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A fun and accessible look into Hobart and Tasmanian Property with 4one4 Property Co. Real Estate Agents, Patrick Berry and John McGregor
00;00;00;03 - 00;00;06;15
John McGregor
The good thing about a fixed price, as always, it's the most transparent way in a private treaty, which is that's the price. If you pay it, you get it.
00;00;06;18 - 00;00;13;08
Aaron Horne
You don't to to one, though, you're losing to the property.
00;00;13;10 - 00;00;25;07
Aaron Horne
All right, guys, welcome back to the property of your weekly engagement into real estate here in the Hobart marketplace. I'm your host, Aaron Horn. Rose off the tongue like a dream. Welcome back, team. Patrick Barry. John McGregor Get off your phone. Mr. Where.
00;00;25;07 - 00;00;25;22
Patrick Berry
Podcast?
00;00;25;22 - 00;00;26;10
John McGregor
I'm taking notes.
00;00;26;10 - 00;00;28;12
Aaron Horne
Maybe you're taking notes.
00;00;28;15 - 00;00;30;12
Patrick Berry
Yes. He's prepared.
00;00;30;15 - 00;00;31;17
Aaron Horne
Oh, he's getting prepared, right.
00;00;31;17 - 00;00;35;21
Patrick Berry
As we say. Exactly. That's a level of excellence.
00;00;35;23 - 00;00;37;10
John McGregor
Well, that's how much preparation time I have.
00;00;37;15 - 00;00;43;17
Patrick Berry
Welcome. I know it's great. Black curtains, black, but I've got my pad out.
00;00;43;19 - 00;00;46;08
Aaron Horne
I ask you what your notes are now or are we going to save them for a bit later in there?
00;00;46;09 - 00;00;49;24
John McGregor
No, that was just the. Yeah, the points for Vice.
00;00;49;26 - 00;00;51;15
Aaron Horne
I gotcha. I don't want to.
00;00;51;17 - 00;00;52;08
John McGregor
Three. We're done.
00;00;52;15 - 00;00;59;13
Aaron Horne
Oh, very good. Well, look, it's. It's spring. The sun has been shining for about three days straight now. It's been absolutely cracking weather and I thought.
00;00;59;13 - 00;01;02;08
Patrick Berry
Oh it's baby. Yes. Even shorts all throughout. Yeah.
00;01;02;08 - 00;01;04;24
John McGregor
But it's not as cold.
00;01;04;26 - 00;01;17;15
Aaron Horne
I don't get too comfortable. I actually love when you've got a business meeting coming up and you'll be wearing the pants, you'll have the pants on still in your hat and your and your t shirt. But about, you know, something important on today.
00;01;17;17 - 00;01;17;29
Patrick Berry
Yeah.
00;01;17;29 - 00;01;19;13
Aaron Horne
I thought I better get dressed up.
00;01;19;19 - 00;01;20;07
John McGregor
Put some pants on.
00;01;20;07 - 00;01;21;18
Patrick Berry
Today.
00;01;21;21 - 00;01;37;14
Aaron Horne
It's interesting. I actually thought, Well, just before we jump into some of the other stuff, man, you have been doing something pretty interesting this last week, going out to school and helping out the Smith family and kind of explaining our jobs to future seekers to to kids in the community.
00;01;37;14 - 00;01;42;16
John McGregor
Yeah, like ten and nine year olds. Yeah. Which has been interesting to explain real estate to a nine year old.
00;01;42;16 - 00;01;43;02
Patrick Berry
Well, like.
00;01;43;02 - 00;01;58;10
Aaron Horne
The other thing is as we were going in, because part of what they've been doing is they've been kind of saying stand up the front and give him five words about your job and let them know what you do. And and they'll guess kind of what they think you do based on what you've said or a little prop you've brought along.
00;01;58;12 - 00;02;05;14
Aaron Horne
And Pat, the very first one, he's there and he said, I work with passes the communication and advance on that.
00;02;05;16 - 00;02;07;01
John McGregor
I tell you I just had a hoodie day.
00;02;07;03 - 00;02;23;23
Aaron Horne
I yeah. But the the questions were construction worker build architect everything other than real estate agent. And then when we left, I was like, I wonder if it is that that idea of what a real estate agent is, is sleep back here. So it's kind of.
00;02;24;00 - 00;02;24;05
John McGregor
And.
00;02;24;11 - 00;02;24;21
Aaron Horne
Part of.
00;02;24;21 - 00;02;25;27
Patrick Berry
John Yeah.
00;02;25;29 - 00;02;30;15
John McGregor
And then yesterday I'm in shorts and a T-shirt. John And I'm getting tattoo artist because I've got to say.
00;02;30;15 - 00;02;31;29
Patrick Berry
Something and I was carrying an.
00;02;31;29 - 00;02;33;14
John McGregor
iPad with a pencil. So they're like.
00;02;33;14 - 00;02;37;10
Patrick Berry
Oh, you must be a tattoo artist. I wish I was like going on.
00;02;37;12 - 00;02;46;23
Aaron Horne
Down the path of like, what if because they send you out to little groups and say, you know, talk to the kids in, in groups and explain your job? What if just one or two we did a choose your own adventure.
00;02;46;25 - 00;02;47;10
Patrick Berry
Oh, yeah.
00;02;47;11 - 00;02;50;11
Aaron Horne
It was like, yeah, today I am a tattoo artist.
00;02;50;13 - 00;02;52;16
Patrick Berry
Tell us what you do. Drawing a stick, man. It would have.
00;02;52;16 - 00;02;53;18
John McGregor
Been worth just riffing on it.
00;02;53;19 - 00;02;56;18
John McGregor
And I might not get invited back, though.
00;02;56;18 - 00;03;14;07
Aaron Horne
John All that much like at lunch time. I was told a tattoo artist, He told me he was going to actually. Sorry, I'm just dumping of this other kid. You know how I took my broken drone? Yeah, I took a broken drone just as well. That's probably safer than taking in the real one and it not coming back or any of those kind of things.
00;03;14;10 - 00;03;26;29
Aaron Horne
And this one kid was looking at it and he was basically analyzing the parts of a broken. And as I was talking to him, he was saying, like, I made my dad pull heaps of things apart and put them back together. It's like, Oh yeah, you just need a part for this. And I was like, I can actually trust you.
00;03;27;01 - 00;03;35;21
Aaron Horne
This nine year old kid, the way he was like looking at the bits and he's like, Yes, these bits broken and these bits broken. If you fix that, it will be fine. I was like, okay, so it's.
00;03;35;27 - 00;03;38;10
John McGregor
Zero and is just genuine interest.
00;03;38;10 - 00;03;39;05
Patrick Berry
Yeah, well, this work.
00;03;39;06 - 00;03;42;22
John McGregor
Yeah. I didn't know which kid you're talking about. It was a table of two.
00;03;42;27 - 00;03;44;08
Patrick Berry
Yeah, yeah, yeah.
00;03;44;10 - 00;04;00;05
Aaron Horne
It was really interesting to look. The good thing was it, it was basically. Yeah. Providing all these kids with an idea of what you can do out of school once you're finished. It's kind of if you can't say it, you can't be it kind of idea. So that like there was got from the Army, from the Navy, it was.
00;04;00;05 - 00;04;02;13
John McGregor
A neuroscience person there.
00;04;02;15 - 00;04;07;14
Aaron Horne
The first one we went to, it was three scientists, a man passed away like we are so.
00;04;07;14 - 00;04;08;25
Patrick Berry
Under-qualified for the day.
00;04;08;27 - 00;04;13;18
John McGregor
So he got like a computer science, a chemist and a neuroscientist. And then Aaron and Pat.
00;04;13;18 - 00;04;14;13
Patrick Berry
Yeah.
00;04;14;15 - 00;04;16;00
John McGregor
Passed education comparative.
00;04;16;00 - 00;04;22;28
Aaron Horne
Yeah, but that look well, we'll take this review at the end. At the end they said I had to find it and they both point back to it. We want to.
00;04;22;28 - 00;04;25;16
Patrick Berry
Be like those two kids.
00;04;25;16 - 00;04;25;29
John McGregor
In the room.
00;04;25;29 - 00;04;28;15
Aaron Horne
Yeah, that was like, yeah, we basically just play video.
00;04;28;15 - 00;04;29;16
Patrick Berry
Games and.
00;04;29;18 - 00;04;30;00
Aaron Horne
Chill out.
00;04;30;00 - 00;04;33;28
John McGregor
Unfortunately though, yesterday we were trumped by two army people that had tanks and guns.
00;04;34;01 - 00;04;34;18
Patrick Berry
It was tough.
00;04;34;18 - 00;04;35;11
John McGregor
To beat those guys.
00;04;35;15 - 00;04;38;20
Aaron Horne
We've found where we sit in that sort of thing. Well.
00;04;38;22 - 00;04;40;03
John McGregor
One step up from scientists.
00;04;40;03 - 00;04;40;17
Patrick Berry
Yeah.
00;04;40;19 - 00;04;45;21
John McGregor
Next time he could bring I was going to say a giant dollhouse I don't have that's going to have the same effect as tanks.
00;04;45;21 - 00;04;48;01
Aaron Horne
But what were the how to dollhouse?
00;04;48;03 - 00;04;50;21
John McGregor
Because we sell houses. He's getting at the point that it's a house.
00;04;50;21 - 00;04;51;22
Aaron Horne
It's got to go.
00;04;51;22 - 00;04;55;16
John McGregor
You could start doing design or this is what we actually do to a daily basis, which is bullshit.
00;04;55;18 - 00;05;02;07
Patrick Berry
But fair enough. What is this a school for? Yeah. You need props, baby. That's what it is, John.
00;05;02;07 - 00;05;09;16
John McGregor
Scotty's doll. Now looking pictures. Well, Mr. Seller, if we just use this carpet choice here in the house. Right. That we can recreate in your.
00;05;09;16 - 00;05;13;15
John McGregor
Place and here's the extra children and blah, blah, blah, that's. He's a divorce process, so they're not.
00;05;13;15 - 00;05;21;20
Patrick Berry
Going to use this room anymore. We just go with that. Has you can take the couch. Let's say they.
00;05;21;22 - 00;05;24;10
Aaron Horne
Oh, moly.
00;05;24;13 - 00;05;28;19
Patrick Berry
This has gone way off life out of the baby.
00;05;28;19 - 00;05;31;09
John McGregor
Don't bring that in for the Smith family. But you know.
00;05;31;11 - 00;05;41;03
Aaron Horne
Yeah, look, that's really cool. Andrea and the team that have been putting it together and we've been liaising with have been wonderful. That's going.
00;05;41;06 - 00;05;41;18
Patrick Berry
All I can.
00;05;41;18 - 00;05;42;26
John McGregor
Think of is like, how you selling your.
00;05;43;03 - 00;05;49;23
Patrick Berry
Stuff? Well, Mr. Investor, let's talk about duplexes. Yeah, yeah, yeah.
00;05;49;26 - 00;06;07;18
Aaron Horne
Not too bad. We actually have a guest coming up soon that's got some ideas on duplexes. I'm Yeah, hold that thought out. No look shout out to those guys it's been pretty interesting going out into schools has actually has reaffirmed my belief of because one of the questions the kids have been asking is what was your dream job when you were a kid?
00;06;07;21 - 00;06;16;23
Aaron Horne
And I thought, I actually used to be a teacher. I, I left school and I'm trying to be a teacher and I was a teacher for a few years. And then, like, teaching stacks.
00;06;16;25 - 00;06;19;05
Patrick Berry
Like. Yeah, pretty much. Yeah. That's actually I'm.
00;06;19;05 - 00;06;40;07
Aaron Horne
Pretty happy, actually. You was always both kind of have gone into the family business when you were kids. I know lots of people that have family businesses kind of say, I'm going to do the the furthest thing away from what my parents do and then find themself ending up doing it. When you were kids, what was the dream job that wasn't real estate?
00;06;40;08 - 00;06;44;01
John McGregor
The first one that comes to mind was a chef on a Navy ship.
00;06;44;02 - 00;06;46;07
John McGregor
Oh, I thought you were going to say like a private yacht.
00;06;46;09 - 00;06;46;26
Patrick Berry
Yeah.
00;06;46;28 - 00;06;50;09
Aaron Horne
I was thinking like the Love Boat or the cruise cruise around the world as a ship.
00;06;50;09 - 00;06;53;11
John McGregor
Now that's a shut out. And then with those heads coming through that.
00;06;53;13 - 00;06;53;26
Patrick Berry
Chest.
00;06;54;01 - 00;07;07;02
John McGregor
That's when it became a teenager and interested in girls. You know, the shift changed me as far as the earliest. I'm sure there's other references when I was even younger, but I just remember that one being a first conscious choice of a decision. Yeah, I'm glad I didn't do it, but.
00;07;07;09 - 00;07;09;25
Patrick Berry
It's I'm.
00;07;09;27 - 00;07;11;03
John McGregor
In the Navy specifically.
00;07;11;03 - 00;07;15;17
Aaron Horne
Yeah. If someone said you've got 50 guesses to guess what John might have wanted to be as a kid. Never would have.
00;07;15;17 - 00;07;18;05
Patrick Berry
Got that right. Yeah, that was the first time I was.
00;07;18;07 - 00;07;22;16
John McGregor
I was a computer game nerd, so I was all about websites, games and places.
00;07;22;19 - 00;07;32;27
Aaron Horne
So you're not. You're not too far off, like in your little to play with all those toys. So, yeah. And John cooks at home so yeah, he puts, he puts on a shirt and shoes and.
00;07;32;27 - 00;07;36;07
Patrick Berry
Just giant bowls of slop, you know, huge tins.
00;07;36;10 - 00;07;41;19
John McGregor
Well if you want to join the Navy, I met the lady. Yes. That's one of the head recruiters. Right.
00;07;41;26 - 00;07;43;07
Patrick Berry
You know, if I need to pivot.
00;07;43;07 - 00;07;44;10
John McGregor
I can open a connection for.
00;07;44;10 - 00;07;46;15
Patrick Berry
You that works.
00;07;46;17 - 00;08;07;13
Aaron Horne
So. Yeah, No, that's something we've been doing. Kind of. We should probably get to real estate stuff. But just before we jump further down into that rabbit hole, the past two weeks here at four and four have been really exciting as well. There's been just an absolute energy in the office, and that is thanks to some visitors coming out to to spend two weeks with us here onshore.
00;08;07;16 - 00;08;12;00
Aaron Horne
Just kind of to let the listeners know what's happened here at four and four in that period. Yeah.
00;08;12;00 - 00;08;21;15
John McGregor
So for people that don't know, we actually have four employees in the Philippines that do a lot of our admin type work. And yeah, we had the pleasure of bringing them out to meet the team here in Australia for the last two weeks.
00;08;21;15 - 00;08;24;13
Aaron Horne
Yeah. So in the past you've been over that two times. Three times.
00;08;24;13 - 00;08;26;29
John McGregor
I've been twice, Abby's been three times to work with them over.
00;08;26;29 - 00;08;38;01
Aaron Horne
There. So yeah, doing a bunch of training and kind of setting up procedure and operating procedure, that's it. Setting up, setting up things and kind of and building a bond with them.
00;08;38;03 - 00;08;42;01
John McGregor
And figuring out how to make, you know, workflow work when they're on the other side.
00;08;42;01 - 00;08;45;26
Aaron Horne
Of the world. Yeah, yeah, you can. A Zoom meeting is really handy, but it's, it's ways it's.
00;08;45;26 - 00;08;48;25
John McGregor
Way quicker to teach if you side by side with somebody that says I'm.
00;08;48;29 - 00;08;55;12
Aaron Horne
So you've been over there 2 to 3 times and then that this is an opportunity to bring them out to to Australia and.
00;08;55;13 - 00;09;12;23
John McGregor
Yeah so Abby and I have a really strong connection with these four and every time we wave them, we just love being around them and we wanted everyone here in the office to experience that. Yes, although everyone gets to talk to them, it's different having a relationship with somebody on a Zoom versus meeting them in person. And so we felt that it was really important that everyone got to spend time with them.
00;09;12;23 - 00;09;18;11
John McGregor
So yeah, yeah, they came visit it and it's been really good fun. I've been a tour guide of Hobart for the last two weeks.
00;09;18;11 - 00;09;30;26
Aaron Horne
Yeah, it's so funny when you have have people coming into our state or coming to visit and you put your tour guide hat on and you kind of realize you're like, I know a fair bit about all this stuff, but man, I could know so much more. Absolutely.
00;09;30;26 - 00;09;31;19
John McGregor
Yeah.
00;09;31;22 - 00;09;38;22
Aaron Horne
It's me. So yeah, get going around and, you know, talking to me. I was so. Yeah. Class at the mountain Salamanca market.
00;09;38;22 - 00;09;42;27
John McGregor
Yeah, in the mountain. Like they loved it up there and they're like, how often you come? I was like, never.
00;09;42;29 - 00;09;48;07
Aaron Horne
Yeah, I've been up here. Probably four times in my entire life. I got it here. Like, why wouldn't you be doing this all the time?
00;09;48;11 - 00;09;51;15
John McGregor
Oh, takes like 30 minutes to drive to. It's so. It's too much effort.
00;09;51;15 - 00;10;06;14
Aaron Horne
Yeah. Yeah. And it's funny yet kind of asking at the end kind of. What were your highlights of the trip? And I know Wren said one of them was like actually driving on the road and not just being bumper to bumper for hours and just being able to get places in an instant sort of thing.
00;10;06;20 - 00;10;17;08
John McGregor
Yeah, well, I was talking to Queen about that, and on one of the trips we had together and she was saying that most Philippine people will allow an hour and a half to 2 hours before the appointment to get where they're going.
00;10;17;10 - 00;10;18;11
John McGregor
Just traffic. Yeah.
00;10;18;13 - 00;10;19;00
Aaron Horne
Yeah.
00;10;19;03 - 00;10;22;22
John McGregor
I said it's going to allow so much time. You just don't know what type of traffic you're going to hit.
00;10;22;25 - 00;10;35;27
Aaron Horne
Yeah. So we're so blessed in obviously that there's, there's traffic. So we're coming back down the mountain. I think I said yes. Oh geez. I hope we don't get stuck in that 5:00 traffic coming back down the mountain. And I would have just thought like, this is not traffic.
00;10;35;27 - 00;10;36;17
Patrick Berry
What the hell?
00;10;36;17 - 00;10;40;21
Aaron Horne
I'm struggling with some cars that are banged up for like two extra minutes.
00;10;40;23 - 00;10;48;11
John McGregor
I had the Dominic traffic one day with down with my car and I went over to the side street to avoid a news light. But it was moving. It was like, yeah, it does annoy me. He's going.
00;10;48;11 - 00;10;49;26
Patrick Berry
To slide.
00;10;49;28 - 00;10;52;10
John McGregor
Saved 30 seconds by moving over to this road.
00;10;52;12 - 00;10;53;15
John McGregor
You are moving.
00;10;53;17 - 00;11;12;28
Aaron Horne
And yeah, I'm a happy chappy to that. But yeah, so they've been in it's been really, really, really cool having them boots on the ground and yeah, the goodbyes are really hard. It was really sad to say like, oh, you know, well, so you're back to the zone because you had built these bonds and but yeah, think it's been really beneficial for.
00;11;12;28 - 00;11;14;23
John McGregor
It was definitely fun. I enjoyed it. Yeah.
00;11;15;00 - 00;11;25;23
Aaron Horne
So yeah that's been it's been a hoot. So shout out to Daryl Renz, Queen and Ninyo, our BPO staff in the Philippines. They're yeah, absolute superstars and look forward to seeing you again.
00;11;25;29 - 00;11;27;06
John McGregor
So they'll be back at some stage.
00;11;27;13 - 00;11;41;03
Aaron Horne
That's the plan. Yeah. They gave me a list of the things that they didn't get to see that they thought they might. And dying to see wallabies or kangaroos, Right, Right. We didn't get it till the very last. I like planned it three times. The weather kept turning on us was.
00;11;41;05 - 00;11;41;29
Patrick Berry
Like.
00;11;42;01 - 00;11;51;27
Aaron Horne
Worst case, we'll just go up like the top, the north, get to the park, you'll say one and I think I saw one the night before it. Mary Giants close. They did, yeah. But yes, it was.
00;11;52;00 - 00;11;53;06
John McGregor
That It was fun feeding them.
00;11;53;12 - 00;12;07;02
Aaron Horne
Still still heaps of heaps of stuff to do and say here in Tassie. So yeah, hopefully we'll have them back for some more ventures. Definitely. But speaking of bad weather and moving from bad weather into something brand new, what a signal that this guy said.
00;12;07;04 - 00;12;08;11
Patrick Berry
Who is this guy?
00;12;08;13 - 00;12;21;12
Aaron Horne
He's just a star of podcast and screen, moving from the bad weather into the beautiful weather of spring. It is always a fun time. I know John always says it is probably the most active time in real estate.
00;12;21;13 - 00;12;25;11
John McGregor
It's not me, mate, it's the numbers site. So I was going to say using science, not at all.
00;12;25;11 - 00;12;27;11
Patrick Berry
Statistically, the.
00;12;27;13 - 00;12;28;01
John McGregor
Science is.
00;12;28;01 - 00;12;29;20
Patrick Berry
Amazing.
00;12;29;23 - 00;12;31;27
John McGregor
But yeah, that's when the most transactions happen.
00;12;31;27 - 00;12;52;25
Aaron Horne
Yeah. So we've, we've just sprung into it. It feels like spring is in action. My lawn is growing so fast. I got to go out every weekend where kind of in that life affirming, bringing action back to the market. Is it going to change this season? Are we looking up stagnant, dropping? What's happening out there?
00;12;52;28 - 00;13;02;08
John McGregor
For me, I just more so get excited by the transactions rather than the price in many ways if.
00;13;02;10 - 00;13;05;25
John McGregor
I like the transactions too, because that means we're getting paid just.
00;13;05;27 - 00;13;06;06
Patrick Berry
You know.
00;13;06;07 - 00;13;14;25
Aaron Horne
So maybe I didn't phrase my question is the market is it is it looking good for sellers, looking good for buyers, not whether the prices are fluctuating or so.
00;13;14;25 - 00;13;16;23
John McGregor
Yeah. How we find it over the last couple of weeks.
00;13;16;23 - 00;13;22;12
Aaron Horne
Yeah. Are we starting to see more people that open homes? Are we starting to see that the listings that are sitting there?
00;13;22;12 - 00;13;42;05
John McGregor
Well, I've definitely seen more inquiries coming through real estate dotcom over the last week or two. There's definitely been an uptake in more people sending through inquiries, booking inspections. Yeah, normally that then flows through to buyers committing to purchase. Yeah. So I definitely see that there is some movement there. I think it's helped that interest rates have stayed the same for the last two months to three months.
00;13;42;05 - 00;13;43;00
John McGregor
To something like that.
00;13;43;00 - 00;13;57;18
John McGregor
Yeah, and I think now people are starting to feel a bit more confident in their decision. Yeah, sure. So I think, you know, I think if you've got a window that is motivated to sell, they'll definitely So in this marketplace, it's just now a matter of finding what is that happy medium for? Price.
00;13;57;22 - 00;13;58;03
Aaron Horne
Yes.
00;13;58;03 - 00;14;15;15
John McGregor
So that's we're not experiencing the same market we did two years ago where things were going up rapidly. And unfortunately, there's still a few vendors out there that are expecting that type of return. Yeah, but the ones that have realized where the market sits and that they are still making an amazing profit in the time they've owned it have been very successful in selling.
00;14;15;18 - 00;14;40;22
Aaron Horne
So getting that, getting that price right is I guess a really key one. Our phrase it basically like yeah, offers over kind of method before which we spoke about was kind of encouraging people to keep throwing numbers higher and higher and creating that competition. Competition that way. Now it feels like if you kind of throw that out there and people are expecting, I'm going to have to offer 50,000 over that.
00;14;40;24 - 00;14;41;16
John McGregor
You're not inquiring.
00;14;41;19 - 00;14;55;09
Aaron Horne
Not inquiring about it. So is it finding that real sweet spot where saying like, this is my non-negotiable number and then I know the price ranges that are kind of being used, but I've seen a few other ones where it's just literally like, Bam, here's the Price.
00;14;55;09 - 00;14;56;26
John McGregor
Jones benefactor fan of Bam.
00;14;56;26 - 00;15;13;05
John McGregor
He's the price at play at the moment. Yeah, yeah. There's in the last five listings that are brought on. I think three of them or three of them are fixed price. Then there's an offers around and then there is one last one which is an offers over, which is a call back to these guys intending to list three or four months ago.
00;15;13;05 - 00;15;35;28
John McGregor
Yeah. My whole reasoning behind that is in these markets where it's still effectively a buyer's market, there's where they are taking their time. You know, the reason as much interest and that same price is declining the the reason I suppose we'd move to a fixed price was always seeing that negotiating above and offers over was a lot harder.
00;15;35;28 - 00;15;54;06
John McGregor
Yeah so before we're so used to buyers is going oh gosh, the prices are going up a better offer over at the moment they're saying the opposite. So like, well one, I don't want to do that. And so now when I'd rather see that you know negotiating under so at least the because when they would say well what with the unacceptable oh look you'd have to go off as are the uses 650 example.
00;15;54;09 - 00;16;11;04
John McGregor
Yeah. But we'll just present some interest and see where it goes and then an owner would be catering offer can offering higher than that offer. Yeah. It starts to get confusing but at least with the fixed price as to say well they will accept this 50. Yeah. And I'm sure if you wanted to offer above the asking price I'm sure that accept that too.
00;16;11;06 - 00;16;30;05
John McGregor
And I think the anecdotally it's been refreshing since from the buyers of the properties to go, well okay, if I want it, I'll pay that price and we can still encourage them to say, Well, look, if you have any interest, please let us know. And it actually has been that idea where when we're priced that you'll have that bracket, it could be 550 to 575 seems like a fair value.
00;16;30;05 - 00;16;51;09
John McGregor
Yeah, just listed the 575 and then using our network and other listings to bring buyers through and sideways and still encouraging them to make an offer. And a good example was when we had advice in court where the owners were very comfortable with anything between 550 to 575 listed at 535. Martin from our office bought a contract for things like 565.
00;16;51;09 - 00;17;17;24
John McGregor
I think we ended up negotiating, which was right in our range, and they were really happy with that. Yeah, sure. And I know it depending upon your school of thought, it will also look advertise aggressively to bring in that interest. But with the conversations I've had with my clients, I say, look, if we're comfortable with knowing we're going to be on the market for 2 to 4 weeks before we're probably going to find an offer that you're comfortable with, this is a strategy we're going to do, and they'll be like that sounds great.
00;17;18;00 - 00;17;22;23
John McGregor
It gives them that opportunity to feel like they've advertised it their highest dream price.
00;17;22;23 - 00;17;23;29
Patrick Berry
And that.
00;17;24;01 - 00;17;34;18
John McGregor
With confidence it'll probably adjust to the market if the interest isn't there. So that's how we've sort of adjusted and buyers are sort of anecdotally have appreciated that fact as well.
00;17;34;22 - 00;17;50;12
Aaron Horne
Yeah, use Hyson as an example. Was that a 2 to 4 week campaign? Because that one feels like it kind of came and went really quickly. So it was kind of right on the cusp of the early side of the two weeks like it it hit. And yet you like your your range There was five 5575 Yep. Smack bang in the middle.
00;17;50;14 - 00;18;02;08
Aaron Horne
It's kind of where you had negotiated it too. So it's that thing again of being in an on the market, which is what we've talked about before. That seems like really crucial currently.
00;18;02;09 - 00;18;19;26
John McGregor
Yeah. Yeah. And you can and again every pricing strategy is going to work and it's about making that balance with the client. I suppose the good thing about a fixed price is always it's the most transparent way in a private trading, which is that's the price. If you pay it, you'll get it. Yeah. Yeah. And outside of that open the negotiation.
00;18;20;01 - 00;18;41;22
John McGregor
So in this changing market, I've just found that a little bit easier to work with from a negotiation standpoint, from the perspective of Anonymous. Yeah. Especially when you've got properties that buyers are saying, what else have you got? Properties that need a little bit of renovation. They're not spick and span, there's not a giant amount of demand for them.
00;18;41;26 - 00;18;53;28
John McGregor
So just fixing that price is a lot easier rather than trying to negotiate, you know, for a competitive property, it's creating competition where there just isn't one for that kind of property at the moment. Yeah, yeah.
00;18;54;00 - 00;18;56;16
Aaron Horne
Yeah. So no, I think that.
00;18;56;19 - 00;19;08;25
John McGregor
I well, I've got one for you to throw out if you're a buyer, What are your three things that you should be looking for like in spring to be able to find that dream house like, oh three tips I guess this is the No.
00;19;08;27 - 00;19;09;14
John McGregor
These are.
00;19;09;16 - 00;19;10;17
Aaron Horne
The nine. Two is No. Yeah.
00;19;10;17 - 00;19;14;17
John McGregor
I want to get him back on track And then you had no it's I don't have no, it's I'm going to be under the.
00;19;14;19 - 00;19;15;02
John McGregor
Right it's it's.
00;19;15;02 - 00;19;16;20
John McGregor
Still on strike on mindset.
00;19;16;22 - 00;19;20;27
Patrick Berry
Yeah. But John's got No it's not that it's self-employed.
00;19;20;29 - 00;19;40;07
John McGregor
Well I got a this is just I just dumped it from a couple of conversations that have happened the last few days from the open homes and follow ups. But the three points I had was get your act together. Um, what do you need? What can you compromise on and get comfortable with negotiating? So get your act together, which is we've talked about a bunch.
00;19;40;07 - 00;19;43;04
John McGregor
Get your team together. Yeah, Yeah. It's also knowing your position. So.
00;19;43;04 - 00;19;47;08
John McGregor
So that's talking to a finance broker, talking to your building inspector, having everything lined up ready to.
00;19;47;08 - 00;19;54;09
John McGregor
Go, and your legal as well. So you've got your contacts, you're not doing it later on. They know who you are, what you're looking for, and you can act quickly. Yeah.
00;19;54;12 - 00;20;08;29
John McGregor
Because that is, that shows strength to the agent as well. If you're able to go to the agent and be like, Yep, my lawyers this my finance broker, I'm pretty approve of this guy already, I just need you to send him the contract. Yeah. That then creates a better conversation for you as the agent to talk to the the vendor.
00;20;09;04 - 00;20;21;14
John McGregor
Well, and that comes through into the negotiation later because people always think it's price but the term so. But the other one too was know who's influencing your decision. So that could be I mean we.
00;20;21;14 - 00;20;22;17
John McGregor
Had gone deep.
00;20;22;19 - 00;20;23;08
Patrick Berry
Ooh.
00;20;23;11 - 00;20;45;13
John McGregor
We had to know that deep. There's a, there's a family where there was the two came from Melbourne, they're her best mate. He just happened to be a value and then her mum and dad were there at the same time. So, um, if there's multiple people that you're, it will influence, try and get them through the inspections if you can because they may be on your side or they may be working directly against you like by accident.
00;20;45;20 - 00;20;54;21
John McGregor
Yeah. That can be sometimes relative who would just, you know, absolutely smash a property because all it's, it's bad as bad as bad as bad. But they think they're acting in your best interest.
00;20;54;21 - 00;20;59;16
John McGregor
But also that's dad of a daughter. That's right. You know just the stereotype that seems to be whenever I.
00;20;59;16 - 00;21;00;02
Patrick Berry
Have had.
00;21;00;08 - 00;21;04;05
Aaron Horne
I think Sarah's mum was the one when we were looking, she was like, I don't know about this.
00;21;04;05 - 00;21;06;05
John McGregor
And I was like, Well, I'm not sure about going, okay, you.
00;21;06;11 - 00;21;08;29
Aaron Horne
Can't say my vision off. I've got a vision for this one.
00;21;09;02 - 00;21;09;12
Patrick Berry
Yeah.
00;21;09;15 - 00;21;12;10
John McGregor
So sometimes there is that parent that wants the best for.
00;21;12;12 - 00;21;27;29
John McGregor
Their kid and sometimes they're terrible. Like their divorce is awful. Yeah, Yeah. So that's the thing where if, you know, is influencing a decision, try and lean on a person who's either been there, done that, or has some actual expertise. Yeah, Yeah. And that's where, you know, choosing your team is important because it's like, yep, pay them respect.
00;21;27;29 - 00;21;31;19
John McGregor
Thank you so much for your impact. I think completely. Forget everything that's like.
00;21;31;22 - 00;21;35;10
John McGregor
Thanks, mom and dad. I appreciate you coming along but and those thoughts so.
00;21;35;12 - 00;21;56;05
John McGregor
That's a quick get your act together because that's giving you confidence in starting to make these decisions moving forward. So the thought was, what do you need and what can you compromise on? So in these elements of what to look for? Yeah, one of the things I've done is really interesting and last 12 months is the expectation of bedroom size is dramatically changed from our generations and new generations to what they were 30, 40 years ago.
00;21;56;06 - 00;21;58;05
John McGregor
Oh, everyone wants a king size bed these days in.
00;21;58;05 - 00;21;59;14
John McGregor
Every single bedroom. Yeah.
00;21;59;14 - 00;22;05;13
John McGregor
So I've I've had that conversation with a couple of people recently and like, you're looking at a two bedroom unit, it's never going to fit.
00;22;05;13 - 00;22;07;04
John McGregor
Yeah. Yeah, exactly.
00;22;07;07 - 00;22;09;29
John McGregor
So I'm actually surprised by how many people are in king size beds.
00;22;10;06 - 00;22;25;25
Aaron Horne
Yeah. Look, I would never have guessed that as I like. Yeah, I guess thinking about from a buyer's point of view, going and looking at a house, I know the bedroom, as we have in our 1972 home, are way bigger than this one. Like they've got the big tents and all that stuff showing up all around.
00;22;25;25 - 00;22;41;18
John McGregor
But very good point. And I don't think that's necessarily a bad thing to have high expectations. But in these markets, especially in this area where a lot of them were ex housing, they're 9200 square meters, generally speaking, they just that old, old style of expectation. Yeah.
00;22;41;21 - 00;22;46;11
John McGregor
I think you can have a king and every bedroom they just some would be king singles not king beds.
00;22;46;11 - 00;23;06;27
John McGregor
Well I mean it's we've got a king bed in that it's just it took up the entire room. It's a mistake. Yeah but you know that's a that's that thing where if you're looking at the house, it's that knowing what you can compromise on. So I know there are those of us that can't quite visualize changes and that might be important if you can't make changes in your budget.
00;23;07;00 - 00;23;26;15
John McGregor
But if you've got the my thought was the look at your areas. So be open to I specifically want this suburb. Do you need the suburb. You know is is there are others can I give you the same of what you needed based on your lifestyle. Yeah. So that's where I refuse. Based on a prejudice or maybe a prejudice is wrong.
00;23;26;18 - 00;23;34;29
John McGregor
And like, there's a lady who said the other day, I'm going to skip this suburb and go from Moonah to Montrose and just skip the walk. And I think that's a mistake.
00;23;35;01 - 00;23;37;23
John McGregor
And I being Glenorchy boys, we so.
00;23;37;26 - 00;23;50;01
John McGregor
The, you know, it's sort of your area can often reside based on your prejudices. It's not, not so much in reality. Yeah. Yeah. Um, but that's just a thought would be open to jumping across the street or across the suburb. That was.
00;23;50;04 - 00;24;00;06
John McGregor
That. I love that theory. Like, I mean, I've recently moved here to the center of Glenorchy, right behind the office and we get con like a new Newtown Moonah lifestyle here in Glenorchy. We walked everything.
00;24;00;06 - 00;24;00;25
Patrick Berry
Yeah, Yeah.
00;24;00;25 - 00;24;02;04
Aaron Horne
So there's not quite as.
00;24;02;06 - 00;24;14;13
John McGregor
Not quite as many restaurants or coffee shops, but there is a really good coffee shop down the road. There's the coffee club. If you want to go have breakfast, like there are still services within walking distance that give you a similar filter. Yamuna. Newtown, North Hobart.
00;24;14;14 - 00;24;15;06
John McGregor
Absolutely. Here in.
00;24;15;06 - 00;24;17;16
John McGregor
Glenorchy. So and it's a cheaper area to live.
00;24;17;16 - 00;24;34;27
John McGregor
100% Yeah. And the transports do you know, really good. Yeah. So that's a thought the when it comes to their bedrooms in the hall, is it be open to speaking with someone who knows how to move a wall around. You know. So sometimes a little you know a layout if you've got it, there's only so much you can do with a 90 square meter house.
00;24;34;27 - 00;24;43;00
John McGregor
But if you've got 120 square meter house with the bedrooms a little bit odd, or maybe there is a subject to the floor plan where you can move those things.
00;24;43;00 - 00;25;00;24
Aaron Horne
Well, yeah, this is what happened with me in my place. And maybe what Sara's mum couldn't say was I literally walked in. I was like, You pull this room out, you've got this massive living area that will be open, plan, living kitchen, and then all the bedrooms at the other end. Perfect. I got this. I'll take.
00;25;00;24 - 00;25;01;17
John McGregor
It. Yeah.
00;25;01;19 - 00;25;05;09
Aaron Horne
I think she was like, Oh, not a bit nooky and you can't really.
00;25;05;11 - 00;25;20;03
John McGregor
See you in even further than I went. So I vision that when I looked at your place for the first time. But the bit that I love is you had an outdoor laundry and you removed the living cupboard in the hallway to create a door back in so the laundry could then be inside. Brilliant. I didn't even say that.
00;25;20;03 - 00;25;21;15
John McGregor
And I'm surprised we had to spot this stuff.
00;25;21;15 - 00;25;22;21
Patrick Berry
And, well, the other.
00;25;22;23 - 00;25;30;25
Aaron Horne
Spot of being like, Well, you can't remove all the storage was the laundry was huge. The outdoor laundry had so much space and we had liquid.
00;25;30;25 - 00;25;31;25
John McGregor
Storage in there. Yeah.
00;25;31;28 - 00;25;44;08
Aaron Horne
Just like, well, you just turn the storage basically and put that in that way and everybody wins. So yeah. And it's those things where if you can't say it, you can't imagine it. And it was like, Yeah, I think it's actually a very good point.
00;25;44;08 - 00;26;00;29
John McGregor
John And I guess it comes down to your personality. If you can't visualize that, bring along someone who can because when it comes to a finished product, what people are really buying and paying a premium for is time. So they don't have to go through this headache which is renovating. So they'll buy that finished product and pay a premium for it.
00;26;00;29 - 00;26;04;00
John McGregor
So obviously that's just opening up itself to more options.
00;26;04;03 - 00;26;07;03
John McGregor
So you available for retainer if someone needs that vision.
00;26;07;03 - 00;26;10;23
Aaron Horne
And come and point out all the bits of woes, you can move.
00;26;10;25 - 00;26;12;26
Patrick Berry
Forward or your building. Okay, So you.
00;26;12;28 - 00;26;13;23
Aaron Horne
Know, that one's like.
00;26;13;23 - 00;26;16;05
Patrick Berry
Mary can not be moved.
00;26;16;05 - 00;26;30;24
John McGregor
And so I guess the third point then was you've got to get comfortable negotiating. And if you can't again, get someone who can because negotiation is conflict, you know, sometimes it can be very pleasant. But the reality is, is that all But I just want to say that, you know, because people don't.
00;26;30;24 - 00;26;45;18
John McGregor
Want to end them like, yeah, because I've had that with feedback. I'm like, Well, what do you think it's worth? Oh, no, what you've got to advertise that's fair. Might. Well, if it was fair, then you'd be interested in making the offer. Yeah. So clearly you don't believe it's worth what I'm asking. So, you know, tell us honestly what you think it is.
00;26;45;20 - 00;26;50;10
John McGregor
And then they open up. They're like, Well, actually, I think it's blah, blah, blah, blah, blah. And I was like to say, This is what we need tonight.
00;26;50;10 - 00;26;53;08
John McGregor
Would you be comfortable putting that in writing will present to the owner. Maybe they'll consider.
00;26;53;08 - 00;26;59;28
John McGregor
It. Yeah, yeah, yeah. So you do have to know that you can't offend anyone with feedback. Feedback is out. King At the moment.
00;26;59;28 - 00;27;20;18
John McGregor
I think it's be okay if they are offended. It's not your fault that your opinion offend somebody. Yeah, it's, um, it's it's on that other person. So I guess when it comes to negotiation two is that that's where the getting confidence confident in your position is you can go straight into you don't have to worry about oh who's your building inspection now it's already sorted Legos already sorted.
00;27;20;20 - 00;27;34;24
John McGregor
You know your finance that's already sorted. And so then you can start to talk about us better questions. Look, is it going to be helpful if my finances sorted? I don't need my 28 days. I can bring it down to 14 and we can settle sooner. Would that help? You know? Yeah. That the owner. What do they need?
00;27;34;24 - 00;27;53;27
John McGregor
More time so you can be flexible and you know, negotiate with your timeframes. Yeah. Not just with price. Um, but obviously from a buyer's perspective, the tighter the contract is more attractive to the owner, which will allow you to hopefully negotiate a better price. That's just advocate for the buyers here. And the good thing is in that's okay.
00;27;53;29 - 00;28;13;05
John McGregor
Making an offer beneath the asking price. This is the market where it happens. You know, the last few years it just that just was not an option. But the reality at the moment is that most properties are probably selling below the advertised price and that's perfectly fine. The idea that, you know, either party has to think that it has to go either way is just wrong.
00;28;13;05 - 00;28;20;29
John McGregor
Like the price of real estate is subjective. Yeah, yeah. And be okay with offering a lower price just to get that process started.
00;28;21;01 - 00;28;43;12
John McGregor
And it's interesting for anyone to note out there as well, like what you're describing is the vendor discount. So it's the original list price versus the sale price. And the difference between the two Now six months ago that was up around six or 7%, that's now down to about 1.5%. So there is still a bit happening, but agents and owners are now advertising their homes a lot closer to the mark of where people are prepared to accept.
00;28;43;12 - 00;28;51;02
John McGregor
Yeah, versus before where there was a big gap and so properties were happy to be dropped by, you know, 30, 40, $50,000 to get a deal together.
00;28;51;06 - 00;29;05;14
John McGregor
And so interesting because it's buyers that drive the price of the market, not the owners. Yeah, Yeah. Because when that market was running hot hours and the owner's expectations were less than what the buyers were prepared to pay. And then as, as market, you know, the demand drops, so too. So it goes the other way round as well.
00;29;05;16 - 00;29;11;17
John McGregor
Yeah. So yeah, it just no there is negotiation there but it's probably not as big as what it potentially once was.
00;29;11;17 - 00;29;27;15
John McGregor
Yeah. Yeah. And the thing is to even in my case of these properties is that the counter offer is the asking price and the look. But well now look in this plot we've priced it fairly, we believe it's true and that's the, you know, that is the price you need to pay. And some people will be comfortable with that.
00;29;27;15 - 00;29;30;21
John McGregor
In other cases, it has to adjust, you know, So it just depends.
00;29;30;23 - 00;29;31;17
John McGregor
Definitely. Yeah.
00;29;31;18 - 00;29;40;24
Aaron Horne
Cool. Well, actually, I was going to try to pack because he he's right as we're on strike and he hasn't had a chance to prepare. But I think the strike is over or there's talk that it could be over.
00;29;40;24 - 00;29;43;16
Patrick Berry
So my guys haven't come back, but I've, I won't give you.
00;29;43;16 - 00;29;44;16
Aaron Horne
A week, Right. I'm not going to give.
00;29;44;16 - 00;29;44;24
Patrick Berry
Away.
00;29;44;26 - 00;29;59;15
Aaron Horne
What St John's given us such an in-depth kind of breakdown of of what to look for as a buyer in the spring market, I think. Have you awake to prepare? We're going to check out your notes next. I'm going to come back. Better not be a black scribe.
00;29;59;18 - 00;30;01;05
John McGregor
All powered up tomorrow, next week.
00;30;01;06 - 00;30;11;07
Aaron Horne
I can imagine you just going to hit such a beat. I need three responses. However, back next week we'll talk about three things that sellers should be looking for.
00;30;11;07 - 00;30;14;08
John McGregor
It sounds good. I love the part two. I love a part two.
00;30;14;08 - 00;30;22;02
Aaron Horne
I love the property part. Like she has subscribed to all the things. If you guess coming up in the coming months. Yeah.
00;30;22;05 - 00;30;23;18
John McGregor
Sounds good to.
00;30;23;21 - 00;30;24;16
John McGregor
See you next week guys.
00;30;24;16 - 00;30;32;20
Aaron Horne
By You have been listening to the property both recorded and edited by Foreman for Media House in conjunction with the full and full property code.
00;30;32;26 - 00;30;44;08
John McGregor
This podcast is general information only and the thoughts of views expressed is the opinion of our panel. And listeners should always then use their own investigation into any topic we discuss to ensure they fully understand their own situation.
00;30;44;12 - 00;31;01;27
John McGregor
It does not constitute and should not be relied on as purchasing, selling, financial or investment advice or recommendations expressed or implied, and it should not be used as an invitation to take up any agent or investment services. No investment decision or activity should be undertaken on the basis of this information without first seeking qualified and professional advice.