{"id":21928,"date":"2018-08-02T01:00:22","date_gmt":"2018-08-01T15:00:22","guid":{"rendered":"https:\/\/realestatetalk.com.au\/?p=21928"},"modified":"2018-08-02T01:00:22","modified_gmt":"2018-08-01T15:00:22","slug":"diy-research-and-get-the-bargains-paul-wilcox-and-robert-skeen","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/diy-research-and-get-the-bargains-paul-wilcox-and-robert-skeen\/","title":{"rendered":"DIY research and get the bargains \u2013 Paul Wilcox and Robert Skeen"},"content":{"rendered":"

Every buyer wants to get a property below what it is worth.\u00a0\u00a0 Some agents pitch that as the opportunity offered by a quiet listing or a pre-market offering.\u00a0 Is it real?\u00a0 How do you find those opportunities?\u00a0 Paul Wilcox and Robert Skeen<\/strong> say it is.<\/p>\n

Transcript:<\/strong><\/p>\n

Kevin:\u00a0\u00a0<\/strong>You\u2019ve probably heard me in the past talk about how every buyer wants to pay less than what a property is worth and every seller wants more than what it\u2019s worth. That\u2019s always a bit of a problem. But I guess it would be fair to say that everyone who buys a property wants to actually buy at or below, because one of the greatest fears that every buyer has is they\u2019re going to pay too much for a property.<\/p>\n

Well, that\u2019s where buyer\u2019s agents come in. I\u2019m talking to a couple of buyer\u2019s agents now from a company called Oasis Skeen Property Buyers Agents. Paul Wilcox and Robert Skeen join me.<\/p>\n

Paul, firstly, welcome to the show.<\/p>\n

Paul:\u00a0\u00a0<\/strong>Thank you, Kevin.<\/p>\n

Kevin:\u00a0\u00a0<\/strong>And Robert, you as well. Thank you for joining us.<\/p>\n

You heard my intro there; that\u2019s what most buyers want to do. how many of them actually achieve it? How do they go about doing it, Paul?<\/p>\n

Paul:\u00a0\u00a0<\/strong>As a long-time buyer\u2019s agent, I\u2019d like to think anyone who engages a good, qualified buyer\u2019s agent can and does buy under market value. That\u2019s what we\u2019re all about, Kevin.<\/p>\n

Kevin:\u00a0\u00a0<\/strong>Yes, of course you are, because you work for the buyer, so you have to make sure the buyer doesn\u2019t over-pay. But how does someone know they\u2019re working with a buyer\u2019s agent who has those skills? And what skills do you need? Robert, maybe you\u2019d like to answer that question.<\/p>\n

Robert:\u00a0\u00a0<\/strong>Yes, sure. I\u2019m going to help the consumers out and tell them how they can do it. And the best way to go about that is to really research the market. What I mean by that is if they\u2019re buying in a particular area, get out to every auction that you can and see what\u2019s going on in the marketplace. That way, you can get a feel for values quite quickly. And also jump on RealEstate.com or Domain.com, look at the \u201cSold\u201d tabs to see what\u2019s sold in and around the area if you can\u2019t make the auctions.<\/p>\n

I think through attending auctions and looking at the \u201cSold\u201d\u2026 And the good thing about the \u201cSold\u201d is you can click on those links and it takes you through to the photographs and floorplans and you can really compare apples with apples. In a short period of time, maybe in the space of five to six weeks, you\u2019re going to have a good grasp on what that property is worth.<\/p>\n

Now, once you know that, once again, it\u2019s research as well. If you see the home that you love, questioning the agent. How long has it been on the market? Why are they selling? Where are they going to? All these sorts of questions, so that you can determine what the owner\u2019s motivation is.<\/p>\n

If you have someone who\u2019s in a situation that they have bought elsewhere and they need to sell quickly, then obviously, you might be able to get a better deal there. You know what the market value is through your research and you can set up your offers appropriately to try and buy the property under market value.<\/p>\n

Kevin:\u00a0\u00a0<\/strong>You\u2019ve given us a great insight there as to what a buyer can do to make sure they don\u2019t over-pay. But if someone does all that research, why would they need a buyer\u2019s agent?<\/p>\n

Paul:\u00a0\u00a0<\/strong>Good question. I\u2019ll give you an example. We\u2019ve just negotiated one this week that had an asking price of $2.6 million. Our client liked the home, and he was probably prepared to pay that. After we viewed it, I said to him \u201cIt\u2019s just not worth it compared to what we\u2019re seeing in the marketplace.\u201d<\/p>\n

I said, \u201cIf you can be a little bit patient in terms of our negotiation, you might be able to get this at a better deal.\u201d We saved him $500,000. We actually exchanged on it yesterday for $2.1 million.<\/p>\n

Now, I know there are probably people out there going \u201c$500,000? Are you joking? Is this for real?\u201d It is, because it wasn\u2019t worth $2.6 million to start with. When we viewed the property, we said \u201cLook, here\u2019s how we\u2019re going to do it. We let the property languish on the market for over eight weeks. Every week, we will place some low offers.\u201d<\/p>\n

Yesterday when we put the contract in, it was with a Section 66W, 10% deposit, so it\u2019s unconditional; we\u2019ve done all our due diligence prior. We had the terms favorable to the vendor. They needed a bit of a longer settlement, so we were able to meet that. We put that in, and guess what? They took the offer.<\/p>\n

Kevin:\u00a0\u00a0<\/strong>Yes. It\u2019s interesting you should say that. I\u2019ve always held the view that a property is worth what someone\u2019s prepared to pay for it, and you said there that the client was actually prepared to pay the $2.6 million but actually secured it for a lot less. Congratulations on that, and I\u2019m sure the buyer was very happy.<\/p>\n

Robert:\u00a0\u00a0<\/strong>Can I say, too, he might have been able to negotiate that a little bit less, Kevin. Normal buyers might put in a few offers, and who knows, they might have ended up at $2.55 million. I think the beauty of us is that we can save them a lot more through the tactics and our skills over the years that we\u2019ve been able to harness.<\/p>\n

Paul:\u00a0\u00a0<\/strong>If I can butt in there\u2026<\/p>\n

Kevin:\u00a0\u00a0<\/strong>Yes, certainly, Paul.<\/p>\n

Paul:\u00a0\u00a0<\/strong>One thing that\u2019s probably good for everyone is we\u2019re unemotional. Obviously, we\u2019re buying for our clients, so it\u2019s not an emotional purchase. We will give the clients the good, the bad, and the ugly, and a lot of the times, clients will say \u201cHey, Paul or Robert, can you buy this house?\u201d And we\u2019ll say \u201cHave you considered that that second bedroom is quite small and facing south?\u201d<\/p>\n

A lot of buyers fall in love with the polished floors, the high ceilings, stylish furniture, and a lot of time, it\u2019s us putting the handbrake on the transaction at times. So, as much as we\u2019d like to\u00a0[5:01 inaudible]<\/strong>, we also save clients from making big mistakes.<\/p>\n

Kevin:\u00a0\u00a0<\/strong>Yes. I always thought that buyer\u2019s agents will bring that to the table, the fact that they\u2019re not emotionally involved and also that you\u2019re good negotiators. It\u2019s very hard for someone when they\u2019re buying a home to actually remove themselves from the emotion, \u201cI really have to have this house.\u201d<\/p>\n

Paul:\u00a0\u00a0<\/strong>Correct. That\u2019s true.<\/p>\n

Kevin:\u00a0\u00a0<\/strong>Guys, thank you very much for spending some time with us. Paul Wilcox and Robert Skeen are from Oasis Skeen Property Buyers Agents. Thanks, gentlemen, for your time.<\/p>\n

Paul:\u00a0\u00a0<\/strong>Thank you, Kevin.<\/p>\n

Robert:\u00a0\u00a0<\/strong>Thank you, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"

Every buyer wants to get a property below what it is worth.\u00a0\u00a0 Some agents pitch that as the opportunity offered by a quiet listing or a pre-market offering.\u00a0 Is it real?\u00a0 How do you find those opportunities?\u00a0 Paul Wilcox and Robert Skeen say it is….<\/p>\n","protected":false},"author":176692473,"featured_media":21905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,34,10,11,13,25,27],"tags":[101],"class_list":["post-21928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-property-topic","category-finance-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-sponsored-channels","category-trends-topic","tag-podcast"],"yoast_head":"\nDIY research and get the bargains \u2013 Paul Wilcox and Robert Skeen - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/diy-research-and-get-the-bargains-paul-wilcox-and-robert-skeen\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DIY research and get the bargains \u2013 Paul Wilcox and Robert Skeen - 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