The Elephant In The Room Property Podcast | Inside Australian Real Estate

Amanda Farmer is the go-to-expert in "strata world" with over 15 years experience as a strata lawyer. Amanda is also a fellow podcaster with over 100 episodes under her belt and she lifts the lift on many of the problems and opportunities she sees with strata. Here are some of the 'aha' moments: Why you should get involved with your strata committee and the best way to do it What well-run buildings do and the difference between a strata committee meeting and a general meeting Why you should buy “Eyes wide open” and know exactly what you are buying and the condition it is in. Why you need a ying to your yang when buying and how two peas in the pod don’t work The ongoing plague of poorly built building defects and why you wouldn’t want to buy new buildings. The danger of a low valuation when buying off the plan and why you need to be aware of the risk. The harsh reality when you buy off the plan is you are sign contract today but are totally committed for many years ahead The  awful sunset date and why off the plan contracts are water tight to protect others The crazy situation when buildings over 4 stories do not need insurance Why building defects usually start after 8 years, when times up on insurance This is one of the most elephant filled episodes and you should not buy into a strata complex unless you've truly listened to this brilliant advice. Link to Amanda's podcast, ebooks and other resources: https://www.yourstrataproperty.com.au/See omnystudio.com/listener for privacy information.

Pete Wargent, arguably Australia best property blogger and a buyers agent in Brisbane, Sydney and London, opens up on the Brisbane property market amongst many other things. Pete has a brilliant mind and he explains why understanding demographic shifts is so important to investors. If you are looking to buy in Brisbane, don’t even consider it until you’ve listened. How you can learn to be a better invest by finding the story through picking through data How you can watch demographics shifts by tracking data and see city evolving    How we have a very short term memory when investing How leverage works much better when you are younger How Brisbane is rebalancing, the property and areas to target if you are an investor   The problems with investing in higher yield areas How buying land is the true scarcity in inner rings How some style of property go for big money right now How buying Pre-Market & Off-Market is much more common in Brisbane This is one of our first episodes going in to detail about investing in Brisbane and we will be going there in October to interview more Brisbane locals. Links: http://allenwargent.com/who-we-are/pete-wargent/ Articles on Pete's research into the impact of Labor's proposed tax changes: http://petewargent.blogspot.com/2018/02/high-risk-alert.htmlhttps://www.livewiremarkets.com/wires/impacts-of-labor-s-proposed-negative-gearing-and-cgt-reforms https://www.news.com.au/finance/real-estate/sydney-nsw/labor-housing-reforms-would-have-unintended-consequences-report/news-story/4ac931a05b4e1094018dadf667ceb511 https://www.riskwiseproperty.com.au/News/impacts-of-labors-proposed-negative-gearing-and-cgt-changesSee omnystudio.com/listener for privacy information.

The inner workings of the Melbourne property market revealed. Buyers advocate Cate Bakos reveals all the quirks of her local market and the advantages she gains from knowing the real estate agents better than any individual buyer can. She also gives loads of practical tips on how buyers can keep money in their pockets. We cover:  What’s happening in the Melbourne property market? Will it follow Sydney? How first home buyers have created a dual speed property markets. Chinese buyers, oversupply and whether some apartments are good investments The impact of traffic and public transport on property prices and what creates sustainable growth. Auction underquoting and whether it still exists. What is a boardroom auction and why buyers agents love them. When to make a pre auction offers if you need a cooling off period. Where does a buyers agent add value and the advantages of local knowledge. What is vendor advocacy and when/why/how is it necessary? Where and what to buy in Geelong & Ballarat. Plus fundamental tips on what to look for when buying for capital growth. Link: http://www.catebakos.com.au/ See omnystudio.com/listener for privacy information.

What impact does the media have on the property market? In this episode, property writer Kirsten Craze is brilliantly open in sharing the flaws in media world and explains how to find articles we can rely on. Here's what you'll learn: How different headlines can be in just one week and why they can’t be relied upon. How to tell the difference between journalism, PR and an opinion piece. Over-reserve auction results - are they real? For the real story read the comments on news articles about “get rich quick” schemes. How to leverage on supply and demand when making offers. Why the media taps into "everyones got an opinion" on the Australian dream of property ownership. Buyers have lost their imagination and it's important to look past pretty pictures and styling to know you’re not buying the furniture. The message is loud and clear in this episode: the media is a minefield and you need to know how to read between the lines!  Links:  https://www.linkedin.com/in/kirsten-craze-111367167 How to choose a good buyers agent: https://gooddeeds.com.au/buyers-agents-sydney/choose-buyers-agent/ See omnystudio.com/listener for privacy information.

Will legislation make or break Airbnb in Australia? Quirin Schwaighofer, COO of Made Comfy is extremely positive about the future of the short term rental market although he's also very clear about the elements required for success. Here's what you'll learn: The type of property that lends itself to short term rental and the types of owners that are most suitable hosts. The attention to detail required to delight short term guests. The difference an X-factor can make to profit and what makes Australia’s best studio apartment so special. Renting out a room versus making the whole property available for guests. The impact of new legislation on short term rentals in NSW and how the 180 night limit will change things. Holiday houses and what works and doesn’t work for Airbnb. The complexity of managing short term rental pricing and the optimum occupancy rate. The myriad of risks and how to mitigate them. Lifestyle versus investment decisions and why they need to be separated. The real impact of Airbnb on the long term rental market in different cities. The message is loud and clear in this episode: short term rental is an investment strategy that carries a lot of risk and careful planning is required to get it right. This podcast is a great place to start! Links: Made Comfy Australia short term rental report 2018 Made Comfy free short term rental pricing analysis tool Made Comfy overview of NSW short term rental legislation Veronica's 14 things to consider before buying a holiday homeSee omnystudio.com/listener for privacy information.

How to tell the difference between advice and a sales pitch. Plus agent tips for negotiation and auction bidding. TOP 3 THINGS THAT MAKE THE GUEST FAMOUS Manly/Fairlight local specialist Sales agent Uses Facebook extensively to market property TOP 10 THINGS THAT WERE SPOKEN ABOUT How she uses Facebook both as a marketing and productivity tool. How and why she gives advice on competitors’ listings. The questions she recommends buyers ask to test whether a property would get competition in good times and bad. The behind the scenes local knowledge that buyers need in order to make good decisions. What makes an expert negotiator. Can buyers still overpay in a buyers’ market? How she handles vendors who will be disappointed about their sale price. Steps buyers should take when making an offer. What is a 66W and why is it so important? What happens if you back out during a cooling off period.   TOP  TEN LIST  OF TAKEAWAYS.  (BIGGEST ‘AH-HA’  MOMENTS) Her use of social media to foster relationships with buyers and build trust. The difference between north and south side of Fairlight and which properties are the best. How an effective sales agent glosses over their listing’s negatives. How buyers can get an advantage when negotiating and get the agent to back their offer with the vendor. Why she doesn’t usually negotiate on a weekend. The unconscious signs buyers give to agents. Vendors can’t control when they list, there’s a bit of luck of the draw in picking an auction date. Georgi’s tips for bidding at auction and mastering body language. How to do your research so you can best present your offer. Differences in the type of advice given by solicitors and why you shouldn’t wait until Friday to get your contract reviewed.   TOP SIX QUOTES “That is the big thing because good agents will be working the auction floor. Okay. You’ll soon know, so no matter what the dialogue has been with a real estate agent to say, oh yeah, we've got six contracts out, or we've got ... you're going to know how many contracts are at outcome auction day. If you've watched your registration table to know who has registered.”   “Then the important thing is watching the body language, so it's not all about the auctioneer. Let the auctioneer go in and do their thing, but where I find it's really important is watching the body language of the people that you're going to be competing against.”   “And auction's theater, it really is. There are. You can actually scare off your opposition by being that person who's got the endless bucket and so often when I go and work a crowd and someone has done that, people say “ha, we're just going to stop now”. Because we don't know if that person is going to keep going.”   “We're also finding now with it not being a hot market, it's more a buyer's market, the vendors market and lending capacities have changed, that we are a lot more open to now going to the cooling off periods and giving people that little bit more time that they need.”   THREE  TOP ACTION  ITEMS YOU WANT  SOMEONE LISTENING  TO THIS AUDIO TO DO  AT THE END OF IT?  See omnystudio.com/listener for privacy information.

Who is Australia’s most famous property dumbo?   A case study that shows the cost of not learning from our mistakes.   Have you ever thought that if only you had more money, then you’d be able to buy the right property? Well in this episode we discover that wealth alone does not protect people from making expensive property mistakes. We trace the decisions, purchases, missteps, court cases and sales that resulted in losses totalling over $2 million in the span of a few short years. The thing is, this couple made some mistakes that nearly every property buyer makes at least once! If they’d only been given some good advice (or heeded it) along the way, they could have avoided a lot of pain. We can certainly all learn from this case study.   CTA Due diligence checklistSee omnystudio.com/listener for privacy information.

How to to best prepare for the experience of owning an apartment or townhouse. Strata manager Reena van Aalst gives an in depth perspective on strata living, highlights the pitfalls for the unwary and advises how to ensure you don’t live to regret buying into a strata complex. She gives us the benefit of her experience and uncovers: The crucial information missing from most strata reports. Early warning signs for buyers that a building could be a no-go zone. Issues that cause pain for buyers of new apartments. Horror stories of buyers who’ve bought without doing a strata report. The type of buyer best suited to strata and those who should never buy an apartment. Why your lawyer may not warn you of all the pitfalls. What to do if you want to buy into a pet friendly building. What rules can be enforced and to what extent. How to best prepare for the experience of living in a “democracy”. The responsibility of an owners corporation and consequences if they fail. How entitlements and levies are calculated. What a capital works forecast is and how they can be used. Why special levies are raised and what owners can do about them. How much work a strata manager does and how to get rid of a dud one.   All this as well as explanations of multifaceted strata, cost-sharing, community title, building management committees, tumelo and other things you’ve probably never heard of.   Links: Reena’s website: www.stratacentral.com.au   Veronica’s strata report video: https://gooddeeds.com.au/buyers-agents-sydney/7516/   Social heading: What do strata inspectors look at when writing a report? What SHOULD they be looking at?   Below are the social  profile links:   https://www.linkedin.com/in/reena-van-aalst-3487b76/   https://twitter.com/strata_centralSee omnystudio.com/listener for privacy information.

What falls in value the most in a buyers market?   The best times to buy and sell in the inner city.   Ever wondered why some properties get lots of buyers fighting for them and others struggle to sell? In this episode with Mark Foy from Belle Property we go beyond the agent sales spiel and discover what makes an A grade property, and a B grade one and even a C grade… We also find out:   Why the market in inner Sydney is very different to the rest of the country. The one market segment that’s really “firing” at the moment. What’s causing a shortage of listings. When B&C grade properties can get A grade prices. How to time the purchase of a B grade property. How and when they get a buyer to make a pre-auction offer. How a “Dutch auction” works in real estate. When is gazumping OK? The best time to sell in the inner city and where the bargains are. The pitfalls that out of area buyers don’t even know exist. How buyers can get the most out of agents. The cost of buying the wrong property. Interest only loans and the impact on owner occupiers versus investors. How to know values so you won’t miss your perfect property.   Timing the market has never been more important!   Links: https://www.belleproperty.com/surry-hills/mark-foy/ Veronica's case study: an A grade versus a B grade.See omnystudio.com/listener for privacy information.

Is it possible to do long term property forecasting?   Have you ever wondered what you should be looking for in a property? Should we look for new infrastructure and/or anticipate the impact of driverless cars, noise cancelling and the changing nature of the workplace? The answers are in the data and Luke Metcalfe opens a fascinating window into what really matters. We discover:   How machine learning can help us understand the property market and where it falls short. The 8 criteria that matter when determining future price growth. The importance of liveability and how it impacts land value. What else you need to know about train stations. Problems with short term data versus long term hold strategies. What banks do with renovation data. 3D imaging, voice activation, drones & image recognition; what will they mean for the property industry? Red herring data and the truth about space and tranquility. The ethnic predictors of poor growth. The behavioural biases that good data can help us overcome The future meets the past in this interview. And don’t miss the biggest single factor that affects price growth. Links: www.microburbs.com.au www.rapint.com   Social headlines: Is Sydney becoming a London, a Shanghai or a Miami? The biggest single factor that affects property price growth   Social media profiles: https://www.facebook.com/microburbs/ https://twitter.com/microburbs https://twitter.com/orchyluke?lang=enSee omnystudio.com/listener for privacy information.