Author(s): Peter O'Malley
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.
PETER O'MALLEY is the bestselling author of Real Estate Uncovered, the principal of Sydney-based agency Harris Partners and the pioneer of the silent auction, an alternative to public auctions now preferred by many agents throughout Australia and New Zealand.
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