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Last week, we received a letter at our office from the Real Estate Institute of New South Wales (the main trade association body for real estate agents in NSW). The letter was sent to all agents who have nominated themselves as ‘Buyers’ Agents’. Essentially, the REINSW is starting to crack down on agents who advertise […]
This property was sold for $1.168 million. The price guide quoted by the selling agent was 800-900k. What accounts for this variance? Depends on which scenario you subscribe to: Intense competition drove the property price significantly higher than expected. Agent was not local and therefore provided an inaccurate price guide. Agent was deliberately underquoting to attract […]
At an Auction today, a bid was made by the sole bidder at 1.6 million. This was swiftly followed by a Vendor Bid at 1.9 million. Needless to say, the property did not sell. This Auction is a classic example of when the seller and buyers are not on the same page. The seller is […]
In a couple of our recent blog posts, we have noted the trend of chronic underquoting by some agents in Sydney. As this news article explains, the State of Victoria is currently working to stamp this out. Victorian home sellers could be forced to publish their reserve price under proposals discussed in June to stamp out underquoting. The Real […]
Many properties which are for sale by Auction are not advertised with a price guide. However, usually when a buyer calls or asks the agent at the Open for Inspection, the agent will suggest a price range or at the very least give a sheet of recent sales in the area as comparables. There are […]
Two Auctions in Chatswood today saw huge crowd turnout and strong sale prices. 16 Johnson Street in Chatswood (4br/1ba/1ga) was sold at Auction today. During the marketing campaign, the quoted price guide was “over 1.2 million”. With nearly 150 people watching (see photo) and 14 registered bidders, the property was sold under the hammer for 1.426 million. […]
The comments below were published on Talking Property with Domain.com.au in response to a blog posting “Price Discounting” by Louis Christopher. ———- Just 2 points to make based on my observation of the market as a buyers’ agent: In the above 1.5 million market, there are many sellers listing quietly at the moment because they are testing the market and […]
In the past couple of months, we have noticed a disturbing re-emerging trend of several agents in the North Shore under-quoting significantly as a strategy to attract buyers. Aside from this being an unethical and illegal practice, we actually feel that this is not necessarily a good strategy for the seller or their agent in the long run […]
One of our Buyers’ Agents inspected 15 properties today in Ryde, Epping, Eastwood, Chatswood, Lindfield, Killara and Gordon. This is a summary of what things are really like ‘out there’: Under $1 million: Open inspections are absolutely crowded. Literally there is a line of people waiting to enter the properties. Often properties are significantly underquoted […]
The comments below were published on Talking Property with Domain.com.au in response to a blog posting “3 surefire ways to secure a property bargain” by Alex Brooks. ———- Alex, I definitely agree with you that fair value is hard to pin down. As Buyers’ Agents, my colleagues and I come across this ‘hunt for a bargain’ mentality quite regularly. However, […]
Published in Geared for Growth on October 10, 2022
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Henny and Oliver moved quickly to help us to secure the property at a great price. This was before the house has even been listed for sale. I have no doubt that it would have sold for a much higher price had it been put on the market.
They proved themselves spot on with their estimates of the expected sales prices of properties we viewed.
Oliver is a person with high integrity who always has the client’s best interest as a priority.
Your knowledge and expertise in what you do is incredible and the enthusiasm in which you put into your work is so evident in everything you do.
We felt like we were on the winning team from the time we called them. I just wish we had done it earlier!
It was like watching a chess game unfold and Henny was able to think several steps ahead and take control of the negotiation process. It was nice to be in the driver’s seat for a change.
Having a buyers’ agent represent us at auctions helped relieve a lot of our stress. It was great to finally have an upper hand at an auction situation for we had the best people working for us.
The property we ended up buying had 17 contracts out on the first open house inspection. Henny knew how to get us to the finish line by positioning us correctly and having an open communication with the real estate agent.
We have bought three other properties on our own before. However, compared to our past purchase experiences, this time it was so much easier.
We were advised to let the Auction for our new house pass-in and in the end, we acquired the property for $165,000 below the Vendor’s Bid at auction. This savings means the Buyers’ Agent fees essentially paid for themselves multiple times over.
In an industry rife with ethically challenged real estate agents it has been a real relief to have a buyer’s agent who possesses such a strong sense of ethics.
OH Property Group was proactive, efficient, and always available during each step of the buying process. During our search we never felt rushed in making any irrational decisions and were able to digest all information in our own time.
Oliver was thorough, considered, and he took time to understand our situation and tailored his approach accordingly.
OH Property Group’s professionalism and tireless work ethic achieved the impossible in an impossible time frame. Without their help, I wouldn’t have even looked at the property I ended up buying.
We were very impressed by their dedication, excellent service and attention to detail. Their expertise and advice are invaluable and gave us great comfort to know that one of our biggest financial purchases was a sensible one.
Watching Oliver strategize throughout the process was like watching a beautiful piece of art – he made so many moves which ultimately resulted in significant savings for us, not to mention a very smooth and relaxed process.
To think that we could have bought an ill fitting house for too much money and with possible regret, it’s really made us feel relieved that we have used your services to find the perfect house for us and at good value too.
Without their help it is unlikely that we would have even inspected the apartment we bought, and not only does it meet all our needs but the purchase price was at the lower end of our budget.
We are truly happy with our new home. We were able to get a better price than if we had acted alone. OH Property Group’s professionalism and experienced negotiation tactics really landed us with the best outcome.
More than making sure we were paying a fair price, Henny and Oliver asked us the right questions to understand what we valued in a property as a couple. They also took into consideration the stage of life we are in and our plans for the future.
We found the experience of using a buyers’ agent to be very liberating. It took a load off our minds. It was definitely money well spent and we would definitely recommend your services to others!
It was a big weight off our shoulders to know that an experienced agent was bidding on our behalf at the auction which minimised the stress of the day. We feel very satisfied that we have made a good investment in a great area.
Our Buyers’ Agent took away all the guesswork, did all the investigation and due diligence and presented us with everything we needed to know in order to make a well informed decision.
Oliver represented us at the Auction, let it pass in and then negotiated a price much lower than what we had been willing to pay.
I feel that Oliver and Henny were completely honest and open, working with only my best interests at hand.
The negotiation process was handled in a highly skilled, efficient and impressive manner and the property secured at the right price within a matter of days despite the competition.
From the moment we started working with Henny, her dedication to her clients became clear. We always found her to be incredibly insightful, thorough and trustworthy. In all things, she truly went above and beyond for us.
You reacted quickly at any time of the day to my requests for further information and appraisal and I believe that you understood my needs and could be trusted to provide reliable information.
Our Buyers Agents were able to provide important advice about the manner in which we should communicate with the Vendor in order to make an offer on the property clearly and confidently – despite our offering well below the asking price.
Once the search started, we were really impressed by the frequency and quality of the communication, as well as the responsiveness to any questions we had.
