Sydney - the coming correction 2018-2022

It's called tough love. His suggestion to learn the art IS saying learn how to fish for yourself.

Retired! LOR! But no, I don't have any skills.........

 

Agree, that is the case with many out there, but I do believe that they are not all the same & have heard some good feedback from some.....and some woeful feedback from others. The other issue is that there are some purchasers who are time poor or too lazy or even too scared to make the first move and NEED a BA to hold their hand.

I've never used one, but know of a few people who have & are happy with their purchases.

 

Hmmm....... I would ask the BA how many properties they have first....run a mile if they have less than a handful.......also you can't fix stupid.

 

Agree. Too many buyer's agents don't themselves own property. It doesn't mean they are not good, but it's worth knowing before you engage.

 

OK John...spotlight on ya...what do ya own?

 

Yes...I am curious too...

 

Nope nope. Public forum. Happy to say that I own more than average (though I suspect most on this forum do as well), and all in Sydney.

 

Ok ...no need for exact details just some examples....so we can sort the wheat from the chaff ...know what i mean guvnur...

 

Fun fact.....many years ago now, we got invited to a meeting with someone through Hubbys work. All I knew at the time was that these people seem 'interesting', and have a bit of property. Turns out it was a well known Buyers Agent & his partner, who were starting out. Lots of photos of their first purchases which were all in the West. We'd bought around the same amount of them at the time, & theirs were inferior to ours, AND they paid more for them than we did. Didn't tell them that, though. They wanted us to come on board & were boasting about all the money to be made, not only through BA, but also reno's. I won't say the name, but the initials PG & lots of grey ex-housing commission places will tell most who it was.

Just because they own properties does not mean they have done well, just the same as not actually owning anything at all. For all you know they could buy/sell, repeat.

No, that you can't.

 

And it took Today Tonight (or was it ACA? So long ago now I can't remember ) to expose him for the charlatan that he was- lots of underhanded undisclosed kickbacks passing hands, as I recall.... that led to his eventual downfall.

Agree 100% with you @skater on the "how many IPs do you own?" scenario when interviewing BAs and thanks for the kind reference my way for the Hills Like @John_BridgeToBricks I'm not going to divulge my own portfolio on a public forum but suffice to say I've bought, renovated, developed and sold both residential and commercial property personally over a period of 28 years now so I've seen a few cycles It's not really about the number per se but more the experience, knowledge and skills that count in buyers agency practice. Also, going into our 14th year of buyers agency business means we've been around and know our stuff I like to think that our happy clients, solid track record and industry awards speak for themselves, for those buyers who so wish to avail themselves of our services.

Of course engaging a BA isn't for everyone, just like those vendors who like to sell themselves, those DIY handypersons who like to paint/fix/build themselves, those who prefer to lodge their own tax returns rather than pass it over to an accountant/bookkeeper etc etc. Hiring a BA is an outsourcing service, just like many other services out there, and it's completely up to the individual to decide if the service is right for them.

As an aside, and as I also work as a contract trainer for the REINSW, I see many starry-eyed learners come through the classes, thinking they can obtain a BA licence after 8 days of face to face learning (min requirement here in NSW via Cert of Reg and 4 units of competency training for BA portion of Cert IV in Property Services) and then expect to hang up a shingle and engage with clients asap. Make no mistake- it's hard work and takes drive, commitment, experience (preferably gained first by working for another agency under supervision for a period of time) great marketing/networking and genuine enthusiasm/desire as well. There is also SO much to learn about real estate itself, that I would strongly encourage anyone considering BA work to obtain their complete RE licence, not just the BA portion- do the complete Cert IV course (AND the BA units) and be one step above your competitors. With licensing changes coming regardless, the higher skilled you are (even if only theoretically to begin with) the more chance you will have of gaining employment, increasing understanding and being better equipped professionally in the industry. OK rant over

 

Wasn't sure if this was the best place to post this:

We’re for Sydney | Daily Telegraph

 

14 years Jacque, since you started your business. Seems like only yesterday.
OMG.
I feel even older now

 

Haha, yep! Me too!

 

One of the reasons we didn't accept their offer.

 

@sash Didn't get to chat to you about this last night, whats your thoughts and what you seeing out there?

 

Yeah...mate we chatted but not enough...good turnout...well done on getting a stellar result on one of your Druie sales....

Carnage in Sydney...Melbourne is also down...but not as bad outer areas are doing okay but some are down.

Was up in Brissie...my gut is telling me that is about to move quite well...obviously.....not to the same degree as Sydney...but a 20-35% gain over 3 years is not out of the question. Also I am referring to more owner occupied areas....banks are okay with lending in most of the better part of Brissie...as opposed to pessimistic for Sydney and most parts of Melbourne.

 

Thank you! I agree with your observations also, this one bloke I meet a while ago believed one area would grow 66% in Brisbane in the next few years, he was super confident but didn't say where...

 

That might be a big ask as that would almost be Sydney's growth.... but hey won't complain if that happened!

 

Corelogic has Melbourne and Sydney down roughly the same YOY, perhaps because Sydney turned a few months prior to Melbourne that is why it’s doing worse now.

Corelogic still not going to be as accurate as being on the ground.

 

I see Sydney being mcuh worse as people are still going from Sydney yo Melbourne because of affordability. Outer Melbourne....is doing ok.

 

I would pay little attention to the data from them....look at sales.