Which option describes your approach best??

Which general approach with all your property dealings do you ascribe to: Please no judging.

 

I picked 5, but really it's a mixture of 2 and 5.
Changed my vote to 2, probably more 2 than 5.
Not always tough negotiating tactics, read the lay of the land and be flexible depending on my feeling of how each situation is going. Sometimes you catch more flies with honey than vinegar.

 

I picked 2 but I would probs do a little bit of 4. I would lie for sure, not cheat or intimidate though. We are talking big dollars and REA by the very nature of their position are not to be trusted so you need to keep a few tools in your toolbox. I have done a couple of things that I am not exactly proud of to secure good deals, but really as a method to even the playin fields a little bit.

 

Hehe, well at least you're honest - about lying.

 

@Inov8ive Option 2 doesn't mean you don't lie

i guess option 4 is a more ruthless, destructive approach. .

I have seen people threaten the REA to get back to them first, i kid you not lol

 

@Azazel this is business after all
But yeah its totally not cool to intimidate your way into a deal. And I have seen it as well. When I sold my place in Gladesville via an auction, a guy with a pose of three burley looking islanders was trying to intimidate the auctioneer and the other bidders, seriously not cool. And it really doesn't work. Brains before Braun any day, and it always feels much better when you outsmart your opponents in a deal. Best feeling.

 

Looks like I'm the only sucker who doesn't drive a hard bargain.
I was looking for Sash' 'drunken elephant' option, which also describes my style.

 

Depends on the market, I picked 5 but I would also pick I little bit of 2 and maybe 3. I've only ever once paid over the asking price and that was by 1k in a hot market.
While I try not to give too much away I wouldn't consider doing anything unethical either.
I have found a couple of times that if the agent knows you are a serious buyer they have been the first to name a price which is under the list price. The agent potentially is more favourable when you are again interested in one of their listings after purchasing previously in my experience

 

I think it depends a lot on the market

 

Hi @Rockys I agree with you. I just assume most of the folks here won't be doing most of their buying in hot/boom times and will be buying in more moderate buying environments.

 

Yeah, I generally prefer to buy closer to the bottom of the market than at the top - or at least a moderate market and not a hot market.

 

The only thing about buying at the bottom of the market is- You never when it is the bottom. I prefer to buy at around 8pm. Just as it starts rising.

 

Yeah I like round about 7-9pm, or as close to that time as I can guesstimate. Timing the market is really not as hard as people make it out to be and you don't have to perfect. There are some good indicators that suggest a market may have some good growth ahead. No guarantee but at the same time, take Sydney now. The probability of it continuing to have great growth is less likely than it is for some places in Brisbane to have good growth in the years ahead. Many areas of Perth are also slowing down so it doesn't take an Einstein to work out that perhaps be cautious with Perth.

1. Common sense
2. Data (all kinds)
3. Public sentiment (crown mentality)

I use those 3 factors when trying to determine where a market may be or may be heading. I have found you cant go too far wrong with that approach imo.