Episode:	E142
Show Title:	How to achieve success in 2022’s property market
Cast:	Aaron Horne, John McGregor, & Patrick Berry
Show Length:	28 minutes 32 seconds

Seen a bunch more FOR SALES signboards in the suburbs these days? If you are one of the people with them adorning your property, or thinking of hitting the market… How do you turn that #FORSALE into #SOLD?

Special Thanks go to our new team editor, Izak, for his great work putting this latest episode together!

EPISODE TRANSCRIPT

Aaron
You know, there are more signboards gracing our streets. That seem to be a lot more properties that are hitting the market. I know I talked recently about walking the dog. If I told you about how I went viral with that bad boy.

Patrick
With the dog.

Patrick
With a little.

John
With the sign dog story.

Patrick
Yeah. Oh, right. You know, like.

Aaron
All over the weekend, over on Instagram, I kept getting like these. Like the public park got this new. Like the public park got this new. Like, we almost had this embarrassing. We’ve almost had more views on this 32nd video of me talking about walking the dog and looking at signboard. Then the history of the 150 episodes of the property.

Aaron
Oh, Amalgamated Together. Just this made talking about my dog I. I cannot comprehend it. Going one.

[INTRO MUSIC]

Aaron
All right, guys, welcome back to the Property Pod, your weekly engagement into real estate here in the Hobart marketplace. I’m your host, Aaron Horn, and it could be great pleasure to be joined by superstars of real estate here in Hobart. I’ve got it. First time, baby.

Patrick
You are an absolute natural.

Aaron
Sometimes online in bed and it’s just rolling through my head as I’m going through. I’m like, Get it right this way today’s going this way. Good. Today is the day. So to complete the introduction, John McGregor sitting over this side of the desk. How are you, my friend?

John
Feeling great.

Aaron
Looking, sharp looking sharp, I got to say. Thank you. So nice, Tweedy. Give us a run on that jacket. But before we go any further, this was.

John
One that I needed to. GAYDOS I’ve got the big winter jackets that I bought from Scotland, which are nice, you know, but I didn’t have anything for summer. So last year I was like, Well, I’m going to need a couple of linen jackets. This one’s a bit of a mix, but I wanted something with a bit of personality.

Aaron
And you’ve definitely nailed that. A fan would definitely know that made.

John
Sam Alright, we’re just having a discussion around about how hard it is to find jackets with personality in Hobart. Well.

Patrick
No. How do you interview with Jacket? I don’t know.

John
If I could said cool that it is.

Aaron
I suppose the funny bit is though there is a bring out the jackets. I’m sitting here sitting at the studio, I’m hearing you guys having this in-depth jacket conversation. I’m like, What are we doing talking property on this podcast? Let’s talk jackets.

John
Oh, man. It’s, it’s, it’s nice to have a kindred spirit in the office.

Patrick
Because then.

John
Everybody walks to the door and goes, Man, that’s a nice jacket. And see, the first thing that Erin thinks was, yeah, it was on sale.

Patrick
It’s got a little bit of $29.

Aaron
A guy close to my heart.

Patrick
Yeah, yeah, yeah.

Aaron
Well, on the polar opposite of that, someone who isn’t wearing a jacket and only quite regularly 40 wearing a t shirt and a cap. We’ve got the director of Foreign for Property Co, Patricia Barrie.

Patrick
I’m here, you’re here.

Aaron
You’re looking sharp, you’re ready to rock out. We actually sat down and discuss what we’re going to talk about yesterday, which is really point.

Patrick
Out I wore one of my new iPhone four shirts because it would be black and I knew that you’d be feeling I.

Patrick
Well.

Aaron
I’ve got I’ve got one for you, Sarah. If I put on the white one that’s got the fall one four, she’s like, oh, you’re recording the podcast today. Like, what does that mean? She’s like, I know, like the days that you’re recording because you try and look a bit better. Yeah, sorry. Yeah. As a plan, I was like, no, I’m.

Aaron
I’m going to throw you off the course. All right, boys. Jumping in to the real estate side of things, which we were meant to talk about. But look, jackets could be the topic of conversation for the rest of the day.

John
About setting yourself up for sale and setting.

Patrick
For success. In dressing yourself for success.

John
Well, look at these two with your property.

Aaron
It’s not so far off some of the things I was hoping to talk about today. So what we were thinking of going into is how to achieve a successful sale in the current market. So dressing your property for success is something that could come up in that discussion. So not a bad segway. Thank you, my friend. Well, I.

John
Think the best one is you were there yesterday at the property at Claremont and a lot of his work is absolute. Took us off to get this place absolute, you know, completely immaculate. And where, interestingly enough, he was the apprentice of the property. We sold it 31 Dowsing Avenue, which was that little cottage.

Aaron
That that old plot.

John
It was like, you know, every blade of grass was just perfect. Yeah, they went to that. They went, well, he knew that. Well, if we’re going to do this, we’re going to go all out and just so happens at the owner of to claim what was his apprentice, what’s that process and how successful it was and he’s just done that exact same thing.

Aaron
So he’s one thing I’m going to throw at you. It went before leaving the property. Like I’ve inside, I’ve taken on photos. It’s shift styled. It looks amazing. I’ve left and I’ve started taking a photo outside. Like I don’t say it’s a new build and then I’m like, No, I know I was inside, but from the outside, with the render and like everything that’s been done outside, it almost convinced me that was a brand new home.

Aaron
Yeah. Got inside. It was amazingly renovated, but. Yeah.

John
And unfortunately he’s because of his skills, he’s able to go to the next level. Of course, not all of us have that capacity and that was the discussion we had with him. He brought us in about halfway through this stuff, but because he wants that experience with his, you know, previously he went, right, we’re going to be moving interstate.

John
So I’m going to start this you know, start this process now getting the property address, because we know that it makes a difference. And when he asked us, look, what, you know, should we go to this extent? And I said, well, if you can, you know, he’s saving himself at least 50% of the costs. Realistically, if you were to try and employ something professionally and I said, okay, look like you can’t, we can’t control the market of what’s happening externally, but you can absolutely control the presentation of this property and it’s you’ve come this far.

John
Don’t stop.

Aaron
Yeah, no, look, it’s a testament to him and all the hard work he’s done. I’m really interested to see how it’ll go on the market as it is. I guess what we were hoping to talk about today is kind of the way the market’s corrected itself, and it seems to be settling into a bit of a state at the moment.

Aaron
It feels like a balanced market.

John
Yeah, it’s a good way to put it.

Aaron
So yeah, I thought, you know, there’s more signboards gracing our streets. It seems to be a lot more properties that are hitting the market. I know I’ve talked recently about walking the dog. Now if I told you about how I went viral with that battle.

Patrick
With the dog.

Patrick
With a little bit with the.

John
Sign dog story.

Patrick
Yeah. All right. You know, like.

Aaron
I’m all over the weekend, over on the Instagram, I kept getting like these. Like, you’ve probably got these new, like, the public. I got this new like we almost had this embarrassing we’ve almost had more views on this 32nd video of me talking about walking the dog and looking at signboard. Then the history of the 150 episodes of the property all amalgamated together just this may talking about my dog I.

Aaron
I cannot comprehend it.

John
That’s a problem. Dogs and cats. So, like, hit me the boy dog about the animals, let’s face it.

Aaron
Well, what am I doing? Photoshopping furniture into houses. Let’s just Photoshop dogs and cats in the place.

Patrick
This is ridiculous.

Aaron
It’s crazy. I can’t comprehend it. I didn’t do anything different. I posted it up and it just seems to keep.

John
Oh, maybe the thing is, is that we do need one little flag every episode when we reference pets. And that’s the same way with pets.

Aaron
Yeah. We’re not saying we’re like dog yelling. We got this dog. Yeah, sorry, the off topic. But yeah. So what I thought we could jump into trying to talk about was what there’s lots more properties hitting the market that kind of lack of property being on the market. The fear of missing out seems to have moved aside for the moment, could correct itself back into that.

Aaron
But even trawling through kind of a bunch of the real estate to on this heaps of listings out there. So how can we set up our vendors to achieve success in selling their property? We kind of went through a few little dot punches, so discussing it. So if you talk to some of those so.

Patrick
What I was thinking, John, what we could look at just blindsided in here, I mean, sort of before, during and at contract stage. So before you go to market, which I guess is what you’ve just been describing with this new listing that you’ve got. Yep. What we do when we’re at the listing stage and prepared like talking to the vendor about getting it ready to put onto the market and then what a vendor should look for when we start to bring them contracts to know, you know, is this contract going to go anywhere?

Patrick
Yeah. Or is it just a waste of time?

Aaron
Contract? Don’t worry, it’s not blindsided. I emailed him the information he just printed out this week. It was. They thought you want to save the environment. Yeah.

Patrick
Yeah. He was. It brought up. That’s great.

John
Now that’s great because I mean, one of the things that’s been interesting in our business, because we’ve got quite a few agents that have done this, started within the last couple of years. They don’t used to what the kind of conversations we actually have to have. Yeah. So we can really phrases in the conversations we’re having with our clients.

John
Yeah. You know so I think though I suppose I’ll start as often. I mean the first one that people are asking is what is the market doing? And I think the way that you both phrased it is that the fear of missing out has gone. Yeah. So the way that and we’re returning to a balanced market. So how I would extend that conversation is to say, well look boys, so people aren’t buying for the sake of buying because they feel they have to because they feel they have to buy.

John
So people are now just buying because their life compels them to do so. Whether or not they, you know, they they’ve had a new baby or they’re downsizing, etc.. So we’re just seeing that natural ebb and flow of the market rather than that surge of, you know, surprising demand because people feel they should be buying.

Aaron
Yep.

John
So what that means then is, yes, there’s less buyer activity and that and that will translate to more choice as people will naturally come onto the market. Vice versa. So we also have to because now the latest quarter results have come out through the different REIT Institute B data and a whole different bunch of sources. There’s a couple of really key indicators we referenced in before.

John
The investor activity is reduced by 28% year on year.

Aaron
Yep.

John
Same with the actual transaction of property. So there’s not as many houses selling now that also absolutely has a bearing on what now the prices are doing. And so where before we’re able to list a property I did months ago and it’s so great, let’s just have a crack and we’re probably going to get ten offers and it’s going to blow your expectations out of the water.

John
That is no longer the case. So the conversation we have with our clients at the moment is to talk about commitment. So it’s like, look, this is not the market to sit there and test a price. If you’re sitting there, if it goes against the trend, the numbers and the comparable sales, and you still just want to have a crack and expect you’re going to get a phenomenal result.

John
The percentage chance of that happening is very, very, very small. So we have to ask, well, look, in the sake of saving you marketing dollars, in the sake of saving you time, and obviously we don’t want to sit there and spend a heck of a lot of investment and time on a property that isn’t going to sell. How committed are you to moving?

John
And it’s really about knowing that, okay, in this market, if you need to adjust your expectations and if you’ve had if you’ve double your property value and then now rather are getting 100%, you’re getting 90 or 80% still.

Aaron
It’s still a win, yet it’s just hard to taste when you’ve had all these success in the past or people staying on the success and thinking, Oh man, I can hit that. Yeah, markets change. That’s not what we’re saying now.

John
Yeah, exactly. And so at this phase one part, it’s really in the to me, what I’m looking for is where’s your level of commitment? If you don’t want it bad enough, we don’t need to do it, you know, it just might be nice. Chances are it’s probably not going to happen for you.

Aaron
So in this kind of pre-release stage, I guess one key thing to focus here is kind of getting the price right or discussing it with your agent kind of not coming in and then appraising the place that saying I can get 500 for this. And then a week and a half later, once you’re ready to hit the market, look, I’m going to go with 520 now, guys, I’ve changed my mind.

Aaron
I want to do this. It’s like you almost setting yourself up to fail.

Patrick
Very much so. Yeah, yeah. You’re almost setting yourself up to get a lot less, because by the time you agree to meet the market, the market already thinks that you’re unrealistic.

Aaron
Can you explain that a little bit more?

Patrick
Yeah. So Aaron has a really good graph that one of our other sales consultants that he uses.

Aaron
So good graphs to maybe come and have a look at my graphs, come to get my graph. And they.

Patrick
Did well where he always has.

Patrick
Like a three stage graph where it’s like if you price your property 10% above what market thinks it’s worth, it’s probably going to result in no enquiries, no showings, no offers. If you’re 5 to 7% above, it’s probably going to result in showings and enquiries, but no offers. So in this market you’ve got to get a price correctly so that you can get these showings, the offers and then one that is acceptable to the actual property.

Patrick
Yeah. So yeah, pricing it what doesn’t seem like much five or 10% could be the difference between you selling and not selling. So using your data that we have access to and really looking at, you know, who are comparable properties that you’re going to be fighting against on the Saturday urbanites, what are they priced at compared to yours?

Patrick
How do you make yours a better option in this marketplace? That’s what you need to start thinking about and looking at.

John
And that extends in with the presentation because the idea it’s going to be renovated is delight. They are attractive properties when people are expecting the median prices to adjust backwards and the time frame to renovate, the cost to renovate, etc. are all ever, you know, increase since they were, you know, a couple of years ago. Yeah, months ago.

John
So that’s the thing where the properties we would say a winning at the moment are the ones that are completely done for you or those that are priced most competitively. And it’s the middle ground where you’ve people, you know, that have properties that are really struggling at the moment because people are just little stuff that I don’t have.

John
I don’t want to buy half finished product. I’d rather get one of the good deal or.

Patrick
Ideas completely done.

John
I just want one completely done. So that’s where that price sensitivity comes in, you know, in line with the with your presentation. Yeah.

Aaron
So this is the one percenters, the, the small little things that can make a huge difference at the other side of the deal. So kind of get people well I guess moving from pre list we’ve kind of talked about setting up the property and making sure it’s right and then pricing it right, which I guess in our little document here, I’ve said choosing the right agent, but I guess that’s where moving into the sorry.

Patrick
But choosing the right agents. Correct, but it’s choosing the agent that’s going to have the hard conversation with you in the honest conversation. Maybe not the one that just agrees with you. Yeah, but you know, you sit down with the agent and you tell the agent I want $600,000. And inside they’re like, Yep, no problem at all. We’ll get to that.

Patrick
But all that data suggests 520 is where it’s at. They need to be telling you that upfront.

John
And this was one thing that we’re doing, trying that Susie’s going to have a chat about with the team as well is if you want to know what it what it means to be a real estate agent, this is the market where this is what your job means because this is where you’ve got to work really hard to be able to get deals to come together.

John
That means to subject to sales. That means, you know, we were having one conversation with the purchaser about, oh, well, how about we could actually have it? We get you a new vanity that’ll fit a little bit more. We’ll get these passports moved around and we can adjust this and adjust that for you so that now this property is going to fit your needs a bit more instantly.

John
They’re just like, Now it doesn’t work, this doesn’t work. We’re going to go away as a couple. But whoa, you know, we can actually make this work for you. Yeah. Don’t run away too quickly. And the thing is, one on one, negotiate one on one. Negotiations are very, very different. Then, you know, five people make a Dutch Dutch offer, as I would say, no one knows what everyone else has got.

John
And you look like a superstar. Yeah. That those you know, it’s a very different environment, different negotiating.

Patrick
Yeah. My favourite example of talking to purchasers and finding out their needs and wants is probably one of your old man stories you’ve talked about multiple times on the podcast, but for the new listeners, he had a home, he wasn’t able to sell it. The living space was too small, the dining space was too large, and all he suggested to the owner was to flip the two rooms around.

Patrick
Yeah, because all the feedback was the lounge room is too small. But it never dawned on anyone prior to that to consider changing the room configuration.

Aaron
Yes.

Patrick
And that was the difference between selling and not selling. So yeah, it’s finding solutions to people’s problems is how we get properties moved in this market.

John
Yeah.

Patrick
And you know, the other thing that I think we need to work closely with is work with an agent that, you know, is working with a lot of buyers like Aaron Murray at the moment in our office. He’s got an amazing buy database and he’s kicking goals like No Tomorrow because he works those buyers really hard. And we have a lot of buyers that say, I want to live in Glenorchy and then they end up buying an old beach.

John
That’s right.

Patrick
So it’s about understanding when their expectations is shifting and being ready to move with opportunities for them into those areas is how we can make things happen.

John
And have a house. And we have we’ve all done it where it’s just because one of our mates was just like, just try it, you know, just just give it a go.

Aaron
No, I don’t want to have that stuff.

John
Just, just, yeah, just, just maybe two more steps.

Patrick
Maybe I.

John
Load with the shop, just put it in the step.

Patrick
Patterns, like as if you go a party that’s like as if you wouldn’t be.

Aaron
Having a stay out baby.

John
And that, that’s another interesting point because you know, again, the one that we just had sold was one contract in Chigwell, which is obviously where L our old family home was. And how I introduced a buyer to that straight was they just sold a big family home up at Lindisfarne and they said, I would never live in Chigwell.

John
And it’s the bare downsides. She goes, It’s a bit different. And I said, Look, just do me a favour.

Patrick
And it is very nice.

John
Technically it ticks all the boxes. So I drove up and when I did there, you know, completely surprise because it’s not what I visualised in the mind. It would be at all. Yeah, we took it through the board it and with the other one that we’ve had across the road. Same challenge because the it’s just got the wrong suburb name in that price bracket but this is a good one about the owners have to really adjusting their expectations and you know.

John
Arenstein To experience what that feels like, to have these conversations that, look, we don’t want to have but we need to have.

Patrick
And that’s the only way we’re going to get two contracts.

John
That’s it. And the what the conversation I had with our client was, look, let us at least position the property for me to present and also that you can say no to because we’re at the.

Patrick
Oh, I like that line. John. Yeah.

John
I hope they needed 800 and they’d purchased, made a contract and another property we had, but it was so in order for them to reach for that they had to reach for theirs against you know, we said, well that’s probably not gonna happen. They wanted to try it. It didn’t pan out. So we, I had to say, well, look, after a long back and forth, I said, What are what do you think it’s going to sell for John?

John
I said, Look, we’re going to have to really look at it if if we can get a contract with a seven with another seven in front of it, we’ve got to take it. And that was that was Major Sydney. You basically going to have to adjust your purchasing power by $100,000 in one conversation and 14. Fortunately, they just sat on it for a long time and listened, adjusted the asking price to 690, a buyer that had it in court on their property at the very first day.

John
He was able to call them back and say good news. The few the properties adjusted instantly down at a contract and they’re under contract for over, you know, bit over 700,000. So fortunate they had they still have the number one thing which is commitment. They did a lot of the stuff to the property as best as I could.

John
And then they adjust. They were prepared to meet the market by, you know, you know, having a price correction that since we you know price improvement and were able to get them moving forward.

Aaron
Well again that kind of goes back to the graph we were talking about before like early on of kind of positioning the price correctly on the market like this for.

Patrick
Clarification, both Aaron’s two really good.

Patrick
Graphs.

Aaron
You should see my graph. Got it strong.

Patrick
Yeah you lot.

Aaron
Plotting and I am getting to X and just bring it around and then also like those pylons I love me some graphs.

Patrick
You.

Aaron
Look I wanted to get to the contract states. John actually gave me a good segway, but then I wanted to flip back into the other way. I thought talking about the contract stage is an interesting idea with, you know, changing the expectation of price in that stage. Yeah, we kind of were talking about like at the moment there might be offers coming in and they might not be $100,000 over what you were expecting before.

Aaron
So it’s choosing the right contract, I guess at the moment, like things like Elvia come into it, strong deposits. Can we kind of talk to.

Patrick
What makes a good contract, what makes a.

Aaron
Good contract from a vendors point of view in the current space? Because it’s not like I can pick and choose from a bunch of them, but.

Patrick
I could be depend on to begin with how long it’s been on market for. Like if it’s been on market for a couple of months, any contract is a good contract. Let’s work with the principle. We can do.

John
One that’s on paper.

Patrick
Yeah.

Patrick
But I think if you were receiving offers in the early stages of a campaign which you know, still can happen in this marketplace, especially with well-presented homes, and you’ve had a couple of properties recently where that has happened quite well. I think Parliament Street was a good example of that. I think if I was the vendor I’d be probably looking at if it was subject to finance, how much are they borrowing?

Patrick
Yeah, I know that interest rates are getting harder. I know that borrowing capacities are getting tougher. I’d want to know that they’ve got a bit of money behind them to be able to secure it. They’re looking to borrow 95% of the purchase price. Then I’m starting to worry is the value are going to agree with what we sold it for and now they’re going to get the money or am I going to waste three weeks.

Aaron
And could it change in that time? So we’ve talked previously about how in three weeks time your whole borrowing capacity jumped.

Patrick
Yeah, so we recently had that with one of Erin’s properties where the day of settlement the bank changed their opinion on a property that had been approved. Paul So we needed to repay that and fix that finance over the next couple of days. It still settled, still went through the same process. Yeah, but we are getting roadblocks down the track that we need to work through.

Aaron
Which again, it goes to getting the right agent and the ones that will go that extra mile.

Patrick
So, you know, 80% is where I’d like to see a contract under from a borrowing capacity, you know, 80% of the purchase price. I’d like to know that my client has got around 2020 5% to put towards it. Yeah, for sure. Anything less than that, I’m going to hope that it’s a cheaper home that you know, they’ve got security for.

Patrick
I’d want to explore so I can explain to my client why are they borrowing 90% houses going to come together? Yeah. Mum and Dad have offered to go guarantor. Or maybe they’re borrowing under the home share scheme with the government. Or I need to know what is that extra thing. Because if they think that they can borrow 90, 95% without.

Aaron
It, it’s almost like a Hail Mary early days and yeah, I’m going to buy this house.

Patrick
Right? You’re not going to have.

Patrick
Exactly. So I don’t want to waste three weeks my own. It’s time with a contract that potentially is not going to go anywhere. So that’d be one thing I’d be looking for.

John
Well, I know one thing too, where first time clients that we had to help them buy a property through another agent. And when I said to her, look, it’s a subject to sale which doesn’t isn’t as attractive as it used to be because things can get a little bit tougher. I said, Well, look, as if it sounds different because we’ve already have a contract.

Patrick
On our property.

John
On our property, and with that then it’s actually not it’s not subject to finance, it’s subject to the Foreign Investment Review Board. So for those who aren’t familiar with that, is it if you’re not a resident Australian, you need to seek approval from the Foreign Investment Review Board in order for them to allow you to purchase a property.

John
So that also means that with the contract on ours there was no finance required. There were going to be purchasing it with cash provided that they get approval from the Foreign Investment Review Board. So then to that agent, it was look, yes, it’s a subject to sale, but it’s not a subject to sell, subject to finance. It’s a it’s a different subject to it.

John
She’s like, okay, great to lucky enough working with other agents too. That’s a really useful situation in complicated negotiation. And because we can translate those conversations better then.

Patrick
Then you try to do it by yourself.

John
That’s right. It’s a for her it her client, she was doing the exact right thing, which is we obviously wanted to this deal to come together because admittedly, we’re probably going to be a little bit above the other interest because it was a subject to sale. But as you describe, she is asking the right questions to say, okay, so.

Patrick
She can sell it to her owner. Exactly. Because she’s going to go justify your contract to the owner. Yeah. So there’s no harm in, you know, if you get along really well with an agent and you met them in an open home, but they can’t hope the house that you want to buy and I’m sure a 90% agent’s in Hobart, if you went back to him and said Hi, I’m looking to buy a property of another competitor, can I have some advice?

Patrick
They would give it to you in a heartbeat. Yeah. That any questions asked? Because we’re all here to help people.

John
Yeah. And I really like this. I was chatting with a I went to a launch of a friend of ours. It just started New Company. Give him a shout out.

Aaron
Give him a.

John
Share. Yes. All markets and different mixed property. And I really like the way he said it. He goes, look, in the end, we’re not we’re competitors, we’re not enemies. And I think some would take that approach. We’re like, You’ll never speak with anyone. But I love the fact of trying to nurture these relationships with everyone because you’d never know which one of us we’re going to have to have a chat about, about, you know, getting a deal together for our clients.

John
Yeah. And having those good relationships just makes that process a heck of a lot easier, rather go, Oh, my God, it’s that person.

Aaron
That’s, like, going to get to call them. I was driving along with Bass the other day in the open. The View car was driving by as well. The Enemy. I was like, No, no, they’re just some other people talking.

Patrick
About us.

Aaron
Actually makes our job easier because we don’t have time to take those photo.

Patrick
Listings that you’re never getting back.

Patrick
Because it’s okay. It’s all good data for us.

John
It’s not true because there’s plenty of business for good operators. I think it’s those that are just, you know, sad with your patch. Like there’s no there’s not even competition that, you know, it’s just sweet. They going about their day. I’m going to bet mine. Yeah, yeah, yeah.

Aaron
It’s all good subject this out. A really interesting one I reckon there’s probably a whole conversation around motivations and and trying to sort that out. We’ve, we’ve nailed it. I can’t believe we put all this down on paper and we’ve, we’ve worked our way through the whole episode. Pat Well-played I think that’s the probably part for this week.

Aaron
Is there anything else you want to cover off just before finishing up?

Patrick
Oh, I’m pretty happy. I’m pretty happy with that. Yeah.

John
I think in the end it’s really about working with people who know what they’re doing, quite simply because this is a you know, this is markets that we cut our teeth on over ten years ago. And the you can definitely working with people have experience matters in these markets.

Patrick
And if you are working with someone that’s newer to the industry, you want to find out who’s supporting them. Yeah. On a weekly.

Aaron
Basis. Okay. I like that.

Patrick
Yeah. Yeah. Don’t don’t automatically disregard someone that’s brand new in the industry because they have a lot of hunger and a lot of drive, especially in these marketplaces. But make sure that they do have the agency support behind them to help them through those tougher conversations.

John
Yeah, exactly. That’s and that’s how we that’s how, you know, there’s a classic example to clients. We just the story we just talked about.

Aaron
Well, yeah, I heard you listen to your conversation before the podcast. Listen to yours. You’re talking to our Murray about kind of, you know, getting finance.

Patrick
Pre-Approval.

Aaron
Pre-Approval and a brand new business kind of getting up and running. And he’s hungry to really kind of make a mark, which is the same hour. Murray Theory. I’ve just been like, I drive past here at seven at night and his car or motorbike still sitting there.

Patrick
So yeah, it’s important to work with someone that’s got experience to get the jobs done in this hard market. But you can also work with someone that’s young, energetic and excited to be in the industry because they’re going to go that extra mile for you. Yeah, but ask the extra questions with the appraisal. Make sure you understand what it is that they’re going to bring to the table and how they’re going to fix an awkward situation if that arises.

John
If that if that if this happens, then what?

Aaron
Or if they make sure they’ve got someone behind them that they can turn to. And the amount of times that emails comes out and poll got one for you.

Patrick
Just sit next to us.

Patrick
See the response. He comes out, just give him a desk out there and.

Aaron
Yeah, we got to move, make some space for it.

John
Do you realise it’s two sets up for me so I guess it gets 80%.

Aaron
But I like his tenacity. Yeah, the kid’s got spark. Yeah.

Patrick
So bottom line is, just do your research in this market place, make sure you’re comfortable with your decision. Really ask questions when you’re doing the appraisal with the potential agent that you’re going to work with and know what you’re after. All right. And make sure that you are aware of that as well, because they may come straight to you and say, I can’t I can’t meet those expectations and that’s fine.

Patrick
But just know what you did, what you’re trying to achieve, and make sure you’re working with someone that has the same vision.

Aaron
Yeah, love it. Love it. Awesome cracking episode. I had fun with that one.

Patrick
Thanks very much, guys.

Aaron
All right. We’ll see you all next week with more property pod. Bye!