I have just spent some time researching an area and found the agents had high prices on houses.(for +ve cashflow) However when speaking to older locals they showed disbelief that prices were so high. Nice story, I know, heres my Q.
Anyone know any good techniques to find and set up good private deals in country areas[cowboy2].lifexperience
Lifexperience
“Anyone know any good techniques to find and set up good private deals in country areas”That’s the secret we all want to know[strum]
Suze
Just goes to show, growth has occured in a lot of areas over the last 2 yrs, and that a lot of people, particularly the elderly, do not know the true value of thier homes..
Tip– *nsduegrtf#@ should be cheaper as *&nsgdu the YThguisim &6%^@
Secret Squirrel[fear]
“Money is a currency, like electricity and it requires momentum to make it Effective”
Hi there,
Walk upto the agent and show him/her that you are a serious investor and don’t have time for playing games. Tell the agent,
“Look, we can do one of two things, you can tell me what you want for it, then I can submit a lower offer, then you take it back to the vendor and come back to me with a higher price. Then I submit another offer and so on and so on…OR
You can just tell me straight away what the vendor really wants and If reasonable, I’ll give you a holding deposit today.
Which of the two do you wnat to play?”Once he/she sees you are serious, he/she should give in.
Kind Regards,
George“If You never never ask, you’ll never never know”
LifeX,
Perhaps the asking price is in line with market value. Check out homeprice.com.au or residex to find out the stated values. Sometimes people don’t know what their home is worth until they get an agent in to ask them. Whilst locals are astonished at the prices NOW, perhaps thry might change their minds if they put their own homes on the market. It’s probably a good reason for inexperienced sellers to get an agent. Otherwise, they sometimes think in terms of 1964 prices, and undervalue their home.
kay henry
Redwing – Ah yes, now i understand. Hang on let me see if this LSD tab will de-code your gibber.
….Oh of course sell the vendor to the agent and then jelly wrestle the silk penguin. taGeo- I like the upfront technique you suggest with agents! my question was about private deals ie no agent.
Anyone got a strategy (business card in letter boxes, ads at rsl etc?) that has worked?[stun]
a friend of mine said he knows when his offer is too low cos the seller will chase him down driveway with a rake. He gets a blank stare and looks to the distance when telling this story.
lifexperience
Hi L.E
[party]was only joking [biggrin]
Setting up and sourcing good deals in Country areas…
Easiest answer is to put yourself in the other persons shoes, if you lived in a country area, how would you sell, why etc ??
Answer this and you’ll answer a lot of your questions..i.e would you reply to a letter drop from a R/E agent or a private party ? or just chuck it in the bin..??
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Put yourself in the shoes of the locals.
If the houses around you were getting ridiculous money in your opinion and you were looking at selling, would you:
A. Sell it a the price you thought it was worth OR
B. Get on the bandwagon and get as much as possible since it is your money you are playing with. (case in point – Collie, WA)Secret deals below market value done privately – I very much doubt it!
All locals I speak to in regional NSW are actually a little annoyed that City investors are pushing up the prices to a unsustainable level, making buying a house on a low income almost an impossibility.
Why does this bother them you ask? It means their kids can’t afford to buy.
‘Eat rich food, barbeque a yuppie’ [greedy]
I actually live in a country area. I have long suspected, the real estate agent deliberately lists at 20% above what the vendor actually wants.
Most locals know this and offer substantially less than the listed price.
Trouble is, outside buyers do not know this and are willing to pay the listed price as it is cheaper than the nearest city areas and they think you have to pay a premium for the country lifestyle.
As a result, our median sales are often up and down sporadically.
Another hint is the agent needs to make enough sales on a regular basis to stay in business.
During quiet times, it may be necessary to crunch the vendor just to get a sale in for that month.You just have to hit it at the right time, to get a bargain.[biggrin]
If you want to get out of a hole, first stop digging.
RugbyFan..
I visited Collie many many months back, and you’re spot on !
The real estate agent in town cottoned onto + geared IP’s and even started advertising as such, prices started creeping up, locals ( tenants ) even selling and buying in another area ( new ) of town..
No work in the area for the youth, a local i spoke to was selling due to increased prices and moving out so his daughter could find a job..
agree with Steve re: spending time talking to the locals..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
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