Brady Yoshia on Ticker News

Date

July 7, 2021

 

Brady Marcs founder, Brady Yoshia, was interviewed on Ticker News by host, Adrian Franklin. Brady discussed the challenges and opportunities that exist in navigating the current environment of the property market, as well as specific advice for expats looking to return home.

 

Transcript

Adrian Franklin: There has been a large shift in buyer trends with a pandemic taking hold and massive changes to the property market as a result. Navigating these market conditions can be tricky and knowing what to look for, and how to create opportunities is more important than ever. For more, let’s bring in Brady Yoshia, buyer’s advisor, founder and businesswoman. Welcome in to you how are you?

Brady Yoshia: Thank you. I’m very well, thanks and yourself, Adrian?

AF: Yeah, going really well. Thanks for your patience, of course. So there’s been a lot of talk about the property market in Australia every single day, something is happening. So what challenges are you seeing in the market right now?

BY: They’re aging, there are so many challenges at the moment, with buyers and vendors, especially with Sydney being in lockdown, that’s a challenge in itself. So buyers are finding that the stock levels are extremely low, due to vendors not knowing whether they should put their property on the market, whether they’re allowed to have buyers come through. So it’s a huge domino effect, with the lack of properties on the market, that stopping the buyer confidence of feeling well, “Am I able to buy now?”, “Have I missed the boat?”, “Should I wait till after lockdown?”, particularly in Sydney? So there’s a lot of challenges on both sides.

AF: And a big one, as you’ve spoken about is the difficulty with Australians coming back into the country. So how long before returning back to Australia to live should an expat actually look to start their property search, do you think?

BY: So there’s an enormous amount of Australians still living overseas, my advice would be to have as much time as possible. Prior to the COVID pandemic, we found that would take us about three to six weeks to find properties for our clients, it’s now taking about three to four months to find properties. Not only is the market tied in terms of buying property, so is the rental market. So what I’m saying to a lot of expats is leave yourself a lot of time, as much time as possible, because you don’t want to find yourself coming back, finding it hard to find a rental whilst you’re looking to buy. So my best advice would be give yourself as much time as possible.

AF: So what are some of the challenges faced by expats you’ve touched on it there, but when trying to secure a property in Australia while still overseas? And what are some of the potential benefits as well?

BY: Sure. So a lot of the challenges Adrian are that being away from Australia, and not being able to physically walk through a property. So whether you’re either overseas or even interstate, it’s quite hard to not be able to see what the real estate agent doesn’t want you to see. So essentially, what you’re going to see are the beautiful attributes of a property. So if you’re not physically able to walk through a property, you’re not going to be able to see the watermark in the corner of the room, the crack tile on the roof. So essentially, it’s very important for you to have a trusted adviser on your side, to physically walk through the property. Otherwise, you are going to be misled you it’s a risky time to be buying a property when you’re overseas. However, there’s a lot of benefits. If you do have someone on the ground that can walk through the property and have a look, you also could be running or you also are going to have the benefit of potentially seeing properties that may not hit the market. So for example, if you’ve got a buyer’s advisor or a buyer’s agent, that will most probably be looking at properties a lot quicker than buyers that are just coming through seeing properties on real estate and domain. So there’s a benefit of buying a property when you’re overseas.

AF: And just finally, in terms of getting into the market at the moment, I mean, it’s it’s a difficult conversation for some people given it is expensive, but what tips do you have for people who who might be considering getting into the property market, particularly right now and then you know, over the next 12 months or so.

BY: So back in the day when you could buy a property and you could insert the ‘subject to finance’ clause in a contract, giving you time to get your finances in place once you’ve exchanged a contract. It’s very different today. You need to have your finance in place. It gives you a lot more bargaining power. And you also run the risk of missing out on a property that you really love if you don’t have your finance in place. So my number one tip is to have your finance in place. Secondly, understand the area that you want to buy in, understand, check out the amenities or get somebody to find out the amenities for you. See what the transport scenario is like the local schools, what future developments there are, make sure that the suburb is solid so that you know exactly where you’re going to move to. And the other thing which is also another important tip is a lot of people today have got FOMO. But feel that everybody’s going out there buying. And if your friend is buying a property now, it doesn’t mean to say that this is the time for you. My best advice would be to travel along your own property journey. Don’t go out and buy just because you think you have to, it could be a very, very expensive mistake. So make sure that you travel your own journey.

AF: I think that’s great advice. We speak to a lot of people about property here, and I’ve never heard anyone put it like that. And I think that’s a great way to put it rather than, you know, there can be this pressure to get in and to chase and it’s like, do it for yourself. I think that’s a, yeah, a wonderful piece of advice. If we want to learn a bit more about your work or get in touch, where can we head

BY: So the property journey is very, can be very daunting. However, if you would like us to hold your hands, please go to www.bradymarcs.com.au. And we’ll guide you through every step of the way.

AF: Thanks so much for being on Ticker News Friday. We’ll hopefully talk again soon. Thank you so much, Adrian.

 

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