Property Hub - Investment Insights & Inspiration - Realty Talk: Simon Says - 2022 + Cost of Free Advice + Off Market Secrets

Episode Date: February 25, 2022

As property around the country has enjoyed the strongest growth in over 30 years, everyone is wondering what the future holds so contrarian Simon Pressley from Propertyology completes our 2 part special with his surprising predictions for 2022.  When it comes to opinions on property it seems like everyone’s an expert - but who can you trust? Lloyd Edge from Aus Property Professionals questions the true cost of free property advice.   In the current hot property market, how can you leap the queue and access off-market properties? Property Negotiator Scott Aggett from Hello Haus joins us to share his secrets on how you can access 40% more off-market and pre-market properties.  RealtyTalk is your trusted voice in property investment and Australia’s most popular online property show.  RealtyTalk is brought to you by Realty, Australia’s leading search and social property distribution platform that helps investors like you beat the crowd, giving you the earliest access to property opportunities, listings, and insights. Check out Realty. RealtyTalk is hosted by top property investment expert, author, and founder of KnowHow Property, Bushy Martin. Find out how Bushy’s KnowHow team helps investors unlock freedom with finance and property here, and check out Bushy’s podcast Get Invested.  RealtyTalk is supported by BMT, a company that helps property investors save thousands of dollars each year by maximizing tax deductions from investment properties. Find out more. See omnystudio.com/listener for privacy information.

Welcome to Realty Talk, the show that brings together the country's most authoritative and respected property experts. Follow us on all the socials and subscribe for updates and exclusive offers. Realty Talk is powered by realty.com.au, connecting buyers, sellers and agents differently. Hi, and welcome to Realty Talk, Australia's longest running property show. I'm Bushy Martin from Know How Property Finance, and we've got more great guests for you in this week's episode. As property around the country has enjoyed the strongest growth in over 30 years, everyone's wondering what the future holds. So contrarian Simon Presley from Propertyology

kicks things off by completing our two-part special with his surprising Simon Says predictions for 2022. Now, when it comes to opinions on property, it seems like everyone's an expert, But who can you trust? Lloyd Edge from Oz Property Professionals joins us to question the true cost of free property advice. And in the current hot property market, how can you leap the queue and access off-market properties? Property negotiator Scott Aggett from Hello House rounds out the show to share his secrets and how you can access 40% more off-market and pre-market properties. Before we share these great insights, make sure you don't miss an episode of Realty Talk by signing up on the realty.com.au homepage so you get every show in your inbox every week. Now, let's get on

with the show. Hi and welcome. Now, in my humble experience, most property predictions revolve around the so-called science of explaining tomorrow why the predictions made yesterday didn't come true today. And with property across the nation enjoying the strongest growth in over 30 years in 2021, it seems everyone's jumping on the property bandwagon and predictions and projections about what's likely to happen abound. So how do you separate the property wheat from the chaff? Well, fortunately, none of my forecast criticisms are true for today's Realty Talk favourite guest, Simon Presley. He joins us for part two of his special 2022 property market outlook. Simon's a proud contrarian like myself, and his consistent property prediction accuracy

is absolutely second to none. Simon's recognised as Australia's premier property market analyst as the head of research at Propertyology. So welcome back to Realty Talk, Simon. Thanks, Bushy. Thank you for having me back. Always, mate. Now, last week, we did a deep dive into the year that was for property. So this week, we're going to switch our focus from the rearview mirror to the forward-looking windscreen to look of the year that will be so to kick things off can you start with a quick summary of what bank economists and other interested commentators are predicting for 2022 on a capital city basis compared to your own forecasts yeah a lot producing uh graphical illustrations for your

viewers bushy so we've got a chart to uh to show that there but um so we've got a and z comma thank nab westpac um and our friend louis christopher from sqm as well as property ologies forecast for the year ahead um look they've all got somewhere you know three to seven percent um for all of the capital cities uh for 2022 and um all of them are then saying in 2023 that's um pretty much what they what they gain in 2022 so they're saying a net zero result over the next two years could not disagree more um so either i'm going to be the idiot um in two years time or they will be uh only time will tell for for there to be anything less than double digit growth and i mean deep double digit growth in the year 2022 there would need to be something

really really significant occurred during the year that we just couldn't expect now that can always happen right um no one has a crystal ball they had there would need to be something really significant so the logical thing would be apple would have to say we're just making it near impossible for someone to get a loan now they could do that highly highly unlikely in my opinion because if they do that they're going to squeeze the life out of the economy and we're coming out of global um health pandemic and every government is trying to do as much as they can to not only get the other side of the pandemic but set us up for a really strong future so um africa could do that but they'd be working totally against um everyone else they did it yeah yep totally agree

What key assumptions then underpin your predictions for this year, Simon? Well, we look at the sum of all factors is what I call it, and there's too many to itemise here. But the number of properties listed for sale, we have a look at rental supply as well as resale supply. We look at new construction supply. So there are our three key supply metrics. On the demand side of things, there's a whole bunch of stuff.

A lot of people think demand is all about population growth. It has been about that. But what we do anticipate in 2022 is a recommencement of overseas migration. Won't have anywhere near the impact as what people expected. It never has had a big impact, but it's a positive influence nonetheless. Interest rates, the economic conditions of each individual

town and city is always a really, really big thing. Not just general job creation, but things like infrastructure projects and various initiatives there in different industry sectors. So it's a lot more complicated than what I've said there. but there are things on the supply and demand side. Now, I'll be at capital cities. I think the absolute standout in 2022, and I've got to say it's about 13 years overdue,

Brisbane will be the best performed capital city in the year 2022. Now, my colleagues in the industry are saying somewhere between 5% and 8% for Brisbane. I'll be horrified if it has anything less than 20% this year and will not be surprised at all if it doesn't push towards 30%, as it did in 2021. If it doesn't do that, it would be because something big that we, as I said, we can't imagine now has interrupted that.

But it's going to be a strong year. I think Adelaide will be in the very high teens, somewhere around about 20%. I think Hobart will exceed 20% despite its seven-year consecutive years of strong growth already. All the fundamentals, when I look at them, and whilst logic suggests the market can't keep going so strong for so long, the fundamentals determine what the market does. And I look at that and I go, all-time record low number of properties listed to sale, the lowest supply of our eight capital cities, and the strongest capital city in terms of local economy. And I think with borders opening now, there's going to be an increased number of people wanting to live in Tassie. So it's going to be a really strong platform. Canberra will do somewhere in the high teens as well.

Well, some stage during this year, I think we'll see a fairly sharp easing of growth rates in Sydney and Melbourne. That doesn't mean that they'll lose value. That could happen. But I think this is the year that we'll see them really slow down and Darwin still has a problematic economy. The winners, as with every year, Bushy, will not be among the eight capital cities.

They'll be among the regions. Yeah. Yeah, if you haven't touched on WA and you've never been a big fan of WA given its singular resource focus. What's your view on WA? My apologies to those over in the beautiful west. Look, Australia's fourth biggest city will have a long overdue good year. I think somewhere around that 10% mark.

It's funny we sort of say that with a bit of a pout lip, but 10% in any year is a spectacular year. But relative to what many other parts of Australia will do, 10% might seem like underperformed. But I love Perth, don't get me wrong. but it has a very unhealthy reliance on the mining sector and particularly China. And that's not an opinion, that's evidence-based.

I don't determine that, that's evidence-based. So we won't invest there whilst I hope Perth does well for residents in Perth. It's an unreasonable risk. We just don't need to take it. Yeah, no, good call. Okay, let's have a look now at some of the common property market drivers

and let's start with interest rates. What has and is likely to happen with rates and what impact will they have, do you think? Yeah, we've got to talk about interest rates. I've got to admit, Bushy, it's a bloody yawn fest. We've already had 18 months of commentary about they're going to go up and they're going to go up in this month, they're going to go up on this March. When you buy a property, you buy a debt as well,

and you are typically signing up a 25 to 30-year contract. And during that, let's call it three decades, interest rates will go up, interest rates will go down, and interest rates will go sideways. So we're heading towards a cycle when interest rates will go up. i really don't care when they go up i really don't care how much they'll go up because what i do know is when rates go up the rba will be true to their word they'll go up once we've got strong sustained wage growth but let's let's bring up the slide that you've got on the rpa side of the equation now and just so that it further illustrates what you're talking about there simon yeah so i mean

people assume that if interest rates go up property prices can't rise i can't stress enough to anyone who's got an interest in property markets it's the sum of all factors it's never one factor if we go back two years ago when covid started that one factor that everyone obsessed about was oh no overseas um migration therefore no population growth property prices have to die right um and then six months after that that one thing was job keeper oh when that stops the world's going to fall apart and then it was the loan deferral payments when that stops the world's going to fall apart if the sum of all bloody things we need to look at interest rates are one a one factor i'll go up and you know what when they go up our expenses will have gone up

but our income would have gone up as well as always happens with you know assets and liabilities when you're looking at both sides of the balance sheet um and they can go up by three or four times i'm not saying they will do that um over over a couple of years they might they've got to go up five times bushy just to get back to where they were two and a half years ago that's right and and how did australians cope with their mortgage two and a half years ago well we had a record low number of mortgages in arrears uh now we have a record number record volume of cash in offset accounts, well over $100 billion. Why is that? Because almost everyone with a mortgage, not just now, but for many years, they set their direct debit payment. So they're paying

well above the minimum loan repayment. They've been doing that for years. So they're flush with cash. So they're not going to feel it when interest rates go up. Really don't care. Well, made my point. Yeah, mate, loud and clear and 100% agree. Let's now turn to the old property supply and demand equation and unpack the great research you've done in this area to predict its impact on property performance and we'll bring up the supply demand slide that you've done now to illustrate that yeah so this looks at australia as a whole uh the green wavy line there and we're looking at the last six years so the green line there um what we what we mean by supply in this graphic is the number of properties listed for sale yep if bushy owns his house and he listed

with Ray White so the sales sign goes out the front it forms part of these statistics so you can see there was a fairly sort of consistent line going from the left-hand side progressively getting towards the right-hand side and then it started to dip for about three years before the orange dotted line there which is when which is when COVID kicked in so Australians who owned homes were losing confidence because of election threats to scrap negative gearing and inability to get finance and all that sort of stuff we've been through before when you own an asset and you don't have confidence more often than not to buy something else you've got to sell the one you're in first people didn't have the confidence to do that so we already had um a record low number of

properties listed to sell right across australia as a whole before covid arrived this is the number one reason why i was so confident that a boom was going to happen because we had record low supply Since then, look at how sharply that green line has dropped. Here and now today, if people like stats, this is one of the best stats I've ever come up with. The number of properties listed for sale today as at the end of January 2022 is 200,000. That number is less than 12 years ago

when we started recording this number. 12 years ago. Australia's population today is 4 million people less. and 12 years ago how anyone can be predicting just mild growth in this year with such low volumes of properties for sale is beyond me the blue line is demand in this graphic so we took we're measuring behavior in real estate here yeah um so the blue line demand being number of um properties sold or all the buyer activity look how big that gap is they are they are jaws bigger than the movie mate yeah there's a massive and widening gap which uh all tends to reinforce exactly what

you're saying right that uh the the boom that you predicted 12 months ago or before that actually is still got a lot of life in it so now i love that well pulling us all together then can you break down your analysis of the current key property drag and lift drivers as you call them along with your conclusion on the net property outcome yeah so this will put if we bring this graphic up with the plane on it um this puts um in one simple illustration what i mean by not getting obsessed with that one thing we need to be aware of the one thing in this case it seems to be bloody interest rates but um but it's not the only thing so every single year there will be things that have a dragging effect a pull down effect on the value of real estate so we're talking macro

national factors here um the prospect of interest rates rising at the end of the day all this commentary we don't nothing's actually happened yet we might get to the end of the year and they still haven't moved all right um but let's say that they do so it's a dragging effect um inflation so the cost of a lot of our goods and services is increasing so that has a dragging effect on household budgets um skilled labor shortages businesses all over australia want to expand job ads everywhere a lot of cases the people aren't living there locally to fill those positions um not a bad thing um but not not the ability to realize their potential the lemon sucker of commentary we've seen a lot of it haven't we last three years and it will get stronger and

stronger this year you're going to hear daily reports about housing affordability crisis and there's going to there's going to be bubbles bursting and too much debt and all that sort of stuff you're going to hear that every bloody day there's a there's a federal election at some stage in the next few months so no there'll be some property related initiatives about that and the media will bloody love it so they're the drag effect right let's put on the table now let's have a look at the orange texts all over australia you're going to have people upgrading the family home an existing homeowner who's got so much equity in their current house strong confidence in their job um salaries going up and the covet effect of i want a different property now i want

my own little isis they are going to do it yeah so there'll be more buyers than normal that that will be one of the biggest driving effects wage growth we are i believe the rba more than any other bank and economists and they are forecasting the strongest weight of rage growth on the horizon that we've seen in 12 years yeah right so we're going to hear about the interest rates going up the expense going up but they selectively forget that the income's coming with it right um we've got the highest number of jobs advertised um you know for our employers that we've ever seen yeah we're going to open up the floodgates with um overseas migration we've got 45 billion dollars that will be spent just this year in infrastructure,

almost double what it's ever been before in one year. If interest rates go up or not, guess what? They'll still be the lowest in our lifetime, Bushy. We've got to stop sooking. The cost to build a new home, and we need lots more of them, is going to increase because demand for skilled labour and materials is going through the roof. So whatever new home they do build will cost more

than what it cost a couple of years ago, which pushes up the value of the other existing ones um household savings according to cba as recent commonwealth bank as recently as november 230 billion billion dollars in cash amongst our households offset accounts redraws and savings again 230 billion bucks and people are worried about interest rates going up a couple hey seriously that if that's not exciting i don't know what is yeah there's so many positive influences and as you say it's not one single factor it's the combination of the dynamics but if you look at it on balance and you that's a beautiful illustration that you've given us there it makes it very clear that the

lift is going to outweigh the the drag so uh so mate um moving to uh you know i'm encouraging uh everyone to jump on board your property ology website to have a look at your 2022 property market outlook report but you've identified there that the current rental crisis is our biggest challenge what are your thoughts on this and uh what can and needs to be done about it yeah um look it's something i'm very passionate about to tell you the truth bushy and um i'm a landlord and i represent landlords yeah propiology specializing help people invest but we're all also empathetic people and and at the coalface every single day in locations all over australia whilst it's exciting for our clients to see in a lot of cases their rents go up by 100 bucks a year

it's also concerning knowing that um there are good people like you and i with jobs and incomes and and good rental histories that are literally living in cars living in tents um there are people wanting to leave one city to go to another city for a career advancement a job promotion or a career change um or to or to escape the the covid lockdown risk whatever it's not they're not employable but there's no way to live at the other at the other side now we've gone out of your way commenting on this for about four or five years now so this hasn't popped up in the year 2022 the cause and effect for the mess that we're in in 2022 has been unfolding for several years and bushy there are only two forms of supply of rental accommodation it's what

governments predominantly state and to a lesser extent federal governments it's what they fund and it's what you and i and any other everyday aussie funds if we buy an investment property the official statistics state and federal governments combined represent 15 of the entire rental pool in this nation that's it and they are contributing a lot less than 15 each and every year to the growing demand for rental accommodation so if we if governments don't year in year out supply more rental accommodation and at the same time landlords get whacked year after year after year from state government legislation from afra tightening credit then the other and most important form of rental supply it gets squashed so we've had five years

of this yep so rental accommodation comes up but the suppliers have been met um we've got a mess and this year better i'll give you a scoop on a report we're about to um publish we have nominated 58 individual regional towns and cities throughout australia and only two of those are capital cities yep where we anticipate that rents will the advertised rate of um a standard house will increase by at least five thousand dollars in this year alone and you know what my friend this mess is not going to be this year alone it's going to last a long time because the actions need to change first and the dickheads in high places mate they're not saying the right thing so i don't know we are living our rental accommodation in this country is akin to a third world country

that's how bad it is yeah yeah well and as you say it's not a quick fix exercise and and unfortunately if it's left to the private sector which it is then there's no strategic move collectively to change it government sort of bowed out of the rental situation decades ago and they just stopped stop facilitating that so this this is something that's going to be with for quite some time to come, no doubt, Simon. Yeah, I mean, almost every state government in Australia, their response to this, so they don't understand the rising rents and the person and families living in cars, right?

They see landlords are arseholes, landlords are increasing rents, so we've got to pass a piece of legislation to stop that. You know what? It's not caused by that. And when you do that, which a number of them have done, you know what happens? a number of exists we need to we're talking here this is a supply issue so we need to add more supply the supply that's already there let alone what we need to add next year the supply is already

a number of like you talk to any property manager anywhere in australia and they will tell you that their rent roll has shrunk nothing to do with covid the rent roll has shrunk because existing investors have said i am sick of being told what i can and can't do with my assets i don't want to play this game anymore so if that landlord sells you remove supply and we need to be adding a lot more absolutely spot on and absolutely and that that uh tenant protection legislation while you know we get it in terms of uh the general intent uh it's adding very significant cost burdens to existing landlords and and anecdotally agreeing with you there simon we've had quite a few landlords have gone too hard too costly we're out we'd be better off leaving the property vacant

than we would be trying to contend with and upgrade the property to get up to speed with the legislation. Very interesting, mate. Well, look, we could talk for hours, but always enjoy your unique insights, Simon. And thanks again for your time on the show today. Thank you, mate. See you next time.

Thanks, mate. Well, as I've always said, the goal of forecasting is not to predict the future, but to tell you what you need to know so that you can take meaningful action now. So if you want to get fully informed to make good property decisions have a good read of simon's 2022 property market report which you can find on propertyology.com.au or reach out to simon and the propertyology team stay with us for

more here on realty talk successful property investment is a game of finance do you have the right team and the right game plan realty talk is brought to you by know how property more than mortgage brokers bushy martin and his team of investment architects set you up with a sustainable strategy structured to lower your costs tax risk and stress while increasing your capacity for growth know-how has helped over 1900 homeowners and investors secure more than 800 million dollars in property wealth. So get set to live more, work less and live your legacy. Want to know how to invest in your freedom? Visit knowhowproperty.com.au. Hi and welcome. Now it's fair to say that since the advent of the COVID catalyst, the last couple of years in property has been the most

turbulent in decades. And when faced with tough and uncertain decisions, many Aussies have understandably fallen victim to a number of age-old property mistakes. So what are these mistakes and how can you avoid them? Well, to discuss this, we're doing a two-part Realty Talk special on common property mistakes with Lloyd Edge, the Managing Director of Oz Property Professionals Buyers Agency and the author of his best-selling book, Positively Geared. So welcome back to Realty Talk, Lloyd. Hi, Bushy. How are you going? Good to be here. Yeah, always good to have a chat, mate. Now, Lloyd, let's start where just about everyone starts in property. Should you trust your family and friends when it comes to property advice?

Well, the thing about family and friends is they're always very well-meaning, and particularly when you're speaking to them on the weekend, maybe at that family barbecue and things like that. But the thing is, number one, have they got a property portfolio themselves? How much experience they've got in uh in property is is i think very important uh i think uh it's really important to take independent advice as well so rather than just taking advice from family and friends you know really go and you know seek some advice from independent professionals and talk to them about what your goals what your plans are uh and then they can give you some uh some wider hints of what the market's doing and what you should be doing because family and friends are likely to be

uh you know a little bit of a downer there they might be looking out for your best interest but telling you that you shouldn't be buying he shouldn't be buying there that may happen to you and that can scare you a little bit may or may not be the right thing to be saying to you yeah well just on that how do you know if the advice from your family and friends is sound or not yeah well i i think uh like i said before they uh you just need to uh work out whether they've actually had that sort of success so if you've got someone in your family who's got a portfolio of 10 properties and they've they've got a lot of experience there then you can probably be pretty confident that you've got someone there who is giving you good advice so not all advice

from friends and family is bad advice you just need to be careful about that but someone who's never bought a property before but says that uh you know my friend's cousin uh bought a property and you know things didn't go so well and the tenants are going away and they put holes in the wall and they never fixed it and all sorts of things uh so you shouldn't buy a property because of that that's probably the sort of advice that you probably want to go and get a second opinion on maybe from someone else yeah totally agree now while we're on the subject of free advice how do you know if you can trust a professional who's giving you free advice i think the most important thing is uh there's not such thing as free advice uh so you should really be going and

paying for some advice so for example if you're buying a property that's off the plan and or you're buying something direct from a builder or a developer uh and there may not necessarily be anything wrong with that. But if you're not actually paying an independent fee for some advice on that, but you're being told to buy a particular property or particular project and being told it's in a great area and being given all these glossy brochures, it may not necessarily be the right property for you. And there may be some kickbacks, some commissions built into that, that you're not really aware of or that aren't being disclosed. So that's different to going and buying a property where you might be seeking some independent advice from a property strategist,

a property advisor, perhaps a buyer's agent, well, you pay them a fee and they can advise you on a property and maybe source you a property independently of those sort of new off the plan type properties. Yeah, totally agree. There's that old saying, there's no such thing as a free lunch. Certainly rings true there, Lloyd. Lloyd, what things should you be aware of when trusting a professional then i think um a track record is very important so uh when you're seeking advice like whenever i seek advice i like to say that they've actually done um what i'm trying to do um done it themselves so that uh you've got someone to look up to so that i think that's very important like i wouldn't go and get my car fixed from a mechanic who's never fixed a car

before for example so uh you know going and getting advice from a professional uh who's never bought a property themselves is probably not the best thing to do but also checking that they've got a license and they're qualified for what you're trying to get advice on so that may not just be about acquiring a property it might be about using a mortgage broker for example now they need to have financial services license and things like that so you need to check those sort of things make sure that they're accredited to be able to provide the sort of advice that you're uh that you're acquiring things like that so just doing some of those background checks are really important rather than just going in and seeking advice based on

uh you know someone's recommendation or based on a website or something yeah totally agree and i think in the the property advice space uh uh it's certainly i'm a big fan of pippa the property investment professionals of australia uh they've got a fairly rigid accreditation process that really sorts the sheep from the goats in relation to who's who's really able to give you independent and transparent property advice so for those that aren't aware of PIPA check it out there's a great listing of accredited professionals across all streams there excellent well look I really appreciate your insights on this Lloyd and we look forward to delving more into this in part two of our common property mistakes feature so thanks for your time on the show today great

thanks so much. Thanks Lloyd. Well Lloyd's provided us with further evidence of what I like to call the law of the inverse investment which states that the louder and stronger a person's opinion on investment the less likely they are to own any and the less reliable they are with their opinions and this tends to echo the old saying that wise people only talk when they have something to say whereas fools talk because they have to say something. So if you want to avoid the property mistakes of the masses, grab yourself a copy of Lloyd's book, Positively Geared, which you can find at auspropertyprofessionals.com.au forward slash positively geared. You're watching Realty Talk, so stay with us for more. Property deductions can save you thousands of dollars each year. To

make sure you maximise deductions, you need to work with the most experienced quantity surveyor in the country. BMT Tax Depreciation is the leading specialist in the industry. They've completed over 700,000 tax deduction schedules for residential investment and commercial properties Australia-wide. BMT guarantee to find double your fee in the first full financial year deductions. Call BMT on 1300 728 726 today for an obligation free quote. Hi and welcome. Now in the current hot property market, the biggest challenge for buyers is a lack of properties for sale, which means that they sell fast and most buyers miss out on even seeing them. or they end up competing in multiple buyer offers or sealed bid situations where they often end up

paying more for the property. This is all very time consuming, stressful and expensive. So to share some no cost tricks that will help you to find properties off market or pre-market in order to access up to 40% more properties, we're joined by professional property negotiator, Scott Agat, whose unique team at Hello House negotiate with selling agents on your behalf to secure your property at the best price. Welcome to Realty Talks, Scott. G'day, Bushy. How are you doing? Great, mate. Really good to have you on the show. As I've said many times, negotiation is a fundamental skill, not only in property, but in life. And it's really good to talk to someone

who's really niched into that area and focused on that as opposed to the general buyer's agent different community where you're offering something completely different. So looking to digging into the subject today, mate, and to kick that off, how can buyers avoid missing out on properties or competing for them and paying ever higher prices? Well, I think, Bushy, the first thing you need to do is really understand what you're going after, what you're trying to find. Is it a needle in a haystack? Does it exist commonly in the area that you want to look at? And really focusing on a very small area. I think that's a big mistake that buyers make to begin with is that look too scattergun across a wide area. So I would say focus on one to two suburbs

in a core marketplace. And then the trick to then understanding the prices that are being paid and the frequency of the assets being available that you want to buy is to gauge what the market depth is. So the value of properties that are selling at any given time. And you can do that by attending auctions and seeing what the real-time buyer depth is as well, which will give you an understanding of how many people you're going to compete against and where those prices might run. the other key thing you need to know before you start out really is the frequency as i said of how many assets like this come on the market so what's your fear of loss when it comes to negotiation time so bushy is it you know once every eight weeks that house the three bed in

that core market comes up or is it a dime a dozen and there's one every three weeks that's going to really determine how hard you have to go with a property and what your fear of loss may be in terms of losing that opportunity and how long it's going to take you to replicate it especially in a rising market, whereas you know, you miss an opportunity today, it's going up in some areas two, two and a half percent a month, it becomes a very expensive mistake. So to find properties off market, and to get to them first pre market or the true version of an off market, where they may not even be ready to sell yet, and you approach them or the agents approach them on your behalf is to build rapport with real estate agents. And to do that, it's repetition, really. So

I've basically created an easy cheat sheet for that, that I coach my clients and I use myself. And that's to analyze what you want, all the reasons that we've just discussed already, put that into a five to seven dot point list. So it might be mine might be Scott Agate, Mermaid Beach, a million bucks, got to be a knockdown, east of the easement and finance approved. That's my list. Everyone that's worth their salt in the agent game knows exactly what that looks like and where east of the easement is. I'm going to put a BCC list together with all the agents that sell those types of property in my marketplace. So go to the back end of real estate or domain, look in the sold section, collect that information, put that onto a

BCC, send it weekly to stay top of mind. And that's going to give you that repetition where you're just consistently staying in touch with the lead agents that are possibly going to have those listings. That's going to create you opportunity. And if you do that, we know up to 40% of properties sell pre or off market, and that's going to get you in front of the line. So you're going to lower the competition who you're competing against, and it's going to give you a wider choice, which means you're potentially going to buy better.

I love it, mate. The old squeaky wheel exercise and being top of mind with all the agents and the techniques you've just described there. What I love about them is they're actually quite simple to do, but no one does them. So I love the brilliance and the simplicity of that. Mate, how can buyers then build the rapport with agents you spoke about and stay top of mind to find these opportunities pre or off market? Yeah, well, the key is if you put together that list and you say consistent with it, you will get opportunities. This works at any price point nationwide. There's no silver bullet, which is, you know, in real estate. So there's no, you know, silver guarantee that this is going to happen, but it will give you a very good shot at doing it and it's free. But the trick is, and what a lot of buyers, you know,

make the mistake of once you've created those opportunities is either doing a couple of things, not turning up on time, not responding to the agents, not jumping when they give you these opportunities, or going through and seeing the property and not giving them the detailed buyer feedback that they need. There's two problems with that. One is you're not allowing the agent to do their job.

So you're not letting them push forward with that sales campaign. And you've really got to be looking at it through their eyes as to they're creating you an opportunity. They need this to move towards payday. So you're going to help them do that by giving them feedback. The benefit of doing that, of course, Bushy, is if you give them real-time accurate feedback, it's going to fine-tune what they're looking for

and give them a really accurate understanding of what you need to put your family into the next house. So I think if you can do those things, it's repetition, it's consistency. So staying in their face often, and then it's giving them real-time quality feedback that's going to help them do their job. You do those three things

and you're going to get some great opportunities. Yeah, I love it. Well, sort of moving back onto the buyer side then for a minute, what are some of the mistakes that buyers are making when they get these opportunities from local agents in addition to what you've just touched on? um i think you know agents will take those buyers very seriously that do the things that we've just discussed so if you don't follow through and do the do the work as i've just explained that's

going to make it difficult for an agent to take you serious going forward so if you don't turn up that time you don't give them the feedback you're not going to get a second opportunity and you won't get another bite of that cherry and that might be missing your dream property or having to join the queue and overpaying so i think you know you've got to realize that agents servicing a wide buyer pool it's not just you they might have 200 buyers at any given time trying to find the same thing so you've really got to stand out from the pack and if you do that I think you've got those really clear goals that's going to give you the best shot at getting that done the other thing is as well I think buyers really second guess themselves so you know I find

a lot of clients will come to me and they've been looking for too long and the reason is they've found the property but they just can't pull the trigger and it's because they don't understand the market value and they haven't committed that four to eight weeks to really understand what's happening in their marketplace. So that hurts you at the back end, Bushy, because you find people that are indecisive, they miss opportunities in a contract race, they don't pay that extra 10 or 20 grand because they're scared of doing that, not realizing that if they don't buy it, then it is going to take eight to 10 weeks and probably cost them 20 grand or 30 grand. So really understanding those clear goals and market value, I think that helps you at the back end as well. If you can then

move with speed through the buying process and make sure you knock out as many of your competitors by moving really fast. Yeah, love it. Yeah, great advice there, mate. Look, I feel like we only just touched the surface here and we'll make sure we'll get you back to dive into these subjects a bit more. But I just want to thank you for these awesome and timely tips, Scott, and thanks for your time on the show today. Thanks, Bushy. Take care. Thanks, mate. Well, it's clear that if you want to jump the queue and beat the crowds in order to save money and stress and time in finding and securing the limited number of properties that are available,

you need to work smarter, not harder. And one of the best ways to do this is to reach out to Scott and his unique property negotiator team at hellohouse.co. That's hello, H-E-L-L-O, house, the German way, H-A-U-S, dot C-O. Stay with us for more here on Realty Talk.

Well, that brings us to the end of this week's show. another big thanks to our special guests simon presley lloyd edge and scott agate and to make sure you don't miss an episode of australia's longest running and most popular online property show subscribe to realty talk now on apple podcast google podcast spotify youtube or wherever you listen and make sure you sign up on the realty.com.au home page to get every episode in your inbox every week and while you're there make sure you check out one of australia's most extensive range of properties for sale from over 7,000 agents nationally. Thanks again to realty.com.au and BMT Tax Depreciation for their ongoing support. I'm Bushy Martin from Know How Property

Finance and I look forward to seeing you again next week. Miss something in this week's show or want to catch up on past shows? Do it anytime at realty.com.au where we connect buyers, sellers and agents differently.