Amid the COVID-19 pandemic more agents and vendors will opt for private sales as bans on gatherings have taken effect around the country.<\/strong><\/p>\n Prime Minister Scott Morrison announced on Tuesday that all in-room auctions and group open homes would cease from midnight Wednesday, leading the industry to take the events fully digital, with bidding done online or over the phone.<\/p>\n In response, realestate.com.au has launched a digital inspections feature allowing prospective buyers and renters to do property<\/strong> tours remotely.<\/p>\n The Ray White group confirmed its circa 1000 offices would host private auctions over online streaming platforms from Thursday, with auctioneers accepting bids over the phone or online. Private treaty sales would also continue.<\/p>\n The McGrath network reported 134 properties were currently uploaded to its online auction platform, while LJ Hooker said it was also rolling out digital auctions across the country.<\/p>\n If you\u2019re not sure what this means for your property<\/strong> journey buyers Advocate Sam Lally has got plenty of tips to make sure you get the best deal.<\/p>\n \u201cBefore you even start seriously looking, you should inspect at least 100 properties,\u201d Lally says.<\/p>\n You should be at a point where you can confidently say what any property<\/strong> in the marketplace is worth\u00a0 \u2013 not just the ones you\u2019re interested in. Only then will you be able to understand your desired market and what different styles of properties are worth.<\/p>\n \u201cYou should be able to point to a property and say something like: South Yarra, balcony, north-facing \u2013 it\u2019s going to sell between $550,000 and $600,000.\u201d<\/p>\n Know the market in the area you\u2019re buying like the back of your hand. Picture: Kate Hunter<\/p>\n<\/div>\n If you\u2019re buying right now\u00a0\u2013 you\u2019re in a sellers\u2019 market. \u201cPrices are getting beaten every other weekend,\u201d Lally says.<\/p>\n \u201cWe\u2019re in a sellers\u2019 market and I don\u2019t see that letting up for a while.\u201d<\/p>\n Which is backed up by search data from realestate.com.au, despite fears around the Coronavirus there are still many more buyers searching than this time last year.<\/p>\n So, you\u2019ve found a property that\u2019s not going to auction. The first thing you should do is travel to the property<\/strong> and arrange for a private inspection.<\/p>\n There are two reasons for this:<\/p>\n Number one is the obvious need\u00a0to scope out the property.\u00a0Lally says you need to observe your surroundings with hawklike vision.<\/p>\n \u201cI\u2019m looking at everything when I visit a property \u2013 not just whether it\u2019s got two bedrooms, two bathrooms and a car space. I\u2019m looking at home orientation, carports, position on the block, other houses<\/a> on the block \u2013 anything that could affect the position in the marketplace.\u201d<\/p>\n It\u2019s best to learn everything you can about your potential new home before you get too attached. Picture: realestate.com.au<\/p>\n<\/div>\n Number two is the opportunity to start a relationship with the agent that benefits you.<\/p>\n \u201cAt the end of the day, the\u00a0agent is working for the vendor,\u201d Lally says. \u201cBuyers have got to remember this.\u201d<\/p>\n If you can form a friendly relationship with the agent you can ask the questions you need to know in a personal setting.<\/p>\n You can question the agent about other properties \u2013 showing off your knowledge of the marketplace and your willingness to look around to find the best deal. Remember, you don\u2019t want to appear desperate.<\/p>\n Here are some of the questions\u00a0an agent will be able to answer:<\/p>\n \u201cMy biggest tip is preparedness \u2013 do your research,\u201d Lally says. \u201cYou\u2019re up against a match-fit negotiator who does this every day.\u201d<\/p>\n Once your questioning is done and you\u2019ve made considerable observations, you should be able to confidently place a value on the property.<\/p>\n If there\u2019s no listed<\/a> asking price,\u00a0it\u2019s time to call back the agent and ask: \u201cWhat are you chasing?\u201d Based on your research you should be prepared for the answer. \u00a0If it doesn\u2019t match up, tell them.<\/p>\n Before you start reeling off figures, you should ask the agent what their offers process is. Do you get a right of reply?<\/p>\n Offers processes can differ from state to state so make sure you understand yours\u00a0fully before you proceed. It can be advisable to check with a solicitor to make sure they\u2019re ok\u00a0with the process the agent has advised.<\/p>\n More tips: Making an offer<\/a> on a property<\/strong><\/p>\n This\u00a0is the hard part \u2013 negotiating.<\/p>\n \u201cI\u2019ll make an offer based on the information I\u2019ve prepared and cited \u2013 no one can argue with comparable sales,\u201d Lally says.<\/p>\n \u201cWhatever you do, don\u2019t put your best offer forward first,\u201d Lally says. If the vendor is really motivated to sell, your first offer might be accepted, but usually, the agent will ask for more. \u201cIt\u2019s like an auction\u2026 behind closed doors.\u201d<\/p>\n At this point, it pays to learn more about other offers. You\u2019re already up against the reserve price of the agent and the vendor \u2013 but are there other buyers?<\/p>\n If so, ask the agent:<\/p>\n If the agent answers \u2018yes\u2019 to the first\u00a0three questions,\u00a0ask the agent who is making the offer. According to Lally, most good agents understand their marketplace and know which buyers are active. It might be difficult to take on a buyer who has been active for more than\u00a0a year, but less so someone who has just started feeling around.<\/p>\n<\/div>\n Realestate au <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"1. Shop around<\/h2>\n
![\"property\"](\"https:\/\/i0.wp.com\/www.realestate.com.au\/blog\/images\/549x365-fit%2Cprogressive\/2015\/05\/sandy-bay-streets-45.jpg?resize=549%2C365&ssl=1\")
<\/p>\n2. Understand the market year<\/h2>\n
3. Arrange a meeting with the agent at the property<\/h2>\n
![\"house](\"https:\/\/i0.wp.com\/www.realestate.com.au\/blog\/images\/1416x1062-fit%2Cprogressive\/2015\/05\/27104945\/doncaster-facade-home.jpg?resize=1416%2C1062&ssl=1\")
<\/p>\nWhat to ask the agent before making an offer on a property<\/h3>\n
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4. Place a value on the property<\/h2>\n
5. Make an offer<\/h2>\n
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