{"id":8701,"date":"2016-07-28T10:00:13","date_gmt":"2016-07-28T00:00:13","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=8701"},"modified":"2016-07-28T10:00:13","modified_gmt":"2016-07-28T00:00:13","slug":"the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/","title":{"rendered":"The \u2018white lies\u2019 and what they mean + Stop winging about \u2018unaffordable property\u2019"},"content":{"rendered":"

 
\nIn our feature interview this week, we take you through the little white lies you might hear from time to time as a buyer. \u201cThe owners are expecting an offer\u201d, \u201cThe seller has not set an expectation\u201d \u2013 in fact there are 8 that Shannon Davis<\/strong> has been able to identify as he talks about what they mean and how to react to them.
\nWhen the topic of investing in apartments and managing strata levies comes up, it often generates some robust discussion centered around body corporate or strata fees and consequently some investors avoid these properties like the plague. So is buying a property with body corporates really a problem?\u00a0\u00a0 We look at that today in an effort to see if that type of property is right for you.
\nA major economic and construction forecasting agency is predicting that home prices across Australia will fall in real terms over the next three years. In its latest property market outlook, BIS Shrapnel has predicted real price falls of between 1 and 12 per cent across the capital cities by the end of 2018-19. BIS Shrapnel\u2019s Angie Zigomanis<\/strong> explains more.
\nIf, like me, you are sick of the winging about how un-affordable property is, especially for first home buyers, and that the fault for all this lies squarely at the feet of greedy investors and filthy capitalists who have invested in property and are reaping the rewards \u2026 then you will enjoy the comments by Todd Hunter<\/strong>.
\nBen Handler<\/strong> joins the chorus of those who are sick of all the talk about un-affordable property in Australia.\u00a0 He also has some excellent suggestions about how first time buyers can get in the market and a warning about the dangers of rushing in because you are fed up with missing out.
\n <\/p>\n

Transcripts:<\/strong><\/h4>\n

Why property is so ‘unaffordable’ – NOT – Todd Hunter<\/h2>\n

Kevin:<\/b>\u00a0 We hear it all the time \u2013 don\u2019t we \u2013 about how unaffordable property is, mainly coming from a number of people who either don\u2019t own property \u2013 obviously \u2013 or from the younger generation who are always complaining about the fact that the older generation seems to have made it more unaffordable for them to buy a property.
\nI\u2019m prompted to talk about this today on the show because of a blog article that was written by Todd Hunter, who is an author and also a founder of WHEREGROUP. I\u2019m going to read a portion of it just before I introduce Todd to you. This is straight from his blog:
\n\u201cAll I hear about lately is how first home buyers in Australia cannot afford to buy their first home due to house prices being so unaffordable. I have to say, I\u2019m sick of whining. This sense of self-entitlement is simply sickening. Apparently things are so much tougher than they were 10, 20, or even 30 years ago. But are they really?\u201d
\nAnd that\u2019s only just a portion of it. We\u2019ll talk about the reaction to that as well, but Todd joins me.
\nG\u2019day, Todd.
\nTodd:<\/b>\u00a0 Hey, how are you going?
\nKevin:<\/b>\u00a0 Good. I imagine from this, you\u2019re speaking from experience, are you?
\nTodd:<\/b>\u00a0 Yes, most definitely. I obviously already own property myself, but I\u2019m in the business as well of helping people invest and helping people get into their first home. So I\u2019ve seen it from both sides.
\nKevin:<\/b>\u00a0 In that portion that I just read there, you said that it\u2019s a privilege not a right. Just talk a little bit more about that. What\u2019s the attitude that you\u2019re hearing?
\nTodd:<\/b>\u00a0 For me, with property, it really is a privilege to own a property. It\u2019s not a given right that we actually have to have housing and we can afford to buy our own home. If you can afford to do it \u2013 and I\u2019ve shown that it can be done \u2013 then it is a privilege. It shouldn\u2019t be taken for granted.
\nI\u2019ve seen two sides of this, from the older generation and the younger generation, where some people are saying it\u2019s an absolute right to own a home \u2013 and I don\u2019t think it is.
\nKevin:<\/b>\u00a0 There\u2019s been a slow creep here. I\u2019ve done this show now for about 12 years, and I remember talking probably even 10 years ago about how the younger generation wanted everything quickly. In other words, that\u2019s when we were talking about the McMansions and those really big properties.
\nI\u2019ve often reflected back on the first property that Carolyn and I bought, which was a very modest three-bedroom, little brick home in Toowoomba. I sometimes wonder if our expectations are just too great and that\u2019s actually what\u2019s causing a lot of this, Todd.
\nTodd:<\/b>\u00a0 Yes, I think it is. I\u2019ve seen some of the comments on the blog where their expectations are that they want the glamorous property five kilometers from the CBD. They\u2019re not willing to travel from Penrith or Campbelltown into Sydney or Milton in Melbourne down into the city. They want to be in that hub. It\u2019s that sense of entitlement I think.<\/b>
\nKevin:<\/b>\u00a0 We\u2019ve looked a lot, too, at the generational attitudes and I think wanting everything too quickly and almost not willing to take some sacrifices. I know we\u2019re generalizing a lot here because there are a number of people I\u2019ve spoken to in the show who have taken some great sacrifices to get into their first property. Is that one of the causes of this \u2013 it\u2019s this rite of passage and we\u2019re not prepared to sacrifice for it and we\u2019re looking to blame someone?
\nTodd:<\/b>\u00a0 I think it is, yes. And I think that given the social media that we have now, it\u2019s a very easy avenue to voice that, as well. Yes, most definitely.
\nKevin:<\/b>\u00a0 You said earlier in our conversation that you\u2019ve shown that anyone can own a property. Let\u2019s talk about that. For people who are finding it difficult to get into the market, what can they be doing now constructively to do that?
\nTodd:<\/b>\u00a0 I think certainly just cutting back on expenses that they think are necessities that really aren\u2019t \u2013 things like washing your car or having a coffee every day or all the apps that they download and pay for continuously. Things like that can be certainly cut back \u2013 and Foxtel \u2013 and just continue to keep saving, saving, saving.
\nIt definitely can be done. We see that quite often with a lot of clients. They\u2019re out there and they\u2019re actually getting ahead and they\u2019re doing this. We are generalizing in this aspect here, but there are some out there who are actually getting goals.
\nKevin:<\/b>\u00a0 We\u2019ve heard a lot about rentvestors, too. These are people who are willing to rent right now where they want to live but then go and buy an investment property \u2013 not necessarily where they\u2019d want to live but one that\u2019s going to give them a fairly good return. We\u2019re hearing some shocking numbers about first-home buyers falling out of the market. Do you think they\u2019re just not looking creatively enough?
\nTodd:<\/b>\u00a0 Most definitely, yes. I think it\u2019s that expectation thing again. Part of that blog is that I put down a whole bunch of suburbs that were key areas within Sydney and Melbourne that seem to be the two areas that most people are saying they can\u2019t afford. I said, \u201cWell, I can find a bunch of one-bedroom units that are all very, very affordable.\u201d How isn\u2019t it affordable?
\nKevin:<\/b> Our right to actually own a property, it\u2019s something that\u2019s been born into us, that we have to own property. Do you think we need to change that focus a little bit and say, \u201cOkay, we need to own property but not necessarily a home to live in. We need to build a portfolio.\u201d Are they two entirely different things, Todd?
\nTodd:<\/b>\u00a0 Yes, they are. We\u2019re seeing a lot of people who are doing this rent-and-invest strategy to get into the market and buying in more affordable places to do so. We\u2019re probably one of the only few countries in the world that has this great Australian dream of owning your own home. It\u2019s bred into us, and I don\u2019t see that coming out of us real quick.
\nKevin:<\/b>\u00a0 What can parents do to help their kids do this, and are you seeing a bit of that happening as well, Todd?
\nTodd:<\/b>\u00a0 Yes, we\u2019re definitely seeing that \u2013 and more and more so as it goes on. They\u2019re guarantoring loans or gifting some deposits to help them along. Especially when mom and dad have done fairly well out of the property market over the last few years, they\u2019re saying, \u201cI can obviously help the kids along.\u201d They can either do an equity loan against their home and gift them the cash or they can put one of their properties or home property up for security to help the children get into their first property.
\nKevin:<\/b>\u00a0 I did an exercise a couple of weeks ago where we had a look at property prices back in 1975 and the number of differences then \u2013 interest rates were much higher than what they are today and the banks would only ever look at the income of one person. Even though you\u2019re a husband and wife and you\u2019re maybe both working, they would still only look at the husband\u2019s wage. There were a number of things against us in those days even though property prices were a lot less than what they are today, Todd.
\nTodd:<\/b>\u00a0 Yes, definitely. There were shorter loan terms, like 25-year loan terms. There was the one-income scenario. You\u2019re talking about those high interest rates. There were a number of factors that made it difficult back then, as well. I think that\u2019s the key thing. I\u2019m not saying that it\u2019s easy to get into property now, but I don\u2019t think it\u2019s any harder than what it was back in the early days when we were buying property.
\nKevin:<\/b>\u00a0 I\u2019m going to read now one of the responses to your blog article that came from Andy. I\u2019m going to take out the first couple of sentences because he says some pretty uncomplimentary things about you and what you should be doing with your head. Anyway, he goes on to say:
\n\u201cJust look at the intelligent comments on this feed and you\u2019ll see that it\u2019s not<\/i> the same as it was when you were young. It\u2019s your<\/i> generation and the Baby Boomers who have ruined the whole world for future generations. It\u2019s going to take many generations to fix up this mess of a world that you\u2019ve made for them, and here you are acting all proud and high and mighty for it. You should be ashamed.\u201d
\nWhat\u2019s your response to Andy about that?
\nTodd:<\/b>\u00a0 I\u2019m not acting all high and mighty; we\u2019re seeing a lot of these whinges and hence that\u2019s why the blog was written. Have we ruined it for them? No, I don\u2019t think we have ruined it for the Generation Y and the Millennials. No, I don\u2019t think that at all. I just think they just have to think differently. It\u2019s a totally different world out there, so they have opportunities that obviously we didn\u2019t have, as well. There are certainly opportunities for them to do it.
\nKevin:<\/b>\u00a0 I think if they make some sacrifices like the ones that you\u2019ve mentioned in your blog article \u2013 and there were about six of them there, which you might cover very quickly \u2013 if they take some of those sacrifices and get into the market, sure, it is appreciating but they\u2019re going to be getting an appreciating asset. It\u2019s only a matter of getting your foot on the ladder, isn\u2019t it?
\nTodd:<\/b>\u00a0 Yes, it most definitely is. Part of that comment there is amusing that they have blamed us for all the property prices going up and that we\u2019ve ruined the world, yet they want to get into the property market and have their properties appreciate, which is exactly the argument that they\u2019re fighting against there. Counterintuitive, I think.
\nKevin:<\/b>\u00a0 I\u2019m just going to quickly summarize the points that you\u2019ve made here \u2013 stay at home and don\u2019t rent a place that you can\u2019t afford, spend a year or two saving, start having conversations with your mom and dad about how they can help, adjust your expectations, and get your mates involved, too, so you can hang out and socialize with people who are like-minded instead of going out and having a few drinks. It all comes down to sacrifice, doesn\u2019t it?
\nTodd:<\/b> It does, most definitely.
\nKevin:<\/b>\u00a0 Todd, thanks again for your time.
\nTodd:<\/b>\u00a0 Thanks for having me on.
\n <\/p>\n

Prices set to fall due to oversupply – Angie Zigomanis<\/h2>\n

Kevin:<\/b>\u00a0 I\u2019m joined by Angie Zigomanis. Angie is a Senior Manager Residential Property at BIS Shrapnel.
\nAngie, thanks for your time.
\nAngie:<\/b>\u00a0 No worries at all.
\nKevin:<\/b>\u00a0 The headlines this week are a little bit alarming, proclaiming that home prices are tipped to fall and that Australia will face an oversupply of housing by 2018. People are worried about this. Investors are talking, of course. Walk us through the findings and what should we be concerned about, Angie?
\nAngie:<\/b>\u00a0 I guess as economists we take the classic Economics 101 approach of looking at demand and supply. On the demand side, we look at population growth, and we translate that population growth to the number of new dwellings that are needed. Then on the supply side, we look at the number of dwellings that are actually under construction and working their way through to completion.
\nI suppose over the last 12 months or so, we\u2019ve seen a significant uptick on the construction side, particularly in the apartment sector. And that will continue to flow through over the next couple of years because for major apartment projects, it will take one to two years \u2013 if not longer \u2013 for it to work its way through from project commencement to project completion.
\nBased on those numbers, we think that particularly in the unit sector, new apartment supply will be running at much higher than what\u2019s required by population growth, and in a nutshell, that means there won\u2019t necessarily be enough tenants to occupy those apartments once completed.
\nKevin:<\/b>\u00a0 We\u2019ve seen this in the past, haven\u2019t we? It is a bit of a cycle where we see some of these figures projected on properties that aren\u2019t even developed at this stage, that probably never will be developed. Is there a bit of over-exaggeration in some of the reactions here?
\nAngie:<\/b>\u00a0 Potentially. We have seen cycles before, and the Brisbane, Melbourne, and Sydney markets have all gone through various cycles, and it\u2019s just classical cyclical behavior. When the market\u2019s strong, people pile in and often pile in when the market\u2019s starting to turn, but that supply still has to work its way through.
\nIt definitely happens. There are potential upsides if population growth comes through stronger than we expect, and on the supply side, there are also people who may not necessarily get the pre-sales off the ground for the project to proceed, or they might have the pre-sales but they might not be able to get the finance and so that pulls the project out of the market, as well.
\nKevin:<\/b>\u00a0 I\u2019ll use Brisbane as an example, but markets like Brisbane follow very much behind Sydney and Melbourne, and we saw a huge mass of properties coming through. We\u2019re now starting to see a bit of a decline as the banks tighten up in some of those areas. Is that likely to follow through into areas like Brisbane where we might see a lot of these developments just not come out of the ground?
\nAngie:<\/b>\u00a0 Yes, definitely. We\u2019ve already seen some sites that have been purchased in the last few years come back onto the market again because the developer hasn\u2019t been able to proceed with it. We are probably seeing some projects that are pre-selling at the moment where sales rates probably aren\u2019t necessarily strong enough for them to eventually breach whatever pre-sales hurdle that\u2019s required by their financier.
\nKevin:<\/b>\u00a0 This oversupply that we\u2019re talking about, is it right across the board in all markets around Australia?
\nAngie:<\/b>\u00a0 No. There are two aspects to our measures of oversupply. One is where it is and two is what type of dwellings it\u2019s in. In terms of aggregate measures, we probably expect two or three years out from now New South Wales will be the only state that\u2019s in undersupply.
\nThen if you look more particularly at dwelling types, we\u2019ve seen a big upturn in apartment construction, and that\u2019s really where we expect most oversupply, particularly in Brisbane and Melbourne, to be concentrated. Both cities have seen a high level of apartment construction, particularly in the inner city areas, and probably disproportionately high relative to historical norms and likely to be relative to demand, as well. That\u2019s where we expect vacancy rates to be highest and we expect rents to be most challenged.
\nKevin:<\/b>\u00a0 I guess for those people who are looking at buying some of these apartments in all of these capital cities we\u2019re talking about, it\u2019s very important that they make sure they\u2019re going with a developer who\u2019s actually going to complete the development, that it will come out of the ground, Angie.
\nAngie:<\/b>\u00a0 Yes, exactly. If you\u2019re looking at that project, definitely. One of the other things that we\u2019re seeing coming through particularly in the Brisbane market is that construction costs are increasing pretty rapidly for new apartments, as well, and so I think there are instances now where a developer has sold apartments at a certain price \u2013 maybe one to two years ago at a lower price \u2013 and is all of a sudden, trying to lock in a construction contract and finding the building doesn\u2019t necessarily stack up financially anymore because the costs have increased so much in the meantime.
\nKevin:<\/b>\u00a0 I talked to a number of developers, one in particular I was talking to this week is Pellicano who are very well known developers all around Australia. They\u2019re doing a number of developments in Melbourne and they\u2019ve done a lot in Brisbane, as well. They\u2019re starting to come out of the ground. They\u2019re the type of developer you could have some confidence in if you buy one of their developments because you can see it coming out of the ground now and you know it\u2019s going to complete.
\nAngie:<\/b>\u00a0 Yes, exactly. Any business that\u2019s a reasonable size and has a big base behind it and that\u2019s been in there for the long haul already, you know that it\u2019s in their best interest just to proceed with the project to maintain their reputation.
\nKevin:<\/b>\u00a0 My guest is Angie Zigomanis, Senior Manager Residential Property at BIS Shrapnel.
\nLet\u2019s talk about a couple of markets that are really finding it quite tough now \u2013 Perth and Darwin. Both places are already finding it really, really tough. Is there more pain for them, or is there a bit of light on the horizon?
\nAngie:<\/b>\u00a0 I think for now there is more pain for them. Both markets are really driven by the resource sector and particularly investment in the resource sector. For example, when you\u2019re expanding a mine, it may take a few thousand people to work on the construction side of it, but once it reaches the operational phase, it might only take a few hundred people to operate it. It\u2019s really in the construction phase when all the jobs are created and when the economy benefits the most.
\nIf you look at Perth, but really we\u2019re looking at Western Australia and mostly at North West Shelf, I guess, a lot of the projects are now working their way through to completion and steadily moving into the operation phase. That will continue to take place and probably bottom out on our numbers in 2018.
\nDarwin is in a similar boat. They\u2019re really being driven almost by one project, the big INPEX LNG project. That construction project also completes around 2018, as well. So there will continue to be a drag on both of those local economies of Perth and Darwin down through to 2018 when it bottoms out. Really, the light at the end of the tunnel will be after that.
\nKevin:<\/b>\u00a0 Looking a little bit broader around Australia, some fairly stark predictions over the next three years. What\u2019s it likely to be like after that?
\nAngie;<\/b>\u00a0 Beyond the next three years, I think we\u2019ll probably see most markets bottoming out around 2018 and maybe 2019 and then the next cycle to come through. The strongest upturns to come through beyond there are probably in markets like Brisbane where it\u2019s really missed the cycle here.
\nWe saw Sydney and Melbourne take off but Brisbane lagged well behind, and on the assumption that the Queensland economy comes back pretty strongly, as well, we think there\u2019ll be plenty of upside in the Brisbane market in that cycle. Even in places like Perth prices will have dropped back considerably, and by 2019, I think we measured in real terms that Perth prices will be down by over 20%. So that will position themselves well for the next round of price growth and the next cycle, as well.
\nIt\u2019s really in those cities that are doing it toughest now will probably be in the best position for the next cycle.
\nKevin:<\/b>\u00a0 Yes. You\u2019ve probably already answered this next question, but there\u2019s always some good news. What about the good news that\u2019s coming out of all of this, some of the positives?
\nAngie:<\/b>\u00a0 I think it provides a good way to set themselves up for the next cycle. No one will ring a bell and tell you, \u201cHere\u2019s when the market hits rock bottom and today\u2019s the day you go out on the market and buy.\u201d So you really, I guess, should be in the market when as a purchaser, you\u2019re in a position where you can bargain, haggle, and negotiate yourself the best price and sit and work your way through until the next upturn comes through.
\nKevin:<\/b>\u00a0 Always good talking to you, Angie Zigomanis, Senior Manager Residential Property at BIS Shrapnel.
\nThank you very much for your time, Angie.
\nAngie:<\/b>\u00a0 No worries at all. Thanks, Kevin.
\n <\/p>\n

Body Corporate pros and cons – Michael Yardney<\/a><\/h2>\n

Kevin:\u00a0 <\/b>When we talk about investing in units, the topic of body corporate always comes up, and I guess that prompts us to ask the question, what\u2019s a body corporate all about? Do we really need it? What\u2019s its purpose? And should it be such a stumbling block? To answer those and lots of other questions about it, Michael Yardney<\/a> joins me from Metropole Property Strategists<\/a>.
\nMichael, firstly, tell me what is a strata scheme all about?
\nMichael:\u00a0 <\/b>Strata schemes are a form of subdivision, and whenever there\u2019s common land \u2013 it could be the gardens, maybe the hallways, the flights of stairs, foyers \u2013 a body corporate, sometimes known as an owners corporation, is formed to manage it on behalf of the collective owners, because if you buy an apartment, you own within the four walls, below your roof and above your floor, but there\u2019s also a part ownership of the other common areas, and expenses of those are divided between the dwelling and paid by the various owners.
\nIf you\u2019re on a standalone property with no body corporate, you\u2019re still paying most of those outgoings also, so the trick is to find a property with a well-run owners corporation who don\u2019t pay excessive fees, things that you don\u2019t use or you don\u2019t need. So I wouldn\u2019t exclude a property because it has an owners corporation, but I\u2019d ask some particular questions before I look at one.
\nKevin:\u00a0 <\/b>Who decides on the levies in an owners corporation?
\nMichael:\u00a0 <\/b>An owners corporation is run by a committee on behalf of all the owners. If it\u2019s a small block of apartments \u2013 three or four \u2013 probably everyone will be sitting on the committee and appoint a chairman. Once a year, they\u2019ll meet and they\u2019ll decide \u201cLook, I have to pay for some insurance, we have to pay for some garden maintenance, and maybe we should put a little bit of money aside for future costs,\u201d and the committee decides on behalf of all the owners. It\u2019s usually run by an external manager, in other words an owners corporation or a body corporate company, but sometimes, the committee runs it themselves.
\nKevin:\u00a0 <\/b>As I understand, there are two different types of fees: there are the ones for just the general, ongoing maintenance, but there\u2019s also a need for a sinking fund, too, isn\u2019t there?
\nMichael:\u00a0 <\/b>That\u2019s good management, because I come across investors who have a standalone property and all of a sudden, the guttering goes and they have to spend thousands of dollars, or they have to repaint the whole building and that costs them lots of money, as well, so they don\u2019t have any reserve for it. But a well-run owners corporation will put a little bit aside each year in preparation for this, so you don\u2019t get a shock in the future.
\nKevin:\u00a0 <\/b>And there could be shocks that come along. I\u2019ve heard of a couple of blocks, particularly in Sydney, when you have these major rain events, where the roof may start to leek and there\u2019s a lot of need to do some major waterproofing. I\u2019ve actually seen these owners corporations have to go out and get loans to fund these sort of improvements.
\nMichael:\u00a0 <\/b>That creates financial embarrassment for all the owners, so a well-run owners corporation will always have what\u2019s called a sinking fund. In some states, they\u2019re mandatory, and in other states, they\u2019re not, but it\u2019s just good management, running your property investments like a business, Kevin.
\nKevin:\u00a0 <\/b>I suppose it comes down to due diligence \u2013 when you\u2019re coming to buy a unit like this to make sure that you thoroughly check those owners corporation minutes to see how much there is there and if there\u2019s any history of problems in the past, Michael.
\nMichael:\u00a0 <\/b>That\u2019s a great comment, because the owners corporation prepare minutes for the various owners in the building, and that\u2019s passed on to potential purchases. So you should look at those minutes, and what you should be looking for is a proactive committee. You\u2019re looking for a building that\u2019s well run, that\u2019s modern, but that hasn\u2019t got excessive expenses for things like swimming pools or gyms or lifts, especially if you\u2019re not going to use them.
\nI always find it interesting that people on the first and second floor have to pay the same levy for their lifts that the people on the 15th and 16th floor \u2013 who use the lifts more and have got better views \u2013 have to pay.
\nYou look for a well-run committee, because a poorly run one can create headaches in the future. Look for expenses, look for outgoing, look for whether they\u2019re proactive, and the other thing you should really look for is signs of disputes internally amongst the owners corporation members, or externally, with disputes with neighbors or contractors, because if you were to buy the building, you\u2019d be buying into those disputes, your part of it.
\nKevin:\u00a0 <\/b>Yes, make sure you go back and read those minutes, because there are a lot of things that sometimes just the body corporate searches or the owners corporation searches won\u2019t show you and won\u2019t reveal, so my experience is that you\u2019re better off just going and having a look at them yourself. That\u2019s my view.
\nMichael:\u00a0 <\/b>Definitely. I think then once you own your investment property, you should become part of the committee. You should treat it properly. A lot of people get the annual notice and think \u201cI don\u2019t want to go, it\u2019s an hour of my time at night, it\u2019s inconvenient; I\u2019ll just send a proxy in,\u201d and then they complain a year or two later that the owners corporation isn\u2019t looking after it, they\u2019re not maintaining it, they\u2019re wasting money. So take part in it.
\nAnd again, if it\u2019s an investment grade property, if it\u2019s in the right location and you can\u2019t afford a house or a townhouse in that location, it\u2019s better to buy an apartment there, and really, the only extra cost you tend to pay with strata levies is the body corporate manager\u2019s fees, because you\u2019d have to pay the insurance anyway, you\u2019d have to pay the gardening anyway, you\u2019d have to pay the maintenance anyway if you own the whole building, and owners corporation management fees are in the order of thousands of dollars a year, not tens of thousands. When you split it six or eight ways, it really doesn\u2019t change the bottom line of your investment.
\nKevin:\u00a0 <\/b>Great talking to you. Michael Yardney<\/a>, thanks for your time.
\nMichael:\u00a0 <\/b>My pleasure, Kevin.
\n <\/p>\n

The little white lies and what they mean – Shannon Davis<\/h2>\n

Kevin:\u00a0 <\/b>Now at the outset, I have to say no one is suggesting that real estate agents tell lies, but occasionally, I guess you can say they do get a bit creative with the truth. It\u2019s not just real estate agents; I guess anyone in a selling role sometimes has to maybe sidestep around what\u2019s really happening to try to get a sale across the line.
\nI\u2019m not going to sit in judgment, I don\u2019t want you to sit in judgment, either, but the thing that I want to discuss now is some of the \u2013 I guess \u2013 white lies that real estate agents actually tell. Someone who has the antenna up all the time is Shannon Davis, who is a buyer\u2019s agent. You are a real estate agent, but you\u2019re a buyer\u2019s agent, and you probably come across this quite often, Shannon.
\nThank you for your time.
\nShannon:\u00a0 <\/b>No worries, Kevin.
\nKevin:\u00a0 <\/b>Let\u2019s have a look at a few of these. You\u2019ve identified eight for me, and I just want to talk to you about each one of these. When an agent says to a buyer \u201cHey, we have another interested party,\u201d what do you say about that?
\nShannon:\u00a0 <\/b>Yes, that\u2019s a good one. People are more motivated by losing things than gaining things, so its aim is to create some urgency for someone to take action. That may be true or perceived, but whatever the case, in any negotiation, it\u2019s a battle for time, information, and power.
\nI think the buyers need to know that they can walk away, there are other properties out there, whereas the seller only has the one to sell. I think power can be a perception, and it\u2019s not always with the seller. If they have another party and you\u2019re getting the urgency put on you, you need to make sure what your role is and whether you\u2019re worried about losing the property to someone else. Make up your own mind from there, and perhaps call the bluff if you\u2019re not quite ready to take action.
\nKevin:\u00a0 <\/b>Let\u2019s talk about calling the bluff. How do you do that, and how do we find out if there is another interested party? Most people are interested\u2026 Anyone who comes to an open home is an interested person, let\u2019s put it that way, but how interested are they? Are they prepared to buy it? How do you find some of these things out?
\nShannon:\u00a0 <\/b>Yes, I think questions are key. Strive to be innocent. Think of Columbo if you can. He used to always ask those silly little annoying questions, and the more questions you ask, the more information you garner.
\nThat brings us to the next one, which is \u201cWe\u2019ve had an offer.\u201d You need to dig a little bit deeper to see if that offer is written, if it\u2019s on contract, or if it\u2019s just a verbal, and then you can gauge your reaction after that.
\nKevin:\u00a0 <\/b>Yes. You can ask, but you\u2019re probably not going to get an answer about the level of the offer, are you?
\nShannon:\u00a0 <\/b>No, but it doesn\u2019t hurt asking. There are all types of agents out there \u2013 inexperienced ones, ones who just work with buyers, there are seasoned pros \u2013 so it doesn\u2019t hurt to ask.
\nKevin:\u00a0 <\/b>Yes. You\u2019ve highlighted it there. You have to ask whether that offer is in writing or whether it\u2019s verbal. The difference between the two, Shannon?
\nShannon:\u00a0 <\/b>Well, a person putting things in writing\u2026 Business is done in writing. Verbal can be any sort of reaction, and it\u2019s no interest to the sales agent until we see something that\u2019s in writing, but even better if it\u2019s in a legally binding contract. That\u2019s when we know that we have genuine interest. Everything else is all irrelevant.
\nKevin:\u00a0 <\/b>I guess in all of these conversations we\u2019re having \u2013 and we have a number to get through yet \u2013 you have to understand that the agent you\u2019re talking to is actually representing the seller, so most of the conversation that they have with you is going to be couched <\/b>in terms of the benefit to the seller, not to you as the buyer.
\nShannon:\u00a0 <\/b>And that\u2019s what we need to worry about. If you\u2019re representing yourself, it\u2019s buyer beware, and no matter how friendly, charming, charismatic the agent is, they\u2019re not your friend; it\u2019s a person working for someone else.
\nKevin:\u00a0 <\/b>The next one is a bit unusual, where an agent would say, \u201cWe haven\u2019t had as much interest as we\u2019ve anticipated.\u201d Why would they say that, and what can we read into that?
\nShannon:\u00a0 <\/b>This is designed for the bargain hunters. Maybe there\u2019s an auction approaching and they want to draw as many people to the crowd as they can, and they\u2019re signaling a weakness on the other side. They want to try and encourage any action to what may be a stale listing, and something like that will get the bargain hunters motivated, and perhaps on the premise that they might get a decent purchase. But of course, when you turn up to auction, you might see that it\u2019s overflowing with people who are there and maybe you\u2019ve been had.
\nKevin:\u00a0 <\/b>Yes. Getting back to the comment you made earlier about asking questions, those Columbo questions \u2013 and I love that. He was very good at that, wasn\u2019t he? Right at the end, he\u2019d just come back.
\nShannon:\u00a0 <\/b>Very good. I loved Columbo.
\nKevin:\u00a0 <\/b>A really good question to ask there is if an agent says to you \u201cWe haven\u2019t had as much interest as we anticipated,\u201d it would be great to say \u201cWhy do you think that is?\u201d
\nShannon:\u00a0 <\/b>Yes, definitely.
\nKevin:\u00a0 <\/b>Just to see what the agent comes up with.
\nShannon:\u00a0 <\/b>Questions such as days on market, vendor motivation, maybe the negatives that you put up in the property, just to see what the other interest has been and what the agent feels about those objections.
\nKevin:\u00a0 <\/b>It comes back to having a lot of knowledge, and you mentioned about days on market and success rate, understanding what\u2019s happening on the market. If you push that back to the agent and show them that you know what they\u2019re talking about, you\u2019re less likely to cop some of these little \u2013 as we call them \u2013 white lies.
\nShannon:\u00a0 <\/b>Definitely. You look to be serious, you look to be informed, and you\u2019ll probably get good oil, rather than being treated like a person who may be had.
\nKevin:\u00a0 <\/b>Yes. We have a number of others to get through. The next one you highlighted for me was that the vendor wants contracts signed up tonight. What are they implying there?
\nShannon: \u00a0<\/b>Time is a really big thing in negotiation, and often, the seller will try to move the time. Maybe they\u2019ve bought elsewhere, or maybe they have an impending overseas visit. We need to push back to see whether that deadline is real or just made up, and if you\u2019re not in a position to sign \u2013 perhaps you haven\u2019t been to see your bank, or your significant other hasn\u2019t been through the property \u2013 it\u2019s just one of those things that\u2019s designed to create urgency. So if you\u2019re not in a position, just push back on that.
\nKevin:\u00a0 <\/b>Yes. I guarantee that if I went to any seller, any vendor and said \u201cWould you like a contract tonight,\u201d they\u2019re all going to say yes. So that in itself is just a statement; it doesn\u2019t really mean much. Every seller wants a contract, don\u2019t they? That\u2019s why they\u2019re on the market.
\nShannon:\u00a0 <\/b>That\u2019s right, and we need to just concern us with ourselves and control what we can control. It goes back to that perception of power. Sometimes yours is the power, because you can walk away.
\nKevin:\u00a0 <\/b>The next one I love, and this one is going to come up all the time, especially with auctions, where the agent will say, \u201cWell, the vendor hasn\u2019t really given us a good indication of their expectation.\u201d I would imagine this would be on the tail end of \u201cHow much do they want?\u201d That\u2019s the question I would ask the agent.
\nShannon:\u00a0 <\/b>Yes, definitely, and if you think that any vendor has signed up an agent to represent them without giving an indication of their price expectation, you believe that pigs can fly. Of course, they\u2019ve given an indication, but what the agent is trying to do is solicit your highest price without putting a range into your thinking. The better question probably is \u201cWhat comparative sales have you got to justify the price point for this property?\u201d
\nKevin:\u00a0 <\/b>Because in fairness, there are some parts of Australia \u2013 Queensland being one of them \u2013 where the agent is not allowed to give you an indication on price, and that\u2019s in legislation. So I guess you have to be a little bit wary about that, don\u2019t you?
\nShannon:\u00a0 <\/b>Yes, but they do have an obligation to give comparative sales, too. So while they can\u2019t put a price in your head, there\u2019s nothing stopping them talking about that.
\nKevin:\u00a0 <\/b>Yes. Next one: \u201cWe\u2019re happy to present any offers prior to auction day.\u201d This is a tough one, because a lot of buyers actually to try to avoid going to the day of the auction, so they will actually try and put their best foot forward, but in doing that, they could actually be making a very big negotiation mistake, Shannon.
\nShannon:\u00a0 <\/b>Yes, they may be even raising the reserve. Because they\u2019re so genuinely, emotionally tied up with the property, they\u2019re showing their cards before they need to. I think in trying to avoid the contest, they\u2019ve really given all the information to the other side, which is never a good idea.
\nKevin:\u00a0 <\/b>Yes, not a good idea at all, so that\u2019s one. Do you try to buy properties before auction day?
\nShannon:\u00a0 <\/b>When it is a property not attracting the offers. If it was a property with little developer interest and perhaps no owner-occupier appeal but has a really good commercial location and there\u2019s a property that would fit us, I can garner that it\u2019s not going to be a strong appeal to most people and perhaps the vendor is a little bit desperate. That\u2019s when we would try and secure something prior to auction, not the other way, when it\u2019s obvious high demand and going to be well contested. It\u2019s just showing your cards before you need to.
\nKevin:\u00a0 <\/b>Okay, the next one is really I guess where you\u2019re at the point of going to contract, and the agent says to you, \u201cWell, you don\u2019t really need a solicitor looking over this. Just sign it. It\u2019s a standard contract.\u201d Not a good idea?
\nShannon:\u00a0 <\/b>Never a good idea with that one, because people shouldn\u2019t talk beyond their qualification and an agent has no legal qualifications there. Every real estate transaction should have the advice of a solicitor, and it\u2019s actually stipulated in the contracts, as well, so that would be quite a disreputable agent who would suggest that.
\nKevin:\u00a0 <\/b>Yes, any agent who does suggest that, just disregard them, and make sure you do contact your solicitor, because it needs to be done. I guess this next one is in a similar vein, too, where you may want something put into a contract, and it says \u201cWell, we don\u2019t need a special condition on this; the vendors are going to be fine with that one.\u201d That\u2019s a big mistake.
\nShannon:\u00a0 <\/b>Definitely. Business is done in writing. It needs to be done. Don\u2019t go to settlement where it then becomes your problem. You need to make that a condition of sale, so that it\u2019s all stipulated and agreed to before the settlement date.
\nKevin:\u00a0 <\/b>Yes, another great reason why you should be consulting your solicitor and getting your solicitor to draft that special condition.
\nShannon:\u00a0 <\/b>Definitely, take it out of the hands of the agents, and the solicitors can work to that themselves.
\nKevin:\u00a0 <\/b>Easy to see why you are so good at what you do, Shannon Davis from Metropole Properties. Thank you very much for your time, Shannon, for sharing your wisdom with us and enlightening us on a number of those points. Thanks for your time, mate.
\nShannon:\u00a0 <\/b>No worries, Kevin. Any time.
\n <\/p>\n

Don’t panic. \u00a0That is the worst thing to do – Ben Handler<\/h2>\n

Kevin:<\/b>\u00a0 We\u2019ve been talking today in the show about whinging and whining about how unaffordable property is, particularly in relation to first-home buyers. Joining the conversation now is one of the co-owners, the director of Cohen Handler Buyers\u2019 Agents, Ben Handler.
\nBen, thanks for your time.
\nBen:<\/b>\u00a0 Thank you.
\nKevin;<\/b>\u00a0 We\u2019ve had some pretty strong views expressed already about whinging and whining and what people should be doing to get into the property industry. How unaffordable is it really, Ben?
\nBen:<\/b>\u00a0 It really depends. I guess I agree in regards to people whinging that they\u2019re struggling to save money, that they\u2019re spending money on other things. However \u2013 we hear this a lot \u2013 while the market is competitive, it\u2019s also very exciting and dynamic and rewarding at the same time for those who buy well. First-home buyers need to put effort into planning, into researching, into saving, and this ultimately will be determined by how serious the buyer is to find their dream home.
\nKevin:<\/b>\u00a0 Do you think we\u2019ve play too much the hope game?
\nBen:<\/b>\u00a0 Absolutely. We define hope as really being reactive and not proactive. First-home buyers need to always be on the front foot and ready for change. The market is changing daily or even weekly, so they need to be ready to change their plan of attack. More importantly, they need to get really curious and start asking questions to the real estate agents, really being prepared, because there is a lot of uncertainty out there with what you can get.
\nKevin:<\/b>\u00a0 Help me with some of the questions they should be asking agents to get to the bottom of this.
\nBen:<\/b>\u00a0 For example, if a real estate agent has a property that\u2019s scheduled for auction, a lot of first-home buyers forget to ask the question \u201cIs there an opportunity to buy this prior?\u201d Rather than waiting for that campaign to get to auction where the price, in most cases, goes up due to more interest, there\u2019s always an opportunity to buy pre-auction. That\u2019s also a good example.
\nKevin:<\/b>\u00a0 I guess one of the riders with that, too \u2013 and it\u2019s not a condition, but it certainly should be something that every first home buyer should do \u2013 is make sure they do their homework so that they have a clear picture of the price before they start making pre-auction offers, Ben.
\nBen:<\/b>\u00a0 Yes, correct.\u00a0 That also comes down to just planning and understanding \u201cIs this property achievable for my budget?\u201d In most cases for a lot of first-home buyers, it\u2019s not. They spend money on due diligence with their solicitor or their accountant or financial planner, and in fact the property is actually not in their budget at all.
\nKevin:<\/b>\u00a0 I heard a suggestion the other day from one of your colleagues actually \u2013 not necessarily in your company but he was a buyers\u2019 agent \u2013 who was saying that first-home buyers should just totally ignore auctions because auction is a very dangerous way to buy property. I arced up at that because I think that\u2019s some of the worst advice I\u2019ve heard in a long time. You miss out on so many properties if you just ignore auctions.
\nBen:<\/b>\u00a0 Yes, it\u2019s an interesting one. I guess sometimes it is good to take a property to auction to condition the vendor, especially in this market where vendors\u2019 expectations of price is so high now as you can imagine, so sometimes it is good to bring it to auction to actually get the transparency of who are the buyers and what\u2019s really going on. The real estate agents will tell you there are all these people interested, etc. Is it true? Who knows? An auction is a really good representation to understand what\u2019s going on.
\nHowever, there is sometimes great opportunity to execute prior to auction \u2013 and that just comes down to asking the agent questions and really just getting curious as to what can be achieved.
\nKevin<\/b>:\u00a0 Do you think sometimes that first-home buyers risk buying the wrong type of house or even paying too much because they don\u2019t do their homework?
\nBen:<\/b>\u00a0 It is very common. We see a lot of first-home buyers, really due to frustration, they start to settle for something that\u2019s not really even part of their original brief. They get beaten down from missing out on properties, missing out at auction, from just spending too much time on the weekends and not finding the right property, and they begin to settle for what they really don\u2019t want. We see that a lot.
\nKevin:<\/b>\u00a0 I wonder sometimes \u2013 and we touched on this earlier in the show, too, Ben \u2013 whether this is just a generational thing where first-home buyers or young people are genuinely looking for something more than what they can actually afford. In other words, their requirements are outstripping their capabilities.
\nBen:<\/b>\u00a0 Yes, this is very common, and as I mentioned earlier, at the very beginning, they get it wrong. [4:40 inaudible] <\/b>for a property that\u2019s actually not within their budget, and that\u2019s where they get it wrong. Or they might see a sale that happened in that suburb six months ago for their budget but the market is moving so quickly that now it\u2019s unrealistic. So yes, we see that a lot.
\nKevin:<\/b>\u00a0 Just in closing in the minute or two we have, could you just give us the best pieces of advice you have for first-home buyers to get into the market?
\nBen:<\/b>\u00a0 There are three critical things. One is prepare and have a plan that is actually realistic from the beginning. That is critical. Number two, they need to take full control and full ownership of the process, and that comes down to really educating themselves, getting good at asking questions of the real estate agent, etc. The third we see is resilience. You need to prepare yourself to miss out. It\u2019s going to happen, and we see a lot of first-home buyers get broken as a result. They\u2019re the three things.
\nKevin:<\/b>\u00a0 That third point you make there leads a lot of people to make fairly big decisions rather rapidly that could lead them down the path of making the wrong one \u2013 in other words, \u201cI\u2019m just fed up with this. I have to buy something,\u201d and they\u2019ll go out and maybe spend too much.
\nIf I can just take you back to the first point, which was you said about making a plan. Who should be involved in that? Tell me the sorts of people we should be talking to to help get that plan together.
\nBen:<\/b>\u00a0 Here at Cohen Handler, we have a designated program to help first-home buyers, and that\u2019s really about formulating this plan to actually understand \u201cAre your expectations realistic?\u201d And that\u2019s mission-critical, number one. Can you actually afford to be in this area? And if not, let\u2019s pivot and change, and make it realistic.
\nKevin:<\/b>\u00a0 Ben, it\u2019s been great talking to you. Thank you very much.
\nThe bottom line, I guess, is to do your homework, do your research, be prepared to maybe go down a few dry gullies, but stop whinging. Is that the message?
\nBen:<\/b>\u00a0 Absolutely. Stop whinging and put effort into preparing.
\nKevin:<\/b>\u00a0 Good on you. Ben Handler, CEO of Cohen Handler Buyers\u2019 Agents. Thanks for your time, Ben. Nice talking to you, mate.
\nBen:<\/b>\u00a0 Thank you very much.<\/p>\n","protected":false},"excerpt":{"rendered":"

  In our feature interview this week, we take you through the little white lies you might hear from time to time as a buyer. \u201cThe owners are expecting an offer\u201d, \u201cThe seller has not set an expectation\u201d \u2013 in fact there are 8 that…<\/p>\n","protected":false},"author":176692471,"featured_media":8706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,13,24],"tags":[101],"class_list":["post-8701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-latest-story","category-shows","tag-podcast"],"yoast_head":"\nThe \u2018white lies\u2019 and what they mean + Stop winging about \u2018unaffordable property\u2019 - 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\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The \u2018white lies\u2019 and what they mean + Stop winging about \u2018unaffordable property\u2019 - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  In our feature interview this week, we take you through the little white lies you might hear from time to time as a buyer. \u201cThe owners are expecting an offer\u201d, \u201cThe seller has not set an expectation\u201d \u2013 in fact there are 8 that...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/\" \/>\n<meta property=\"og:site_name\" content=\"Realty Talk\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-28T00:00:13+00:00\" \/>\n<meta name=\"author\" content=\"rolanrush\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rolanrush\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"42 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\\\/\"},\"author\":{\"name\":\"rolanrush\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"headline\":\"The \u2018white lies\u2019 and what they mean + Stop winging about \u2018unaffordable property\u2019\",\"datePublished\":\"2016-07-28T00:00:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\\\/\"},\"wordCount\":8426,\"commentCount\":1,\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"podcast\"],\"articleSection\":[\"Kevin Turner\",\"Latest Stories\",\"Shows\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\\\/\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\\\/\",\"name\":\"The \u2018white lies\u2019 and what they mean + Stop winging about \u2018unaffordable property\u2019 - Realty Talk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2016-07-28T00:00:13+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The \u2018white lies\u2019 and what they mean + Stop winging about \u2018unaffordable property\u2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\",\"name\":\"Realty Talk\",\"description\":\"Your Trusted Voice For Property Investing. Anywhere, Anytime.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\",\"name\":\"rolanrush\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"caption\":\"rolanrush\"},\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/author\\\/rolanrush\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The \u2018white lies\u2019 and what they mean + Stop winging about \u2018unaffordable property\u2019 - Realty Talk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/","og_locale":"en_US","og_type":"article","og_title":"The \u2018white lies\u2019 and what they mean + Stop winging about \u2018unaffordable property\u2019 - Realty Talk","og_description":"  In our feature interview this week, we take you through the little white lies you might hear from time to time as a buyer. \u201cThe owners are expecting an offer\u201d, \u201cThe seller has not set an expectation\u201d \u2013 in fact there are 8 that...","og_url":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/","og_site_name":"Realty Talk","article_published_time":"2016-07-28T00:00:13+00:00","author":"rolanrush","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rolanrush","Est. reading time":"42 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/#article","isPartOf":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/"},"author":{"name":"rolanrush","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d"},"headline":"The \u2018white lies\u2019 and what they mean + Stop winging about \u2018unaffordable property\u2019","datePublished":"2016-07-28T00:00:13+00:00","mainEntityOfPage":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/"},"wordCount":8426,"commentCount":1,"image":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/#primaryimage"},"thumbnailUrl":"","keywords":["podcast"],"articleSection":["Kevin Turner","Latest Stories","Shows"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/","url":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/","name":"The \u2018white lies\u2019 and what they mean + Stop winging about \u2018unaffordable property\u2019 - Realty Talk","isPartOf":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/#primaryimage"},"image":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/#primaryimage"},"thumbnailUrl":"","datePublished":"2016-07-28T00:00:13+00:00","author":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d"},"breadcrumb":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/channels.realty.com.au\/realtytalk\/the-white-lies-and-what-they-mean-stop-winging-about-unaffordable-property\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/channels.realty.com.au\/realtytalk\/"},{"@type":"ListItem","position":2,"name":"The \u2018white lies\u2019 and what they mean + Stop winging about \u2018unaffordable property\u2019"}]},{"@type":"WebSite","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#website","url":"https:\/\/channels.realty.com.au\/realtytalk\/","name":"Realty Talk","description":"Your Trusted Voice For Property Investing. Anywhere, Anytime.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/channels.realty.com.au\/realtytalk\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d","name":"rolanrush","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","caption":"rolanrush"},"url":"https:\/\/channels.realty.com.au\/realtytalk\/author\/rolanrush\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts\/8701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/users\/176692471"}],"replies":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/comments?post=8701"}],"version-history":[{"count":0,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts\/8701\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/media?parent=8701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/categories?post=8701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/tags?post=8701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}