7 Top Reasons Why Property Buyer’s Get It Wrong?

Property Buyer - Paul Mulligan Property Group

They Don’t Understand the Market
In Real Estate there are many markets within a market.  For example, the Sydney Property Market is not one marketplace.  What is happening in the suburb you are looking at and the suburb next door can be $10,000’s of dollars. The same goes for inner city and outer city suburbs.

They Buy the Wrong Property
Buying a property is not so simple (It’s not your fault, you don’t buy every week like we do, and you are certainly not alone). there needs to be due diligence taken in every step of the process.  We speak to dozens of people week in week who are buying the wrong property!  Avoid making poor and quick decisions, get professional help.

The Salesperson
How many time have you heard selling agents saying things like “this area is going up in value quickly”, “this property will be worth xyz in 2 years’ time”, “there is another buyer”, “if you wait to tomorrow you will miss out”.  It goes on and on.  Unfortunately, property buyers just like you are naïve, they lack the experience and they believe the sales agent.  The selling agent represents the seller.  Don’t risk it get an experienced buyer’s agent on your side.

Did You Know Over 70% Of Property Buyers in the USA Engage a Buyer’s Agent to represent them?

They Are Fed up
As Buyer’s Agents we get a lot of calls from what we refer to as “Fed Up Buyers”.  The fed-up buyer has been looking for their dream property or investment for 6 months+, they’ve been to every open for inspection, searched hours online, put offers in on properties and lost money.  Being a fed-up buyer can be dangerous and costly. They are exhausted!  Often a fed-up buyer will pay too much for a property and buy the wrong property.  Yes, they’ll settle for something less.  Don’t become a fed-up buyer, reach out for help.

They Listen to The Wrong People
Buying a property can be a very emotional and stressful experience.  There are so many people out there such as our family and friends who want to protect us!  Its completely understandable.  They don’t want us to make the wrong decision.  The problem is these loved ones are not professional property buyers.  You could miss out on that dream home or buy the nightmare property.  Think with your head and not your heart.  Does it feel right?  Is it too good to be true? Is what my friends and family telling me a fear of theirs?  What experience do they have with buying a property?  The answer is generally they either don’t own a property or they bought one many years ago.

“Think with Your Head and Not Your Heart”

They Think They’ll Save Money
Often when we speak to prospective clients if we haven’t explained to the prospect well enough how we can help them they think it’s expensive to engage a buyer’s agent.  The problem is too many inexperienced buyer’s focus on what an expert can cost them and not what they can save them.  EVERY client we have worked with has either saved $100,000’s of dollars by advising them not to proceed with buying the property they think is the best and/or we save them $10,000’s of dollars by negotiating the best possible price.  It’s expensive not to engage a professional.

They Don’t Know How
Buying a property involves skill, knowing what to research, how to research, where to research etc.  They don’t have access to the data that is available to industry experts, they make costly mistakes by not checking with Council if there is anything likely to significantly affect the property that they are looking at buying!  YES, it happens all too often.  Don’t think it will never happen to you!

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