Before we jump in, I say that this property was not worth millions of dollars….It’s not. It was under $1.5M.
Frank and Silvia had been looking around for a property to buy; they’d been looking for over twelve months. They were frustrated, time poor, sick of being lied to, and missing out on properties. Spending thousands of dollars on reports for properties that they never really had the budget for. (The agent underquoted the likely selling price. When you need to navigate the Sydney market, this can be a common issue.)
Initially, Frank and Silvia were looking around Waterloo, Zetland and the surrounding suburbs. They wanted an apartment with outdoor areas where Silvia could lie in the sun and a place to entertain their friends.
We shortlisted a handful of properties for them, and some were not advertised to the general public. There was one property they fell in love with….Silvia had to have it…..We called the agent up and put in an offer on the property. We got a callback from the agent saying the property had sold…Silvia was so disappointed…. By the way, navigating the market in Sydney often means you must move quickly to secure your ideal home.
Then….A stunning property was available in Camperdown. They love Camperdown because they live close by. They didn’t think they would find something within their budget because they had been looking in this area for soooo long….
We arranged to view the property, and it was stunning! I had to remind Silvia not to get excited. She was like a little kid in a candy shop…It was a far better property than anything they had seen. OMG, the view of the City was stunning. The outdoor terrace was massive, and with a few cosmetic improvements, it was far more than they had dreamed of.
It was now our job to go in hard, negotiate on behalf of Silvia and Frank, and buy the property at the best price. With that breathtaking view and layout, our task was to continue helping them navigate Sydney’s market conditions.
We have been negotiating with property for over 30 years, so we have a system pretty well down pat. To be honest, I was so excited for them, I shared their joy, and it was great to be part of it. I started with a very low offer, which was refused. We slowly increased our offer, and although it wasn’t our client’s last dollar, I used an odd amount and said we would walk away if the owner did not accept the offer. (We still had a fair bit of money to play with).
We agreed on the price, and I had the pleasure of calling them to congratulate them. The excitement in their voices was priceless… until we found a technicality in the contract. This had gone from their new home to back on the street’s looking again…..I suggested we go back and offer a lower amount. We had secured the property at a good price; regardless, we had nothing to lose. After a few phone calls, I negotiated an additional $20,000 of the price I had already negotiated. In reality, to successfully navigate Sydney’s property market requires persistence and strong negotiation skills.
Suddenly, Silvia and Frank were both back in love with this property. They have lived in the property for around 6 months now, and they love it. The only regret they had was not engaging a buyer’s agent earlier.
If you’d like to have a confidential chat about how we may be able to help you, too. We’re a little bit different from the others; we only work with 3 buyers at any given time. We normally have a waiting list. Want to Know More…..Click below or call us on 1300 828 506 And above all, to navigate the Sydney market with confidence, the right advice can make all the difference.
