3 STEPS TO SUCCEED AT YOUR NEXT AUCTION
INTRODUCTION Hi there bidder.
Hyde Burchell Buyers Agents level 9, 2 Phillip Law Street New Acton 02 6243 3661
CONCLUSION This is just the beginning.
Welcome to "20 Questions to Ask at an Open Home," a valuable resource designed to help you make the most of your time when viewing potential properties. Attending open homes is an exciting step in your property journey, but it can also be overwhelming. There is more to it than just looking at the house and this guide aims to provide you with a structured approach, ensuring you gather all the essential information you need to make informed decisions. By asking the right questions, you can uncover details that might not be immediately obvious and gain deeper insights into the property’s true value along with important information that will help you angle future negotiations to your advantage.
INTRODUCTION Hi there bidder.
Understanding the Canberra Property Market First things first: let’s talk about the Canberra property market. As a city, Canberra offers a wide range of properties, from sleek apartments in the city center to spacious homes in family-friendly suburbs like Belconnen, Woden, or Tuggeranong. In recent years, Canberra’s property prices have been on the rise, but compared to cities like Sydney or Melbourne, it still offers relatively more affordable options, especially if you’re willing to look at up-and-coming suburbs. The key is setting a realistic budget and knowing where you want to live. With a strong economy, a thriving job market (hello, government work!), and low interest rates, now might be the perfect time to make the leap from renting to owning.
What If You Don’t Use a Buyers Agent? Technically, you can buy a home without a buyers agent — but it’s a little like going to court without a lawyer. You’re dealing with contracts, negotiations, inspections, and a six-figure investment. Also, if you go straight to the listing agent, they represent the seller, not you. They may be friendly and helpful, but their job is to get the best deal for the seller, not for you. In most cases, having a buyers agent saves you more than it cost you in time, stress, and money in the long run. Buyers agents typically charge either a fixed fee or a percentage of the purchase price, this will vary depending on the length and breadth of experience of the agents in the industry and in the Canberra property market. The percentage based model will have agencies charging between 1% & 3% of the purchase price usually with an upfront engagement fee paid at the commencement of the search with the remainder paid upon exchange of contracts on the property. Some agencies like ours, Hyde Burchell Buyers Agents, charge a flat fee that varies depending on the service that best suits your needs and budget. In the past we have swayed between a fixed or percentage model but we find that our clients prefer to know what the total cost will be regardless of the end purchase price of the property. With a fixed fee, they know our intention is to always find the most suitable property and not the most expensive one. Some important factors to consider when choosing a buyers agent and considering the fees against other agencies are. Is the buyers agency totally independent and not part of a selling agency or development company Do the buyers agents work fulltime in the industry and have a bricks and mortar office that you could visit if you chose to? Does your buyers agent use the latest technology and software so that the process is as seamless as possible? Has your buyers agent just finished an online course and is now dabbling in the real estate space part time to earn some extra income or are they a seasoned professional? Is your buyers agent based in Canberra and not working behind a laptop from another part of Australia and directing you to properties based on data alone and not local knowledge? Hyde Burchell Buyers agents offer fixed fee prices for a variety of services including downsizers, auction bidding, investors and first time buyers.
