Amy Lunardi

speaker

1,235 appearances 4 recordings 1 series first heard May 2020 last heard Dec 2022

Amy Lunardi’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Buying property? 10 expert tips for first home buyers in 2021 · 7 Jun 2021 podcast

someone triggers an offer prior to auction and the agent would rather do a best and highest than do more of a transparent method.

So what this means is that each buyer gets to put in one offer.

Sometimes they'll have a second chance, sometimes they won't, but the offers aren't disclosed to anyone else.

So you don't know if you've put in

$1,000 more than someone else or $100,000 more.

And it can be a really, really, really stressful situation because it's just not transparent.

So buyers feel really uncomfortable.

And what I often see in these situations is they really start to doubt themselves because they don't know where the other buyers are at.

So in these situations,

my best advice here is to come back to your own numbers.

So when I'm helping clients formulate an offer, I help them figure out how much that property is worth based on historical sales, how much it's probably going to get to based on the current market.

So that is what the demand is like, the other properties that are competing against it, but then also what it's worth to that client.

And that could be higher or lower than the market value, depending on how

many boxes it ticks, how long they've been looking and so forth.

And then we figure out what our personal value number is.

And that's what we stick to.

So regardless of what the other buyers do, that's out of our control.

Whether we pay 10 grand more or $500 more than someone else becomes irrelevant because it's what we value that property at.

Now, the second part of this tip is also understanding how to frame your offer in the best way possible.

And that is having as minimal conditions as you can, because if there's other offers that are unconditional, then you want to be competing against them.

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