1 00:00:00,160 --> 00:00:01,880 Speaker 1: Astra jorder. Well, the probably Insights. 2 00:00:01,920 --> 00:00:03,640 Speaker 2: Thank you for having me. Are you having me back? 3 00:00:03,960 --> 00:00:07,440 Speaker 1: You're welcome and now you're an associate director bought Agency. 4 00:00:07,440 --> 00:00:12,559 Speaker 1: We're talking about a buyers agent becoming ever so popular, crazy, 5 00:00:12,640 --> 00:00:14,880 Speaker 1: how important buyers agents all of a sudden becoming like 6 00:00:14,960 --> 00:00:20,520 Speaker 1: literally over a couple of years, they've become accepted by buyers, 7 00:00:20,520 --> 00:00:22,680 Speaker 1: I guess, and also I guess vendors for that matter, 8 00:00:24,040 --> 00:00:27,920 Speaker 1: And I have to say also vendors agents, those the 9 00:00:27,960 --> 00:00:31,160 Speaker 1: agents who act for the vendors probably aren't pushing against 10 00:00:31,240 --> 00:00:31,960 Speaker 1: you guys either. 11 00:00:32,280 --> 00:00:36,440 Speaker 3: No not us can't speak on behalf of every single 12 00:00:36,440 --> 00:00:39,880 Speaker 3: buyers agent that's out there, but I mean bi anchor 13 00:00:39,960 --> 00:00:43,000 Speaker 3: and I in fact wrong. Within our company, we're all 14 00:00:43,040 --> 00:00:43,960 Speaker 3: excelling agents. 15 00:00:44,400 --> 00:00:47,680 Speaker 1: So you're formerly were on the other side of the transaction, 16 00:00:47,800 --> 00:00:48,720 Speaker 1: acting for the vendor. 17 00:00:48,840 --> 00:00:50,960 Speaker 3: I was so for about I was a selling agent 18 00:00:51,240 --> 00:00:56,160 Speaker 3: various degrees, verious capacities for about ten years, started in 19 00:00:56,240 --> 00:00:58,400 Speaker 3: the east and moved across the inner West, but sold 20 00:00:58,400 --> 00:01:01,840 Speaker 3: properties across eastern suburb, in a city and in a west. 21 00:01:02,080 --> 00:01:04,600 Speaker 1: So why did you change from being a vendors agent 22 00:01:04,640 --> 00:01:05,640 Speaker 1: to a buyer's agent. 23 00:01:07,000 --> 00:01:10,840 Speaker 3: I've given this a lot of thought because this was 24 00:01:11,000 --> 00:01:13,520 Speaker 3: an important decision for me. It was an important decision 25 00:01:13,560 --> 00:01:18,040 Speaker 3: for me to make. I loved selling, and I loved 26 00:01:18,040 --> 00:01:22,080 Speaker 3: the strategy and the human component behind it. I loved 27 00:01:22,200 --> 00:01:25,920 Speaker 3: building relationships with my vendors with the buyers as well, 28 00:01:26,440 --> 00:01:30,160 Speaker 3: and I really focused on developing the rapport with both 29 00:01:30,200 --> 00:01:32,040 Speaker 3: sides of the coins, of the buyers and the sellers. 30 00:01:32,080 --> 00:01:34,399 Speaker 3: But one of the things that I found probably the 31 00:01:34,440 --> 00:01:38,360 Speaker 3: most rewarding was that rapport and the nurturing and the 32 00:01:38,360 --> 00:01:41,480 Speaker 3: trusts that I built with the buyers. And there was 33 00:01:41,520 --> 00:01:45,600 Speaker 3: a reason for that. It wasn't just wasted energy. Building 34 00:01:45,640 --> 00:01:48,680 Speaker 3: that rapport and the trust with those buyers allowed them 35 00:01:48,720 --> 00:01:51,040 Speaker 3: to feel more safe and more trusting of me as 36 00:01:51,040 --> 00:01:54,520 Speaker 3: a seller's agent, which is quite difficult, and in turn 37 00:01:54,800 --> 00:01:56,760 Speaker 3: ended up getting a better outcome for the seller. Now, 38 00:01:56,760 --> 00:01:59,960 Speaker 3: that was the holistic that was the reason holistic reason 39 00:02:00,120 --> 00:02:03,360 Speaker 3: I did that, and I invested that energy. But what 40 00:02:03,480 --> 00:02:08,240 Speaker 3: I actually realized, probably not consciously, more subconsciously, was that 41 00:02:08,520 --> 00:02:11,160 Speaker 3: I probably found that the most rewarding part of the transaction, 42 00:02:12,919 --> 00:02:15,000 Speaker 3: that trust that was built and the effect that it 43 00:02:15,040 --> 00:02:17,440 Speaker 3: had and the difference that it made to those buyers' lives. 44 00:02:17,600 --> 00:02:19,680 Speaker 3: But I was still very happy selling. I loved it. 45 00:02:19,720 --> 00:02:21,640 Speaker 3: As I said, I love the strategy component of it. 46 00:02:22,040 --> 00:02:25,000 Speaker 3: I never imagined doing anything else. For me, real estate 47 00:02:25,160 --> 00:02:27,840 Speaker 3: was my life and I had no plans to do 48 00:02:27,840 --> 00:02:32,880 Speaker 3: anything different. And then I met the wonderful Bianca Field. 49 00:02:33,160 --> 00:02:36,960 Speaker 3: She joined Ray White Eskinville, Surrey Hills, which is where 50 00:02:37,000 --> 00:02:37,640 Speaker 3: I was working. 51 00:02:38,400 --> 00:02:40,359 Speaker 2: After me, I left and came back. 52 00:02:40,400 --> 00:02:44,240 Speaker 3: That's a whole different, different story, but we met, we 53 00:02:44,320 --> 00:02:47,480 Speaker 3: became fast friends, and i'd say after about a year 54 00:02:47,480 --> 00:02:49,840 Speaker 3: and a half of being back at that office and 55 00:02:49,880 --> 00:02:54,160 Speaker 3: having known Bianca, she took the incredibly brave and massively 56 00:02:54,400 --> 00:02:56,880 Speaker 3: to go out and start her own buyers agency. She'd 57 00:02:56,919 --> 00:02:59,560 Speaker 3: never been a buyer's agent before. She was an incredible 58 00:02:59,560 --> 00:03:04,200 Speaker 3: selling agent and she started that business and within the 59 00:03:04,240 --> 00:03:07,280 Speaker 3: space of about a few months. Being a friend, I 60 00:03:07,280 --> 00:03:09,520 Speaker 3: was obviously keeping reckless tabs on everything, and we were 61 00:03:09,560 --> 00:03:13,000 Speaker 3: talking a lot about it, and she started that business 62 00:03:13,000 --> 00:03:16,880 Speaker 3: and it just completely took off, and we talk about it, 63 00:03:16,960 --> 00:03:20,680 Speaker 3: and she never i would say, actively recruited me, but 64 00:03:21,600 --> 00:03:24,920 Speaker 3: seeing how rewarding it was for her, seeing how the 65 00:03:24,960 --> 00:03:28,840 Speaker 3: business was growing. When the conversation did come up about 66 00:03:28,840 --> 00:03:31,640 Speaker 3: coming on board, and I did give it a huge 67 00:03:31,639 --> 00:03:33,960 Speaker 3: amount of thought, and I realized that one of the 68 00:03:34,040 --> 00:03:36,520 Speaker 3: huge components that I loved about my job, and that 69 00:03:36,680 --> 00:03:40,360 Speaker 3: was the nurturing. And I guess, well, the strategy and 70 00:03:40,400 --> 00:03:43,720 Speaker 3: the nurturing of the buyers and that rewarding component of 71 00:03:43,760 --> 00:03:47,040 Speaker 3: it really gave it a lot of thought, and I thought, 72 00:03:47,600 --> 00:03:49,480 Speaker 3: I can now get to focus on that solely. 73 00:03:49,520 --> 00:03:50,720 Speaker 2: I don't have to lose the strategy. 74 00:03:50,720 --> 00:03:52,640 Speaker 3: I don't have to lose a problem solving aspect, which 75 00:03:52,640 --> 00:03:55,360 Speaker 3: again I loved, and so I joined on with her. 76 00:03:55,480 --> 00:03:57,680 Speaker 2: I'd say it would be about oh gosh. 77 00:03:57,640 --> 00:04:00,680 Speaker 3: Almost it'll be two years ago in May, and I 78 00:04:00,760 --> 00:04:04,560 Speaker 3: have to say, best decision I ever made, and I'm 79 00:04:04,760 --> 00:04:06,560 Speaker 3: absolutely in love with it. 80 00:04:06,640 --> 00:04:08,080 Speaker 2: I'm having such a good tent. 81 00:04:08,160 --> 00:04:11,040 Speaker 1: Explain the difference between the dynamics of a vendor's agent. 82 00:04:12,760 --> 00:04:14,680 Speaker 1: I guess you don't need to speak for yourself, but 83 00:04:14,720 --> 00:04:17,400 Speaker 1: a vendor's agent. What's the dynamic between you and the 84 00:04:17,480 --> 00:04:21,800 Speaker 1: vendor client compared to say, the dynamic between you and 85 00:04:21,920 --> 00:04:23,839 Speaker 1: the buyer when you were acting as a buyer's agent. 86 00:04:23,839 --> 00:04:25,919 Speaker 1: What are the differences in the vibe? You know? How 87 00:04:25,960 --> 00:04:26,440 Speaker 1: does it work? 88 00:04:26,920 --> 00:04:31,320 Speaker 3: It's yeah, it's a very good question. The a vendor 89 00:04:31,480 --> 00:04:34,919 Speaker 3: needs a selling agent. And I don't mean that in 90 00:04:34,960 --> 00:04:37,159 Speaker 3: a sense that I didn't feel appreciated or needed or 91 00:04:37,160 --> 00:04:39,560 Speaker 3: wanted or anything like that. But you know, a lot 92 00:04:39,600 --> 00:04:42,359 Speaker 3: of the time when you start representing a vendor, and 93 00:04:42,400 --> 00:04:44,400 Speaker 3: I think a lot of selling agents can probably agree 94 00:04:44,400 --> 00:04:46,680 Speaker 3: with me that, you know, there's still a lot of pushback, 95 00:04:46,839 --> 00:04:49,160 Speaker 3: and they might trust you, and they might have selected 96 00:04:49,160 --> 00:04:52,440 Speaker 3: you to sell their property. But I almost I almost 97 00:04:52,480 --> 00:04:54,680 Speaker 3: felt like in some instances, you know, they didn't fully 98 00:04:54,680 --> 00:04:57,160 Speaker 3: disclose all the they didn't you didn't feel like their 99 00:04:57,200 --> 00:05:00,280 Speaker 3: trust was solely placed in your hands. It was was 100 00:05:00,400 --> 00:05:04,120 Speaker 3: a sometimes an uphill battle to get them to take 101 00:05:04,120 --> 00:05:06,840 Speaker 3: on feedback. And again this wasn't every owner. It was 102 00:05:07,600 --> 00:05:09,760 Speaker 3: I felt like when I was a selling agent, it 103 00:05:09,880 --> 00:05:14,320 Speaker 3: was a job and it was a task to do. 104 00:05:14,400 --> 00:05:18,200 Speaker 3: I was, I was representing the seller. But when it 105 00:05:18,240 --> 00:05:20,800 Speaker 3: got to the end of the transaction and the property 106 00:05:20,839 --> 00:05:22,680 Speaker 3: was sold, yes, there was a lot of gratitude there, 107 00:05:22,720 --> 00:05:26,440 Speaker 3: and you know, it certainly felt incredibly rewarding. But what 108 00:05:26,600 --> 00:05:30,440 Speaker 3: I realized was the buyer nurturing that I was talking 109 00:05:30,480 --> 00:05:32,320 Speaker 3: about that I did to get you know, obviously, as 110 00:05:32,320 --> 00:05:35,159 Speaker 3: many buyers there to the option or up to the 111 00:05:35,240 --> 00:05:38,680 Speaker 3: stage where a production off was made, the gratitude from 112 00:05:38,680 --> 00:05:41,320 Speaker 3: the buyers and how much it actually changed their lives, 113 00:05:41,360 --> 00:05:43,560 Speaker 3: the amount of competition that they were going up against, 114 00:05:43,600 --> 00:05:46,440 Speaker 3: and when they were successful it was I mean, I 115 00:05:46,560 --> 00:05:48,279 Speaker 3: got both ends of the stick, but it was it 116 00:05:48,320 --> 00:05:49,440 Speaker 3: was incredibly rewarding. 117 00:05:49,920 --> 00:05:52,080 Speaker 2: And what I find. 118 00:05:51,880 --> 00:05:54,120 Speaker 3: Now in the role that I do, or the role 119 00:05:54,160 --> 00:05:59,240 Speaker 3: that we do, is the completely all encompassing trust that 120 00:05:59,240 --> 00:06:01,440 Speaker 3: the buyer puts in you once they make that decision 121 00:06:01,480 --> 00:06:03,560 Speaker 3: to use a buyer's agent, because not every You're saying 122 00:06:03,600 --> 00:06:06,400 Speaker 3: it's a more accepted profession, and it certainly is, and 123 00:06:06,480 --> 00:06:09,000 Speaker 3: there are more buyers taking up buyers agents, not only 124 00:06:09,040 --> 00:06:11,840 Speaker 3: in the luxury property space, but in the first home 125 00:06:11,839 --> 00:06:14,880 Speaker 3: buyers market and the upsizing, downsizing, you know, you name it. 126 00:06:15,480 --> 00:06:19,400 Speaker 3: And by the time a buyer or a prospective client 127 00:06:19,440 --> 00:06:21,440 Speaker 3: gets the stage of making the decision to use a 128 00:06:21,440 --> 00:06:25,880 Speaker 3: buyer's agent, they are at the point of Okay, this 129 00:06:26,040 --> 00:06:28,000 Speaker 3: is it. They're making a commitment and it's one they 130 00:06:28,040 --> 00:06:30,599 Speaker 3: know they don't have to make, but when they do it, 131 00:06:30,680 --> 00:06:35,280 Speaker 3: they're all in and I've just had the most wonderful 132 00:06:35,520 --> 00:06:39,600 Speaker 3: and incredibly I keep using the word rewarding, but it's. 133 00:06:39,240 --> 00:06:40,040 Speaker 2: There for a reason. 134 00:06:40,279 --> 00:06:43,280 Speaker 3: Relationships with the clients that we have now and they 135 00:06:43,320 --> 00:06:47,560 Speaker 3: become almost like friends. And it's a relationship. If you 136 00:06:47,560 --> 00:06:49,440 Speaker 3: look after a vendor and if you do a good job, 137 00:06:49,520 --> 00:06:51,960 Speaker 3: then hopefully they will choose to sell with you again. 138 00:06:52,360 --> 00:06:54,080 Speaker 3: But I would say a majority of our business is 139 00:06:54,120 --> 00:06:56,560 Speaker 3: repeat and referral. All of the clients that we get, 140 00:06:56,560 --> 00:06:59,920 Speaker 3: all majority of them are from past clients who have 141 00:07:00,640 --> 00:07:03,119 Speaker 3: had a wonderful experience and told all of their friends 142 00:07:03,120 --> 00:07:07,200 Speaker 3: about it. And it's I don't know, the relationship component 143 00:07:07,279 --> 00:07:11,280 Speaker 3: is incredibly strong. I just yeah, it's it's I felt 144 00:07:11,280 --> 00:07:14,920 Speaker 3: like I got more back. Not to say that, you know, 145 00:07:15,080 --> 00:07:17,320 Speaker 3: that's the reason why you do the job, but the 146 00:07:17,840 --> 00:07:21,880 Speaker 3: strategy and the problem solving component aside. Yeah, I just 147 00:07:22,160 --> 00:07:24,400 Speaker 3: I find that I use the word rewarding again. 148 00:07:24,480 --> 00:07:25,360 Speaker 2: It's it's it is. 149 00:07:25,520 --> 00:07:30,200 Speaker 1: But when you're dealing with a you know, I guess 150 00:07:30,600 --> 00:07:32,960 Speaker 1: vendor comes in. The vendor knows what price they want 151 00:07:34,720 --> 00:07:38,000 Speaker 1: and it's very transactional and they expect you to find advertising, 152 00:07:38,040 --> 00:07:39,440 Speaker 1: five buyers and all that sort of stuff look into 153 00:07:39,480 --> 00:07:43,320 Speaker 1: your list. But when you're dealing with a buyer, you 154 00:07:43,400 --> 00:07:46,320 Speaker 1: mentioned the relationship is rewarding to you, But what is 155 00:07:46,360 --> 00:07:49,880 Speaker 1: it that you will give to them? What is the 156 00:07:50,000 --> 00:07:53,680 Speaker 1: value that you, as a as an agent, a buyer's agent, 157 00:07:53,840 --> 00:07:57,120 Speaker 1: give to the buyer. So just give you some examples. 158 00:07:57,160 --> 00:07:58,880 Speaker 1: What do you deliver it? If I'm a buyer and 159 00:07:58,880 --> 00:08:02,760 Speaker 1: I'm looking to buy a property investment ratherwise, what are 160 00:08:02,760 --> 00:08:04,160 Speaker 1: you offering me? What are you going to do for 161 00:08:04,200 --> 00:08:05,920 Speaker 1: me that I can't do myself? 162 00:08:06,160 --> 00:08:08,480 Speaker 3: No, that's I mean, that's a question we get every 163 00:08:08,480 --> 00:08:10,800 Speaker 3: single time we meet with a prospective client or we're 164 00:08:10,840 --> 00:08:14,800 Speaker 3: speaking with buyers. You know, what's the benefit of you know, 165 00:08:14,880 --> 00:08:18,280 Speaker 3: paying a fee essentially to have someone do what a 166 00:08:18,280 --> 00:08:20,200 Speaker 3: lot of people think they can do their themselves, and 167 00:08:20,240 --> 00:08:23,480 Speaker 3: they can. We never say that a buyer can't buy 168 00:08:23,480 --> 00:08:26,120 Speaker 3: something on their own. What we say is we give 169 00:08:26,120 --> 00:08:28,840 Speaker 3: you an unfair advantage, and with the amount of competition 170 00:08:28,920 --> 00:08:32,840 Speaker 3: that's out there at the moment, it's I would say 171 00:08:32,880 --> 00:08:35,640 Speaker 3: that a majority of properties that are purchased by buyers. 172 00:08:36,040 --> 00:08:38,439 Speaker 3: I'm not saying it's all luck, but I've seen people 173 00:08:38,520 --> 00:08:42,840 Speaker 3: do years, years of research, months of research, and they 174 00:08:43,000 --> 00:08:47,960 Speaker 3: continuously miss out the way that we assist buyers or 175 00:08:47,960 --> 00:08:49,680 Speaker 3: the way that we get them to a point where 176 00:08:49,679 --> 00:08:53,079 Speaker 3: they buy quicker, they buy properties for a better price, 177 00:08:53,200 --> 00:08:55,199 Speaker 3: or they are introduced to properties that they would never 178 00:08:55,200 --> 00:08:59,080 Speaker 3: have seen before. Is that there's multiple components to it. 179 00:08:59,120 --> 00:09:02,560 Speaker 3: But essentially, on the psychological the emotional side of it, 180 00:09:02,640 --> 00:09:04,959 Speaker 3: we are guiding them through the process. We're holding their 181 00:09:04,960 --> 00:09:08,280 Speaker 3: hand where someone for them to talk to, share their concerns, 182 00:09:08,360 --> 00:09:10,439 Speaker 3: and you know whether or not they are making the 183 00:09:10,520 --> 00:09:12,400 Speaker 3: right decision or whether the property they want to buy 184 00:09:12,480 --> 00:09:14,920 Speaker 3: is the right one. That's a small but important component 185 00:09:14,960 --> 00:09:18,880 Speaker 3: of it. The other component is introducing property properties that 186 00:09:18,880 --> 00:09:21,360 Speaker 3: they wouldn't otherwise see, and that's through the network of 187 00:09:21,360 --> 00:09:24,760 Speaker 3: agents that we have built up over the combined twenty 188 00:09:24,840 --> 00:09:26,720 Speaker 3: twenty five years that we all have in real estate, 189 00:09:27,000 --> 00:09:28,880 Speaker 3: and that is a huge component of it. I always 190 00:09:28,880 --> 00:09:31,160 Speaker 3: say if the selling agent as a buyers agent, if 191 00:09:31,440 --> 00:09:34,760 Speaker 3: a client is a prospective client is meeting multiple buyers agents, 192 00:09:35,080 --> 00:09:36,800 Speaker 3: I say to them, if the selling agents that are 193 00:09:36,800 --> 00:09:39,320 Speaker 3: in your market don't know your buyer's agent's name, you 194 00:09:39,400 --> 00:09:42,000 Speaker 3: might as well be looking on your own. So that's 195 00:09:42,000 --> 00:09:44,080 Speaker 3: one of the other reasons. But also, and this I 196 00:09:44,120 --> 00:09:46,199 Speaker 3: can't speak on behalf of other buyers' agents foot but 197 00:09:46,360 --> 00:09:48,640 Speaker 3: for us having been on the other side of the 198 00:09:48,640 --> 00:09:53,040 Speaker 3: transaction and having literally from start to finish off a campaign, 199 00:09:53,120 --> 00:09:56,559 Speaker 3: understanding the timing, the psychology, the conversations that have had 200 00:09:56,559 --> 00:10:02,120 Speaker 3: behind the scenes, the motivation of owners, and even down 201 00:10:02,120 --> 00:10:04,360 Speaker 3: to the timing of offers and why quicker isn't always 202 00:10:04,400 --> 00:10:08,920 Speaker 3: better for example, that's something that I don't care respectfully 203 00:10:08,920 --> 00:10:11,559 Speaker 3: how much research a buyer is doing, how many spreadsheets 204 00:10:11,600 --> 00:10:14,080 Speaker 3: they have. I even had a prospective client do a 205 00:10:14,320 --> 00:10:18,240 Speaker 3: real estate buying course to learn how to negotiate and 206 00:10:18,320 --> 00:10:21,360 Speaker 3: actually position themselves in the best possible position to buy 207 00:10:21,360 --> 00:10:23,240 Speaker 3: the property and talk to the agent that what to say. 208 00:10:24,320 --> 00:10:26,600 Speaker 3: And they had still been looking for three or four months, 209 00:10:26,600 --> 00:10:28,760 Speaker 3: and as soon as I took them on board as 210 00:10:28,800 --> 00:10:33,160 Speaker 3: a client, they bought within four weeks. So that particular 211 00:10:33,200 --> 00:10:35,640 Speaker 3: selling agent I knew, I didn't know them very well, 212 00:10:35,960 --> 00:10:39,079 Speaker 3: but every move they made, every bit of dialogue they said, 213 00:10:39,320 --> 00:10:41,960 Speaker 3: even down to the numbers they told me were of 214 00:10:42,040 --> 00:10:44,720 Speaker 3: people coming through the property, I was able to interpret 215 00:10:44,720 --> 00:10:47,240 Speaker 3: that and determine how much in interests there was the 216 00:10:47,280 --> 00:10:48,760 Speaker 3: best timing for the offer, and we. 217 00:10:48,720 --> 00:10:49,520 Speaker 2: Bought it before auction. 218 00:10:50,400 --> 00:10:54,120 Speaker 1: So do you guys, does your agency board agency, do 219 00:10:54,120 --> 00:10:57,760 Speaker 1: you do your own independent research or get or buy 220 00:10:57,920 --> 00:11:01,040 Speaker 1: research in and sort of share that with your buyers. 221 00:11:01,040 --> 00:11:03,640 Speaker 1: And that's the first question. The second question is do 222 00:11:03,640 --> 00:11:06,199 Speaker 1: you buyers come and just say, listen, I should just 223 00:11:06,240 --> 00:11:08,840 Speaker 1: find me a property I want to I want to invest. 224 00:11:08,880 --> 00:11:10,840 Speaker 1: I don't care where it is, I just invest anywhere 225 00:11:10,880 --> 00:11:12,800 Speaker 1: for me. And do you then come up with, say, 226 00:11:13,000 --> 00:11:15,280 Speaker 1: you know half a dozen places like in Australia that 227 00:11:15,360 --> 00:11:16,880 Speaker 1: might be worthwhile investing in. 228 00:11:17,280 --> 00:11:20,320 Speaker 3: So the research and data component, yeah, we do all 229 00:11:20,400 --> 00:11:24,560 Speaker 3: of our own independent research. We're not conveyancers and we're 230 00:11:24,559 --> 00:11:27,720 Speaker 3: not finance space. So when it comes to giving financial 231 00:11:27,760 --> 00:11:30,199 Speaker 3: ad buyers, obviously that's a very that's we leave that. 232 00:11:30,160 --> 00:11:31,040 Speaker 2: To the professionals. 233 00:11:31,360 --> 00:11:34,880 Speaker 3: And when it comes to formally reviewing a contract, we 234 00:11:34,920 --> 00:11:37,240 Speaker 3: also left those set to the professionals as well. But 235 00:11:37,280 --> 00:11:41,200 Speaker 3: when it comes to doing comparable sales research market research, 236 00:11:41,640 --> 00:11:44,960 Speaker 3: I mean a significant amount of that is based on 237 00:11:44,960 --> 00:11:47,840 Speaker 3: our own interpretation and knowledge of the market, based on 238 00:11:48,200 --> 00:11:50,240 Speaker 3: from us being selling agents and knowing how to read 239 00:11:50,280 --> 00:11:53,320 Speaker 3: the play. And then the other component is, you know, obviously, 240 00:11:53,400 --> 00:11:55,959 Speaker 3: in order for a client to make a decision, giving 241 00:11:56,000 --> 00:12:00,640 Speaker 3: them those comparable sales figures, growth reports showing how properties 242 00:12:00,640 --> 00:12:02,800 Speaker 3: have increased in value in a particular era over a 243 00:12:02,800 --> 00:12:05,160 Speaker 3: period of time. All of that's imperative to making a 244 00:12:05,200 --> 00:12:08,199 Speaker 3: decision as well. But not only that, but obviously we're 245 00:12:08,280 --> 00:12:10,720 Speaker 3: keeping our finger on the pulse of obviously what's going on, 246 00:12:10,760 --> 00:12:13,520 Speaker 3: and use what buyers are absorbing in terms of information 247 00:12:13,640 --> 00:12:16,400 Speaker 3: and sentiment as well. So all of that's really component. 248 00:12:16,440 --> 00:12:18,520 Speaker 3: But yeah, we do all of our own research and 249 00:12:19,080 --> 00:12:21,320 Speaker 3: we make sure that we're delivering that in a timely 250 00:12:21,360 --> 00:12:23,559 Speaker 3: manner so if the market does start to shift throughout 251 00:12:23,600 --> 00:12:26,760 Speaker 3: the search, we're communicating that to them as well. We 252 00:12:27,000 --> 00:12:30,800 Speaker 3: spend every Saturday out watching auctions, so if we don't 253 00:12:30,800 --> 00:12:32,920 Speaker 3: have a client that's been at an auction, or we're 254 00:12:32,960 --> 00:12:35,800 Speaker 3: not at an inspection with a client, which is getting rareer. Now, 255 00:12:36,280 --> 00:12:38,280 Speaker 3: we're quite busy, which is very good. Oh, we're very 256 00:12:38,320 --> 00:12:41,120 Speaker 3: lucky to be very busy. But we are out there 257 00:12:41,160 --> 00:12:43,720 Speaker 3: doing market research. So we are talking with agents, we 258 00:12:43,840 --> 00:12:48,480 Speaker 3: are we're watching auctions, and we're watching the sentiment that 259 00:12:48,520 --> 00:12:50,640 Speaker 3: buys at options in real time. And we often find 260 00:12:50,640 --> 00:12:52,560 Speaker 3: that the media is usually behind what's happening on the 261 00:12:52,559 --> 00:12:55,400 Speaker 3: ground anyway by a few weeks. So we're communicating all 262 00:12:55,440 --> 00:12:56,480 Speaker 3: that to buyers in real time. 263 00:12:56,840 --> 00:12:59,360 Speaker 1: And then let's say someone comes along and just says, look, 264 00:12:59,360 --> 00:13:00,760 Speaker 1: I just want to buy. But it's me and I 265 00:13:00,800 --> 00:13:02,240 Speaker 1: just want to buy an investment property and I want 266 00:13:02,240 --> 00:13:04,360 Speaker 1: to spend a million bucks and I want to get 267 00:13:04,440 --> 00:13:10,520 Speaker 1: you know, five percent return if possible. How do you did? 268 00:13:10,559 --> 00:13:13,400 Speaker 1: You just say? Well, Mark, you know, like, do you 269 00:13:13,400 --> 00:13:17,560 Speaker 1: want to buy in Sydney or Brisbane or Melbourne? I said, 270 00:13:17,559 --> 00:13:20,840 Speaker 1: I couldn't care less, just get me a property, hand it. 271 00:13:20,920 --> 00:13:21,120 Speaker 3: Yeah. 272 00:13:21,200 --> 00:13:22,960 Speaker 1: Yeah. Do you do that sort of stuff with people? 273 00:13:23,360 --> 00:13:24,880 Speaker 1: Do you get those sorts of clients we do? 274 00:13:25,000 --> 00:13:29,640 Speaker 3: Look, I would say that a majority of the clients 275 00:13:29,640 --> 00:13:31,360 Speaker 3: that we get, I wouldn't definitely not all. I would 276 00:13:31,360 --> 00:13:34,880 Speaker 3: say probably sixty seven percent are own occupy clients. They're 277 00:13:34,880 --> 00:13:37,800 Speaker 3: looking to move into south to live it. Yeah but yes, sorry, 278 00:13:37,800 --> 00:13:40,520 Speaker 3: their own occupy clients at real estate Lingo. So they're 279 00:13:40,559 --> 00:13:43,000 Speaker 3: looking for someone to live other themselves or their family 280 00:13:43,240 --> 00:13:45,400 Speaker 3: or as a couple. But for those who are purely 281 00:13:45,400 --> 00:13:48,560 Speaker 3: looking at it as transactional, we sit down with them 282 00:13:48,600 --> 00:13:52,360 Speaker 3: understand what their goals are. Obviously, client wants to receive 283 00:13:52,360 --> 00:13:55,760 Speaker 3: the highest return, highest returns as possible. I had a 284 00:13:55,800 --> 00:13:58,720 Speaker 3: client in that position towards the end of last year, 285 00:13:59,120 --> 00:14:02,520 Speaker 3: and she was considered during suburbs slightly further west. 286 00:14:03,160 --> 00:14:04,760 Speaker 2: She was considering even inner. 287 00:14:04,600 --> 00:14:06,959 Speaker 3: West suburbs, and I said to her, look how much 288 00:14:07,000 --> 00:14:08,679 Speaker 3: money you got to spend, And we worked out her 289 00:14:08,679 --> 00:14:12,920 Speaker 3: budget and we spent a few weeks investigating different areas 290 00:14:12,960 --> 00:14:15,280 Speaker 3: because for her there was a possibility down the track 291 00:14:15,320 --> 00:14:17,440 Speaker 3: that she may move into it. Now, that's not every client, 292 00:14:17,520 --> 00:14:21,880 Speaker 3: but she did want to have some She wanted to 293 00:14:21,880 --> 00:14:23,760 Speaker 3: resonate with the area that the property was being born in. 294 00:14:23,800 --> 00:14:25,920 Speaker 3: It wanted to be somewhat familiar to her, and she 295 00:14:26,000 --> 00:14:27,800 Speaker 3: thought that the eastern suburbs and the Inner City were 296 00:14:27,800 --> 00:14:32,040 Speaker 3: completely out of the question. Within about second or third week, 297 00:14:32,360 --> 00:14:35,560 Speaker 3: we identified Dullinghurst, which is obviously you know where we 298 00:14:35,600 --> 00:14:38,680 Speaker 3: are now, and I've grown up living in the Inner City, 299 00:14:38,840 --> 00:14:41,840 Speaker 3: so I'm very very careful. I know that all the 300 00:14:41,880 --> 00:14:46,400 Speaker 3: team are the same. To push our preference for areas 301 00:14:46,400 --> 00:14:49,600 Speaker 3: onto our clients, we certainly never do that. However, if 302 00:14:49,640 --> 00:14:52,640 Speaker 3: there is a property or a opportunity that we identified 303 00:14:52,680 --> 00:14:54,040 Speaker 3: that we think is going to meet the needs of 304 00:14:54,040 --> 00:14:55,880 Speaker 3: our clients, well then we put that forward to the 305 00:14:55,920 --> 00:14:57,840 Speaker 3: client and to explain why we think it would work. 306 00:14:58,120 --> 00:15:01,280 Speaker 3: This property was a one bedroom with no parking in Darlinghurst. 307 00:15:01,680 --> 00:15:05,040 Speaker 3: The return was I mean the property we bought for 308 00:15:05,120 --> 00:15:07,360 Speaker 3: about I would say it was about six hundred and 309 00:15:07,400 --> 00:15:10,760 Speaker 3: fifty thousand, and the return, the rental return was about 310 00:15:10,760 --> 00:15:15,120 Speaker 3: six fifty a week. And then during major events during 311 00:15:15,200 --> 00:15:19,280 Speaker 3: Marty Grad the building actually allowed Airbnb it does currently, 312 00:15:19,720 --> 00:15:24,120 Speaker 3: and you know that doubled so for her, she never 313 00:15:24,200 --> 00:15:27,120 Speaker 3: considered that area purely because she thought it wasn't even possible. 314 00:15:27,520 --> 00:15:30,680 Speaker 3: And when this the opportunity was identified, we were able 315 00:15:30,680 --> 00:15:34,720 Speaker 3: to secure the property for a fair market price, which 316 00:15:34,720 --> 00:15:37,000 Speaker 3: she didn't think was possible. And she's now got a 317 00:15:37,040 --> 00:15:40,160 Speaker 3: fantastic investment that's going to generate a fantastic rental return, 318 00:15:40,280 --> 00:15:41,920 Speaker 3: and we bought it with a client, a tenant already 319 00:15:41,920 --> 00:15:42,440 Speaker 3: in the property. 320 00:15:42,640 --> 00:15:45,960 Speaker 1: So are you saying that in your practice, at least 321 00:15:45,680 --> 00:15:49,080 Speaker 1: most of the majority of people come to see you 322 00:15:49,360 --> 00:15:51,360 Speaker 1: are looking to buy the company to you, to get 323 00:15:51,440 --> 00:15:53,520 Speaker 1: to buy a house that they've been try or somewhere 324 00:15:53,520 --> 00:15:57,560 Speaker 1: to live in themselves under occupies. Why do they do that? 325 00:15:57,720 --> 00:15:59,680 Speaker 1: Why don't they just say why do they keep you 326 00:15:59,800 --> 00:16:02,720 Speaker 1: going real estate, dot com or domain wherever, wherever the 327 00:16:02,800 --> 00:16:06,760 Speaker 1: very platforms are and continue to look at those things themselves. 328 00:16:07,440 --> 00:16:12,160 Speaker 1: Is it a sense of, look, I just want someone 329 00:16:12,160 --> 00:16:14,560 Speaker 1: to handle it for me. I don't want to have 330 00:16:14,600 --> 00:16:18,640 Speaker 1: the hassle. These people typically too busy in other shit 331 00:16:18,720 --> 00:16:22,840 Speaker 1: they're doing. Or is it maybe they're lazy or they 332 00:16:22,880 --> 00:16:27,200 Speaker 1: don't that they just don't like the the drama associated 333 00:16:27,200 --> 00:16:29,760 Speaker 1: with the whole thing, because you know, like it's it's 334 00:16:29,800 --> 00:16:32,680 Speaker 1: sort of for some people's a bit traumatic. Yeah, you know, 335 00:16:32,760 --> 00:16:36,040 Speaker 1: like it's dealing with vendors agents. You know, you turn 336 00:16:36,120 --> 00:16:38,400 Speaker 1: up and have you know, like you're talking the agent. 337 00:16:38,480 --> 00:16:41,360 Speaker 1: The agent could be talking rubbish to you. I mean, like, 338 00:16:41,400 --> 00:16:44,080 Speaker 1: you know, it can be stressful some people very stressful. 339 00:16:44,840 --> 00:16:47,640 Speaker 2: What do you think it's for a lot of buyers? 340 00:16:47,680 --> 00:16:49,960 Speaker 3: I go so far as to say it's mildly traumatic. 341 00:16:50,600 --> 00:16:54,920 Speaker 3: It's when you're going when you're going into a situation 342 00:16:55,000 --> 00:16:56,640 Speaker 3: that you've never been in before, which. 343 00:16:56,440 --> 00:16:58,240 Speaker 2: Is a lot of a lot of buyers. 344 00:16:58,440 --> 00:17:01,200 Speaker 3: And even if it's something you have done before, people 345 00:17:01,240 --> 00:17:05,199 Speaker 3: purchase properties maybe in general, unless it's you know, for 346 00:17:05,240 --> 00:17:07,080 Speaker 3: a portfolio, you've got a lot of experience in it. 347 00:17:07,480 --> 00:17:10,199 Speaker 3: They do this maybe once twice three times in their 348 00:17:10,240 --> 00:17:13,639 Speaker 3: life and the market's constantly moving. So what happened the 349 00:17:13,680 --> 00:17:18,000 Speaker 3: first time you bought, isn't the the the landscape of 350 00:17:18,040 --> 00:17:19,560 Speaker 3: the market as it is now or when they current 351 00:17:19,600 --> 00:17:22,919 Speaker 3: when they're looking to buy the next property. So what 352 00:17:23,000 --> 00:17:24,960 Speaker 3: I've found, or the feedback that I get from buyers, 353 00:17:25,000 --> 00:17:27,520 Speaker 3: is that they don't know who to trust. And you know, 354 00:17:27,560 --> 00:17:31,600 Speaker 3: obviously selling agents have in some cases fair or unfair 355 00:17:31,600 --> 00:17:36,720 Speaker 3: reputation for being misleading coming from the selling agent perspective. 356 00:17:36,800 --> 00:17:37,639 Speaker 2: Just for context. 357 00:17:38,560 --> 00:17:40,720 Speaker 3: You know, I can speak for myself and Bianca when 358 00:17:40,720 --> 00:17:42,840 Speaker 3: we always made a concerted effort or we always were 359 00:17:42,840 --> 00:17:46,200 Speaker 3: as ethical. We were ethical, we were honest, We did 360 00:17:46,280 --> 00:17:48,879 Speaker 3: everything we could to do the right thing by the 361 00:17:48,880 --> 00:17:50,720 Speaker 3: buy but we were still working in the vendor's best. 362 00:17:50,920 --> 00:17:53,640 Speaker 3: We were still working for the vendor, so we could. 363 00:17:53,720 --> 00:17:57,399 Speaker 3: You know, an agent could be the nicest, most personal 364 00:17:57,880 --> 00:18:00,360 Speaker 3: agent you've ever dealt with, but their interest is still 365 00:18:00,440 --> 00:18:03,639 Speaker 3: vested with their client, which is the vendor. So you know, 366 00:18:03,720 --> 00:18:05,480 Speaker 3: if you're going into environment you've never been in before, 367 00:18:05,520 --> 00:18:07,480 Speaker 3: you've only got one person's word to take, and that's 368 00:18:07,520 --> 00:18:10,120 Speaker 3: a selling agent. And I can say, I mean Biancona 369 00:18:10,119 --> 00:18:12,520 Speaker 3: actually speaking about it this morning, that you know, we 370 00:18:12,520 --> 00:18:14,560 Speaker 3: were reminding each other when we were in we were 371 00:18:14,600 --> 00:18:16,480 Speaker 3: at the selling office we were at, and I know 372 00:18:16,520 --> 00:18:18,760 Speaker 3: the other selling agents, sorry, the other selling offices are 373 00:18:18,760 --> 00:18:21,639 Speaker 3: the same. They bring in psychology trainers, they bring in 374 00:18:21,720 --> 00:18:25,560 Speaker 3: negotiation coaches. They are taught, they are given every single 375 00:18:25,600 --> 00:18:29,480 Speaker 3: tool possible to extract the highest price from the buyer 376 00:18:30,080 --> 00:18:34,360 Speaker 3: and get the best outcome for the vendor. And buyers 377 00:18:34,400 --> 00:18:37,760 Speaker 3: will quickly realize or they do quickly realize that, yeah, 378 00:18:37,800 --> 00:18:40,359 Speaker 3: they take the agent's word for it. They go along 379 00:18:40,400 --> 00:18:42,919 Speaker 3: with what they believe is the price guide or the 380 00:18:42,920 --> 00:18:47,159 Speaker 3: price feedback. Then and this is just one instance or 381 00:18:47,200 --> 00:18:49,359 Speaker 3: one situation that a buyer could find themselves. And they 382 00:18:49,400 --> 00:18:51,080 Speaker 3: get to the option and it goes for three hundred 383 00:18:51,160 --> 00:18:53,560 Speaker 3: k over the price guide or three hundred k over 384 00:18:53,800 --> 00:18:55,199 Speaker 3: what the agent said it was going to go to, 385 00:18:55,440 --> 00:18:58,040 Speaker 3: or the agent says to them, or you're the best buyer, 386 00:18:58,080 --> 00:19:00,680 Speaker 3: you should definitely be there tomorrow. And then they get 387 00:19:00,680 --> 00:19:03,639 Speaker 3: there and they don't even get a bit in. And again, 388 00:19:04,040 --> 00:19:07,199 Speaker 3: from from what I used to relate to buyers, the 389 00:19:07,280 --> 00:19:09,240 Speaker 3: goal was always to get them there on the day. 390 00:19:09,760 --> 00:19:12,280 Speaker 3: The goal was always to give everyone a fair chance, 391 00:19:12,440 --> 00:19:14,720 Speaker 3: but to have as much competition possible on the day, 392 00:19:14,760 --> 00:19:18,560 Speaker 3: because competition created the highest price possible. So It's not 393 00:19:18,600 --> 00:19:21,359 Speaker 3: that we can avoid options every single time, but we 394 00:19:21,400 --> 00:19:23,560 Speaker 3: can certainly read the play and if there is an 395 00:19:23,560 --> 00:19:26,359 Speaker 3: opportunity to save the buyer the time and energy for 396 00:19:26,400 --> 00:19:28,719 Speaker 3: a property that we are fairly confident they're not going 397 00:19:28,720 --> 00:19:30,600 Speaker 3: to be able to buy, then we will do that. 398 00:19:31,119 --> 00:19:34,359 Speaker 3: And having someone to decipher, as I was saying before, 399 00:19:34,400 --> 00:19:38,119 Speaker 3: to decipher the dialogue, to actually give them a completely 400 00:19:38,480 --> 00:19:42,400 Speaker 3: different viewpoint on what's going on, the relief that they 401 00:19:42,520 --> 00:19:46,160 Speaker 3: experience and the weight that is lifted off their shoulders. 402 00:19:46,160 --> 00:19:48,600 Speaker 3: I had a client say the other day, I've never 403 00:19:48,760 --> 00:19:50,840 Speaker 3: you know, They've been looking to buy for six months. 404 00:19:50,880 --> 00:19:53,600 Speaker 3: And we have weekly catch ups with our clients like 405 00:19:53,600 --> 00:19:55,479 Speaker 3: a no zoom or a face to face meeting. We 406 00:19:55,520 --> 00:19:58,119 Speaker 3: speak every day. But in one of these meetings they said, oh, 407 00:19:58,119 --> 00:19:59,720 Speaker 3: it's a bit strange. I don't know what to do 408 00:19:59,760 --> 00:20:03,000 Speaker 3: with self anymore. I'm not checking domain every single hour 409 00:20:03,000 --> 00:20:05,359 Speaker 3: of the day. I'm not, you know, fielding calls or 410 00:20:05,400 --> 00:20:09,400 Speaker 3: avoiding them from real estate agents. And it's they can 411 00:20:09,480 --> 00:20:12,280 Speaker 3: just get on with their lives and focus on work 412 00:20:12,359 --> 00:20:15,480 Speaker 3: on their family. It's it's all encompassing when someone's looking 413 00:20:15,480 --> 00:20:16,440 Speaker 3: for a property. 414 00:20:16,200 --> 00:20:20,240 Speaker 1: And in most of the places that your agency find 415 00:20:20,280 --> 00:20:24,359 Speaker 1: for your buyers or for your clients. Are they probably 416 00:20:24,440 --> 00:20:27,439 Speaker 1: that are currently listed on one of those on one 417 00:20:27,440 --> 00:20:29,800 Speaker 1: of the usual platforms, or are they are they things 418 00:20:29,800 --> 00:20:33,560 Speaker 1: that you know are coming up but not not yet listed, 419 00:20:33,720 --> 00:20:36,080 Speaker 1: or alternally something that was on the market that didn't 420 00:20:36,119 --> 00:20:39,080 Speaker 1: sell but you know about it, Like how do you 421 00:20:39,160 --> 00:20:40,680 Speaker 1: know how to direct your clients? 422 00:20:41,080 --> 00:20:43,080 Speaker 2: So the answer is all of the above. 423 00:20:44,200 --> 00:20:47,639 Speaker 3: We make not a joke, but we say to clients 424 00:20:47,640 --> 00:20:50,159 Speaker 3: when we sign them up that you know we're not 425 00:20:50,240 --> 00:20:52,480 Speaker 3: going to stop you from looking on domain and real 426 00:20:52,560 --> 00:20:55,800 Speaker 3: estate dot com. I say, you know, you know we 427 00:20:56,119 --> 00:20:59,440 Speaker 3: don't spend every moment of our day on those websites 428 00:20:59,480 --> 00:21:02,639 Speaker 3: waiting for notifications to pop up or waiting for new 429 00:21:02,640 --> 00:21:04,400 Speaker 3: properties to come online. And we say, we know you're 430 00:21:04,400 --> 00:21:08,520 Speaker 3: doing that anyway, we say that majority of our time 431 00:21:08,680 --> 00:21:12,800 Speaker 3: is spent sourcing these opportunities before they come online or 432 00:21:13,080 --> 00:21:15,200 Speaker 3: ones that are never going to come online. And there's 433 00:21:15,200 --> 00:21:18,919 Speaker 3: a big difference, so the properties that are due to 434 00:21:18,920 --> 00:21:22,680 Speaker 3: come online, even the ones that they get sent out 435 00:21:22,720 --> 00:21:27,199 Speaker 3: as off market opportunities. And I'm sure that either you 436 00:21:27,680 --> 00:21:30,840 Speaker 3: or anyone who's watching gets those off market emails in 437 00:21:30,880 --> 00:21:35,560 Speaker 3: their inbox. They're not off market. They're either coming online, 438 00:21:35,560 --> 00:21:39,120 Speaker 3: they've had photography done, they've had copy done, they're going 439 00:21:39,200 --> 00:21:42,480 Speaker 3: to go online. If the property doesn't sell, it's being 440 00:21:42,520 --> 00:21:45,000 Speaker 3: sent out to a database. And sometimes a database is 441 00:21:45,040 --> 00:21:48,719 Speaker 3: five thousand people, ten thousand people, but I can almost 442 00:21:48,760 --> 00:21:51,000 Speaker 3: guarantee it's the same people you're seeing at open homes 443 00:21:51,040 --> 00:21:55,240 Speaker 3: every single weekend. So it's a marketing tool a lot 444 00:21:55,240 --> 00:21:58,080 Speaker 3: of the time to give a buy the feeling of 445 00:21:58,160 --> 00:22:02,879 Speaker 3: limited combat or a more of an exclusive opportunity. So 446 00:22:02,920 --> 00:22:04,679 Speaker 3: you know, you put VIP in front of anything and 447 00:22:04,680 --> 00:22:06,520 Speaker 3: people someone feel special and they feel like they've got 448 00:22:06,520 --> 00:22:09,760 Speaker 3: a better chance, but they're not off market opportunities. Of 449 00:22:10,080 --> 00:22:13,240 Speaker 3: true off market opportunities are ones that we're never going 450 00:22:13,280 --> 00:22:15,400 Speaker 3: to go online. So whether that be I'm not going 451 00:22:15,400 --> 00:22:18,760 Speaker 3: to give away all the secrets, but whether it be 452 00:22:19,320 --> 00:22:23,600 Speaker 3: you know, dow knocking, whether it be and speaking to 453 00:22:23,640 --> 00:22:25,920 Speaker 3: an agent. We are on the phone every day to 454 00:22:25,960 --> 00:22:30,160 Speaker 3: agents and we're having great vendors ag yeah, n sorry, 455 00:22:30,200 --> 00:22:32,800 Speaker 3: vendors agents. Correct, vendors agents. We're on the phone to 456 00:22:32,880 --> 00:22:37,280 Speaker 3: vendors agents every day all throughout the day, and depending 457 00:22:37,280 --> 00:22:39,600 Speaker 3: on how familiar we are, then we'll say, what have 458 00:22:39,720 --> 00:22:41,439 Speaker 3: you you know what have you are praised in the 459 00:22:41,480 --> 00:22:44,200 Speaker 3: past few months, or past few weeks or this week. 460 00:22:44,720 --> 00:22:47,240 Speaker 3: And a lot of the time, these these off market 461 00:22:47,280 --> 00:22:49,600 Speaker 3: opportunities or these deals that we're able to pull together, 462 00:22:50,359 --> 00:22:54,680 Speaker 3: the vendors agent will sign them up purely because we've 463 00:22:54,720 --> 00:22:57,520 Speaker 3: identified this property as a perfect match for our client 464 00:22:57,880 --> 00:23:00,800 Speaker 3: and they end up buying it with zero competition. And 465 00:23:00,960 --> 00:23:02,960 Speaker 3: if we hadn't have had that conversation with the a 466 00:23:03,160 --> 00:23:05,879 Speaker 3: seller's agent, then that property would never have been signed 467 00:23:05,920 --> 00:23:08,160 Speaker 3: up and it never would have been sold. So that's 468 00:23:08,200 --> 00:23:10,240 Speaker 3: an example of an off market. But the pre markets 469 00:23:10,320 --> 00:23:13,680 Speaker 3: are the ones that we get. We're told a few 470 00:23:13,680 --> 00:23:15,520 Speaker 3: weeks or even a few months in advance, this is 471 00:23:15,560 --> 00:23:18,680 Speaker 3: coming up, so the agency agreement is signed, the contract 472 00:23:18,800 --> 00:23:23,040 Speaker 3: is available. But sometimes it's a complete you know, this 473 00:23:23,119 --> 00:23:25,000 Speaker 3: is on the you know, this is a heads up, 474 00:23:25,040 --> 00:23:27,400 Speaker 3: this is what we've got coming up, and we identify 475 00:23:27,440 --> 00:23:29,800 Speaker 3: these opportunities. If we don't have a client right now, 476 00:23:30,160 --> 00:23:32,359 Speaker 3: we will. If we do speak to someone or we 477 00:23:32,400 --> 00:23:34,119 Speaker 3: meet someone out and about we can say to them, well, 478 00:23:34,119 --> 00:23:36,680 Speaker 3: we've actually already got something lined up like that. So 479 00:23:36,720 --> 00:23:41,560 Speaker 3: it's this proactive, continuous, proactive searching for opportunities that we 480 00:23:41,600 --> 00:23:43,919 Speaker 3: believe will be a great fit for someone because not 481 00:23:43,920 --> 00:23:46,639 Speaker 3: all properties are created equal. And then there's also the 482 00:23:46,720 --> 00:23:52,199 Speaker 3: continuous hunt for properties that we're never going to go 483 00:23:52,240 --> 00:23:56,520 Speaker 3: online anyway, and creating those opportunities otherwise wouldn't have been there. 484 00:23:56,880 --> 00:24:00,320 Speaker 1: So it's twenty twenty six. We just had a rate 485 00:24:00,400 --> 00:24:06,679 Speaker 1: rise in February. It probably shocked some people a little bit. 486 00:24:07,240 --> 00:24:10,880 Speaker 1: Some people might have been expecting a either the race 487 00:24:10,920 --> 00:24:13,159 Speaker 1: stay on hold or even potentially go down there. Certainly 488 00:24:13,160 --> 00:24:15,840 Speaker 1: were people were expecting that in August last year for 489 00:24:15,920 --> 00:24:19,639 Speaker 1: this year between twenty six, What are you guys seeing 490 00:24:19,640 --> 00:24:21,919 Speaker 1: out there at the moment? Are you seeing lots of 491 00:24:21,960 --> 00:24:25,439 Speaker 1: demand maybe you could break it up into apartments and 492 00:24:25,480 --> 00:24:28,040 Speaker 1: houses or something like that they put in two parts, 493 00:24:28,119 --> 00:24:30,199 Speaker 1: Or is there a segment of the market, is it 494 00:24:30,280 --> 00:24:32,880 Speaker 1: like between one million and two million that's really active 495 00:24:33,000 --> 00:24:35,320 Speaker 1: or inactive or what are you seeing? 496 00:24:36,680 --> 00:24:41,240 Speaker 3: So in terms of the rate rise, look, there was 497 00:24:41,280 --> 00:24:43,840 Speaker 3: always there was a cent of this sentiment was I 498 00:24:43,840 --> 00:24:45,520 Speaker 3: mean lot some people thought that it was going to happen. 499 00:24:45,560 --> 00:24:47,199 Speaker 2: Some people were hoping it wasn't going to happen. But 500 00:24:47,240 --> 00:24:47,760 Speaker 2: it's happened. 501 00:24:48,200 --> 00:24:50,760 Speaker 3: And start of the year is always a little bit 502 00:24:51,840 --> 00:24:55,600 Speaker 3: I want to say unstable in terms of there's a 503 00:24:55,640 --> 00:24:58,919 Speaker 3: lot of people generally that wait for a bit of 504 00:24:59,440 --> 00:25:02,520 Speaker 3: market pre for evidence about what the market's going to 505 00:25:02,560 --> 00:25:07,359 Speaker 3: do before acting. So a really quick example, I bid 506 00:25:07,400 --> 00:25:10,400 Speaker 3: on behalf of clients. So the client was a full 507 00:25:10,440 --> 00:25:13,479 Speaker 3: service client, so we saw the property for them. It 508 00:25:13,600 --> 00:25:15,399 Speaker 3: was we got in before the first open home, but 509 00:25:15,440 --> 00:25:17,679 Speaker 3: it was a property that was going to auction. Respect 510 00:25:17,720 --> 00:25:20,199 Speaker 3: the process, that's no problem. So we got there on 511 00:25:20,240 --> 00:25:25,080 Speaker 3: the day, fifteen registered buyers there on the day, the 512 00:25:25,200 --> 00:25:28,280 Speaker 3: auctioneer called for an opening bid, and for five minutes 513 00:25:28,320 --> 00:25:31,920 Speaker 3: there was silence. Fifteen registered buyers and no one bid. 514 00:25:32,240 --> 00:25:34,440 Speaker 3: Everyone was waiting for someone else to make a move, 515 00:25:34,800 --> 00:25:36,560 Speaker 3: and they had to open it with a vendor bid, 516 00:25:36,760 --> 00:25:40,040 Speaker 3: And I was I knew that that was a sentiment 517 00:25:40,080 --> 00:25:41,399 Speaker 3: at the start of the year, but to see that 518 00:25:41,440 --> 00:25:45,000 Speaker 3: play out in an auction environment was particularly interesting. 519 00:25:46,359 --> 00:25:47,760 Speaker 1: What sort of value we're talking about? 520 00:25:48,320 --> 00:25:53,040 Speaker 3: This property was a mid one, so I wouldn't say 521 00:25:53,080 --> 00:25:56,080 Speaker 3: that it was the guide price was underneath that one 522 00:25:56,080 --> 00:25:56,640 Speaker 3: point five. 523 00:25:57,760 --> 00:25:58,960 Speaker 1: One to one point five. 524 00:25:58,880 --> 00:26:01,400 Speaker 3: Yeah, So the property ended up selling for one five 525 00:26:01,480 --> 00:26:04,960 Speaker 3: seventy five. The guide before the auction was one point three. 526 00:26:05,680 --> 00:26:06,560 Speaker 3: Started at one point two. 527 00:26:08,119 --> 00:26:09,640 Speaker 1: Fairly healthy outcome. 528 00:26:09,440 --> 00:26:14,080 Speaker 3: Absolutely absolutely, and that was so on the so that property. 529 00:26:14,160 --> 00:26:15,919 Speaker 3: We ended up securing that property for the client, and 530 00:26:15,920 --> 00:26:19,000 Speaker 3: we'd priced it up beforehand and it was brought within 531 00:26:19,040 --> 00:26:20,919 Speaker 3: the client's budget. So that was a great outcome. But 532 00:26:20,960 --> 00:26:25,119 Speaker 3: in terms of sentiment in general, look, there's two price 533 00:26:25,200 --> 00:26:29,240 Speaker 3: points or two demographics that we're finding that is the 534 00:26:29,320 --> 00:26:32,520 Speaker 3: most buoyant or experiencing the like, the most active, and 535 00:26:32,560 --> 00:26:35,080 Speaker 3: that is the sub one point five because there is 536 00:26:35,320 --> 00:26:38,320 Speaker 3: always someone looking to buy their first property. So let's 537 00:26:38,320 --> 00:26:40,040 Speaker 3: just say first home buy is up to one point five. 538 00:26:40,480 --> 00:26:45,640 Speaker 3: And then the more established families looking to buy family homes, 539 00:26:46,080 --> 00:26:50,000 Speaker 3: so price point wise, you'd probably be looking at i'd 540 00:26:50,040 --> 00:26:53,960 Speaker 3: say high twos, mid to high two's, all the way 541 00:26:54,040 --> 00:26:57,480 Speaker 3: up to the threes and the fours and onwards. Those 542 00:26:57,520 --> 00:27:02,280 Speaker 3: two price points within isn't unaffected by rate rises. And 543 00:27:02,320 --> 00:27:05,000 Speaker 3: the reason being is the first category, the first home buyers, 544 00:27:05,040 --> 00:27:06,560 Speaker 3: is always going to be first home buyers and no 545 00:27:06,560 --> 00:27:10,920 Speaker 3: matter what rate rises occur. And then the more established families, 546 00:27:11,320 --> 00:27:13,600 Speaker 3: not to say that they're not impacted, but they've already 547 00:27:13,600 --> 00:27:16,159 Speaker 3: got a deposit saved up, they're making a move for 548 00:27:16,200 --> 00:27:18,800 Speaker 3: their family and the way that I distinguish it is 549 00:27:19,000 --> 00:27:22,520 Speaker 3: the people at the moment who need to buy are buying. 550 00:27:23,040 --> 00:27:25,679 Speaker 3: That need is never going to change, so family growth, 551 00:27:25,760 --> 00:27:29,840 Speaker 3: family getting smaller, death, divorce, and then the first home buyers. 552 00:27:30,359 --> 00:27:33,719 Speaker 3: The category that's in the middle, those that don't need 553 00:27:34,040 --> 00:27:37,280 Speaker 3: to buy but it's more of a want those that 554 00:27:37,320 --> 00:27:41,040 Speaker 3: category is the one that we're seeing less active. And 555 00:27:41,119 --> 00:27:43,840 Speaker 3: that's the category that when there is any uncertainty out 556 00:27:43,880 --> 00:27:45,919 Speaker 3: there in the market. So, you know, are we going 557 00:27:46,000 --> 00:27:48,280 Speaker 3: to receive another few interests rate rises? We don't know, 558 00:27:48,680 --> 00:27:53,840 Speaker 3: or I don't know, though no one knows exactly without 559 00:27:53,840 --> 00:27:57,560 Speaker 3: that crystal ball that no one has. They're the ones 560 00:27:57,640 --> 00:28:01,240 Speaker 3: that are pausing and waiting. So what we're finding is 561 00:28:01,240 --> 00:28:03,639 Speaker 3: is that I'd say, but if we're going to put 562 00:28:03,680 --> 00:28:06,360 Speaker 3: a figure on it and generalizing here, but anywhere from 563 00:28:06,359 --> 00:28:08,080 Speaker 3: the high ones all the way up to like that 564 00:28:08,200 --> 00:28:11,480 Speaker 3: mid twis we're actually finding quite a few properties struggling. 565 00:28:11,800 --> 00:28:14,000 Speaker 3: And that's not to say that they're easy pickings as 566 00:28:14,000 --> 00:28:17,600 Speaker 3: buyers agents. You know, just because the market's doing what 567 00:28:17,640 --> 00:28:19,920 Speaker 3: it's doing, the seller still wants the price that they 568 00:28:19,920 --> 00:28:22,400 Speaker 3: want and they're still going off comparable sales. I mean, 569 00:28:22,400 --> 00:28:25,240 Speaker 3: there's no other way to determine what your property's worth. 570 00:28:25,480 --> 00:28:27,840 Speaker 3: And they've also probably got agents in their ear who 571 00:28:27,880 --> 00:28:30,880 Speaker 3: need more stock saying oh no, you're yeah, absolutely your 572 00:28:30,880 --> 00:28:33,080 Speaker 3: property is worth I saw this down the road for 573 00:28:33,119 --> 00:28:35,200 Speaker 3: about you know, for this price a few months ago. Yep, 574 00:28:35,240 --> 00:28:38,760 Speaker 3: we can get you that, no problem. So these properties 575 00:28:38,760 --> 00:28:40,600 Speaker 3: are being signed up with, these vendors are being signed 576 00:28:40,640 --> 00:28:43,800 Speaker 3: up and very quickly then being told that our market's 577 00:28:43,800 --> 00:28:45,480 Speaker 3: not there, We've got to adjust your price guide or 578 00:28:45,520 --> 00:28:48,320 Speaker 3: market's not there. What we said we thought was originally 579 00:28:48,400 --> 00:28:50,840 Speaker 3: going to be possible is now no longer possible. And 580 00:28:50,880 --> 00:28:53,960 Speaker 3: those properties are struggling because you know, you can imagine 581 00:28:53,960 --> 00:28:56,400 Speaker 3: you've just signed up to sell your home. You're not 582 00:28:56,440 --> 00:28:59,440 Speaker 3: going to be so quick to take a significant price 583 00:28:59,520 --> 00:29:01,840 Speaker 3: reduction because you've decided to list your property. And a 584 00:29:01,880 --> 00:29:05,160 Speaker 3: lot of these properties are passing in and owners are 585 00:29:05,200 --> 00:29:07,600 Speaker 3: deciding to just pull them off the market altogether again 586 00:29:07,640 --> 00:29:08,840 Speaker 3: if they don't need to sell. 587 00:29:09,400 --> 00:29:15,520 Speaker 1: And are you seeing any marked difference between the performance 588 00:29:15,560 --> 00:29:20,440 Speaker 1: of single dwellings versus say, apartments. 589 00:29:20,200 --> 00:29:24,400 Speaker 3: In terms of distinguishing the two, I'd say, if I'm generalizing, 590 00:29:24,480 --> 00:29:26,880 Speaker 3: the good stock will always sell well, whether it's an 591 00:29:26,880 --> 00:29:30,280 Speaker 3: apartment or a house. You know, main roads, amount of 592 00:29:30,320 --> 00:29:33,440 Speaker 3: natural light, internal space, all of those things play a 593 00:29:33,520 --> 00:29:36,640 Speaker 3: huge part. I would say, I would go so far 594 00:29:36,680 --> 00:29:39,440 Speaker 3: as to saying no, there are plenty of apartments with 595 00:29:39,480 --> 00:29:43,560 Speaker 3: a huge amount of demand, fantastic capital growth, and there 596 00:29:43,600 --> 00:29:48,160 Speaker 3: are houses in the same vein. People usually gravitate towards 597 00:29:48,160 --> 00:29:50,400 Speaker 3: houses if they can, because they do, you know, there's 598 00:29:50,440 --> 00:29:53,880 Speaker 3: that land is keen. Land is what you want. But 599 00:29:54,160 --> 00:29:57,720 Speaker 3: we have conversations with buyers who are on the cusp 600 00:29:57,920 --> 00:30:01,200 Speaker 3: of the price point that can bin house. So at 601 00:30:01,240 --> 00:30:04,920 Speaker 3: the moment that would be what one seven, one eight 602 00:30:05,040 --> 00:30:06,840 Speaker 3: for say like a two bedroom house in the Inner 603 00:30:06,880 --> 00:30:12,400 Speaker 3: Wes with no parking, And what we are sharing with 604 00:30:12,480 --> 00:30:16,200 Speaker 3: them more or kind of I guess in informing them 605 00:30:16,280 --> 00:30:19,120 Speaker 3: is that just because a house can be bought doesn't 606 00:30:19,120 --> 00:30:22,560 Speaker 3: mean it's necessarily the best option for you, especially if 607 00:30:22,560 --> 00:30:24,560 Speaker 3: the goal is to leverage off of that in the 608 00:30:24,600 --> 00:30:28,160 Speaker 3: future into buying something larger. If the goal is this 609 00:30:28,320 --> 00:30:30,560 Speaker 3: is going to be you know, a next five to 610 00:30:30,600 --> 00:30:32,920 Speaker 3: ten year home or three to five year home, and 611 00:30:32,960 --> 00:30:36,000 Speaker 3: the goal is capital growth and using that equity than 612 00:30:36,040 --> 00:30:39,520 Speaker 3: an upsize, it's not always a house. Again, the how 613 00:30:39,600 --> 00:30:41,880 Speaker 3: if you can afford a two bedroom house, but it's 614 00:30:41,920 --> 00:30:44,040 Speaker 3: on a main road, and it's small and it doesn't 615 00:30:44,040 --> 00:30:46,720 Speaker 3: get much light. We're saying to clients in a lot 616 00:30:46,720 --> 00:30:49,680 Speaker 3: of instances, you probably be better off looking at townhouses 617 00:30:50,240 --> 00:30:53,000 Speaker 3: or apartments that have a greater internal size and that 618 00:30:53,080 --> 00:30:57,280 Speaker 3: feel like a house. So it's I wouldn't it's for 619 00:30:57,400 --> 00:31:00,720 Speaker 3: me or for us even for clients. It's not as 620 00:31:00,800 --> 00:31:03,760 Speaker 3: simple or as black and white as separating it between 621 00:31:03,920 --> 00:31:07,160 Speaker 3: strata properties and trant's titles. So apartments and houses, there's 622 00:31:07,440 --> 00:31:09,680 Speaker 3: you know, what is it you actually need the property for, 623 00:31:10,000 --> 00:31:11,640 Speaker 3: and then going from there and trying to get the 624 00:31:11,640 --> 00:31:12,800 Speaker 3: best option within the budget. 625 00:31:13,160 --> 00:31:15,760 Speaker 1: So if I just round this off, if you don't 626 00:31:15,800 --> 00:31:19,960 Speaker 1: mind knowing what you know now about both sides of 627 00:31:20,000 --> 00:31:22,400 Speaker 1: the deal as a vendor's agent and as a buyer's agent, 628 00:31:23,560 --> 00:31:28,120 Speaker 1: what sort of advice would you give to your younger 629 00:31:28,200 --> 00:31:32,000 Speaker 1: self today? What would you say to yourself? What one 630 00:31:32,080 --> 00:31:38,560 Speaker 1: thing would you say to Astrod who's a young person 631 00:31:38,920 --> 00:31:43,000 Speaker 1: thinking about buying a property, doesn't matter type properties, but 632 00:31:43,600 --> 00:31:45,400 Speaker 1: or where it is. What would you say to that 633 00:31:46,240 --> 00:31:48,720 Speaker 1: young lady who's got no experience whatsoever. 634 00:31:49,920 --> 00:31:51,720 Speaker 3: I know it sounds really cliche, but to feel the 635 00:31:51,760 --> 00:31:54,840 Speaker 3: fear and do it anyway. It's always going to be 636 00:31:54,880 --> 00:31:58,320 Speaker 3: an overwhelming task looking to buy a property. To not 637 00:31:59,360 --> 00:32:03,520 Speaker 3: complicate the things with comparable sales and research, I'll pivot 638 00:32:03,520 --> 00:32:05,560 Speaker 3: it slightly into you know, if I was even going 639 00:32:05,600 --> 00:32:07,440 Speaker 3: to give myself or even someone else that had just 640 00:32:07,480 --> 00:32:10,680 Speaker 3: started off looking for something to buy, is you know, 641 00:32:10,720 --> 00:32:13,360 Speaker 3: I would tell myself, yes, you can have the area 642 00:32:13,360 --> 00:32:16,560 Speaker 3: that you want to be in. Try and consider those 643 00:32:16,640 --> 00:32:19,120 Speaker 3: areas that are maybe once so about from those areas 644 00:32:19,160 --> 00:32:22,560 Speaker 3: because sometimes a price point can drop off significantly, but 645 00:32:22,640 --> 00:32:25,640 Speaker 3: they are the next areas to go up in value 646 00:32:25,720 --> 00:32:28,800 Speaker 3: or to pop or to experience a price price rise 647 00:32:28,920 --> 00:32:34,920 Speaker 3: or price growth. I would say, don't disclose, don't pour 648 00:32:34,960 --> 00:32:39,240 Speaker 3: your heart at at open homes, don't disclose your life's story, 649 00:32:39,320 --> 00:32:42,200 Speaker 3: don't disclose your budget, don't even disclose the properties that 650 00:32:42,240 --> 00:32:44,320 Speaker 3: your other properties that you're looking at, or properties you've 651 00:32:44,320 --> 00:32:47,480 Speaker 3: missed out on to a selling agent. What a lot 652 00:32:47,520 --> 00:32:50,400 Speaker 3: of young buyers or green buyers don't realize is that 653 00:32:50,440 --> 00:32:52,880 Speaker 3: everything you say to a selling agent and it feels 654 00:32:52,880 --> 00:32:54,760 Speaker 3: good to feel like you can trust a selling agent, 655 00:32:54,800 --> 00:32:57,680 Speaker 3: it does take the stress of but again they're working 656 00:32:57,720 --> 00:32:59,840 Speaker 3: for the vendor and everything you share is being put 657 00:32:59,880 --> 00:33:02,760 Speaker 3: on to a shared database, and that is taking away 658 00:33:02,800 --> 00:33:05,600 Speaker 3: your negotiating power when it comes to buying something. So 659 00:33:06,160 --> 00:33:08,440 Speaker 3: if you don't have their capacity to use a buyers agent, 660 00:33:08,520 --> 00:33:11,600 Speaker 3: or that's not within your scope, I would think outside 661 00:33:11,640 --> 00:33:14,880 Speaker 3: the box, be very very clear on what your budget 662 00:33:14,920 --> 00:33:18,120 Speaker 3: is and what you can spend, and don't then take 663 00:33:18,200 --> 00:33:21,160 Speaker 3: that and try and discount a property based on oh, 664 00:33:21,240 --> 00:33:24,160 Speaker 3: it hasn't got much light, or their priced already based 665 00:33:24,200 --> 00:33:27,360 Speaker 3: on that. Everyone is considering the same thing. If something's 666 00:33:27,360 --> 00:33:29,880 Speaker 3: an option and you want to buy that property, give 667 00:33:29,920 --> 00:33:33,080 Speaker 3: it everything you've got, don't bring emotion into it as 668 00:33:33,120 --> 00:33:35,680 Speaker 3: best you can, and just know that this is not 669 00:33:35,760 --> 00:33:38,400 Speaker 3: your forever property, whether it's an investment or whether it's 670 00:33:38,400 --> 00:33:40,760 Speaker 3: somewhere you're going to be living, and it's the first 671 00:33:40,800 --> 00:33:44,200 Speaker 3: step in hopefully and exciting property journey. So you know, 672 00:33:44,360 --> 00:33:47,560 Speaker 3: have confidence in yourself, buy the property, have no regrets, 673 00:33:47,600 --> 00:33:49,480 Speaker 3: and then you'll be able to take that next step 674 00:33:49,480 --> 00:33:50,240 Speaker 3: when the time is right. 675 00:33:50,800 --> 00:33:53,920 Speaker 1: And of course you probably would have liked to have said, 676 00:33:54,400 --> 00:33:58,480 Speaker 1: have said, get a buyas agent, because by the way, 677 00:33:58,480 --> 00:34:01,040 Speaker 1: that's the whole point it is. A buyers agent will 678 00:34:01,040 --> 00:34:03,000 Speaker 1: take all that pain away, all those things that you're 679 00:34:03,200 --> 00:34:06,440 Speaker 1: just saying to you know, as advising your younger self. 680 00:34:07,760 --> 00:34:09,920 Speaker 1: No one's going to remember that stuff. But that's what 681 00:34:09,960 --> 00:34:12,360 Speaker 1: you guys do for Bretain brothers if you do every day. 682 00:34:12,600 --> 00:34:15,320 Speaker 1: So and just just to top it off, you probably 683 00:34:15,360 --> 00:34:17,600 Speaker 1: should say that you know a buyers agent. The way 684 00:34:17,600 --> 00:34:20,560 Speaker 1: the operator is that you charge the buyer, so the 685 00:34:20,600 --> 00:34:22,440 Speaker 1: buyer will pay you what sort of fee to pay 686 00:34:22,640 --> 00:34:23,080 Speaker 1: two percent? 687 00:34:23,120 --> 00:34:25,400 Speaker 3: What does the deal depends on the client as to 688 00:34:25,840 --> 00:34:28,080 Speaker 3: be price based on complexity of the brief, So we 689 00:34:28,120 --> 00:34:30,440 Speaker 3: take all of that into account. A lot of buyers 690 00:34:30,480 --> 00:34:36,319 Speaker 3: agents do charge a percentage and that's obviously means that 691 00:34:36,480 --> 00:34:38,680 Speaker 3: depending on how much money the property is, so how 692 00:34:38,719 --> 00:34:40,400 Speaker 3: much what the price the property is, how much the 693 00:34:40,400 --> 00:34:43,640 Speaker 3: fite actually is. And again we price on complexity of 694 00:34:43,640 --> 00:34:47,520 Speaker 3: the brief. But you know there are you know, there's 695 00:34:47,560 --> 00:34:51,880 Speaker 3: two components. There is a retainer and that allows us 696 00:34:51,880 --> 00:34:54,040 Speaker 3: to start work and then everything else is on success 697 00:34:54,120 --> 00:34:57,960 Speaker 3: and that is transparent. It's communicated right up front. We 698 00:34:57,960 --> 00:34:59,680 Speaker 3: don't want to want any smokes and mirrors. We don't 699 00:34:59,800 --> 00:35:01,680 Speaker 3: want to but there'll be any surprises. We want the 700 00:35:01,719 --> 00:35:06,200 Speaker 3: client to commit feeling relaxed and knowing what is involved 701 00:35:06,280 --> 00:35:08,120 Speaker 3: in the process and what is going to be happen, 702 00:35:08,200 --> 00:35:12,319 Speaker 3: what the fee will be at the end, and then settlement, Yes, 703 00:35:12,320 --> 00:35:15,120 Speaker 3: on settlement, so when when they pay the last payment 704 00:35:15,120 --> 00:35:18,719 Speaker 3: to the vendor, that's you get your fee too. Yeah, 705 00:35:18,800 --> 00:35:23,799 Speaker 3: it's it's it's typically on exchange, but yeah, yeah, it 706 00:35:23,840 --> 00:35:28,320 Speaker 3: depends on the client. But yeah, the once the retainer 707 00:35:28,400 --> 00:35:31,319 Speaker 3: is paid, we start work and in terms of the 708 00:35:31,360 --> 00:35:35,000 Speaker 3: timing of between then in exchange, look, it can vary, 709 00:35:35,080 --> 00:35:37,759 Speaker 3: you know, typically it's anywhere from a few weeks to 710 00:35:37,840 --> 00:35:40,360 Speaker 3: a few months. I mean, if we've had a property 711 00:35:40,360 --> 00:35:42,320 Speaker 3: lined up already for that client that we've sourced, you 712 00:35:42,440 --> 00:35:44,360 Speaker 3: sometimes can be forty eight hours. 713 00:35:45,200 --> 00:35:48,400 Speaker 2: It depends on the client. But yeah, it's it's. 714 00:35:48,200 --> 00:35:51,120 Speaker 3: Honestly now, knowing what I know now about what a 715 00:35:51,120 --> 00:35:53,920 Speaker 3: buyer's agent does and knowing that the level of investment 716 00:35:54,040 --> 00:35:57,239 Speaker 3: that myself and I know the team will contribute. We're 717 00:35:57,280 --> 00:36:02,120 Speaker 3: all an office of empathetic and and driven women. We're 718 00:36:02,120 --> 00:36:05,239 Speaker 3: an all female agency at the moment, and that's also 719 00:36:05,280 --> 00:36:07,839 Speaker 3: a big point of difference. But we find that that 720 00:36:08,040 --> 00:36:12,399 Speaker 3: ability to connect and empathize with our clients. As I said, 721 00:36:12,400 --> 00:36:15,520 Speaker 3: they become clients for life. The amount of stress and 722 00:36:16,080 --> 00:36:19,239 Speaker 3: emotional burden we take off their plate. You can just 723 00:36:19,320 --> 00:36:23,000 Speaker 3: see them relax and how appreciative they are. And look, 724 00:36:23,080 --> 00:36:25,279 Speaker 3: that's not you know, not to spruit our services. But 725 00:36:25,920 --> 00:36:27,880 Speaker 3: we've never had someone turn around and say it's been 726 00:36:27,920 --> 00:36:30,319 Speaker 3: a waste of money. And believe me, they do. They 727 00:36:30,320 --> 00:36:32,600 Speaker 3: are very honest with how that you've helped or how 728 00:36:32,680 --> 00:36:35,200 Speaker 3: you haven't helped. And as I said, the reason why 729 00:36:35,239 --> 00:36:38,360 Speaker 3: I think it's so incredibly rewarding is the difference it 730 00:36:38,360 --> 00:36:40,720 Speaker 3: can make to people. You know, they're making a purchase 731 00:36:40,760 --> 00:36:43,280 Speaker 3: that the biggest purchase they may ever make in their life. 732 00:36:43,320 --> 00:36:46,080 Speaker 3: And to see that burden taken off their plate and 733 00:36:46,120 --> 00:36:48,840 Speaker 3: to see that process become dare I say even fun 734 00:36:48,920 --> 00:36:52,080 Speaker 3: and enjoyable is just I mean, it takes a cake. 735 00:36:52,160 --> 00:36:53,560 Speaker 2: It's just it's fantastic. 736 00:36:54,000 --> 00:36:57,920 Speaker 1: Well Astra Jorder, Social director of the Board Agency. By though, 737 00:36:57,920 --> 00:36:59,480 Speaker 1: where is the Board Agency located? 738 00:36:59,600 --> 00:37:02,080 Speaker 3: So what is We've got our office in Surrey Hills. 739 00:37:02,160 --> 00:37:06,680 Speaker 3: Sorry at the moment, Marla's for Street four seven one, 740 00:37:06,920 --> 00:37:10,440 Speaker 3: but you know we are. I joke with Biancha that 741 00:37:10,520 --> 00:37:15,120 Speaker 3: my office is my car because we're always on the 742 00:37:15,200 --> 00:37:18,319 Speaker 3: road and working from home, working from the office, so 743 00:37:18,360 --> 00:37:20,600 Speaker 3: wherever it's most convenient, wherever it's easy to meet the client. 744 00:37:20,640 --> 00:37:23,280 Speaker 3: We're meeting clients to cafes, at their homes. It's client 745 00:37:23,360 --> 00:37:26,200 Speaker 3: centric and it's open home centric. So yesterday I wasn't 746 00:37:26,200 --> 00:37:27,759 Speaker 3: at home the whole day. I was on the road 747 00:37:27,800 --> 00:37:30,799 Speaker 3: doing inspections, negotiating from the car, and we secured a 748 00:37:30,800 --> 00:37:32,880 Speaker 3: client for a property for a client yesterday after the 749 00:37:32,880 --> 00:37:36,240 Speaker 3: first open home, so that was majority of the afternoon 750 00:37:36,239 --> 00:37:39,560 Speaker 3: spent on the phone. Others it's at inspections, so it varies. 751 00:37:39,560 --> 00:37:41,840 Speaker 3: But yes, we're based in Surrey Hills, so WE'REES central. 752 00:37:42,080 --> 00:37:45,800 Speaker 3: We can pretty much get to anywhere in Sydney relatively easily, 753 00:37:45,840 --> 00:37:46,640 Speaker 3: depending on traffic. 754 00:37:47,000 --> 00:37:48,399 Speaker 1: Good luck in twenty twenty six. 755 00:37:48,719 --> 00:37:50,520 Speaker 2: Thank you so much, Thank you for having me. 756 00:37:50,719 --> 00:37:51,040 Speaker 1: Welcome