The main mistakes you see buyers making, with Matt Scafidi – Ep. 92
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In this latest episode of the Geared for Growth podcast, Mike is joined by Founder of Abode Advocacy Group, Matt Scafidi to discuss the main mistakes that buyers tend to make when searching for property.
Having spent fifteen years as a real estate agent, Matt now focusses on the buyer’s side of the property transaction, helping his clients source the best properties for their needs, at the best prices, safe in the knowledge that Matt is firmly in their corner.
In this conversation, Mike and Matt delve into the problems that Matt has helped his clients overcome and break down the mistakes he often sees on the purchasing side. Errors such as placing too much trust in the vendor’s sales agent, when that agent is first and foremost working for the seller, and not understanding the entire transaction process from the outset. Matt explains the type of questions that purchasers need to be asking to get them ahead of the game.
Matt also sets out the sales process and sheds light on mechanisms such as having a last right of reply. He explains why it’s important to get things in writing and why that can potentially save thousands of dollars. Using the analogy of appointing your own lawyer in a lawsuit, Matt points out why having your own buyer’s agent can be so beneficial when navigating the purchasing journey.
Matt and Mike wrap up by talking about property value and why it’s important not to put all your eggs in one basket when looking at property. Providing real life examples, Matt highlights how purchasers might fixate on properties that end up outside their set budget and the opportunities that might cost them along the way.
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In this latest episode of the Geared for Growth podcast, Mike is joined by Founder of Abode Advocacy Group, Matt Scafidi to discuss the main mistakes that buyers tend to make when searching for property. Mike and Matt delve into the problems that Matt has helped his clients overcome and break down the mistakes he often sees on the purchasing side.
What we cover in this episode
The main mistakes that buyers make
The questions that buyers don’t ask but should
Clarifying the rules of engagement
Saving thousands of dollars on your property purchase
The increasing importance of home staging
How purchasers get value wrong
The danger of putting all your eggs in one basket
“These buyers, when they go it alone, they’re dealing with an experienced negotiator firstly that is ultimately representing the vendor” Matt 1:15
“Buyers don’t actually clarify with the agent what process they’re going to use in closing off offers on the property” Matt 2:45
“Agents don’t wanna lie and there’s a lot of stuff out there that agents lie and all this sort of thing, they don’t want to tell lies ’cause they don’t want to be tripped up and they don’t want to get themselves in strife” Matt 7:36
“We’re always looking to put our client in the best possible position not only to buy the home but to buy at the best possible price as well and at the end of the day as I said earlier that’s why I believe buyers should be represented” Matt 9:00
“The thing I would say to a buyer is that you are potentially missing out on the quarter of the market that never actually lands on real estate.com or Domain and that’s the problem I see and that is solved with a buyers agent because we’re giving you access to the entire market” Matt 13:00
“I really think that the buyers get value wrong of property and they get value wrong all the time and this is where we come into play as well as in our field of what we do” Matt 18:32
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The Geared for Growth property investing podcast was created by Mike out of a desire to provide value to his property investor clients. The idea is to source Australia's leading property investment experts and find how they and their clients are achieving exceptional results. The podcast is open to anybody interested in learning how to invest and the strategies you can apply to achieve exceptional results. You'll hear from buyers agents, mortgage brokers, strata managers, accountants and other professionals all sharing their insider knowledge.