The Elephant In The Room Property Podcast | Inside Australian Real Estate

Ben Kingsley is probably best known for being one half of Australia’s number one property podcast “The Property Couch”. Ben is without doubt one of Australia’s big names when it comes to property investment and his business Empower Wealth has helped thousands of Australians. It was such a pleasure to get Ben fired up and we sure did get to talk about the things nobody talks about!

• The case for regulation of the property industry.

• Should you buy and hold, or buy and sell?

• Why low wages growth will be a worry for property investors.

• How big data could improve investing opportunities.

• What is PICA and why investors should join.

• Why a lot of financial planners don’t look at property.

• How families should come together with family wealth.

• The best money management system for your life.

• Why negative gearing is a political tool and how removing it will affect the market.

• How house and land packages are sold, and discounted.

• What do state governments really want and why GST may be going up.

• Why second tier cities need to be on your radar.

What a brilliant episode!

Links:

The Property Couch https://thepropertycouch.com.au/

Property Investors Council of Australia - PLEASE JOIN! https://pica.asn.au/

Work with Veronica? [email protected]

Work with Chris? [email protected]

See omnystudio.com/listener for privacy information.

Anthony Millet, director of BrickX, which offers a new model of getting onto the property ladder “one brick at a time”. This is NOT a sales pitch, rather an exploration of what it means when a “lumpy asset” is broken down into “bricks” that can be sold one at a time. Here’s what we cover:

• What is fractional property investment?

• What’s been the best performing investment over the past 20 years.

• The benefits of liquidity and the power of cash.

• Why property can’t be measured like your share portfolio.

• Issues with diversification.

• The philosophy underpinning blue chip investment property.

• Why venture capitalists are liking this model.

• How much gearing is required to make a blue chip property positive geared.

• Why you should not use your credit card to buy investments.

• Short term versus long term property investment.

• A potential market adjustment resulting from changes to negative gearing.

• What drives the flight to safety in times of crisis.

• The affordability problem and what’s really caused it.

Fundamentally any investor MUST remember that quality beats quantity, so listen and let us know what you think about this as an option.

Links:

www.brickx.com Pessimism Research: https://www.realestate.com.au/news/wannabe-homebuyers-wont-sacrifice-coffee-smashed-avocado-new-brickx-survey-shows/

Work with Veronica? [email protected]

Work with Chris? [email protected]

See omnystudio.com/listener for privacy information.

Kylie Davis is a content extraordinaire who has worked in and around the property market for many years. Originally a journalist, she recently started her own content marketing business after spending four years at Australia’s #1 property data source, CoreLogic. This is such an amazing episode as we explore data but also the people side to property. Here’s a few of the things we discussed:

• How property is more about people than prices.

• What buyers and sellers really think about sales agents.

• Why low expectations presents an opportunity for real estate agents.

• The best agent aren’t necessarily those who sell the most.

• How to mystery shop the best agent for you.

• How poor agent behaviour can turn off buyers.

• How technology is changing the real estate experience.

• What’s the difference between median value and median price?

• Which data can help determine your bidding strategy.

• How the principal of “measure twice, cut once” applies to buying property.

This is such a great episode to further your thinking on what may change in property, and what will stay the same.

Links:

https://www.theelephantintheroom.com.au/podcasts/030

https://www.linkedin.com/in/kyliecdavis

Kylie’s article on buyer and seller psychology:

https://www.propertyobserver.com.au/forward-planning/advice-and-hot-topics/87278-psychotic-vendors-ungrateful-landlords-feral-tenants-and-disgruntled-buyers-why-estate-agents-hate-houses-and-people-kylie-davis.html

Corelogic reports on buyer and vendor perceptions of agents

https://www.corelogic.com.au/news/future-of-real-estate#.W3z0eZMzZTY

https://www.corelogic.com.au/news/perceptions-of-real-estate-agents#.W3z0epMzZTY

Work with Veronica? [email protected]

Work with Chris? [email protected]

See omnystudio.com/listener for privacy information.

Fiona McKenzie is a negotiating extraordinaire and runs her own consultancy firm. She has degrees, MBA and university medals on her mantle piece, but what was so interesting is that this is all about the “Elephant”. There are so many great techniques that we can all use in life in this episode but more relevant when negotiating to buy a property.  

We discussed so many great point and here are just a few of the big ones:

• What a BATNA is and why you need one.

• Why must have a least acceptable agreement BEFORE you start.

• How to negotiate by knowing the other’s motivations.

• What is the point when you will get long term buyers remorse.

• The “winners curse” phenomena.

• Why some negotiation is not always about the price.

• What has been debunked in negotiation tactics.

• Why silence is so effective.

• When to use the “going to the balcony” technique.  

• How great negotiators practice to get perfect.

• When “gut feel” should be trusted.

This is such an important episode on negotiating smartly.

https://www.linkedin.com/in/fionamckenzie/

https://resolvingmatters.com.au/about-us/

BATNA - https://www.pon.harvard.edu/daily/batna/translate-your-batna-to-the-current-deal/

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The stress created by “keeping up with the Joneses”.

Introducing, a very funny and insightful Lynette Malcolm. Lynette is one of the top agents in the Upper North Shore of Sydney and knows her market better than anyone. Chris was sadly absent for this episode, but he wouldn’t have had a chance to get a word in because Veronica and Lynette bounced off each other hilariously.

In particular they covered:

• How home priorities change when kids finish school.

• Where the money flows to from the Upper North Shore.

• When renting before buying in a new area can be the right move.

• Why you shouldn’t apologise when viewing a property multiple times.

• Is “happy wife, happy life” driving the vast majority of our property market?

• How our home is our castle and status drives many decisions.

• What can happen when you rush and buy the wrong home.

• Why you need to be careful when finding comparable sales data.

• How to position your offer to improve your chances of acceptance.

• In what circumstances will an offer never be accepted?

This is such an enlightening episode into the dynamics of buying a home.

https://chadwickrealestate.com.au/team/lynette-malcolm/

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What should buyers look at before buying a "renovator's delight"?

Introducing, Tom Wills. Tom is an Architect of over 20 years and runs his own firm TWArchitects, specialising in residential design and small developments.

This is one hell of an episode that gets the elephants roaring in the renovation world.

There’s lots to cover in this one and this list is only the start:

• Why you should go to see an architects before you buy your dream property.

• How councils are their own kingdom and do things their way or the highway.

• Beware the community NIMBY group.

• Why Council rules are subjective, not set in stone.

• Why you should not fall for myth of precedence.

• How planning rules constantly change and you need to have a plan of attack in advance.

• How you can under capitalise, even more so than over.

• Styles of houses go in and out of fashion, but what enduring qualities survive?

• What to look for in an architect.

• Issues with building contracts to be aware of.

You do not want to miss it if you’re even dreaming of renovating.

Links:

https://www.ubank.com.au/newsfeed/articles/2017/02/new-documentary-explores-how-we-can-redefine-the-australian-dream

www.TWarchitects.com.au

https://www.planningportal.nsw.gov.au/

http://www.architecture.com.au/architecture/national/working-with-an-architect

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Introducing the one and only, John Lindeman. John is one of Australia's most respected Property Educators with over 40 years of personal investing experience and research driven education. When experts need advice, they go to John .

Chris unfortunately was MIA on this one, and he was gutted because it was one of the most enlightening episodes on where it can all go wrong for investors

• The biggest mistake when investing for yield 
• How people tend not to understand what happens to yield when prices go down
• Would you buy in Hobart now 
• If booms are driven by investors and their lifespan.
• Why you need to value a property right if buying
• If all cities behave differently and the impact the Brisbane Flood had.
• How long the impact of natural disasters can take for people to get over them.
• What government policies impact the market and when it fails, what they do
• The average growth all the way back to 1901
• What was more valuable back in 1901, country home or a city house
• If migrants drive growth in cities and the type of property they love

These are just some of the big points and that's after I cut ten other big points out.

This one is not to be missed by keen property investors.

Episode link:

www.theelephantintheroom.com.au/podcasts/026

John's links:

http://www.7steps2success.com.au/

https://www.yourinvestmentpropertymag.com.au/expert-advice/john-lindeman/the-truth-about-good-yield-and-bad-yield-248038.aspx

https://www.amazon.com/Mastering-Australian-Housing-Market-Lindeman/dp/1742468527

https://www.amazon.com/gp/product/0730319814/ref=dbs_a_def_rwt_bibl_vppi_i0

http://www.propertypowerpartners.com.au/PPP/index

Work with Veronica? [email protected]

Work with Chris? [email protected]

See omnystudio.com/listener for privacy information.

Amanda Farmer is the go-to-expert in "strata world" with over 15 years experience as a strata lawyer. Amanda is also a fellow podcaster with over 100 episodes under her belt and she lifts the lift on many of the problems and opportunities she sees with strata. Here are some of the 'aha' moments:

• Why you should get involved with your strata committee and the best way to do it
• What well-run buildings do and the difference between a strata committee meeting and a general meeting
• Why you should buy “Eyes wide open” and know exactly what you are buying and the condition it is in.
• Why you need a ying to your yang when buying and how two peas in the pod don’t work
• The ongoing plague of poorly built building defects and why you wouldn’t want to buy new buildings.
• The danger of a low valuation when buying off the plan and why you need to be aware of the risk.
• The harsh reality when you buy off the plan is you are sign contract today but are totally committed for many years ahead
• The  awful sunset date and why off the plan contracts are water tight to protect others
• The crazy situation when buildings over 4 stories do not need insurance
• Why building defects usually start after 8 years, when times up on insurance

This is one of the most elephant filled episodes and you should not buy into a strata complex unless you've truly listened to this brilliant advice.

Link to Amanda's podcast, ebooks and other resources: https://www.yourstrataproperty.com.au/

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Pete Wargent, arguably Australia best property blogger and a buyers agent in Brisbane, Sydney and London, opens up on the Brisbane property market amongst many other things. Pete has a brilliant mind and he explains why understanding demographic shifts is so important to investors. If you are looking to buy in Brisbane, don’t even consider it until you’ve listened.

• How you can learn to be a better invest by finding the story through picking through data

• How you can watch demographics shifts by tracking data and see city evolving   

• How we have a very short term memory when investing

• How leverage works much better when you are younger

• How Brisbane is rebalancing, the property and areas to target if you are an investor  

• The problems with investing in higher yield areas

• How buying land is the true scarcity in inner rings

• How some style of property go for big money right now

• How buying Pre-Market & Off-Market is much more common in Brisbane

This is one of our first episodes going in to detail about investing in Brisbane and we will be going there in October to interview more Brisbane locals.

Links: http://allenwargent.com/who-we-are/pete-wargent/ Articles on Pete's research into the impact of Labor's proposed tax changes: http://petewargent.blogspot.com/2018/02/high-risk-alert.htmlhttps://www.livewiremarkets.com/wires/impacts-of-labor-s-proposed-negative-gearing-and-cgt-reforms https://www.news.com.au/finance/real-estate/sydney-nsw/labor-housing-reforms-would-have-unintended-consequences-report/news-story/4ac931a05b4e1094018dadf667ceb511 https://www.riskwiseproperty.com.au/News/impacts-of-labors-proposed-negative-gearing-and-cgt-changes

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The inner workings of the Melbourne property market revealed.

Buyers advocate Cate Bakos reveals all the quirks of her local market and the advantages she gains from knowing the real estate agents better than any individual buyer can. She also gives loads of practical tips on how buyers can keep money in their pockets. We cover: 

• What’s happening in the Melbourne property market? Will it follow Sydney?

• How first home buyers have created a dual speed property markets.

• Chinese buyers, oversupply and whether some apartments are good investments

• The impact of traffic and public transport on property prices and what creates sustainable growth.

• Auction underquoting and whether it still exists.

• What is a boardroom auction and why buyers agents love them.

• When to make a pre auction offers if you need a cooling off period.

• Where does a buyers agent add value and the advantages of local knowledge.

• What is vendor advocacy and when/why/how is it necessary?

• Where and what to buy in Geelong & Ballarat.

Plus fundamental tips on what to look for when buying for capital growth.

Link: http://www.catebakos.com.au/

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