podcast

How to pay less for your next property

By Staff Reporter
gavin mcpherson

Gavin McPherson Director Oasis Property

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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 89: Renovating as a couple: two young investors share their story
Episode 88: Everything you want to know about the short-term rental market revealed
Episode 87: BONUS EPISODE: Former Olympian shares his property development know-how
Episode 86: How a former Olympian found new sport in property development: Ed Fernon's success story
Episode 85: Q&A session with Paul Glossop – more questions answered!
Episode 84: 'How I overcame dodgy builders to manufacture $100k in equity in less than a month'
Episode 83: BONUS EPISODE: Top Aussie broker’s tips for surviving changes to mortgage lending
Episode 82: The investment strategy that could allow this 32-year-old to retire TODAY
Episode 81: BONUS EPISODE: Secrets of the Perth market uncovered: invest now or wait?
Episode 80: Q&A session: SPI answers all your burning questions
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