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Inside Real Estate. Buy, Sell and Profit in any Property Market

  • ID: 4342156
  • Book
  • June 2018
  • Region: Global
  • 288 Pages
  • John Wiley and Sons Ltd
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The real world of modern real estate exposed

Inside Real Estate is a down–to–earth consumer guide for anyone navigating the property market in the digital age. Written by industry veteran Peter O′Malley, this book exposes the truth about modern real estate and shows you how to work the market to optimize your financial benefit. Forget what you′ve seen or heard the media′s hype surrounding real estate doesn′t accurately reflect the reality on the ground. With the rise of digital platforms, foreign buyers and property booms and busts, the agent′s role is changing amidst a rapidly evolving field; media spin benefits agents more than consumers, but this book offers step–by–step guidance on silencing the noise and working with reality.

Exposing common practices and blowing myths wide open, this book shows you what the property market is today and how to take advantage of it to buy, sell or invest in your best financial interest.

  • Cut through the hype and learn the truth behind the myths
  • Understand the agent′s new and changing role in a disrupted industry
  • Learn the tips, traps and tactics that could sink or save your investment
  • Deal with rising and falling markets as a buyer or seller

The industry′s digital disruption is not going away, and certain aspects of the market have been permanently changed as a result. The good news is that property is still a smart financial move, and it is possible to come out ahead regardless of the market′s behaviour but first you need to separate spin from reality. Inside Real Estate takes you behind the curtain to help you navigate the market with clear eyes and a solid understanding of the real–world market.

Note: Product cover images may vary from those shown
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About the author xi

Acknowledgements xiii

Introduction xv

Part I: Mastering property 1

The real estate game 3

1 Who can you trust? 5

2 The modern real estate firm 7

3 Will real estate agents have their Uber moment? 10

4 Insider trading 14

5 Asking the tough questions 18

6 Emotion versus logic understanding fear and loss 19

7 The winners and losers in all markets 23

8 Averages, statistics and transaction costs 27

9 Buying and selling structuring the move 31

10 Trading beyond the evidence 35

11 Valuing real estate agents 37

Part II: Selling 43

Prepare to sell 45

12 Avoiding seller s remorse 47

13 How to run a silent auction 49

14 Believe me when I say 56

15 Do you have a buyer? 57

16 The leopard s new spots 59

17 Mystery shop the agent 63

18 Expensive web advertising drives off–market transactions 66

19 Are you choosing a valuer or a negotiator? 69

20 Seven questions to ask when selling 71

21 Are valuers conservative? 74

22 Overquoting 75

23 Horses for courses 79

24 Tenants out, furniture in 83

Manage the sale 85

25 Coming, ready or not! 87

26 The win/lose transaction overprice and undersell 89

27 Underquoting 91

28 Divorce, death and distress 93

29 Automated valuations 96

30 Confidentiality 98

31 Bait price damage 101

32 Loss of control 102

33 Tricks to increase vendor motivation 106

34 Selling off–market is it advisable? 108

35 Protecting yourself from conditioning 113

36 Reading the play to manage the sale 116

Close the sale 121

37 Overachieved and undersold 123

38 The offer 126

39 A good real estate lawyer 129

40 The pest and building inspection 132

41 The non–binding offer 134

Part III: Buying 139

Preparing to buy 141

42 Five questions to ask before buying 143

43 Auction bunny 147

44 Trial move 149

45 Finding value 151

46 Buying and selling off the plan 156

47 Photoshopping what s fair play? 161

The search 163

48 Boomers move to apartments 165

49 Inspecting the strata books 167

50 Strata fees weigh on boomers 173

51 Profitable renovations 175

52 Investing in the investment 179

53 Study no more? 182

54 Maintaining composure 183

55 Guidelines and laws to protect home buyers 187

56 How to bid, buy and win at auction 190

57 Why invest in property? 198

58 Debt and equity 201

59 Vacancy 204

60 Five questions for investors 208

The transaction 213

61 Beating remorse 215

62 What should we offer? 217

63 Why the price guide is no guide at all 220

64 Bracket creep 222

65 Trading space for location 224

66 Low stock drives prices 226

67 Buyer s agents 227

Afterword 231

Index 235

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Peter O′Malley
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