheproperty

industry.

Therearemanypeopleouttherecalling

themselvesabuyers’agentorbuyers’

advocatewhoarenotlicensedestate


agents.Don’triskputtingwhatcouldbe

oneofthelargestpurchasesinyourlife

inthehandsofsomebodywhohasn’t

hadtheyearsofexperiencenecessary

tonegotiateonyourbehalf.Don’tbe

temptedtoengagesomebodyjust

becausetheyofferlowerfees.Iftheycan

providegreatserviceandaddrealvalue

fortheirclients,theywouldn’thavetowin

newbusinessbyofferinglowfees.

2. AreyouamemberoftheStateReal

EstateInstitute?

Thisshouldgiveyouthereassurance

thattheyareoperatingtoprofessional

industrystandards.

3. Doyouhavecurrentprofessional

indemnityinsurance?

Ifsomethinggoeswrongwithyour

propertypurchaseyouwillhave

absolutelynorecourseifthisisnotthe

case.

4. Areyouadedicatedbuyers’agent?

Oraretheyjustadivisionofarealestate

agencyoraonemanbandworkingfrom

homeoroutofapostofficebox?They

can’tofferahighstandardofservice

whensearchingandnegotiatingfor

propertiesfortheirclientsunlesstheyare

dedicatedprofessionalsfocusedonthis

process.

5. Doyouspecialiseinthegeographic

location&thepricerangeIamlooking

at?

Ifthebuyers’agentdoesn’thaveastrong

recenttrackrecordofbuyinginthearea

youarelookingatpurchasingin,we

suggestyoudon’tengagetheirservices.

Don’tbeshytoaskthemfortheresultsof

atleastfourrecentpurchasesinthearea

youarelookingatbuyingin.

6. Doesyourbuyers’agenthaveaccessto

“silentsales?”Manypropertiesthatare

Don’t risk putting one of the largest purchases in your life in the hands of someone who hasn’t had the years of experience necessary to negotiate on your behalf.

i



soldneverhitthepublicmarket.Itis

imperativethatyourbuyers’agenthas

yearsofpersonalrelationshipswithall

oftherealestateagentsintheareayou

arelookingatpurchasingin,soassoon

aspropertiescomeupforsaleyouhave

accesstothesebeforetheygotothe

generalpublic.

What do I pay a buyers’ agent?

Generallybuyers’agentschargea

registrationfeebetween$1,000and$2,000

andwillthenchargeasuccessfeewhen

theyfindtherightpropertyforyouand

successfullynegotiateitspurchaseonyour

behalf.Thiscanbeafixedfee,butitisusually

apercentageofthefinalpropertyprice.

Theirfeesshouldcover:

• Allcommunications&meetingswithyou.

• Referralstoappropriateconsultants

suchasfinance,accountingandlegal

professionalsifnecessary.

• Searchingforasuitableproperty,

includingcommunicationsandmeetings

withagents.

• Useofalltheirresearchdatabases.

• Evaluatingpropertiestoensuretheysuit

yourcriteria.

• Preparationofpropertyreportsto

helpyouevaluatethepropertiesthey

recommendtoyou.

• Communicationswithyourfinance

broker,solicitorandaccountant.

• Arrangingfurtherduediligencechecks

-includingstrata,buildingandpest

inspectionsasrequired(youwillbe

requiredtopayfortheseseparately).

• Executionofstrategiestopurchasethe

propertyforyouatthebestpriceandthen

negotiatingyourpropertypurchase.

• Checkingfinalcontracts.

• Presettlementinspections.

Whether it is your first home or your next

home, finding your dream home will be

much easier with the efficient Metropole

team on your side, working for you.

Normallybuyingahomeisamajor

experience,filledwithexcitement,pleasure,

pride,stressandfearandwillconsume

muchofyourprecioustime,moneyand

energy.

Choosingtherightpropertyforyourfamily

comesdowntoknowingwhatyouneed,

knowingwhatyoucanaffordandknowing

exactlywhat‘savailableatthetimeyouare

readytobuy.

Usingourunique5stephomeacquisition

processwewillhelpyoudecidewhattype

ofpropertybestsuitsyouandwherethat

propertyislocated.

Onceweformulateabuyingbriefwethen

doallthelegwork,gotoalltheinspections,

comparetheprosandconsofeachproperty,

workoutwhatpricetoofferandnegotiatethe

bestpricewiththesellingestateagent.

Partofourjobistoprotectyoubecauseit

istooeasytogetemotionallycaughtupin

theprocessandpaytoomuch,orbecome

frustratedatnotbeingabletofindthe“right“

propertyandendupbuyingthe“wrong“

property.

Why Use Metropole as Your Buyers’ Agent?


TheteamatMetropolePropertyStrategists

specialiseinhelpinghomebuyers.Wesource

andnegotiatethepurchaseofresidential

propertypurchasesforlocal,interstateand

internationalclients.

Bytheway…Metropolehaswonthecoveted

Buyers’AgentoftheYearawardfor4yearsin

arow.

Wearetheoppositetosellingagentswho

workforandarepaidbytheseller.Weare

licensedrealestateagents(membersofthe

REIV,REINSWandREIQ)andovertheyears

haveboughtmillionsandmillionsofdollars

worthofpropertiesforourclients.

It‘sagreatfeelinghavinganexperienced

agentonyoursidelevellingtheplaying

field,ratherthanworkingfortheseller.You

see...ourbuyers‘agentshavemanyyearsof

experiencesellingresidentialrealestate,so

theyknowallthetricksandtrapsandbring

thisknowledgetoyou.

6 reasons why you should use a

Metropole buyers agent to help you buy

your house

1. We have access to every property for sale

Wehavenopropertiesforsale,butunlike

sellingagents,wehaveaccesstoevery

propertyonthemarket.


2. We act for you and work for you

Wearepaidbyyouandreceiveno

commissionsfromsellingagentsorvendors.

We have no interest in any of the properties

werecommendforpurchase.Inotherwords,

allourrecommendationsaregenuineand

completelyindependent.

3. Our research saves you money

EngagingMetropolemeansyouwon‘tpaytoo

much.Selectingtherightpropertyrequires

timeconsumingresearchofmany

factorsincludingpastsalesresults,market

influencesandfactorsthatwouldimpacton

futurevalues.

4. Our experience saves you time

Searchingfortherightpropertytakesa

considerableamountoftime-oneofyour

mostpreciousassets.Manyofourclientsare

busyprofessionalsandunderstandtheneed

toleveragetheirtime.Wedoallthelegwork

andpresentashortlistofsuitableproperties

foryoutoinspect.



5. We know property

TheteamatMetropolehasextensive

propertyexperienceintheareasofproperty

purchasingandnegotiation.Youcanbe

assuredthatthepeoplenegotiatingand

securingpropertiesonyourbehalfarewell

informedonmarkettrendsandvalues.

Wefindoutwhatyouwantandgetitforyou

Wetakethetimetodetermineyourneeds

andyourlongtermgoalsatthebeginning

ofthesearchprocesssothatwecanidentify

propertiesthatmeetallyourrequirements.

6. Our skills reduces your stress

Buyingahomecanbeaverystressful

experience.Ourjobistomaketheprocessas

hasslefreeaspossible.Weguideyouthrough

theprocess,coordinatingallthesupport

servicesyouneedincludingsolicitors,

mortgagebrokers,buildinginspectorsand

insurancebrokers.

The right property, at the right price,

unbiased advice.

Now that you understand the value of a buyers‘ agent:Arrange your FREE preliminary consultation. Call us on 1300 METROPOLE and let’s discuss your options


When you choose Metropole to help you

locate your next home, the following

process occurs:

Step 1 - We establish your requirements

Weofferafreeinitialconsultationto

establishyourrequirements.Yourfamily‘s

shortandlongtermneedswillbecriticalin

determiningthetypeofproperty,thesuburb

andthestrategythatweuse.Ifnecessary,

wewillreferyoutoourfinanceaffiliates,

accountantsandsolicitorstoassistyou.We

developabuyer‘sbriefbasedonyourneeds.

Step 2 - Property search

Onceyougiveusthegoahead,we‘ll

undertakeacomprehensivesearchof

propertiesavailableforsaleinyourtarget

market.Wenotonlyhaveaccesstothe

propertieslistedontheopenmarket,but

alsotomany“silentsales“beforetheycome

onthemarket.

Wewillinspectmanypropertiesonyour

behalf,savingyoutimeandmoney.Wethen

prioritizethem,identifygoodopportunities

andpresentthemtoyou(initiallybyemailif

required)foryourselection.Toassistyou,we

includedigitalphotosoftheproperty,location

maps,floorplansandfurtherdetailsas

required.Ifoneofthepropertiesissuitable,

wewillthenarrangeaninspectiontimefor

you.

Metropole’s 5 Step Home Acquisition Process


Step 3 - Due diligence process

Ifyouarekeentoproceedwithoneofthe

properties,wewillthenfurtherevaluate

andassessit.Wemayarrangeabuilding

inspectionorgetyoursolicitortoassess

documentationandtheContractofSale.

Wewillresearchwhythevendorisselling

thepropertyandestablishalevelofinterest

inthepropertybythegeneralmarket

toenableustoestablishthebestwayof

negotiatingforitspurchase.Wewillidentify

comparablesalesandrentalsinthearea

andassessthepotentialcapitalgrowthof

yourpropertybasedonhistoricaltrendsand

futureindicators.

Step 4 - Valuation

Throughouraccesstoindustrydatabases,

wecanobtainuptodateinformationabout

thehistoryoftheproperty,includingitslast

saleprice.Wewillassistindeterminingits

valueusingcomparablesalesdata.Wecan

alsoarrangeavaluationbyaregistered

valuerifneeded.

Step 5 - Acquisition strategy

Ifyoudecidetoproceed,wewilldevelopa

suitableacquisitionstrategytoensurewe

buythepropertyatthebestpriceforyou.We

willnegotiatewiththeagentonyourbehalf

orbidatauctiontoensurethatyouobtainthe

propertyforthelowestpossibleprice.


Now that you understand the value of a buyers‘ agent:Arrange your FREE preliminary consultation. Call us on 1300 METROPOLE and let’s discuss your options


protectionpack home buyers · houses - and there‘s one out there that‘s the right house at the...

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