Did you win the property lotto? From the 1973 Slump to 2026 Peaks: Is History Repeating?
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How did the 1973 property slump affect the Australian market?
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Well, you've got plenty of experience here because buyer behaviour and competitive bidding trends, it is forcing buyers to rethink strategies and underscoring the demand for expert advocacy. And that's where you come in. But as I say, they're just not all the same. And you would see that in Sydney. You would hear the stories, know the people that shouldn't be doing it, but are.
Yeah, well, that's absolutely right. I think the buzzword of what are you going to be when you grow up is currently buyer's agent because I've been seeing them pop up like mushrooms. You're certainly right. They're not all made equal and there's quite a few of them that really should not be charging any buyers for the service that they're offering.
Yeah, there are these wide range of services as I talk about from boutique, personalised search and negotiations to fixed fee or premium concierge models. I think it's a little like the bees to the honeypot. There is so many big deals that are being made. And when people decide I'm going to become a buyer's agent, it becomes a sort of a no brainer.
What buyer strategies are emerging in today's competitive market?
Let's go to Sydney.
Yeah. Buyers sometimes fail to understand when it comes to selecting a buyer's agent. It's not just about them having a social media presence or a schmicker website. Those are not the reasons why you should be picking your buyer's agent. You should be picking your buyer's agent on their expertise. A buyer's agent should not be charging you money to practice their skills on your search, their negotiation skills on your house purchase, because you're going to be spending an enormous amount of money on the property itself. So you need a buyer's agent who understands the nuances of that local, the micro market, because Sydney, as you said, is made up of many different markets. understanding how the agents work as well, having those relationships in place so they can leverage those relationships to help the client understand, okay, well, this agent is a massive deal doer.
We need to be quick. Let's get you front and center. Let's get you ready to transact as soon as we get the green light from the agents, as opposed to other agents where you know they can't do a deal to save themselves and you have to wait till auction. A new buyer's agent or someone who has less than five years of experience simply should not be calling themselves an expert and certainly should not be let out on their own, claiming that they're going to help you buy better. And in most cases, these people are just really out just to line their own pockets.
Why is selecting the right buyer's agent crucial for homebuyers?
I've got to use this analogy. You might relate to this, Michelle, because part of the problem is they don't have the experience. They don't know a lot of the market trends in suburbs around Sydney. Now, years ago, I actually used to work in talkback radio. People would ring up and they'd be talking about something. A talkback host never knows everything. Of course they don't. And this is what I used to do, like any talkback person would do, is if you don't know the subject, you'd say, well, that's interesting. Why do you say that? And you get them to talk to you and then you kind of form an opinion by the time they have spoken enough about the subject and you can form something that you can give them back and
And I think this analogy, Michelle, is a little like some of these buyers agents. They don't know, they go in, they talk to these clients, potential clients, they ask them a ton of questions, and they're actually being informed by the people that are going to pay them.
Or in other cases, they end up following people like myself on social media and then replicate the information that I give to my audience and pretend it's their own. Yes, I see that all the time. And to be honest with you, it's a very scary thing for me in this industry because people are going to think that we are all the same.
How do property values compare across major Australian cities?
and we are not worth paying for and sharing our expertise with the clients. So I think as a buyer, it's very important that you do your research upfront and understand how long the buyer's agent has been a buyer's agent in that particular area.
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Chapters
8 chapters
1
How did the 1973 property slump affect the Australian market?
0:02–1:20
2
What buyer strategies are emerging in today's competitive market?
1:20–2:44
3
Why is selecting the right buyer's agent crucial for homebuyers?
2:44–4:09
4
How do property values compare across major Australian cities?
4:09–5:34
5
What factors contributed to the recent growth in the Adelaide property market?
5:34–6:59
6
How is the luxury market in Gold Coast evolving post-COVID?
6:59–8:19
7
What demographic changes are impacting property buying trends in Australia?
8:19–9:16
8
What predictions can we make for the Australian property market by 2026?
9:16–17:12
Speakers
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