podcast

How to pay less for your next property

By Staff Reporter
gavin mcpherson
0

Gavin McPherson Director Oasis Property

 {{youtube id="bouOE691tS0"}}

The most common mistakes people make when negotiating on sales price I would argue comes from the position that they talk too much. And one of the biggest rules that I've always had and followed which is from a gentleman called Roger Dawson, who's one of the worlds best negotiators, and he comes from a period that "He who has the most information wins". So I suggest from the first position - listen a lot more than you talk. So that's my first point. Secondly, don't attend auctions. Auctions is not a position where you can actually negotiate at all. It's all in the hands of the seller. So I would argue try and make sure that you try and negotiate from a position of a property that's either off market or a property that's on a private treaty. Second to that, and actually maybe as a prelude to that, any property you see my biggest tip for people that are trying to negotiate a property is to see it earlier. The earlier you see the property, the better chance you've got. Now moving on from that. Once you're actually in the property and you're talking turkey with an agent - my advice is to ensure and insist that you're not giving away any more information than you need to. Stay unemotional and go from there.

Listen to other instalments of The Smart Property Investment Show:
Episode 60: The pros of using a buyer's agent: why this investor brought someone in
Episode 59: How to invest in property as a team: two investors share their secrets
Episode 58: When do you stop investing? The SPI Show answers more listener questions
Episode 57: Wealth creation through property: trends and themes to think about in 2017
Episode 56: The SPI Show accountant reveals all: How to pick your financial team
Episode 55: The reluctant property investor: How necessity drove an 18-property portfolio
Episode 54: The SPI Show Q&A: Listener questions answered honestly
Episode 53: 6 properties in 2 years: how this investor is achieving his goals
Episode 52: Will property prices fall? When? And by how much? What investors need to know
Episode 51: SPECIAL EPISODE: SPI team reveals all the financial details of its portfolio
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
FAIRLIGHT 46.02%
2.
CASUARINA 44.36%
3.
THE ENTRANCE NORTH 41.09%
4.
ULTIMO 40.67%
5.
LAVENDER BAY 40.2%