Whether it’s your first or fifth home, knowing how best to negotiate a property purchase is key to securing a fair price. Photo: Yuri Acurs People Images.
Canberra’s property sector is unique. Our capital isn’t just the political seat of Australia, it’s also one of the world’s most liveable cities, with a huge range of urban, suburban, and semi-rural homes to choose from.
Diverse homes attract diverse buyers, which means expats, investors, growing families and first home buyers all have a foothold here.
But trying to navigate such a busy market doesn’t come easy. Buyers need the right skills and support to win the day.
While most people only buy a few properties in their lifetime, Alex Anlezark has years of experience on both sides of sales. He spent more than a decade selling ACT homes before transitioning to a buyers’ agent with Cohen Handler Canberra, which gives him a unique perspective on negotiations that he’s more than happy to share.
Alex’s first tip? A cool head can go a long way, so keep those emotions under wraps.
“You’d be surprised how many people show their cards too early,” he says.
“Buying a house is exciting, especially for first home buyers and families looking for their forever home, but I always recommend treating it like a business decision.
“If you’re super keen from the get-go, you could give up a good chunk of your negotiation power before even speaking to the agent.”
For a neutral first approach, consider reaching out to the agent via text or email rather than a phone call.
Open homes are a great opportunity to get a feel for a property and imagine what it would be like to live there. But don’t forget to check all the boring stuff, too.
“Always read your building report beforehand and use it as a checklist while you move through the house,” Alex says.
“If a home has been styled or is still furnished, try to imagine each room as a blank slate.
“Heavy air fresheners and decorations can sometimes be used to mask issues, so don’t be afraid to check behind that fancy couch.”
Take some time to pop past shortlisted properties in the morning, afternoon, and evening.
This trick can provide a snapshot of local traffic, how sunlight moves across the property, and whether the area feels safe after dark. It might even highlight pesky neighbours…
Cohen Handler is the largest buyers’ agency in Australia. As part of the Canberra team, Alex Anlezark’s job is to have a finger on the local market’s pulse at all times. Photo: Michelle Kroll.
Got a favourite? Great – before making an offer, suss out why the vendor is selling and how much pressure the sale is under.
Are they downsizing or moving overseas? This could mean they’re motivated to sell quickly. If the home is still lived in, offering a longer settlement period might sweeten the pot.
Compare prices with similar properties in the area. If there’s a significant difference, less or more, ask the agent why.
“Keep an eye on auction results in your suburb and its surrounds,” Alex says.
“Another thing to watch is what homes sell for in comparison to their asking price.
“When it comes to making an offer, start relatively strong and be prepared to walk away if negotiations fail.”
It can be helpful to list a few reasons behind an offer, especially if it’s well below the asking price. Heavy road noise, nearby long-term construction, limited local amenities, and issues in the building report are all valid.
Alex’s final advice is to gather and review all information before making that final offer. Knowledge is power.
“Lots of people assume negotiation is all about confidence, but that isn’t really true,” he says.
“The more information you have, the better. As buyers’ agents, our job relies on staying informed of our market and connected to its people.
“We also have access to exclusive and off-market properties, conduct thorough due diligence, and can give you a heads-up if the sales agent on your preferred home is unlikely to budge. That’s the difference.”
For more information, visit Cohen Handler: Canberra.
