WEBVTT - Ashley Church: Considering different methods of sale 0:00:05.761 --> 0:00:09.681 You're listening to the Weekend Collective podcast from News Talks. 0:00:09.441 --> 0:00:11.081 I'd be I'll tell you what we are going to 0:00:11.121 --> 0:00:13.401 talk about, and we want your calls on eight hundred 0:00:13.641 --> 0:00:16.361 eighty ten eighty in text on nine two nine two, 0:00:17.001 --> 0:00:19.521 because it's the time for you to participate as well, 0:00:19.761 --> 0:00:24.161 in conjunction with our guest. Now, there are there are 0:00:24.161 --> 0:00:27.361 different methods going around obviously all the time. When you 0:00:27.401 --> 0:00:29.361 come to buy and sell your property. You can choose 0:00:29.401 --> 0:00:31.641 to give it together for an auction. You can choose 0:00:31.681 --> 0:00:35.401 to just have a fixed price sale or tender or 0:00:35.481 --> 0:00:39.361 just the sort of asking price, and people go back 0:00:39.401 --> 0:00:43.321 and forth on that, and often the start the way 0:00:43.361 --> 0:00:45.801 you sell your house possibly is dictated by how hot 0:00:45.801 --> 0:00:47.881 the market is, because I remember back in the days 0:00:47.881 --> 0:00:50.041 when the market just seem to be rock and unrolling 0:00:50.081 --> 0:00:55.001 all the time, that it would be almost a no brainer. 0:00:55.041 --> 0:00:57.161 I was always surprised when I'd see people actually list 0:00:57.161 --> 0:00:59.441 their price. But there are also methods of sales that 0:00:59.521 --> 0:01:04.321 turn buyers off. So how did you sell your house 0:01:05.281 --> 0:01:09.081 and did you were you happy with the method that 0:01:09.121 --> 0:01:12.241 you used? But also if you're a buyer, is there 0:01:12.241 --> 0:01:14.961 a type of is there a method of sale that 0:01:15.121 --> 0:01:18.201 either one attracts you because you're comfortable with that sort 0:01:18.241 --> 0:01:20.761 of process and you like it. An example might be 0:01:20.841 --> 0:01:24.281 there are people who love people naming a price, saying, look, 0:01:24.321 --> 0:01:27.561 this is for sale, the asking prices I know, five 0:01:27.681 --> 0:01:29.841 hundred thousand or a million or whatever, and you like 0:01:29.921 --> 0:01:32.321 it because it gives you something to work with, Whereas 0:01:32.361 --> 0:01:36.481 I think for me, there's a method of sale called 0:01:36.521 --> 0:01:39.321 tender where you basically put in your best offer. And 0:01:39.801 --> 0:01:42.001 I must say, I kind of think if there was 0:01:42.041 --> 0:01:46.761 another property to look at, then that would be that 0:01:46.801 --> 0:01:48.321 would be a turn off for me with the tender. 0:01:48.361 --> 0:01:52.241 So what is the method of selling that you're attracted 0:01:52.281 --> 0:01:56.481 to as either a buyer or a seller? And I 0:01:56.561 --> 0:01:59.601 think we've got Ashley on now as should we got 0:01:59.601 --> 0:01:59.921 you there? 0:02:00.481 --> 0:02:01.961 Oh, been here the whole time I have? 0:02:02.121 --> 0:02:04.401 Do you go, oh, that's right. Sorry, we just had 0:02:04.401 --> 0:02:07.041 a little bit of a under shoot. Hey, you've bought 0:02:07.081 --> 0:02:08.121 and sold a few houses? 0:02:08.681 --> 0:02:09.441 Yeah? 0:02:09.601 --> 0:02:12.081 Have you used different sale methods? 0:02:12.521 --> 0:02:16.121 I have, and I have my preferred ones, I guess 0:02:16.161 --> 0:02:20.561 like everybody does so for me, And it's probably also 0:02:20.561 --> 0:02:23.521 a reflection of how I prove while I'm looking forward, 0:02:23.521 --> 0:02:27.081 I'm looking to buy a property I like the idea 0:02:27.081 --> 0:02:29.441 of having a range. But this is sort of a 0:02:29.561 --> 0:02:31.721 range between such and such and such and such, which 0:02:31.761 --> 0:02:34.721 is represented by real estate agents in different different ways. 0:02:34.761 --> 0:02:37.561 Some of them will talk about buyers price over or 0:02:37.601 --> 0:02:38.561 buyers off or over. 0:02:39.801 --> 0:02:41.801 Are you talking as a seller or a buyer here. 0:02:41.881 --> 0:02:44.321 Well, I'm talking about both because for me they're the 0:02:44.361 --> 0:02:47.841 same thing. So whether I'm buying, whether I'm selling, I 0:02:47.921 --> 0:02:50.121 generally want to have some idea of what the range 0:02:50.161 --> 0:02:51.841 is so that people have got some sort of indication. 0:02:51.881 --> 0:02:53.841 There's a range of reasons real estate agents when they're 0:02:53.881 --> 0:02:56.361 selling don't do that because they're in a kind they're 0:02:56.401 --> 0:02:58.441 kind of in a conflicted position because on the one hand, 0:02:58.441 --> 0:03:00.081 they want to get as many people as possible to 0:03:00.121 --> 0:03:02.121 come through and have a look at the place. On 0:03:02.161 --> 0:03:03.881 the other hand, they want to maximize the price that 0:03:03.881 --> 0:03:07.841 they can get for their their vendor. And what they 0:03:07.841 --> 0:03:10.601 don't want to do is miss out on that somebody 0:03:10.641 --> 0:03:12.161 who's going to come along and pay, you know, one 0:03:12.241 --> 0:03:14.161 hundred grand over the odds because they love the place 0:03:14.521 --> 0:03:17.201 so so this which is why so while it's frustrating 0:03:17.201 --> 0:03:18.801 for us when we're buying, that's why they do it. 0:03:18.921 --> 0:03:20.681 They're they're they're on the one hand, they want to 0:03:20.681 --> 0:03:21.681 get you to come and have a look. On the 0:03:21.681 --> 0:03:25.121 other hand, they don't want to sort of constrain themselves 0:03:25.201 --> 0:03:27.201 to to something which may not be as much as 0:03:27.201 --> 0:03:29.401 you might otherwise have been prepared to pay. But for me, 0:03:29.481 --> 0:03:35.681 if I'm if I'm selling, generally, I would probably want 0:03:35.721 --> 0:03:38.561 to give some sort of indication. Keeping in mind, for 0:03:38.921 --> 0:03:40.481 based on what I just said, I'd still want so 0:03:40.761 --> 0:03:43.561 I'd still want there to be enough flexibility in what 0:03:43.601 --> 0:03:45.801 the agent did to take account of somebody who might 0:03:45.881 --> 0:03:48.161 be prepared to pay a bit more if I'm buying. 0:03:48.641 --> 0:03:51.081 One of my pet hates is is those sites that 0:03:51.161 --> 0:03:54.081 give no indication whatsoever what the prices of the property. 0:03:54.081 --> 0:03:56.281 Actually, I'm so relieved to hear you say that because 0:03:56.841 --> 0:04:00.961 I I mean, I guess so you're a you're an 0:04:01.041 --> 0:04:05.481 experienced property investor and participant in the market, and because 0:04:05.521 --> 0:04:09.121 the argument obviously sometimes against what you've just said. A 0:04:09.161 --> 0:04:11.641 real estate agent would say, well, if serious bars will 0:04:11.641 --> 0:04:13.761 get a handle on what a property's worth, but I 0:04:13.801 --> 0:04:16.321 do like to know what the expectations. 0:04:15.601 --> 0:04:18.241 Are, and you know that's that's a silly comment. And 0:04:18.641 --> 0:04:21.561 to be honest, if somebody says that they're in anexperienced agent, 0:04:21.641 --> 0:04:25.761 because it's actually not true. But there is one caveat 0:04:25.761 --> 0:04:27.161 to what I just said, and that is that in 0:04:27.321 --> 0:04:29.721 theory and all this stuff's good in theory. In theory, 0:04:29.841 --> 0:04:33.201 all of the major search engines a one roof and 0:04:33.241 --> 0:04:37.161 its competitors. When you go in and have a look, 0:04:37.201 --> 0:04:39.481 you fill out certain search criteria, of which one is 0:04:39.601 --> 0:04:42.041 likely to be the price range that you're looking at. 0:04:42.401 --> 0:04:45.561 So in theory, if it shows you a property, that 0:04:45.641 --> 0:04:48.081 property is within that price range. So that's the theory. 0:04:48.161 --> 0:04:49.961 So even though it doesn't tell you what it is, 0:04:50.081 --> 0:04:52.041 in theory, it should be within the range that you 0:04:52.081 --> 0:04:55.441 actually gave to the search engine. The problem I've got 0:04:55.481 --> 0:04:56.881 with that, though, is I think from time to time 0:04:56.921 --> 0:04:59.081 those search engines expand that range a little bit. So 0:04:59.121 --> 0:05:01.361 although you might have said, you know, eight hundred to 0:05:01.761 --> 0:05:04.321 a million, it will show you properties at one point 0:05:04.361 --> 0:05:06.201 one on one point too, because it thinks, you know, 0:05:06.361 --> 0:05:07.961 we all lie and we've actually got a little bit 0:05:07.961 --> 0:05:10.001 more flexibility to spend more than we said we would. 0:05:10.401 --> 0:05:13.801 So so that the theory doesn't necessarily meet the reality. 0:05:15.001 --> 0:05:18.241 And what circumstances have you or would you go by auction? 0:05:20.081 --> 0:05:23.361 So I have a love hate relationship with actions and auctions, 0:05:23.481 --> 0:05:25.641 So in real estate agents will have me for saying this, 0:05:25.761 --> 0:05:27.601 and every time I do you probably get complaints from 0:05:27.641 --> 0:05:30.121 some of them. I think real estate agents are a 0:05:30.121 --> 0:05:33.001 fantastic tool and a hot market, so when the market's 0:05:33.041 --> 0:05:33.881 going really. 0:05:33.641 --> 0:05:38.081 Well, sorry auctions, Yes, sorry, what did I say? You said? 0:05:38.081 --> 0:05:39.641 Real estate agents are good on a hot. 0:05:41.121 --> 0:05:45.161 When when the market's going really well, and options are 0:05:45.161 --> 0:05:46.801 good because the whole point of an auction is to 0:05:46.841 --> 0:05:49.801 maximize competition. It's to get all the people that are 0:05:49.841 --> 0:05:51.361 interested in and get one of them to pay the 0:05:51.361 --> 0:05:53.401 most possible. And the way you do that is by 0:05:53.401 --> 0:05:55.441 having them in a room where're hearing other people offering 0:05:55.961 --> 0:05:58.001 other amounts and they can decide whether or not they can. 0:05:57.881 --> 0:05:58.521 Pay more than that. 0:05:59.001 --> 0:06:01.201 So in a hot market where things are going really well, 0:06:01.201 --> 0:06:03.441 in auction and theory should actually be a really good 0:06:03.481 --> 0:06:05.761 tool because it maximizes the you to get the best 0:06:05.761 --> 0:06:07.601 price possible from the people who are there prepared to 0:06:07.601 --> 0:06:11.401 actually buy your property. In a flat market or a 0:06:11.401 --> 0:06:14.401 declining market, I think they're a dog. And the reason 0:06:14.441 --> 0:06:16.441 I think they are a dog is because the I've 0:06:16.481 --> 0:06:19.001 always seen their sole purpose as being an opportunity for 0:06:19.041 --> 0:06:21.081 the real estate agent basically to whack you around the 0:06:21.121 --> 0:06:23.401 head and get your expectations of what the price the 0:06:23.401 --> 0:06:26.841 property is going to be down, by which I mean 0:06:27.201 --> 0:06:29.121 you go into that room, there's only one person there. 0:06:29.161 --> 0:06:30.761 They may or may not be prepared to put an 0:06:30.761 --> 0:06:33.161 off a forward that that offer could be two hundred 0:06:33.201 --> 0:06:36.001 grand less than your expectations. The agent then goes comes 0:06:36.041 --> 0:06:37.721 back to you and says, well, look, the market's spoken, 0:06:37.761 --> 0:06:40.041 therefore that's what the property's worth. And so I've always 0:06:40.041 --> 0:06:42.281 been quite cynical about the use of them in a 0:06:42.281 --> 0:06:45.321 flat market. Having said that, I've actually had an experience 0:06:45.361 --> 0:06:49.081 in the last twelve months where, and obviously it's been 0:06:49.081 --> 0:06:50.921 a flat market, where I did sell a property and 0:06:51.281 --> 0:06:53.401 there was only one buyer and they were actually able 0:06:53.401 --> 0:06:55.601 to maximize it, not because there was competition in the 0:06:55.681 --> 0:06:58.121 room on the day, but because the fact that they 0:06:58.161 --> 0:06:59.721 had that person in the room meant that they then 0:06:59.801 --> 0:07:02.241 had something that they could follow up afterward and eventually 0:07:02.241 --> 0:07:04.881 get a deal out of. So there are circumstances when 0:07:04.881 --> 0:07:07.201 they can work. But I'm much more cynical about them 0:07:07.201 --> 0:07:09.001 in flat markets than i am in hot markets. 0:07:09.201 --> 0:07:11.881 Yeah, but we have had In the course of the 0:07:11.921 --> 0:07:14.441 one Roufradier show, we have had auctioneers on and the 0:07:14.561 --> 0:07:16.521 argument is like, well, if you are looking to sell 0:07:16.561 --> 0:07:18.921 your house, then you will find out where the market 0:07:19.001 --> 0:07:21.081 is at. But I tend to agree with you that 0:07:21.081 --> 0:07:24.001 they are Yeah, that I tend to agree with you 0:07:24.081 --> 0:07:26.001 as a non expert, But if somebody has had a 0:07:26.041 --> 0:07:28.801 lot of conversations about it, at least that the vibe 0:07:28.881 --> 0:07:31.081 I get is that they're a great tool for real 0:07:31.161 --> 0:07:34.001 estate agents to put pressure on the seller to go 0:07:34.041 --> 0:07:36.921 ahead with something and therefore realize their commission. And isn't 0:07:36.961 --> 0:07:39.241 that very cynical because they might be real estate agents 0:07:39.241 --> 0:07:42.041 listening going I don't like what you've said there, but 0:07:42.801 --> 0:07:44.681 I just feel like that, yeah. 0:07:44.721 --> 0:07:46.401 And to be fair, I mean it implies a little 0:07:46.401 --> 0:07:48.521 real estate agents are cynical and all they're out there 0:07:48.561 --> 0:07:50.401 to do is beat their client down, which is not true. 0:07:50.441 --> 0:07:53.161 Sometimes it's about basically creating some sort of reality. So 0:07:53.201 --> 0:07:55.121 you might have somebody who remembers it the property in 0:07:55.121 --> 0:07:57.321 twenty twenty one was worth one point five and it's 0:07:57.361 --> 0:07:59.961 now worth one point one, and they need some sort 0:08:00.001 --> 0:08:02.201 of reality check to actually make very clear to them 0:08:02.201 --> 0:08:04.241 that that change and it's value has taken place, and 0:08:04.241 --> 0:08:06.081 an auctions are great to do that. There are other 0:08:06.121 --> 0:08:08.961 ways to achieve it, So you know, it's not always 0:08:09.081 --> 0:08:11.521 used for cynical purposes, but I think sometimes it is, 0:08:11.561 --> 0:08:14.241 particularly by perhaps new or lazy agents. 0:08:15.281 --> 0:08:21.841 What are the circumstances tender? That's the one I don't understand. 0:08:22.041 --> 0:08:25.121 I mean, I think I've seen tenders when there's a 0:08:25.161 --> 0:08:27.801 property where people maybe don't want the sort of high 0:08:27.881 --> 0:08:31.561 profile auction type of thing, and the property is incredibly 0:08:31.601 --> 0:08:33.881 expensive and they're just looking for, you know, people who 0:08:33.881 --> 0:08:35.481 have got the money to make a serious offer in 0:08:35.521 --> 0:08:38.321 a way, you go but tend anyway. That's my very crude, 0:08:39.401 --> 0:08:42.761 very crude and simplistic take on tenders. But I just 0:08:42.761 --> 0:08:44.681 don't understand why anyone will go for a tender. 0:08:45.441 --> 0:08:48.481 Well, there are circumstances where tenders work. I suppose the 0:08:48.561 --> 0:08:51.121 cynicism I've got about tenders, and I'm going to contradict 0:08:51.161 --> 0:08:52.601 this in a second, because I do work. 0:08:53.401 --> 0:08:55.281 I love it when you disagree with yourself, because. 0:08:55.081 --> 0:09:02.081 It's at least the cynicism I've got about them is 0:09:02.081 --> 0:09:04.201 that tenders, by nature, if you think about where you 0:09:04.281 --> 0:09:06.801 use tenders and other areas of life other than real estate. 0:09:06.881 --> 0:09:09.321 They tend to be a way of reducing the price 0:09:09.361 --> 0:09:11.521 and getting the price down. And in fact, the exact 0:09:11.561 --> 0:09:14.201 reality of that is that if you bid on a 0:09:14.241 --> 0:09:16.601 property at tender, and this is one of the good 0:09:16.601 --> 0:09:20.121 things about it, it gives you the opportunity to put 0:09:20.161 --> 0:09:22.041 a cheeky price in that you may not put or 0:09:22.081 --> 0:09:23.841 may not be accepted by an agent if you will 0:09:23.841 --> 0:09:25.761 putting that to them face to face. So, for example, 0:09:25.801 --> 0:09:28.441 in theory, a real estate agent is supposed to present 0:09:28.521 --> 0:09:31.641 every offer to a client, but if you win with 0:09:31.681 --> 0:09:34.681 a really cheeky offer, a client will find a way 0:09:34.721 --> 0:09:37.521 of dissuading you from putting that offer on paper because 0:09:37.521 --> 0:09:39.161 they'll say that it's unfair of the client and they're 0:09:39.161 --> 0:09:41.841 not going to present it. Whereas with a tender you 0:09:41.881 --> 0:09:43.761 can do that cheeky offer and it may well be 0:09:43.841 --> 0:09:48.041 that the client accepts it. So on those circumstances it 0:09:48.081 --> 0:09:51.081 has some value to a buyer, but not necessarily to 0:09:51.681 --> 0:09:54.721 the purchaser. The flip side of that is that's a 0:09:54.801 --> 0:09:57.641 quick way of getting a sort of an indication of 0:09:57.681 --> 0:10:00.081 where the market's at on a particular day, So rather 0:10:00.121 --> 0:10:01.881 than waiting around for a long period of time when 0:10:01.921 --> 0:10:04.561 the market's slow. A tender forces people to say, okay, 0:10:04.561 --> 0:10:05.761 if I'm going to by it, this is what I'm 0:10:05.761 --> 0:10:08.281 prepared to spend. So it does get a decision much 0:10:08.281 --> 0:10:11.201 more quickly than you might expect in a market otherwise. 0:10:11.121 --> 0:10:15.041 Are there, okay, are there methods of sale that are 0:10:15.161 --> 0:10:19.161 more applicable to different circumstances. So you've mentioned the obvious 0:10:19.201 --> 0:10:21.681 one obviously is in a hot market, you know you've 0:10:21.721 --> 0:10:24.081 got a lot of interest there, then probably why wouldn't 0:10:24.081 --> 0:10:25.561 you go for an auction because you get everyone in 0:10:25.561 --> 0:10:27.121 the same room and you're going to squeeze them through 0:10:27.161 --> 0:10:30.601 everything sent you can get. But for instance, if you 0:10:30.721 --> 0:10:34.921 are in straightened circumstances, it's or the soft market, or 0:10:35.041 --> 0:10:37.521 you're desperate to sell, but you don't want to sell 0:10:37.601 --> 0:10:39.321 for you know, some people are selling it a loss 0:10:39.361 --> 0:10:42.281 these days. I think ten percent of the property sales 0:10:42.281 --> 0:10:46.881 are at a loss. What would your advice be under 0:10:46.921 --> 0:10:48.241 those sort of circumstances. 0:10:48.721 --> 0:10:51.441 Oh, so, relative to what you just said. So in 0:10:51.481 --> 0:10:54.241 a hot market, generally you can't go too far past 0:10:54.241 --> 0:10:57.561 an auction. It's just a maximizing competition and getting people 0:10:57.561 --> 0:10:59.961 into a room. So when the market's going you know, 0:11:00.121 --> 0:11:02.961 gang busters get into an auction room and see what's 0:11:03.121 --> 0:11:05.601 your cheap, probably get a bit more than you might 0:11:05.641 --> 0:11:08.041 have through any other method in a flat market or 0:11:08.041 --> 0:11:10.801 a market that's only just starting to climb again. I 0:11:10.921 --> 0:11:12.601 tend to be led a little bit like that by 0:11:12.641 --> 0:11:14.441 the advice of the agent, because it's not just different 0:11:14.441 --> 0:11:16.921 methods at work. It's also different methods work in different areas. 0:11:17.321 --> 0:11:19.201 So it's stranger as it might sound. There are different 0:11:19.201 --> 0:11:21.481 ways that sell that work in some areas and not others. 0:11:22.361 --> 0:11:24.201 And so you know, we're tender. We just talked about 0:11:24.201 --> 0:11:27.881 tender or buyers and quarry those and I can't give 0:11:27.881 --> 0:11:29.841 you specific examples, but I know there's parts of the 0:11:29.881 --> 0:11:32.081 country where and it's probably because you've got two or 0:11:32.081 --> 0:11:34.201 three agents who've used them really effectively for a long time, 0:11:34.201 --> 0:11:36.841 but they just become kind of like the default, and 0:11:36.961 --> 0:11:39.961 whereas there'll be other methods that you might use in 0:11:39.961 --> 0:11:41.681 another part of the country that won't work at all. 0:11:41.721 --> 0:11:43.441 So I tend to be led by the agent and 0:11:43.841 --> 0:11:46.601 sort of maximize their advice on how to do those things. 0:11:46.721 --> 0:11:49.881 There is also an element of what's in fashion, and 0:11:50.201 --> 0:11:52.361 by which I mean that there are methods of selling 0:11:52.401 --> 0:11:53.921 now that didn't exist five years ago. 0:11:55.641 --> 0:11:58.441 What are they? Because I come up off the top 0:11:58.481 --> 0:12:00.921 of my head with a few basic ways of selling. 0:12:01.001 --> 0:12:03.761 You've got tender, You've got by negotiation, You've got asking price, 0:12:03.801 --> 0:12:05.441 which is negotiation. 0:12:05.641 --> 0:12:05.961 Quarry. 0:12:06.401 --> 0:12:08.241 Ye, there's a arrange them. I haven't got a list 0:12:08.241 --> 0:12:09.881 of them in front of me. There's probably about ten 0:12:09.921 --> 0:12:11.721 of them if you had them all up and and 0:12:11.801 --> 0:12:14.001 although to be fear of those ten, probably some of 0:12:14.041 --> 0:12:16.001 them are different words to describe the same thing. So 0:12:16.041 --> 0:12:18.641 when you actually get down to the real basics, there's probably. 0:12:18.441 --> 0:12:20.681 Ah the other one. Actually, we're going to go to 0:12:20.681 --> 0:12:22.161 a call in a second. We've got some calls coming in. 0:12:22.201 --> 0:12:24.721 But deadline sale as well well. 0:12:24.721 --> 0:12:26.561 A deadline sale is not much different to a tender, 0:12:26.601 --> 0:12:29.121 to be honest, because of it effectively it does the 0:12:29.161 --> 0:12:31.561 same thing. A deadline sale is basically a way of saying, 0:12:31.561 --> 0:12:33.001 you've got to get your offer in by such on 0:12:33.041 --> 0:12:35.161 such a date. The only difference between the deadline sale 0:12:35.201 --> 0:12:37.241 and a tender is a tender is basically a closed 0:12:37.921 --> 0:12:41.001 sealed envelope arrangement, whereas a deadline sales basically just getting 0:12:41.001 --> 0:12:43.001 your offer in on time. But the principle is the 0:12:43.041 --> 0:12:45.561 same in terms of getting somebody to the market within 0:12:45.601 --> 0:12:46.921 a specified time period. 0:12:47.441 --> 0:12:49.041 Okay, we're going to take some calls on this. How 0:12:49.081 --> 0:12:52.241 should you sell your house? And are there different methods 0:12:52.241 --> 0:12:55.121 of auction for different types of market? And it has actually suggested. 0:12:55.161 --> 0:12:57.561 I do remember when I was in Australia, and I 0:12:57.561 --> 0:13:00.201 can't remember which town was which that there was. I 0:13:00.201 --> 0:13:03.561 think there was a predilection for auctions in one town 0:13:04.121 --> 0:13:05.841 that I was in, and then in another place it 0:13:05.921 --> 0:13:08.961 was all sort of sale by private treaty or asking price. 0:13:09.201 --> 0:13:11.601 And there are regional differences because it's just what people 0:13:11.601 --> 0:13:13.281 are used to. So we want your cause on this 0:13:13.401 --> 0:13:15.761 eight hundred and eighty ten eighty how should you buy 0:13:15.841 --> 0:13:18.681 or sell your house? Also you can throw in are 0:13:18.681 --> 0:13:21.641 there tactics you use as a seller or a buyer 0:13:21.721 --> 0:13:23.321 to make sure it gets done? Not just the method 0:13:23.321 --> 0:13:25.281 of sale, but for instance, you get the aggressive buyer 0:13:25.321 --> 0:13:28.001 who goes listen, I'll give you an extra hundred thousand 0:13:28.001 --> 0:13:30.521 dollars on your asking price. And it's current till five 0:13:30.521 --> 0:13:32.521 o'clock in the afternoon. I don't know if you really 0:13:32.521 --> 0:13:35.441 want to get the deal done. Eight hundred eighty ten 0:13:35.601 --> 0:13:38.401 eighty is the number right, let's get into it, Tony High. 0:13:40.201 --> 0:13:43.681 Good afternoon, Joable. I just want to make a quick option. 0:13:45.001 --> 0:13:47.281 I think a lot of the time they're a great 0:13:47.281 --> 0:13:53.241 way to get exposure for property. But really in theory 0:13:53.281 --> 0:13:55.441 you're supposed to almost have the money and the bank 0:13:55.721 --> 0:13:58.681 buy or really because you have to be a cash 0:13:58.801 --> 0:14:02.241 and conditionable fly to even certain Now, I've been to 0:14:02.321 --> 0:14:05.921 a lot of options and quite often they don't actually 0:14:06.121 --> 0:14:12.761 waste the boundersploy it. Sometimes buyers can actually negotiate well 0:14:12.801 --> 0:14:15.161 after the option if they if they can, you know, 0:14:15.321 --> 0:14:18.801 basically put it up. We're a subject for finance. So 0:14:19.241 --> 0:14:22.001 I just made the small point about auctions. I think 0:14:22.001 --> 0:14:27.121 there waiting good exposure, especially in these doops that they've 0:14:27.161 --> 0:14:29.721 seen laking in Auckland where you get a lot of 0:14:29.721 --> 0:14:32.721 the deals putting against themselves. There's been a few out 0:14:33.601 --> 0:14:35.721 manu Era I think once the other day, and all 0:14:36.641 --> 0:14:39.441 those sort of areas do I stay they were quite 0:14:39.441 --> 0:14:41.921 well and that as well as well as desirable. 0:14:41.961 --> 0:14:44.761 Are you what's your preferred actually to Tony, by the way, 0:14:44.801 --> 0:14:49.321 your receptions kind of marginal. If you've got an idea then, 0:14:49.841 --> 0:14:51.401 because it's amazing how much of the difference when I 0:14:51.401 --> 0:14:53.041 say to people switch is and they goes out there 0:14:53.041 --> 0:14:56.121 and I go ahead, amazingly, what's your preferred method of sale, 0:14:56.281 --> 0:14:57.721 Tony or buying? 0:14:59.241 --> 0:15:02.601 Well, I've always basically put it an asking price, and 0:15:02.641 --> 0:15:07.281 that's actually what I want from I don't get off. 0:15:08.681 --> 0:15:12.841 And I was in a situation once I made then 0:15:13.481 --> 0:15:15.441 said they wanted more, so I walked away with the 0:15:15.441 --> 0:15:19.921 whole deal, you know. Yeah, the decisive. 0:15:21.321 --> 0:15:25.921 Just sorry, just dropping out of it there to actually 0:15:25.961 --> 0:15:27.161 jump in there to. 0:15:27.121 --> 0:15:28.921 Pick up on on on a comment Tony made which 0:15:28.961 --> 0:15:30.881 I should have made earlier, because he's quite right, and 0:15:31.241 --> 0:15:33.001 I'm I'm kind of familiar with these figures for the 0:15:33.041 --> 0:15:34.641 Auckland market. They might be different for the rest of 0:15:34.681 --> 0:15:37.241 the country. A somebody from the Auckland might want to 0:15:37.281 --> 0:15:39.641 ran correct the stuff I'm wrong, but yeah, he's quite 0:15:39.721 --> 0:15:42.241 right with the clearance rates. On clearance rates being how 0:15:42.241 --> 0:15:45.521 many sell is, I think currently it's sort of a third. 0:15:45.601 --> 0:15:48.081 Don't about a third seal it option and the other 0:15:48.121 --> 0:15:50.761 third sell after the option, So which is interesting because 0:15:50.801 --> 0:15:54.081 because it means that the action itself isn't necessarily where 0:15:54.081 --> 0:15:55.561 you're going to sell the property, but it's going to 0:15:55.561 --> 0:15:57.521 give you to use Tony's word that exposure, which is 0:15:57.561 --> 0:15:59.401 actually going to get you a sale beyond it. The 0:15:59.441 --> 0:16:01.721 other point you made, which is an interesting one, is 0:16:02.281 --> 0:16:04.801 with regard to having to have your money pre arranged. 0:16:05.521 --> 0:16:09.881 And so the technically is correct, but often first time 0:16:09.881 --> 0:16:12.041 buyers in particular, we'll say to an agent, look, I 0:16:12.041 --> 0:16:14.041 want to buy, we haven't got our finance arrange, and 0:16:14.041 --> 0:16:16.561 often the agent will say, will look, come along anyway. 0:16:16.601 --> 0:16:18.081 And the reason they'll do that because I know that 0:16:18.081 --> 0:16:19.601 there's a chance that that's going to be passed in 0:16:19.641 --> 0:16:22.441 at the auction, but there's an opportunity to purchase later 0:16:22.481 --> 0:16:25.161 on where you can still get your pre approval in place. 0:16:25.481 --> 0:16:28.761 So he's technically correct, but there are circumstances where that's 0:16:28.761 --> 0:16:29.521 a little bit different. 0:16:30.361 --> 0:16:33.281 Actually, I think we sometimes you can be in danger 0:16:33.281 --> 0:16:34.961 of having a crack at real estate agents, but it's 0:16:34.961 --> 0:16:37.601 always worth remembering that they are working for the seller 0:16:38.801 --> 0:16:41.041 as well. And that's just something that I think because 0:16:41.081 --> 0:16:45.801 you know, obviously, I think good real estate agents treat 0:16:45.601 --> 0:16:48.481 both buyers and sellers well because guess what, that buyer 0:16:48.601 --> 0:16:50.481 is going to come back as a seller one day, 0:16:50.561 --> 0:16:52.201 and you want their business, don't you, So. 0:16:53.921 --> 0:16:55.841 You're right it is a truism to say they're working 0:16:55.841 --> 0:16:58.161 for the seller. I think it's probably a little bit 0:16:58.161 --> 0:17:00.001 too blunt though in terms of the reality, I think 0:17:00.041 --> 0:17:01.641 there is as you say, is that there is sort 0:17:01.681 --> 0:17:03.601 of a bit of a flux there and so they 0:17:03.641 --> 0:17:05.441 do tend to try and do the beast buy. Certainly 0:17:05.441 --> 0:17:07.201 the good ones try to do the best by both parties. 0:17:07.241 --> 0:17:09.561 Well, yeah, I think they work. You could say that 0:17:10.241 --> 0:17:12.521 more generously, they work for the buy when it comes 0:17:12.561 --> 0:17:16.241 to finding them a property. But in terms of if 0:17:16.281 --> 0:17:18.561 you've got a particular price you're prepared to go for 0:17:18.881 --> 0:17:22.001 you and you want to keep that to yourself, then 0:17:22.081 --> 0:17:24.281 you should keep it to yourself and not share it 0:17:24.281 --> 0:17:26.481 with your best mate the real estate agent. Be like, 0:17:26.641 --> 0:17:29.361 funnily enough, we've just found nut to do a deal 0:17:29.401 --> 0:17:33.881 for just that price. Anyway, Yeah, anyway, we actually we 0:17:33.921 --> 0:17:35.241 need to take a break. Weook take a moment and 0:17:35.321 --> 0:17:38.241 come back. We're with Ashley Church. How have you sold 0:17:38.241 --> 0:17:41.801 your home? Did you regret it? What method is the 0:17:41.801 --> 0:17:43.361 one to go for? Do you think? And at the 0:17:43.361 --> 0:17:46.321 moment we are talking in the context of maybe a 0:17:46.401 --> 0:17:49.801 softer market than it has been anticipated, But it's the 0:17:49.841 --> 0:17:52.641 big question for anyone who's getting in the who's wanting 0:17:52.681 --> 0:17:55.841 to buy or sell our houses? The methods of sale 0:17:55.881 --> 0:17:58.321 that either attract or repel you O eight one hundred 0:17:58.321 --> 0:18:01.081 and eighty ten eighty twenty six Past four News Talks 0:18:01.081 --> 0:18:03.161 at b with Tim Beveris. We're talking about the method 0:18:03.161 --> 0:18:05.361 of sale. My guest is Ashley Church on us the 0:18:05.401 --> 0:18:07.441