The PROPERTY DOCTORS, Sydney Australia Novak Properties
NOVAK PROPERTIES CREW and PROPERTY LEGENDS in the industry share their experiences and knowledge. Hacks and tips to make you a smarter property GURU :) Learn with exclusive content, advice, insider info and HOT real estate industry PRO SECRETS. For sale, for lease, residential, commercial, buying off the plan, finance, mortgages, interest rates, first home buyer, investments - all topics covered. The untold real estate info you've been waiting for.
The PROPERTY DOCTORS, Sydney Australia Novak Properties
EP.1357 Buy First? Sell First the Impossible Possible Juggle
Can mastering the art of real estate transactions really lead to your dream home? Join us as we unlock the secrets to successfully buying and selling property simultaneously, avoiding the pitfalls, and making confident decisions throughout the process. From the critical first step of listing your property to the nuanced dance of negotiations, we share actionable insights and real-life examples to help you strike the perfect balance. Our discussion emphasizes the importance of choosing the right real estate agent, establishing clear goals, and adopting a strategic approach where selling first can secure the best price while buying later allows for optimal negotiations.
As the new year unfolds, we offer market strategies designed to enhance your real estate efforts and maximize your returns. With a focus on the advantages of a soft market approach, including pre-market activities and the unique opportunities like Novak's $0 marketing special, we highlight how transparent communication with your agent can turn challenges into opportunities. Our insights are crafted to equip you with the tools for a successful real estate journey, whether you're selling, buying, or planning for the future. Tune in for a wealth of advice aimed at transforming market challenges into stepping stones toward your real estate success.
Guys and girls, the impossible possible juggle when you've got a place to sell, you found a place you want to buy. We're going to give you some short, sharp tips. Stay tuned.
Speaker 2:I'm the ringleader, so watch it out. Good morning, good morning Big 2025,. First one to start us off for the year Mark.
Speaker 1:Year. Definitely is, definitely is. Hey, I saw a great idea this this morning. I just want to share with you yes, and what's that? I saw a truck called potholes sydney and it said 99 we can quick, easily and reliable fix your pothole really what a great idea.
Speaker 2:They might be busy on sydney's roads with the amount of potholes you see around eh.
Speaker 1:Why didn't I think of that?
Speaker 2:I know that's normally something you'd come up with a little gimmick that solves all your solutions.
Speaker 1:Yeah, absolutely. Now I've got to tell you this is a big topic that we're talking about. I've got to tell you this is a big topic that we're talking about and it's a huge one, where people, you know they've got their finance organised, they're living in a great place. They want to get out of it. They've seen something like can you explain to me why this is so hard in people's mind before we get into some strategy?
Speaker 2:Yeah, I really think it's. I mean, that step, the first step, is actually really the biggest one. So I feel like just getting moving in the direction of you know, making those moves is probably the biggest thing or the most daunting for people. Making those moves is probably the biggest thing or the most daunting for people. I know speaking from a lot of people recently who are looking to make that move, who are, say, at Beacon Hill, Davidson, want to make the move down to, say, Freshwater North, Curl Curl. These are the conversations we've been having. It's generally the first step of you know, where do I go? How do I simultaneously ensure that I'm selling my property in time to purchase, or I find something to purchase by the time I've sold? So it's that first step, I think, and then, once making that first step, which we'll talk about, it only gets easier and easier. What about you, Mark? What have you seen?
Speaker 1:Look, I think the catalyst seems to be actually putting it on the market. I don't know how to, and what I mean by that is a lot of agents' strategy is put your seatbelt on. We're gonna take you for a freaking massive roller coaster ride. Your hair's gonna be in the air. We're gonna turn you upside down. You're gonna go quick left, quick right and then you're gonna be sold at the end and a lot of people are like, ah, I'm not ready for that. So they just don't do anything. They don't. They don't get a buyer through, they don't get a contract. They just don't do anything. They don't get a buy-through, they don't get a contract prepared, they don't get anything done on their place. And probably one of the first parts, and probably the biggest parts, of my advice is just get it on. Choose your agent, authorise that agent and get through their database, and I think you'll find there starts to become this flow, whereas it just chokes up right at the beginning, before you even start.
Speaker 2:Exactly right, exactly right. And I think introducing that, what we call a soft launch, helps just calm those nerves. I know some people aren't the biggest on your big signboards out the front, that sort of a thing. So I think you're exactly right in saying just get it on the market, get it through the database. And these are the conversations we've been having with clients.
Speaker 2:Like, what I like to say to them is guys, we're trying to paint a picture for you and you know how are we meant to paint that picture, put that puzzle together if we don't know what the pieces look like. So I think getting that feedback from buyers and knowing where your value sits is quite an important piece of information and that then goes on to paint the rest of the picture of whether, of how much you're borrowing what, what can I buy? Where am I going to be looking, um. So I think, yeah, definitely just gives you that sense of not what ifs, but a bit more concrete um, in regards to getting that solid buyer feedback, because you know rp data, realestatecom, all these websites can spit out, you know whatever numbers at whatever time, but nothing beats a. You know your buyer feedback and running some buyers through. So, yeah, definitely agree with you there, mark, and.
Speaker 1:Josh, I think getting your, I think you've got to tell the agent where the goalposts are. Sometimes you know the agent walkthrough through it's very cookie cutter. It's like this is what we do, this is how we do it. You know I call it FIFO fit in or fuck off. You know it's like this is what we do, but it doesn't have to be that way and I think, as a seller, dump on your real estate agent, let them know exactly what you're trying to achieve and ask them for solutions.
Speaker 1:To backbone that, because I often find that when you just get your property on the market now, I think one of the strongest principles out of today that I would say is sell first for the highest price, take time. Buy later for the lowest price, take time. Time is very, very important not to rush it. You rush yourself and you rush your buy. Then you're rushing yourself, so you've got to be taking time to get these results. But I think at that pre-market that you do that. Why that I do that? We do. I think it's a really nice zebra segue. It's very metal on metal, your campaign. You need a bit of lubrication and I think you know that pre-market is that segue to getting started into your selling campaign.
Speaker 2:Yeah, definitely right, definitely right. I think that soft approach it almost conditions you, as the seller as well, to get ready for that next step, if you need to take it by going online. So, yeah, I want a very good point, but, uh, from our very own lisa novak, you can negotiate a long you can negotiate a long settlement to give yourself time to breathe and find a new home.
Speaker 2:This can be made reducible and that's exactly right. So, guys, having that longer settlement period and we're talking, you know, 22 weeks, six-month settlement, with the ability to then bring that forward once you know, once the other party or yourselves have found that home, so Elise is exactly right. You know, you can find that buyer, you can find that price and you can lock in terms that are going to suit you so that you can go and give yourself that time to find what you need and, like Mark said, don't rush into any decisions. So there's always a solution. It's just a matter of who you're using in terms of what agency. Some are going to have more solutions than others and that's about picking the right people. But good point there, lisa, thank you.
Speaker 1:So that's a redu, the right people. But, um, good point there, lisa, thank you. So that's a reducible settlement you can ask for to go into the contract. It can be negotiated. Uh, what what? Just to expand on that, you can say, look, I want to settle on the purchase that I'm buying in 20 weeks or 16 weeks or 12 weeks. You negotiate it, um, and then you say, look, but if I sell my property and I'll need, and the buyer that buys my property wants to be in there in four weeks, I want to be able to reduce that 16-week settlement, 20-week settlement, whatever you've you've agreed to down to four. So that's that pre-negotiated does get renegotiate, it does exist. Another one that I love is using the person that bought your properties deposit to buy your next property yeah, another big one.
Speaker 2:Do you want to expand on that one mark? You go for a mate, so it's been shot. So it just explaining that again, that's an early deposit release to buy your next one, correct?
Speaker 1:Spot on.
Speaker 2:Yeah, so in this circumstance, guys, obviously when selling your property, your solicitors will agree to your 10% 5% deposit, wherever it may be to exchange. What Mark's referring to is basically where both parties agree for the new purchaser to release that deposit before settlement and from there, obviously using those funds to go and purchase your or make your next purchase.
Speaker 1:So I believe that's what Mark's describing and yeah, Having that $100,000 in your account or $200 200 000 in your account to go and buy something. Who has that um? It's pretty rare. So having that deposit available, that's just when you've sold your place it's you know. The buyer puts that 10 in um on your property. It sits in the agent trust account mutually on your behalf. If you agree, prior or after the exchange it can get released to you to go and buy the next place. Pretty cool.
Speaker 2:Yeah, and something else I just want to touch on with, especially to Lisa's point and what we've been speaking about getting it on market. Lisa's point and what we've been speaking about getting it on market Guys, nothing's worse than all of a sudden that perfect property comes along and you've made the right offer, you've done the due diligence, but your terms let you down Now. That's why we say get ahead of the ball game, get it on market, get some of those responses and feedback so that when you do see that perfect property a lot of the hard work has already been done, essentially the photos, floor plan. We've presented the property we might just switch the button and we're online and start running open homes and you could be sold within the 14, 21 day average. So that would be.
Speaker 2:My biggest point is just making sure you're taking that first step ahead so that if you do want to move, if you're finding that property and it pops up, you don't want to lose it for terms, and that is the sort of market we're seeing at the moment, where there's more than one bidder for a property. So I think your terms are very important and that's why it's such a big topic about you know if you are considering selling or making the move, give it a go about what we're talking about. Pre-market soft introduction at least gets you ahead of the ball game in making those bigger decisions down the track and don't forget Lisa just mentioned deposit bonds.
Speaker 1:Deposit bonds are great because if you've got your finance approved and your property sold, you can go to a bond provider who gives you a 10 deposit or a 5 deposit. That, so, that do exist. Ask your finance person, um josh, before we go. Today we have spoken about buy first, sell first. The impossible juggle, impossible, possible juggle. Are there any tips you can give people out there that are experiencing this?
Speaker 2:um, yeah, I think I think the only the tip would be guys, the, the pre-market, the, the soft introduction, just getting the, the headway. I mean, we're obviously going to start seeing a lot more stock come online as, uh, you know we, we start the, you know the working start of the year. So my big tip would be soft market approach and obviously with Novak's $0 marketing special you can't go wrong. So that would be my tip Give us a call and let us just explain to you the process and how incredible it is at $0 cost.
Speaker 1:It is process and and how incredible it is at at zero dollar cost. It is and look a big part of it, guys and girls, is is fully just being completely straight up with your agent. Give them the problems, see if they can give you solutions. They're the agent that you want to get you the bed the best price as well. Um, so just work with your agent. Hopefully we helped you today and if you know anyone in this situation, forward this episode to them.
Speaker 2:Fantastic, awesome, thanks guys. Thank you, mark, thanks, see you. Cheers.
Speaker 1:Thanks, josh, you're a legend. You too, mate Bye. Do we still say Happy New Year now, or is it too late?
Speaker 2:I think we're past that now, aren't we?
Speaker 1:Happy Australia Day.
Speaker 2:See, ya, see ya.