Property cycles are real. But do property markets actually rise and fall in the orderly, predictable sequence suggested by a “property clock”? We went back to historical Property Clock readings and compared them with what prices actually did next. Property clocks are everywhere in Australian property commentary. Recovery. Upswing. Peak. Downturn. Stagnation. Then back around again. They are simple, visual and extremely easy to understand. They are also excellent for presentations. But there is a much more important question for a property buyer or investor: Does the Property Clock accurately predict property prices? Property markets do move through cycles, but our review of historical Australian Property Clock readings found that clock positions did not consistently predict the timing or direction of subsequent price movements. The clock appears more useful for describing current market momentum than forecasting the next stage. Do Property Clocks actually predict what happens next? That is a very different question. At Concierge Buyers Advocates, we have always been wary of investment theories that make complicated property markets look deceptively simple. So rather than arguing about the Property Clock in theory, we decided to do something different. We went back to the Property Clock model and tested it. We took several publicly available historical readings of Michael Matusik’s Property Clock, froze them at the date they were published, and then compared those market classifications with what residential property prices actually did afterwards. The result? Property markets unquestionably move through cycles. But the evidence is far less convincing that those cycles behave like a clock. First: what is the Property Clock? The idea is easy to understand. A housing market progresses through different stages: Recovery → Upswing → Peak → Downturn → Stagnation → Recovery Michael Matusik has used his version of the Property Clock for decades and describes it as a simple way of showing the comparative “heat” of different housing markets. Importantly, Matusik himself has also acknowledged that property cycles are not evenly spaced. In his 2021 explanation, he said housing-cycle phases were not equal in duration and that markets could occasionally miss an entire cycle. At the time, he referred to history suggesting roughly seven to eight years between peaks. By May 2024, he described the typical property cycle as approximately four years, adding that he himself had previously used seven years. He also noted that the upswing can be short, a downturn can last longer, stagnation can occupy roughly half the cycle, and some markets may remain stagnant for extended periods. These are sensible qualifications and integral to understanding the purpose of the property clock. But they also expose the fundamental problem with treating a Property Clock as a forecasting tool. If the “hours” can have completely different durations, the clock can stop for years, markets can miss phases and unexpected events can send markets in another direction... Can we use Property Clocks to predict the property market? That is what we wanted to test. How we tested the Property Clock This is not an academic econometric study, and we are not pretending it is. Our approach was deliberately simple. We located published Property Clock readings that were available at the time, rather than reconstructed later with hindsight. We then compared those classifications with subsequent capital-city property-price movements using established datasets including: Australian Bureau of Statistics residential property price data PropTrack Home Price Index data Cotality Home Value Index data. Different datasets measure housing markets slightly differently, so we have not attempted to manufacture a single “accuracy percentage”. Instead, we asked the practical question a buyer or investor would ask: Did the Property Clock position give a useful indication of what happened next? And that produced some interesting results. Test 1: The Property Clock in late 2020 A published Matusik Property Clock in November 2020 placed the major capital cities as follows: Capital city Property Clock position Sydney Downturn Melbourne Downturn Brisbane Start of upswing Adelaide Peak Perth Start of upswing Hobart Peak Darwin Start of upswing Canberra Peak The contemporary report specifically stated that Adelaide, Canberra and Hobart were at the peak, Sydney and Melbourne were in downturn, while Brisbane, Darwin and Perth were at the beginning of an upswing. So what happened next? According to the Australian Bureau of Statistics, residential property prices increased during the following year by: Capital city Clock position Price growth: Dec 2020–Dec 2021 Result Sydney Downturn +26.7% Different Melbourne Downturn +20.0% Different Brisbane Start of upswing +27.8% Correct Adelaide Peak +23.9% Different Perth Start of upswing +15.7% Correct Hobart Peak +29.8% Different Darwin Start of upswing +13.0% Correct Canberra Peak +28.8% Different The weighted average across Australia's eight capital cities rose 23.7% over the year. Some calls worked very well. Brisbane, Perth and Darwin were identified as entering an upswing, and prices subsequently rose strongly. But consider the other side. Sydney and Melbourne were classified as being in a downturn. Sydney then rose 26.7%. Melbourne rose 20%. More strikingly, Adelaide, Hobart and Canberra were classified as being at the peak. Over the next year they rose another: 23.9%, 29.8% and 28.8% respectively. If an investor interpreted “peak” as meaning the market was about to roll over, that would have been an expensive interpretation. Was COVID simply an exceptional event? Absolutely. The pandemic produced emergency interest rates, fiscal stimulus, behavioural changes, HomeBuilder incentives, unusually strong household savings and major changes in housing preferences. It would be unfair to pretend anybody should have perfectly forecast what happened. But that actually reinforces the broader point. Property markets don't operate inside a closed mechanical cycle. They react to outside forces. Interest rates change. Credit availability changes. Government policies change. Migration changes. Employment conditions change. Supply changes. Tax settings change. Investor sentiment changes. And occasionally, something as extreme as a pandemic arrives. The market doesn't check where the hand is sitting on a clock before responding. Test 2: April 2023 This is probably the most interesting historical test. In April 2023, Matusik's published detached-housing Property Clock classified: Capital city Clock position Sydney Downturn Melbourne Downturn Brisbane Downturn Adelaide Downturn Perth Upswing Canberra Downturn Hobart Downturn Darwin Peak Only Perth was classified as being in an upswing among the capital cities. Now fast-forward approximately 12 months. By March 2024, PropTrack reported: Perth: +18.62% Adelaide: +13.47% Brisbane: +12.90% Sydney: prices had reached a new record high Melbourne: +1.71% Hobart: -1.65% Perth was an excellent call. But Brisbane and Adelaide were both labelled Downturn. Over the following year they rose approximately 13%. Melbourne was also in the Downturn classification and subsequently recorded positive annual growth. Sydney, also labelled Downturn, had recovered strongly enough to reach a fresh record by March 2024. PropTrack described Perth, Adelaide and Brisbane as the strongest capital-city performers over the year, driven by relative affordability, population growth, tight rental markets, limited stock and strong buyer demand. There is another important point here. By May 2023, only weeks after that Property Clock was published, market commentary was already reporting that prices were stabilising or increasing again in Sydney, Melbourne, Brisbane and Adelaide. Sydney rose 1.3% in April alone according to reporting at the time. That suggests an inherent lag. And it is something that affects all property prediction data models. The clock may have accurately described the conditions that had just occurred. But property investors don't make money from correctly identifying yesterday. They need to understand tomorrow. Data analytics systems are usually between 3-6 months behind in reporting what's actually happening on the ground. That's just the nature of the whole data collections, sanitising, remediation processes. The distinction that matters There is a major difference between a: Descriptive indicator and a: Predictive indicator. A descriptive indicator tells us what is happening now, or what has recently happened. For example: listings are falling auction clearance rates are improving sales volumes are increasing properties are selling faster vendor discounts are narrowing prices are rising. Put those variables together and you might call the market an Upswing. That's perfectly reasonable. The information was already contained in the underlying data. Putting those variables onto a picture of a clock does not necessarily create additional predictive information. The danger appears when people make the next leap: We are currently at 8 o'clock, therefore 9 o'clock comes next. That conclusion does not automatically follow. The 2026 market gives us another live example On 19 February 2026, Matusik published an update titled The upswing isn't over. He wrote that most Australian markets, including all eight capital cities, remained in the recovery or upswing phase. His assessment was that higher interest rates would dull the cycle rather than reverse it and that 2026 was likely to produce slower and more uneven gains rather than a uniform housing downturn. Now move forward only seven months. Australia's housing market peaked in March. By September 2026, Cotality's national Home Value Index had fallen for six consecutive months. National dwelling values were 5.2% below their March peak. Every capital city except Darwin fell during September. And 97% of capital-city suburbs recorded price declines over the preceding three months. This isn't a completed 12-month test yet, so it would be wrong to declare the February forecast finally right or wrong. But it demonstrates just how quickly the market can change direction. It is not a fault in the model. It is a fault in how the readers interpret the information. A housing market can move from: “recovery or upswing” to a broad national downturn within months. That isn't how clocks behave. Markets within Markets To add another layer of complexity, there are many sub-markets within a single city. Different property types, suburbs, streets and price points can all behave differently, and often move through their own cycles. The Glen Waverley market behave very differently from the Pakenham market. Houses in Clayton perform differently from apartments in Clayton. Even within the same suburb, different price brackets can move differently. A premium $3 million family home may respond to very different buyer demand, borrowing constraints and market conditions than an $800,000 first-home buyer property. That is another reason why applying a single “Property Clock” to an entire city can be misleading. To Matusik's credit, his framework has evolved In September 2026, Matusik described a more sophisticated approach. The new research examines approximately 30 Australian housing markets using population growth, transaction volumes, house and unit prices, recent price movements, vacancy rates, affordability, listings, buyer activity, construction supply, employment, borrowing conditions and other local factors. He also now distinguishes between a longer housing cycle and a shorter-term Property Clock designed specifically to identify current market momentum. He explicitly says the aim is not “false precision”. We think that's a much better description. And it leads to essentially the same conclusion we reached from the historical testing: The Property Clock makes more sense as a market dashboard than as a forecasting clock. Property cycles are real. Predictable property clocks are something else. None of this means property cycles don't exist. They clearly do. Housing markets go through periods of: rapid growth, slower growth, falling prices, low turnover, recovery, and renewed expansion. But that doesn't mean those phases must occur in a predictable sequence or within a predictable timeframe. Property markets are adaptive systems. They are influenced by millions of buyers, sellers, investors, renters, lenders, developers, governments and businesses. Different cities respond differently. Different suburbs respond differently. And even within one suburb, different property types can behave differently. A family house inside a highly sought-after school zone can perform very differently from a high-density apartment 500 metres away, in the same suburb. Calling both properties “10 o'clock on the Melbourne Property Clock” tells us very little about whether either property is a good investment. A Property Clock can be a useful dashboard. The mistake is assuming the next hour must come next. What is A Better Way to Analyse a Property Market? Instead of asking: “What time is it on the Property Clock?” we would rather ask: What is happening to listings? Is stock rising faster than buyer demand? What is happening to transaction volumes? Are buyers actually transacting or merely browsing? What is happening to credit? Borrowing capacity can move markets surprisingly quickly. What is happening to affordability? A market can't indefinitely outrun the incomes of the people expected to buy into it. What is happening to population and household formation? Population growth matters, but only when matched with purchasing capacity and housing demand. What is being built? Existing dwelling supply, new construction, apartments, land releases and development feasibility all matter. What are rents and vacancy rates doing? These affect investor demand and relative housing affordability. What is happening to employment? Strong, diversified employment creates sustainable housing demand. What are governments changing? Taxes, incentives, planning rules, investor regulation and migration policies can materially alter behaviour. And most importantly: what exactly is being sold in the reporting period? This is the part generic market models often miss. You don't buy “Melbourne”. You don't buy “Brisbane”. You don't even really buy “Glen Waverley”. You buy a particular property, on a particular street, on a particular block of land, at a particular price. Its future performance depends on far more than where somebody has positioned a city on a clock. So, does the Property Clock work? Our answer is: Yes. It is a simple way of explaining current market conditions. No. We would not rely on it as a property-market predicting timing system. Our historical checks found several examples where the clock described markets as being at a peak or in downturn immediately before substantial price growth. There were also good calls. Perth's 2023 upswing classification was particularly strong. And Matusik correctly anticipated a significant slowing of the Australian housing market heading into 2022. That is exactly why the sensible conclusion isn't: “The Property Clock is wrong.” It is: “Don't mistake an easy-to-understand visual framework for a predictive model.” The underlying research may be useful. The underlying analysis may be very good. But the clock suggests a sense of orderly progression that property markets simply don't possess. Our conclusion Property investment is full of seductive shortcuts. Hotspot lists. Boom suburbs. Top 10 growth locations. Property clocks. Crowd Sourcing in social media. They work because humans like patterns and shortcuts. The Proeprty Clock is particularly compelling because everybody instinctively knows what happens after 8 o'clock. Nine o'clock. Then ten. But property markets does not behave that way A clock whose hours can have different intervals, which can stop for years, skip numbers, miss cycles and occasionally reverse direction isn't really a forecasting clock. If the clock hanging on your wall has variable intervals between the 3,6,9,12 o'clock, stops for a few minutes, skip a few beats and occasionally reverses, will you trust your clock? The Property Clock is a property market dashboard drawn in a circle. And dashboards can be useful. Just don't confuse them with a crystal ball. FAQ - Property Clock What is a property clock? A property clock is a visual representation of a housing market moving through phases such as recovery, upswing, peak, downturn and stagnation. Does the Property Clock predict house prices? Not reliably enough to use by itself. Historical examples show some accurate directional calls and several occasions where markets classified as peak or downturn subsequently recorded strong price growth. Are property cycles real? Yes. Property markets experience periods of rising, falling and stagnant prices. The issue is whether these phases occur in a predictable sequence or timeframe. Historical evidence suggests they do not. What determines property-price growth? Important influences include housing supply, listings, buyer demand, credit availability, interest rates, population growth, household formation, employment, construction, rents, affordability, taxation and government policy. Should investors use a property clock to decide where to buy? It can help communicate current market conditions, but investors should analyse the underlying economic and property-specific factors rather than relying on a clock position alone. Is Melbourne at the same stage of the property cycle everywhere? No. Conditions can vary significantly by suburb, price bracket and property type. A city-wide cycle classification often conceal substantial differences between individual markets. About Concierge Buyers Advocates Concierge Buyers Advocates is an independent Melbourne buyer's advocacy specialising in residential home buying and property investment. We analyse the property, location, market conditions, comparable sales, risks and long-term suitability before recommending a purchase. Sometimes the best property decision isn't knowing what to buy. It's knowing what not to buy. This article is general information only and should not be treated as personal financial or investment advice. Property-market data and classifications are historical and may be revised. Past performance is not a guarantee of future performance. External source links References used in this study: ABS — Residential Property Price Indexes, December 2021 API Magazine — Matusik Property Clock, April 2023 PropTrack Home Price Index — March 2024 API Magazine — Matusik Property Clock explanation, May 2024 Matusik Missive — The upswing isn't over, February 2026 Cotality — September 2026 Home Value Index Matusik Missive — Going Deeper, September 2026

Most buyer advocates love to showcase their successes. The sold sticker, the auction win, the keys, and the happy client. We take pride in those achievements too. That's the glamorous side of the service. But there's another side to buyer advocacy that we believe is just as important, if not more so: the properties we advise our clients NOT to buy. These are some of the toughest times where we had to convince our clients why they have to walk away from their choices. At Concierge Buyers Advocates, our mission isn't simply to find a reason to buy every property we inspect. It’s about identifying the right property, at the right price, for the right buyer and the right purpose. And when something doesn’t stack up? We tell you not to buy. This often lead to disappointment for a client who adores a house. It may mean abandoning something we've already invested time in. Sometimes, it even means driving to an inspection, taking one look, and leaving without even stepping out of the car. Yes, some of the properties we see is that bad. For every successful purchase, we typically screen 100–300 properties, inspect 20–50, and reject around 90%. Good buyer advocacy isn't measured by how quickly we can get you to sign a contract. Sometimes, the smartest property purchase is the one you never make. Real Case Studies: Lessons Learned The ten real case studies that illustrate our approach. 1. The “Exclusive” Off-Market Property That Wasn't Worth the Price We were invited to inspect an off-market property listed for over $1.5 million. It looked stunning, but the surrounding sales didn’t justify the price. Our assessment pegged it closer to $1.3 million, so we advised the agent it was overpriced and chose not to pursue it. Three weeks later, it hit the market with an auction guide of $1.0–$1.1 million. Bidding reached around $1.35 million, but it still passed in. The owner clearly wanted more, and it was eventually withdrawn unsold. “Off-market” can mean opportunity, but it can also indicate someone testing the waters for an enthusiastic buyer willing to overpay. Read the full story → "Off-Market Overpriced Properties" 2. The $900,000 Property That Was Really a $1.26 Million Property A property caught our eye at around $900,000 in the Glen Waverley Secondary College school zone. Our appraisal suggested buyers would likely pay another $300,000–$400,000 above the listed price. We inquired if the vendors would consider an offer near the quoted range. The answer was effectively no, as expected. To save our client time and emotional investment, we recommended walking away. It eventually sold for approximately $1.26 million, aligning with our appraisal. Read the full story → "Time Wasting Underquoted Property" 3. The Building That Disappeared From the Photographs This property appeared excellent online: bright, spacious, and seemingly private. However, during the on-site inspection for an interstate buyer, we discovered a neighboring double-storey development overlooking the living area. Interestingly, that substantial building seemed to have been edited out of the marketing photographs. Privacy was a concern, but trust was the bigger issue. If something so obvious was omitted from the advertising, what else were we not seeing? We told the agent this looked very different from the listing, and gave the $1.3 million property a “Do Not Buy” recommendation. Read the full story → "What You See Is Not What You Get" 4. The Fence That Wasn't Really a Fence Problem During an inspection, we noticed an aging boundary fence leaning away from the house. A subsequent building inspection report from a buyer-preferred inspector described the fencing as generally serviceable for its age. Something about that conclusion didn’t sit right with us, so we returned to investigate. Behind the fence, adjoining council land had eroded significantly, leaving a drop of around 1.5 metres in places. This was no longer just an old fence problem; it potentially involved land stabilization, retaining works, engineering, and the added complexity of dealing with council-owned land. We recommended walking away. Read the full story → "That Sinking Feeling" 5. The Holiday Home Where Nature Was Too Close for Comfort Our client sought something unique: a holiday property offering both a sea change and a tree change. This one ticked most boxes and looked promising enough to inspect. Five minutes after arriving, we were leaving. The property was affected by a Bushfire Management Overlay, which wasn't surprising for the area, but the vegetation was simply too close for this buyer's risk tolerance. We also noticed evidence of recent fire activity nearby. Beautiful property, but the wrong fit for our client. Read the full story → "Holiday Home Too Close for Comfort" 6. The Old House With “Good Bones” That Didn't Our client specifically wanted an older house with good bones. From a distance, this one looked respectable. Up close, however, the external brickwork told a different story: badly deteriorated and missing mortar, likely due to prolonged moisture exposure, weathering, or rising damp. Could it potentially be repaired? Certainly. But our client wanted a long-term home, not an expensive investigation into what was happening behind deteriorating masonry. The right property for a renovator can still be completely wrong for someone wanting to move in and stay. Read the full story → "Just an Older House?" 7. The Beautiful Ensuite With a Very Expensive Clue Most buyers would consider a renovated ensuite an asset. We noticed something less appealing: water on the floor and calcified staining between the tiles, suggesting a leak may have been ongoing for some time. The property was marketed around $1.3–$1.45 million. We believed it was approximately $300,000 overpriced, even before factoring in potentially significant bathroom repairs. We walked away. Two months later, the asking price dropped by a rather interesting amount: approximately $300,000. Read the full story → "Classic Ensuite — With a Not-So-Classic Feature" 8. Melbourne's Leaning Townhouse A slight lean might give a 12th-century Italian landmark character. In a Melbourne townhouse, we’d rather not. Apparent movement, sticky doors, misaligned cabinetry, and other observations raised questions about what might be happening beneath the cosmetic finishes. More importantly, this property was part of a row of eight townhouses, making any serious rectification considerably more complicated. Sometimes the question isn’t “How much can we negotiate off?” It’s “Why are we trying to buy this at all?” We walked away, and it was swiftly sold to the next buyer that same afternoon. Read the full story → "Leaning Townhouse of Melbourne" 9. The Outdoor Kitchen — And What Was Missing This approximately ten-year-old three-bedroom property looked like excellent value. However, during the inspection, we noticed an outdoor kitchen that appeared to have been added later. We loved the concept, but the kitchen itself wasn't the issue. The problem was what we couldn't find: satisfactory evidence of the relevant electrical and plumbing compliance documentation. When we requested them, we were referred back to the vendor-supplied building report — which didn’t answer our question. Our client liked the property, but unresolved uncertainty doesn’t disappear just because the house presents nicely. We recommended they not proceed. Read the full story → "When We Found What's Missing" 10. The 700sqm Development Block That Wasn't Really 700sqm This property looked spectacular on paper: a three-bedroom house on around 700sqm advertised for $650,000, in a suburb where houses could sell for around $1.2 million. Better still, it was a corner block with the house apparently sitting to one side — perfect for our client's proposed subdivision. Something still didn’t add up. So, we drove past during lunch. We arrived, looked at the property, and kept driving. Occupying much of that apparently vacant land was a massive high-voltage transmission tower. For our client's subdivision strategy, a substantial part of the 700sqm was effectively unusable. We passed. Literally. We didn’t even get out of the car. Read the full story → "When a 700sqm Block Isn't Really 700sqm" Why We Tell Clients Not to Buy These ten properties were rejected for various reasons: Some had physical problems. Some carried risks that didn’t suit the buyer. Some were overpriced. One wasn’t realistically available anywhere near the advertised price. One looked rather different from its marketing photographs. One raised questions because important documentation was missing. And one had a transmission tower sitting where our client's subdivision was supposed to go. There are many more reasons why we did not pursue other properties. And they all adhere to our simple principle: Our job is not to manufacture a transaction. Our job is to improve the buyer's decision. Sometimes that means: Buy it. Buy it — but only at the right price. Investigate this before going any further. And sometimes: Don’t buy it. We don’t view walking away as a failure. A property that doesn’t suit your objectives, carries unacceptable risk, or is simply too expensive doesn’t suddenly become a good purchase just because you’ve already spent three weekends looking at it. Buying Properties is Most Dangerous When You Start Falling in Love Property buying becomes particularly dangerous once emotion overtakes investigation. You’ve visited twice. You’ve imagined your furniture inside. You’ve mentally renovated the kitchen. You’ve worked out where the television goes. The children have already chosen bedrooms. You’ve started checking how long it takes to drive to work. Then suddenly, the sales agent tells you someone else is interested, and walking away feels like losing something. Except you don’t own it. This is when the sales agent suddenly feels so "understanding" and "reassuring," and buyers start explaining problems and trying to justify why problems aren’t problems, instead of investigating them. That crack? “Probably nothing.” That price? “Someone else might pay it.” The missing paperwork? “We’ll sort that out later.” The badly leaning townhouse? “Well, maybe they all lean.” Sales agents are trained to tap into your emotions and manipulate you into buying. It is a known fact that sales-agent-turned-buyer-agent still tap into this "skill" to meet their transaction KPIs when they have to. This is precisely when you must have the discipline to be neutral and remove any emotional connections. Something that most buyers cannot do. That’s when you need an independent buyer's advocate. Being a third party in the purchase decision makes it easier for genuine independent buyer advocates to stay detached. The property doesn’t care how emotionally invested you have become. And neither does the repair bill. A Buyer's Advocate Shouldn't Just Find Reasons to Buy Finding reasons to buy is the sales agent's job. Selling agents are employed by the seller. Their job is to sell the property and to tell you why you should buy the house they're selling. Buyer Advocates Role Sit on the Opposite Side of the Transaction When we represent the purchaser, we ask different questions: What is this property actually worth? What isn’t the advertising showing us? What could hurt its future resale value? Does the physical condition concern us? Does the location genuinely suit the strategy? What are we assuming, and what happens if those assumptions are wrong? Are there better properties available for the same money? And perhaps the most important question: Would we still recommend this property if there were absolutely no pressure to buy something today? If the answer is no, we keep looking. Not Every Problem Means “Do Not Buy” This is an important distinction. Finding something wrong with a property doesn’t automatically make it a bad purchase. While it might be right for one buyer, it could fit other buyers like a glove. A house with $100,000 of problems might be terrible value at $1.4 million, but an outstanding opportunity at $950,000. A weatherboard requiring restumping could be a completely wrong choice for a first home buyer wanting something move-in ready, but ideal for an experienced renovator, or someone after a knock-down-rebuild property. At the right price, of course. A property surrounded by bush might exceed one family's risk tolerance while being exactly what another buyer wants. An ugly house on exceptional land could be a poor home and a fantastic development site. The question isn’t simply: “Is something wrong with this property?” It is: “Is this the right property, at the right price, for this particular buyer?” Those are very different questions. Property Due Diligence Is More Than a Building Inspection A building and pest inspection can be extremely important. So can legal advice. But neither replaces the broader assessment of the property as an asset, in that location for our client's goals. A building inspector isn’t there to tell you you're paying $300,000 too much. Your conveyancer isn’t standing in the living room assessing whether the neighboring development has destroyed the property's privacy. An online valuation app doesn’t know that the advertised 700sqm development opportunity has a transmission tower sitting in the middle of the supposedly usable land. And a beautifully presented listing won’t necessarily tell you why a fence is leaning. Different professionals have the knowledge and experience to answer different questions. Good property due diligence puts those answers together. For a Melbourne property purchase, that can include analysing: Comparable sales and fair market value Street and neighbourhood quality Land size, shape, and usability Planning controls and overlays Easements and title restrictions Building condition Structural movement Renovations and additions Electrical and plumbing documentation Owners corporation matters Neighbouring properties and development Bushfire and flooding considerations Future resale appeal Rental and investment fundamentals Whether the property genuinely suits the buyer's strategy Because buying the wrong property cheaply doesn’t necessarily make it a good deal. It just makes it a cheaper mistake. Frequently Asked Questions Why would a buyer's advocate tell a client not to buy? Because buyer advocacy should be about finding the right property rather than simply completing a transaction. We may recommend walking away because of price, physical condition, location, planning issues, resale concerns, unacceptable risk, or because the property simply doesn't suit the client's objectives. Does a building defect automatically mean a property should be rejected? No. The seriousness of the defect needs to be considered against the purchase price, likely repair costs, the buyer's objectives, and their appetite for risk. The same property can be unsuitable for one buyer and an excellent opportunity for another. Can problems be identified before paying for a formal building inspection? Sometimes. An experienced property assessment may uncover warning signs that justify further investigation — or make the property unsuitable before additional money is spent. However, a buyer's advocate inspection does not replace an appropriate building, pest, engineering, legal, or other specialist assessment where one is required. Why is an independent property appraisal important? Because the advertised price is part of the selling campaign. It is not independent advice about what the property is worth to you. Comparable sales, location, condition, land, current market conditions, and buyer demand should all be considered before deciding what to pay. What is one of the biggest mistakes property buyers make? Deciding they want to buy the property before finishing the investigation. Once buyers become emotionally committed, warning signs can quickly become things to rationalise rather than things to investigate. The Property You Don't Buy Can Save You More Than the One You Do We love finding exceptional properties for our clients and we love negotiating them well. Yes, handing over the keys is considerably more exciting than saying, “Next.” But successful buyer advocacy isn't measured by how many contracts we convince our clients to sign. For the buyers' agents at Concierge Buyers Advocates, it is measured by the quality of the decisions we help them make. Sometimes our value comes from finding the property nobody else noticed. Sometimes it comes from negotiating tens or hundreds of thousands off the asking price. Sometimes it comes from paying a bit more than the next buyer. Sometimes it comes from spotting the problem everybody else walked past. And sometimes our most valuable advice consists of three words: Do Not Buy Then we go and find something better. Because there will always be another property. But there isn't always an easy way to undo a bad one.

To win a property auction in Melbourne in 2026: get finance ready, complete contract/building checks, set your price limits, and control with confident, clear bids. There’s no cooling-off at auctions in Victoria, so be 100% prepared. If property passes-in, be prepared and ready to negotiate against a team of senior negotiators/agents. If bids exceed your budget, be prepared to walk away immediately, to avoid emotional overpaying. Yes, leave the auction. Do not fall into the trap of "wanting to know where the auction will end". Most bidders got sucked back into the auction to bid more, effectively over-extending their budget. Some bidders believe body language is important, but from experience, that is just a beginners way of staying relevant. Body language does not matter, as our buyers advocates will explain why. We will share their auction winning strategy, expose some auction myths, reveal the latest tricks bidders and agents use at auction campaigns and during auctions and how to counter them. But this is just the theory and the preparations needed to win the auction. This article will explain what each of these above steps means and how you do it correctly. In the Melbourne property market, it is common to see properties being listed for "Auction". Some say it is a "Melbourne thing". With almost every good property listed for "Auction", Melbourne buyers have no choice but to be prepared to bid at these property auctions. So, it begs these questions.. What do you need to know at auctions? How do you bid at auctions? What do you need to prepare before and during auctions? What strategies should you use at auctions? How do you win at the property auction? Based in Melbourne, our buyers advocates attend and bid at over a hundred auctions every year for our buyer clients. On a busy weekend, each agent could be bidding at between 3 to 5 auctions a day. We've seen and studied different strategies being used, all types of games and distractions, tactics used by bidders, agents and auctioneers to spice up the emotions at auctions. Auction techniques and tactics had evolved in recent years and we've seen some rather creative strategies used by the auctioneer, sales agents and bidders during auctions recently. So, we've released this new guide for 2026/2027, to help property buyers beat the competition and grab the property you want at auctions. What is An Auction? An auction is a public sale where a seller offers the property for sale and prospective buyers compete by placing bids, with the highest bidder winning and securing the property at the fall of the auctioneer's hammer. Auctions are facilitated by licenced Auctioneers, and can occur in-person or online and are governed by specific rules and a set date and time. The seller, with consultation with the sales agent, sets a confidential reserve price, and the property is sold to the highest bidder once then bidding reaches the reserve price and the auction declared it "SOLD". What Do You Need to Know About Auctions? Auctions are emotionally charged, tension filled 20-30 mins that ultimately determines who buys the property. At times, the bids may be slow, with long delays between bids, while at times, the bidding can be fast, in large increments and with split seconds counter-biddings. The pace is usually facilitated by the Auctioneer, and a few strong buyers advocates and seasoned bidders at the auction. It is important to know that, in almost all states in Australia, properties bought at auctions are unconditional. This is especially true in Melbourne and Victoria. There are no cooling off periods, and there is no walking away, if you win the auction. Bidders should also know it is illegal to disrupt an auction. Your bid at the auction, is legally binding. There is no backing out. How to Win Property Auctions? To win at auction, particularly in the competitive Melbourne property markets, requires a combination of preparation, strategic bidding, emotional control and skills. Key strategies include setting a firm budget, understanding the property's real value, and having a bidding strategy that maximises your chances of winning without overpaying. In this article, we'll show you how to win the property at auctions. Good preparations are critical to winning the key to your dream house at the auction, and here's how you do it: How Do You Prepare for Auctions? Step-by-Step Guide Given the high stakes involved at auctions, how do you prepare for the auction? How should you prepare correctly for the auction, and to prevent yourself from some serious, unintended consequences? While some suggests that you need a lot more preparations, there are only 3 important steps you need to prepare: 1. Do Your Due Diligence Doing your due diligence is critical to preventing yourself from buying a property that doesn't meet your needs. Understand what you want from the property, why you want the property and your plans for the property. Our experienced buyers advocates will help buyers understand the local property market. This will help you understand what other buyers will pay for the property. What due diligence do you need to do before the auction? If you are a home buyer intending to live in the property, questions you need to ask yourself include: Do you like the location? Does it have the right amenities? Does it have the right school, transportation, environment you want? If you are an investor and intend to put the property on the rental market, find out: What rent can the property fetch on the rental market? What are the vacancy rates? How long will it take for you to find a tenant? Is the property in the right location for the types of tenants you want? Does the property meet the minimum rental standards in Victoria? If you are a developer and intend to develop the property, ask yourself: Will the site give you the returns you're looking for? What types of properties do buyers want to buy in that location? What is the best use of the land to give you the best returns? Does it have the right zoning, overlays, council plans, features? If you are loaded and just want that property, determine: What price will knock out all other bidders? Will the agent accept an 'irresistible offer' before the auction? 2. Know the Real Property Value Most buyers wrongly believed the price guide in the Statement Of Information (SOI) provided by the sales agent. While the legal purpose of the SOI is to give buyers an indication of the price for the property, sales agents are increasingly using it as a marketing tool and the price range mentioned in it is usually very different from what it will be sold at the auction. How to Price a Property Like a Professional This is the secret no agents want you to know. With experience and good research, this few steps should be relatively easy: Understand what other buyers are willing to pay for the property. Find out what other properties in the area are sold for. If your research shows a very different price from the price guide (SOI), ask the agent why have they given a very different price in the guide. There could be a gold plated toilet in the house. Or a major termite infestation. Or a history of flood and/or water damage. But don't be surprised if the agent simply give you a standard, vague answers like "that's based on what our sales agent think. We cannot predict what buyers are prepared to pay at the auction"... That is just agent speak for... "do your own homework".. A dead give away that the guide are not to be trusted. An experienced independent buyer's advocate who knows the area, location, and buyer demographics, etc, will be able to give you an accurate appraisal before you bid. If they cannot, they are no better than buying on your own. At Concierge Buyers Advocates, we combine our understanding of the area with our data analytics, to produce a Real Market Appraisal for all properties we shortlist. With the exception of a few outliers, we have been able to accurately estimate the selling price of the property. If you need help, our guide to determining the value of a property will give you some ideas. 3. Know Your Budget With the preparations done, setting your budget is the next critical homework you need to do. The above helps you understand what the property market say. This next step helps you set your budget. Budget is critical. Always remember, buying at auction is unconditional. You CANNOT back out, if you win the auction. Make sure you: Know how much you can afford to pay. Know your serviceability. Have sufficient funds for the 10% deposit. Have the appropriate way to pay the required deposit on the day of auction. Always be prepared. Always assume you will win the auction. Our auction bidding service helps you prepare and lets you know what others are likely to pay, and the fair price for the property. With these information, determine what the property is worth to you. Set yourself 2 limits. Limit 1. The price you are willing to pay for the property. Limit 2. The absolute maximum price you are willing to pay for the property. A good test to know if you've set the right Limit is asking yourself "if you lost the property by $100, will you regret walking away". If these two numbers are less than what you believe other buyers are likely to pay at the auction, maybe this is the wrong property for you. You might not even need to turn up at the auction. You can save yourself some time and focus on the next property in your shortlist. Or you can still attend the auction. You might win it for a good price if there are no other bidders. In a hot sellers' market, this scenario is highly unlikely to happen though. We will tell you why later. A Honest Word of Advice ..: Intentionally under-bidding, hoping to grab a bargain is just going to waste your own time, the agents' time and everyone else' time. You are reducing your own credibility and creating a bad impression amongst the agents and buyers in the area. Yes, agents like us do remember faces, and we tend to see the same people underbidding at most auctions in our local area. Intentionally Underbidding at Auctions Hoping to Catch a Good Deal Won't Work Another reason why this won't work is this: All properties sold at auctions have a reserve price. This reserve price is set at what the vendor and sales agent think is fair price for the property. So, even in the unlikely scenario where you're the only bidder, you will still be expected to pay at least around the reserve price anyway. Auctions are not the place to place lowball bids, hoping to pick up good deals. There are other more effective ways to do it. 4. Stick to your budget. With the above preparations done, you are now ready for the auction. On the day of auction, arrive early. In Melbourne, the listing agent would usually have one final open for inspection just before the auction. Turn up, do one last inspection, check-in with the agent and confirm you will be bidding at the auction. Then revisit your budget numbers. Review your target price, and your walk-away price. Only change them if new, material information emerges (eg, building issues resolved, or there are new damages or concerns. You have one last chance to review and revise, if you need to. Do not adjust for nerves or FOMO. You should not have the need to adjust the numbers if you have prepared sufficiently. Experience tells us, solo/DIY bidders often change the budget at this very last minute, and regret it later. It is ok, if you need to change. But It is NOT ok if you change because you want to. If you want to change the limit at this very last minute, experience tells us, you will very likely walk away from the auction with regrets: If you win the auction, you will be wondering if you have overpaid. If you lost the auction, you will be blaming yourself for not spending that extra $100. Stay disciplined to your price limits, or have a Melbourne Buyers Advocates shield you from the emotions and stress and bid for you. Auction Day Bidding Tactics Many have also ask what our preferred auction strategies or bidding styles are. Some common theories advocated by some buyers include: Auction Dos and Don'ts 1. Be Confident (and Be Prepared) Auctions are high-pressure. Even seasoned real estate agents would avoid auctions, if they can. Be prepared for the pressure and emotions during the auction. Practice, practice, practice and be comfortable. Bid with a clear, loud voice. If you're naturally soft-spoken, or you are not confident in public speaking, you can get an assisting sales agent to help you. Remember, the assisting agent is working FOR the vendor, AGAINST you, the buyer. Their role is to stir your emotions so you offer your last dollar. Some commonly used techniques include: "Another $1000 will knock the other bidders out", "Put in a $5000 knock-off bid. This should scare the other bidders." "I know them. They are near their limit. Another $3000 will win it." The auction bidding service at our Buyers Advocacy agency shield buyers from these emotions during the auctions and helps our clients win the auction confidently. We make our role known to the auctioneer and prefer assisting agents stay away som, we can follow our strategy, not the pressure. Our Buyers often do not get the full impact of the stress at auctions, with out representation. 2. Power Dressing Some believed power dressing helps portray a sense of confidence. Having attended and bidded at hundreds of auctions, Louis Vuitton, Gucci, Lamborghini do nothing to help buyers win auctions. Ultimately, the amateur's body language always give themselves away. We've seen buyers winning auctions in shorts and sandals. If anything, being overdressed helps other bidders identify who the rookie is... 3. Body Language (and Poker Face) Body language is by far more important than anything else. But relying solely on body language can and will mislead you too. Heard of "Poker Face"? A Poker Face can be trained. So can the "Nervous Face". We've seen "Poker Faces", or the "Aggressor Faces" lost at auctions. We will tell you why at the end of this guide. Our buyers agents are trained to study the bidders and auctioneer and we adapt our bids, bidding strategy and body language to the situation. Our principal, Rayson studies the person's aura and energy at the auction to determine how the auction will end. 4. Using Big Bid Increments Some say big bid increments will scare the competition and let you create the sense of deep pockets. It is partially true. But this only work against amateur competitors. Only amateur bidders will think twice about beating your bid. Use this strategy with caution. Used at the wrong time, this bidding strategy will backfire badly. We've seen someone put in winning mega bid increment, knocking out all other bidders. Secretly, we believe he overpaid badly for the property. 5. Using Small Bid Increments Small bid increments is another tactic used by most rookie bidders because they fear overpaying. It is also used by professional bidders to extend the auction. Used correctly, it can expose the stealth bidders, and also creates the impression of a bottomless budget, as the bidder seems to be able to find an extra $100 from thin air. It can be used to scare the amateur bidders. What's Changed in 2026? Important Regulation Change: Victoria's Sale by Set Date Rules Changed in October 2026 Victoria introduced new property price-transparency rules from 1 October 2026. For auctions and fixed-date sales held on or after 16 October 2026, the selling agent must publish the vendor's reserve price at least seven days before the scheduled auction or fixed-date sale. The former Statement of Information has also been replaced by a more detailed Property Price Statement. This means buyers now have a lot more pricing data to consider before bidding than they previously did. However, that does not mean Auctions in Victoria have suddenly become transparent. The reserve price tells you the minimum price the vendor is presently prepared to accept. It does not tell you: what competing bidders will offer; how many serious bidders will there be; whether another bidders have deeper pockets; how much above reserve the property will sell for; or what the property is actually worth. The vendor's reserve is not the property's valuation. All bidders need to understand this. It simply sayd the vendors want $X. It does not say the property is worth $X. The Latest Auction Tactic in 2026. Will it work in 2026 and 2027? Last Minute Sniper Bid In recent years, we are seeing a growing number of bidders staying silent through most of the auction and then jump in at the final call, just as the auctioneer reaches “first, second, third…”. We call them the SNIPER bidder. The "sniper" bidder's goal is very much a face saving strategy, rather than a winning strategy. They can quietly walk away if they are priced out early. In a tight Melbourne market, where good homes draw crowds, this tactic lets you observe the room, and conserve energy, provided you are not priced out before you place your bids. The Benefits of Placing Last Minute Auction Bids Your "feel good" factor. You keep your price secret, avoid being dragged into an early bidding war, and a well-timed, confident bid can rattle inexperienced bidders. That said, it’s not a safeguard against overpaying. Professional bidders, such as our buyers advocates, attend auctions, prepared to win and won’t be spooked. Experienced Buyers Advocates like us attend hundreds of auctions every year, and "sniper" bids are just cute, child's play. The real benefit of this tactic is face-saving. You lose quietly, without revealing you've failed to win the auction. Sniper bids let's you walk away quietly, if you're outpriced before placing a single bid. The Risks of Placing Last Minute Auction Bids Risk of mis-timing is high. No one knows you intend to bid, and no auctioneers or assisting agents will prompt you. The hammer can fall before you speak, and if the property is passed in and you weren’t the highest active bidder, you will lose the first right to negotiate. A skilled auctioneer build momentum, encourage competitive bidding, by changing bid increments, or pausing. So there really is no guarantee of a bargain. If you try this, always stand front and centre. Be prepared to make yourself visible, bid loudly and clearly. And, as usual, do your due diligence prior to the attending the auction. Will Last Minute Bid Work? No. As above, we had won in many auctions where sniper bids were used. And no, we aren't the ones using sniper bids. While the last minute nature will surprise amatuer bidders, professional bidders are unfazed by them, and sniper bidding does nothing to help these "sniper bidders" win the auction. If you encounter sniper bidders, stay calm. They are no different to any other bidders. They have their budget, and you have yours. Stay focus, stay calm and bid. They are just another bidder with "feel-good" tactics. The Truth About Auctions: There is No One "Sure-Win" Strategy After bidding at hundreds (if not thousands) of auctions in Melbourne and Australia, one thing is clear: Preparation Wins. Having seen and studied how bidders of all experience levels use their "auction strategies", we can confirm there are no fool-proof or sure-win strategies. As professional auction bidders, we read people. We analyse and profile each bidder, study their bids and we adapt our strategies or adopt a combination of strategies to counter them. We use big increments and small increments, fake a nervous face, disappointed face, etc, to control the auction pace, to test and antagonise other bidders, and, sometimes, to entertain the crowd. Want calm, disciplined execution on the day of auction? Let our Melbourne Buyers Advocates work with you, set the ceiling, run the auction strategy, and bid for you, so you do not overpay or walk away wondering “what if.” If you Win the Auction, Paying the Deposit in Melbourne So, you've won the auction. It is now time to pay the deposit. In Melbourne, the common methods to pay the deposit at auctions are: Bank transfers - A straight forward transfer initiated by the winner, into the real estate agent's trust account. DEFT deduction - A scheduled debit initiated by the real estate agent from your nominated bank account. Cash in Suitcases - Yes, you can still pay with cold hard cash if you prefer. However, this is not something we would recommend for obvious safety reasons. What if the Property is Passed in at the Auction? Will an auction always end with a winner? No. It does not. If the highest bid during the auction is still less than the reserve price, the auction is unsuccessful. This is called "passed in" at auctions, and the property is unsold. If you are still interested in the property, this article will tell you how to buy properties passed in at auctions. What if Your Finance Fell Through for the Property You Bought at Auction? Your finance can and do fall through for various reasons: The property is in a location or of a wrong type, blacklisted by the bank/lender. You have seriously overpaid. You cannot afford the property If this happens, you are in deep trouble. Because properties bought at auctions are unconditional, you will, unfortunately, be legally required to complete the purchase and buy the purchase. The vendor can legally force you to buy it, or they can seek compensation for any loss they may have occurred if you cannot settle. This is why discipline and getting the auction processes right is important, to prevent yourself from overpaying. Auctions are Just Games. Here's why. At the end of the day, auctions are just games. Over 90% of the auctions end within our appraised price range of the property. That means, if buyers do not want to overspend, you should definitely do your homework and prepare for auctions. It doesn't matter what auction bidding strategies or styles you use, price, budget and the other competing bidders ARE still the determining factors. Why do Real Estate Agents Prefer Auctions in Melbourne? In Melbourne, Real estate sales agents prefer auctions, as it is easy to sell properties through auctions. Property sold are unconditional, and there's no cooling off period. So, there's no risk that the buyer will walk away after their offer is accepted, and leaving the property unsold. It is a straightforward process for the real estate agents. They just want to sell the property unconditionally once and for all, get their commissions, and move on. No to and fro with the vendors and buyers negotiating prices, etc Do Buyers Agents Prefer to Buy At Auctions? It depends on our assessment of the property and its popularity. Depending on a few factors, there are situations where we prefer auctions, and also situations where we prefer private sale. Winning Auctions in Melbourne FAQ Is there a cooling off period after an auction in Victoria? No; cooling off period does not apply in auctions. Be 100% ready before bidding. How much deposit do I pay at a Melbourne auction? Usually 10%, sometimes negotiable by prior arrangement. What happens if a property is passed in at auction? The highest bidder will have first rights to negotiate with vendor after the auction. Can a buyer’s agent bid for me in Melbourne? Yes; they can strategise, bid and negotiate post-auction. Buyers Should Do Their Homework and Prepare for Auctions Every buyer must prepare for the auctions. If you are not prepared, you preparing to overpay or lose the bid. You only have that one chance to try to buy the dream property, and your offer is unconditional. Having the property inspection and sale contract reviewed is the bare basic. We explain why a building inspection and contract review is critical in this article. Doing the right homework and due diligence with the right data; and having a good understanding of the market, the property and who the potential buyers are will help you either put in your winning bid or walk away satisfied, knowing you have done your best. After all, you probably do not want to beat an over-bidder, at an auction. Need a Professional Auction Bidder for the Auction? If you are attending an upcoming auction, but you feel you do not have the confidence to bid or do not know what you need and how you should prepare for the auction, it might be worthwhile engaging our auction bidding service. Our professional Auction Bidding Service is popular with hands-on property buyers who are either unable to bid or not confident to bid at auctions. We provide auction biddings for up to 3 auctions, helps our clients prepare for the auction, and shields our clients from the pressure and emotions during the auction. Last but not least, good luck with the auction. Get in touch if you want to learn more. More home and investment property buying news and tips here.

Singaporeans have long sought opportunities to diversify their investment portfolios beyond local shores, and Australia, with its robust economy, stable property market, and appealing lifestyle, remains an attractive destination. Among Australian cities, Melbourne stands out as a prime investment hotspot due to its dynamic property market, relatively low property prices, world-class amenities, and growing population. However, investing in overseas properties is not without challenges. Without local knowledge and proper guidance, investors risk making costly mistakes. Here’s why Singaporeans investing in Melbourne should be on your radar—and how it compares to Singapore’s property market. Melbourne vs. Singapore: A Property Investment Comparison Aspect Melbourne Singapore Property Prices Relatively more affordable for larger properties: S$600k for a 300sqm freehold landed house High property prices due to land scarcity: S$2 mil for a 200sqm 99-year landed house Rental Yields Higher rental yields (4%–6%) in some suburbs Low rental yields (3%–4%) Capital Gains Potential Strong growth potential, especially in emerging suburbs. Average growth of 7% annually, ie, house prices typically double every 7-10 years. Limited potential due to mature market. 4% growth (source: HDB) Government Restrictions Lower stamp duties for overseas investors compared to Singapore Additional Buyer’s Stamp Duty (ABSD) for foreigners Market Accessibility Easier entry with diverse property and mortgage options Competitive market with high entry barriers Tenant Demand Strong demand, particularly in high-growth suburbs Stable but competitive Regulatory Environment Open market with fewer restrictions for foreign buyers Strict regulations on foreign ownership Key Takeaway: While Singapore is a stable market, its high entry costs and lower rental yields can limit returns. Investing in Melbourne properties offers a balance of affordability, strong rental demand, and significant capital growth potential, making it an attractive alternative for Singaporean property investors. What properties can Singaporeans Buy in Melbourne and Australia? Now, let's have a look at what types of properties Singaporeans can buy in Melbourne. If anyone says you can only buy apartments and townhouses (aka terrace house in Singaporean speak), you've been conned. That person is likely someone who is or associated with a sales agent selling the tons of apartments and townhouses which they cannot sell in Australia. Singapore investors can buy a lot more than apartments and townhouses in Melbourne. Singaporean investors can buy standalone houses (aka bungalow in Singaporean speak), the real bungalows / mansions, waterfront house, apartments, penthouses, etc. Pretty much any type of residential properties. There are however, some restrictions, and if you know where to find the good ones, with huge growth and yield potentials, you can reap mega rewards from your investment in Australia/Melbourne. Investing in Properties in Melbourne vs. Singapore Let's look at some examples of what investing in Melbourne looks like, compared to investing in Singapore 1. City Centre Condo - Melbourne Singapore: A 2-bedroom 99-year leasehold apartment in Orchard Road costs approximately SGD 3 million. Rental yields average 2.5%–3%. Melbourne: A 2-bedroom freehold apartment in the CBD (Central Business District) costs around AUD 800,000 (SGD 700,000). Rental yields are 4%–5%, with strong demand from students and professionals. 2. Suburban Home - Melbourne Singapore: A freehold landed property with 200 sqm land in Bukit Timah costs upwards of SGD 8 million, making it inaccessible to most investors. Melbourne: A 4-bedroom freehold house with 700-800 sqm land in a high-growth suburb like Ringwood or Box Hill costs AUD 1.5 million (SGD 1.3 million), offering 3 times larger land, space and a better chance for capital appreciation. Or if you look at outer suburbs, a 4 bedroom freehold house with 300sqm land can be bought for around AUD 800,000 (SGD 700,000). IE, for $8 million, you can buy 10. 3. Investment Units for Rent - Melbourne Singapore: A compact studio unit in Toa Payoh costs around SGD 1,000,000 and yields about 3-4%. Melbourne: A 1-bedroom unit in an inner-city suburb like Brunswick or Richmond costs AUD 500,000 (SGD 430,000), with rental yields of 4.5%–6%. Why Singaporeans Are Investing in Melbourne Properties As shown above, many Singaporeans realised they can make their money stretch further when they invest in Melbourne. Take this example, with a budget of SGD$3million, they can buy up to three or more 2 bedroom freehold apartments in Melbourne CBD, instead of just one 2 bedroom 99-year leasehold apartment in Orchard Road. Talk about not putting the eggs in one basket? They get 3 streams of income with investment properties in Melbourne, vs 1 in Singapore. Now, let's see why many Singaporeans are investing in major Australian cities like Melbourne and Sydney. Strong Property Market Growth Melbourne’s thriving real estate market is driven by population growth, infrastructure development, and a diverse economy. For Singaporean investors looking to invest in Melbourne, this means steady capital appreciation and secure investments. Higher Rental Yields Compared to Singapore, Melbourne properties offer higher rental yields in many suburbs, providing attractive returns for investors seeking steady rental income. Favorable Exchange Rates The strength of the Singapore dollar against the Australian dollar provides excellent purchasing power for Singaporeans investing in Melbourne real estate. Lifestyle Appeal Ranked as one of the most liveable cities globally, Melbourne’s quality of life attracts tenants, ensuring high rental demand and making it a reliable long-term investment. All-time Low SGD-AUD Exchange Rate With the Australian dollar at an all -time low. investment properties here in Melbourne has suddenly become a lot more affordable. But, as we all know, exchange rate are cyclical. The AUD is overdue for a boom. Get in now and enjoy the benefit of rising AUD. Risks of Buying Properties Through Local Sales Agents in Singapore Many Singaporeans choose to work with local property sales agents who market Australian properties. While this approach may seem convenient, it comes with significant risks: Lack of Independent Representation Local agents often represent the developers or sellers rather than the buyer’s interests. Their primary goal is to sell the property at the highest possible price, which may not align with your investment goals. Limited Knowledge of Melbourne's Local Market Local sales agents may lack in-depth understanding of Melbourne’s property market, including high-growth suburbs, market trends, and upcoming risks. You might end up investing in a property in an oversaturated area with limited growth potential. Overpriced Developments Properties marketed through overseas sales agents are often new developments with high developer margins. As a result, you may pay a premium price compared to established properties in better-performing locations. Inadequate Due Diligence Overseas agents may not provide detailed insights on critical aspects like property quality, legal compliance, and rental demand, increasing the risk of purchasing a subpar investment. Circumvent These Risks by Working with a Local Australian pro-Buyer Investment Agency Investing from Singapore used to be "scary" thing. Or, at least, this is what the local sales agencies want you to know, just so you are buying Australian properties through them. But the reality is, it is not that scary. How do you invest in Melbourne Properties from Singapore? How do you find where the good investment properties are in Melbourne? Unlike Singapore, the Australian and Melbourne property market is a much more matured real estate market. In the Melbourne real estate market, there are unique specialist real estate advisors known as Buyers Advocates. Buyers Advocates are licenced, policed-checked real estate advisors and investment consultants with a difference. Who are Buyers Advocates? Buyers Advocates are real estate agents with years of experience in real estate. Many are well versed in the local real estate market and are skilled in property selection, inspection, and negotiation. However, unlike sales agent who look after the interests of sellers and developers, Buyers Advocates look after the interests of buyers and property investors. Their role is to help buyers invest in the right property at the right location, and buy them at the right price. Not an Overseas Price with fat commissions built into the selling price. Instead of buying from their local sales offices in Singapore, smarter Singaporean investors are turning the odds against these sales agents by engaging local buyers advocates in Australia to help them avoid the pitfalls of "buying from the sales guy". Melbourne based Concierge Buyers Advocates was founded by a Singaporean who migrated to Australia over 20 years ago. We only represent buyers interests exclusively. Here’s how we can help property investors from Singapore: Unbiased Advice Unlike local sales agents who prioritize the seller, we work solely for you, the buyer. Our goal is to secure the best property at the right price based on your investment needs. Comprehensive Market Knowledge As Melbourne-based property investment experts, our fully licensed and police-checked advisors bring an unmatched understanding of the local market. We specialize in helping Singaporean investors identify locations, suburbs and property types with strong growth potential, high rental demand, and long-term value. Our recommendations are grounded in facts and enhanced by cutting-edge AI data analytics, delivering insights beyond surface-level trends. Every recommendation from the analytics is validated through on-the-ground inspections and local expertise—something your sales agents in Singapore simply can't offer. Many of them have never even set foot in Australia, let alone gained the deep market knowledge needed to guide your investment confidently. Tailored Stress-free Services for Overseas Buyers We offer virtual consultations, video property tours, and end-to-end support to ensure a smooth investment process for Singaporean property buyers investing in Melbourne. From property search and inspections to negotiations and due diligence, we handle everything, so you can focus on your career and goals. Access to a Wider Range of Properties We provide access to off-market and established properties that are not marketed through Singapore sales agents, giving you better options beyond developer-marketed projects. Freehold bungalows, houses, townhouses, terrace houses, apartments, penthouse, etc. Yes, freehold. Own a piece of Australia forever. Independent Representation Unlike selling agents, we represent your interests as a buyer, ensuring you get the best property at the best location, and at the best price. The real deal. We don't recommend properties to you, just because we had to sell them. We've nothing to sell. Mitigate Risks with Thorough Due Diligence We conduct detailed inspections, evaluate market trends, and perform financial analysis to ensure you invest in a property that aligns with your goals. Our recommendations are backed by AI data analytics, updated every week. Negotiation Expertise Our team ensures you never overpay by negotiating directly with sellers or their agents, leveraging our local market insights to secure the best deal. On average, our buyers save between $30k to $500k, in one instance. Singapore or Melbourne? Your Investment Decision Simplified While Singapore offers stability, its high entry costs and lower yields limit growth opportunities. For Singaporeans investing in Melbourne, Melbourne presents a chance to achieve higher rental yields, capital appreciation, and affordable entry points. At Concierge Buyers Advocates, we’re committed to making your Melbourne property investment a success. Let us help you navigate the Melbourne property market with ease, so you can invest with confidence. Contact us today to start your Melbourne property investment journey. How to Contact Your Personal Melbourne Investment Advisor Visit our website or call us to discuss your investment goals and learn how we can help you secure the perfect Melbourne property.

外国人是否可以在澳大利亚买房 答案是肯定的！在澳大利亚，外国人可以购买房产，但需遵循一些限制和规定。让我们来看看需要注意的几个关键点。 飞居民可以在澳大利亚买房吗？ 简而言之，外国人可以在澳大利亚购买房产，但需遵守特定规定。外国人只能购买新建或计划中的物业，或在某些情况下购买未售出的现房。 澳大利亚的房产类型 从2025-2029，外国买家通常限制购买以下类型的物业： 新建住宅：外国买家可以购买公寓、别墅等新建物业。 正在建设的物业：可以购买正在建设中的物业。 特殊情况下的现房：在某些情况下，可以购买未售出的现房。 外国投资审查委员会（FIRB） 外国买家在购买澳大利亚房产之前，必须获得外国投资审查委员会（FIRB）的批准。FIRB会评估购买是否符合澳大利亚的利益。 申请FIRB的费用 申请费根据物业的价格而有所不同： 100万澳元以下的物业，申请费为5000澳元。 100万至200万澳元之间的物业，申请费为10600澳元。 税务需知 外国人在澳大利亚购买房产需要了解相关税务规定。租金收入需要申报并缴纳澳大利亚所得税，出售房产的盈利也需要缴纳资本利得税。 购买程序 确定物业类型：新建物业或未售出的现房。 申请FIRB批准。 了解税务影响和其他法律义务。 寻找可靠的房地产中介或买家代理协助购买过程。 寻找买家代理的帮助 专业买家代理可以为外国买家提供全面的支持和服务，确保购买过程顺利无忧。例如，Concierge Buyers Advocates在墨尔本为客户提供专业的买房服务，帮助他们找到最适合的投资物业。 结论 外国人可以在澳大利亚购买房产，但需要遵守特定规定，并获得相关批准。了解并遵守这些规定，将有助于确保您的购房过程顺利无忧。如果您对在墨尔本购买房产感兴趣，请联系我们以获取更多信息和专业建议。 For more detailed information, you can visit the original blog post on the Concierge Buyers Advocates website: Can Foreigners Buy Property in Melbourne, Australia?

Winning a "Sell by Set Date" Sales Updated 5 Oct 2026. As the Melbourne property market cools down, agents tactic change and "Sell by Set Date" sales are becoming more common now. A "Sell by Set Date" is also often advertised as "Sale by Set Date", "Sell by Set Date", "Set Date Sale" or similar. But things are different now, especially in Victoria. Important: Victoria's Sale by Set Date Rules Changed in October 2026 Victoria introduced new property price-transparency rules from 1 October 2026. For auctions and fixed-date sales held on or after 16 October 2026, the selling agent must publish the vendor's reserve price at least seven days before the scheduled auction or fixed-date sale. The former Statement of Information has also been replaced by a more detailed Property Price Statement. That means buyers now have considerably more pricing information to consider before making an offer than they previously did. However, that does not mean Sale by Set Date negotiations have suddenly become transparent. The reserve price tells you the minimum price the vendor is presently prepared to accept. It does not tell you: what competing buyers will offer; how many serious buyers remain; whether another buyer has stronger conditions; how much above reserve the property may sell for; or what the property is actually worth. The vendor's reserve is not a valuation. If you've been following our blog, you'll already be familiar with auctions and Best and Final Offer campaigns. But do you know what a "Sell by Set Date" is? What does a "Sale by Set Date" mean? How do you manage a "Sale by Set Date"? What do you need to know when it is a "Sale by Set Date"? Think of a "Sell by Set Date" campaign as a form of Closed Auction. What does "Sell by Set Date" mean? Sale by Set Date: Quick Answer "Sale by Set Date" is a property sales process where buyers have to submit their offers by a specific deadline. Psychologically, this creates urgency, encouraging maximum competition and a timely sale for the vendor. This method is a type of private auction or private sale method that combines characteristics of a tender and auction, offering multiple opportunities for buyers to make blind bids/offers and for the seller to achieve their best possible price within a set timeframe. The sales campaign will usually end on a certain date. Or does it? What happens if there are no offers by a certain date? We'll see what happens. This "Sell by Set Date" is very similar to Private Sale. As with private sales, some agents may call this method of sale by any of these names: Sale by negotiation; or Expression of interest (EOI); or Sale by Set Date; or Sale by Set Date, Offers accepted prior; or Fixed Date Sale; or Set Date Sale; or A single price $x00,000; or A price range $x00,000-$y00,000; or simply Private Sale With this in mind, a "Sale by Set Date" campaign should be managed like a private sale or a sale by negotiation initially. There is often little difference between these methods of selling during the early stages of a campaign. You will also need to understand strategies to manage a closed auction process or "Best and Final Offer", where interested parties submit their offers without knowing what others are offering, and usually within a short notice. If it sounds complicated, it is. It is one of the sales techniques in the agent's bag of tricks, and they do cause panic and anxiety and to force buyers to think with their hearts and make irrational offers for the property. Why are "Sell by Set Date" Campaigns Used in 2026? "Sell by Set Date", just like "Private Sale" is often used in a quieter or buyer's market where where the agent believes there may not be enough buyer interest to justify an auction (or any other method of sale). The agent would not risk listing the property for auction only to find no one turning up to place a bid. They risk the auction passing in, and creating a bad reputation for the property and agent. How do "Sell by Set Date" Sales Work in 2026? There are no single standard process for this sales method, so there are no right or wrong ways to run the Sell by Set Date campaign. But this is generally what happens: The vendor and Agent decides to list the property for sale. They chose the "Sell by Set Date" method, and nominate a closing date and time when the property are supposed to be sold. Agent launches the advertisement and sales campaign. Agent informs all prospective buyers that this property must be sold by a certain date. Agent may also state that offers are accepted prior to that date, to create a sense of urgency. When an offer is received, agent would usually contact all other interested parties that an offer has been received and they are to submit their "Best and Final Offer" by a certain date and time. This deadline (can be as short as 4 hours) by when all written offers must be submitted. Agent presents the qualified offers to the vendor. What happens next, after presenting the offers, is where it gets interesting and can vary between campaigns, agents or vendors. From this point on the "Sell by Set Date" campaign essentially becomes a "Best and Final Offer" (BAFO) or Closed Auction process. As with the BAFO, this is also where the whole "Sell by Set Date" process creates the most anxiety. The selection process may take one of the following paths: Vendor may simply select the highest offer and conclude the sales campaign Vendor may choose the best 2 to 3 offers if they are very similar, and start a closed negotiation or bidding process with the buyers Agent may choose to give the first bidder, a second chance, if their offer is not where the vendor wants it to be Vendor may choose not to select any offers, if they believe none of the offers are good enough. The campaign can then continue to its end date and evolve into a different campaign or an open auction. Problems with "Sell by Set Date" Sales At first glance, the Sell by Set Date process may seem docile. It may not seem urgent to an inexperienced buyer, as, after all, it seems to imply that there is no urgency until that "Set Date". As with a typical property purchase, property auction, Best and Final Offers, this Sell by Set Date sales process should be treated with care. Just like the Best and Final Offer. The deadline is designed to create urgency, and that urgency can cause inexperienced buyers to make emotional decisions. The fear of missing out (FOMO) will usually lead buyers to make hasty, heart-driven decisions, often leading to overpaying. Agents are fully aware of this psychological trigger, and inexperienced buyers can easily fall into this trap. This is where professional help from an experienced, professional buyers' advocates can become invaluable. The assistance of experienced Buyers Advocates, can ensure you receive the appropriate advice for the property and avoid overpaying. Why the "Sell by Set Date" Method can Catch You Off Guard. False Sense of Calm: The process appear passive, unpressured, often misleading inexperienced buyers into thinking they have more time than they actually do. Sudden Urgency: Unprepared buyers are often caught off-guard when they are suddenly being told that an offer has been received, sparking panic and rushed decision-making. Lack of Transparency: The process is often unclear, lacks standards, managed in secrecy, leaving buyers in the dark about where they stand, compared to other interested parties. Poor Communications: Buyers are frequently left out of the loop, particularly if they have not made their interest known to the sales agent or if the agent had received an offer which they think is good enough. Not all buyers will necessarily be informed: If you have not clearly registered your interest with the selling agent, you may not be contacted when the campaign moves into its final stage. Or if the agents believe they have sufficient interested buyers, they may stop informing other less promising buyers, due to time constraints. In short, the "Sell by Set Date" method may appear to be straightforward, but its lack of transparency and communication can create hidden stress and pressure, especially for those who aren't prepared. This is why partnering with a knowledgeable Buyers Advocate is crucial to navigating these complex sales methods and ensuring a fair and informed buying process. How do you Prepare for a "Sell by Set Date"? Preparing to win a "Sell by Set Date is similar to preparing for an Open or Public Auction. The tips given in our "How to win at Auctions" [link] will apply to the Sell by Set Date situation as well. Generally, to perform your best in the "Sell by Set Date" process, you need to: 1. Do your due diligence. Doing your due diligence is critical to preventing yourself from buying a property that doesn't suit you. Understand what you want from the property, why you want the property and your plans for the property. Knowing the real market situation will help you understand the market demand for that property type, in that particular street and in that particular pocket. Remember, every property is different, even if they are next to each other. 2. Know the real price of the property Many buyers place too much trust in the price guidance in the Property Price Statement (previously called Statement Of Information, SOI) provided by the sales agent. While the purpose of the Property Price Statement aims to give buyers an indication of the price for the property, it usually does not mean the auction will end within the price range indicated in the guide. You should always do your own homework. Do Not Rely Solely on the Property Price Statement The new Property Price Statement is an improvement on the old Statement of Information. It gives buyers more information about the subject property and the comparable sales being used. This is useful, but it still shouldn't replace your own research. Comparable sales need interpretation. Under the previous Statement of Information, agents have been very creative in their selection of "comparable" properties. We will not be surprised if this practice gets carried over. A house two streets away might look similar online but sit on 150 square metres more land. Another may have been renovated to a substantially higher standard. One might sit inside a desirable school zone while the subject property sits 20 metres outside it. A supposedly comparable property might back onto a railway line. Or there could be a gold-plated toilets hidden around the house. Or a few embedded gold bars in the bedroom. Or a subterranean termite infestation. Or a history of flood and/or water damage. The point is that apparently similar properties can have very different values. There can be perfectly valid reasons for two apparently similar houses to sell hundreds of thousands of dollars apart. Your job is not to find three nearby sales. Your job is to understand why they sold for what they did. A good independent buyer's advocate who understands the suburb, street, buyer demand, available supply, demographics, property characteristics should be able to give you a much more realistic assessment of auction price range. 3. Determine the Right Offer Price for the Property This is where you have to decide what price to offer for the property. No one can do this for you. Different agents, agencies and locations can produce very different campaigns. But as part of our service, our buyer's agents help buyers establish: Know how much you can afford to pay. Know your serviceability. Ensure you have sufficient funds for the initial deposit. Ensure you have the appropriate ways to pay the required deposit. Determine the absolute best price you are willing to pay for the property. A good test to know if you've set the right price is this: ask yourself "if another buyer purchased it for $100 more, would you genuinely regret walking away". If you've been following this blog, you will know what happens next, gets murky. While the agent may indicate that you only have that "one chance to make the best and final offer", in Victoria, the agents or the vendors might choose to further negotiate or give everyone "one final chance to review your offer". They may or may not give you a call explaining that you have "one final chance to improve your offer". This usually causes buyers to panic and second guess their offer. You might decide to improve the offer, or if you believe you have already submitted your best-best-best offer, choose not to improve the offer. Now, always bear in mind, you do not know who the other bidders are, and what bids they have submitted. Your bid might already be the highest, and the vendor and selling agent might just want to try their luck to extract a few more dollars from you. There might not even be any other bidders, and you are bidding against yourself. Interesting but sneaky, eh? If you have done your preparations well, you should be able to confidently know what the likely scenario is. Your offer may already be the strongest, but you generally won't know that. If the agent asks whether you can improve it, pause before automatically increasing your price. Ask yourself whether anything has actually changed in your assessment of the property's value. This is potentially where a neutral third party advisors such as buyers agents can be useful. Our buyers advocates can usually keep you grounded, advise based on experience, market knowledge and the information available about the campaign. Frequently Asked Question - Sale by Set Date How Much Should You Offer? There is no magic formula for this. The right price is not Property Price Statement + $X or -$Y. Before speaking seriously about price with the selling agent, do you homework. The sales agent will almost certainly ask for your price. Remember, offer too much and you may unnecessarily reset the vendor's expectations. Offer too little and you risk not being taken seriously. Knowing the property, the agent, and experience matters. Can an Agent Accept an Offer Before the Set Date? Yes, they can. And very often they do accept offers before the date even though it is listed as "Sell by Set Date". When an offer is received, they may inform all other interested buyers that an offer has been received. In a competitive campaign, this can quickly evolve into a Best and Final Offer campaign, in order to be accepted for consideration. For tips on how to manage a Best and Final offer, click here. Or some may call for an impromptu Boardroom Auction, as bidding will be more transparent to all buyers. Click here for tips on how to manage a boardroom auction. Does the Highest Offer in a Sell by Set Date Offer Always Win? Often. But not necessarily. It depends on the motivations for this Sell by Set Date property. Remember, as mentioned in our Best and Final Offer tips, the vendor and/or agents may mention they have other offers to gauge the level of interest. They may or may not have actually received any offers. Mentioning this creates a sense of urgency, forcing interested parties to expose their level of interests. That is why you should never increase your offer simply because you are told there is competition. Your decision should remain anchored to your assessment of the property's value and your predetermined walk-away price. If any interested person really submit their offer, perfect. The property is sold if the offer price is acceptable to the vendor. Otherwise, the property will continue to be listed for sale till the "Set Date". Now, assuming an offer is genuinely received. The process will almost always result in a sale. But it may not always be awarded to the buyer with the best offer. A Sale by Set Date process is treated like any other standard written offers. IE, you CAN submit a conditional offer, which includes typical conditions such as building and pest inspection clauses, finance clause, or any other clauses you need in the transaction. It is in the vendor's interest to consider all offers and their conditions when reviewing and selecting the offers. They are likely going to select the offer with the most suitable conditions, even if it is not the best in terms of price. For a small fee, our good buyers agent can help you confidently navigate this entire purchase process, from buying to keys collection. What is the Success Rate for "Sell by Set Date" Buys? Historically, we have successfully purchased more than 80% of the Sale by Set Date properties our clients have ultimately chosen to pursue. Importantly, we do not try to win every campaign. We will recommend walking away where the price exceeds our assessment of value. We could not speak for all other buyers agents though, as their experience varies and thus, their success rate. What is the Process to Make an Offer for a "Sell by Set Date" Property in Melbourne? So, you have been contacted by an agent, telling you they are holding a closed auction, and you have been invited to submit your best and final offer by X date and time. What do you do next? How to submit an offer for a Sell by Set Date Property? If you have been contacted and informed by the vendor agent that they are accepting offers for the property and you are supposed to make your "best and final offer", they should also inform you when the deadline is. You should always ensure you submit your best offer before this deadline. If the agent has not told you how or when they want to receive the offer, ask them. Make sure you know what the expected format is. Some may accept offers in an email. Some may have a formal offer form or an Expressions of Interest (EOI) form, that you have to fill in, sign and submit. Whatever the process, make sure your offer reaches the agent before the stated deadline. Treat the deadline as absolute. Do not assume a late offer will be considered. Ultimately, however, the vendor controls whether an offer is accepted, rejected or whether negotiations continue after the nominated closing time. Typically, your offer should include: Your name Your contact details Your best and final offer price for the property Any conditions you want to include Preferred Settlement date or period, usually 30, 60 or 90 days in Victoria. Some agents or EOI offer forms may ask for more information. Make sure you understand what is expected, and provide them where relevant. It is ok not to disclose too much, if you are uncomfortable. Should You Make Your Maximum Offer Immediately? There is no universal answer. If the agent genuinely intends to allow only one final submission and there will be no further negotiation, holding back may cost you the property. If there is likely to be another negotiation round, immediately showing your maximum can remove flexibility. You need to establish the rules of the campaign before deciding your strategy. What happens after submitting your Offer for the "Sell By Set Date" property? Submitted your offer? Wait. And keep your fingers crossed. You'll find out what's next. If your Best and Final Offer is being considered, the agent will let you know the next steps. You might need to be prepared "review your offer" (aka "improve your offer"), or you might win it without any further dramas. If your offer is the winning offer, the agent will usually prepare the formal Contract of Sale for your signature, and you will need to pay the holding deposit. If your winning offer is a conditional offer, it's time to start ticking off the conditions. Know when these conditions are due. Get the building and pest inspection organised, get that finance process started, or get any other due diligence processes done. And as they say, the rest is history. Generally speaking, if you have not heard from the agent within 4-6 business hours of the deadline (usually half a working day), there is a reasonable change another offer is receiving priority. If you have done your due diligence correctly, and you can truly put your hand on your heart and say you've genuinely submitted your best offer, you know you have done your best. The property is not meant to be yours. There is always a better one somewhere. But you will have to go through the same process and anxiety all over again. It could be months or even years before you find another one. And chances are, in a rising market, you will need to pay more for the same property or start looking in less desirable suburbs. If you have not heard from the agent after 4 hours, call them, ask for an update. If you get a vague reply, or an iffy reply, chances are, they have selected other offers. That's usually the bad news. But the good news is, because they have not outright rejected your offer. Your offer may still remain their back up. If the preferred offers fall through, you might just win the closed auction or you might be called to "improve your Best and Final Offer". As a side note, selling agents often find experienced buyers advocates easier to deal with. Represented buyers are typically independently qualified, finance-ready, understand the process and can make clear decisions quickly. IE, they can close the sale faster. If you have done the right due diligence, your Best and Final Offer should be your very best for this property. You should not have any "buyer's remorse" and you would not have regretted not offering an extra $500 more. Do not be that buyer. Get one of our professional buyers agents to manage your offer, if you are not confident. Can You Counter a "Sell by Set Date" Offer? Short answer is No. However, there might be ways around this, to achieve similar results. It all boils down to how the agent runs this Sell by Set Date campaign. Remember, as in the Best and Final Offer, in most (not all) situations, it is in the agent's and seller's best interest to allow interested buyers a second chance to review (and improve) their offers. So, when the agent gives you the opportunity, make good use of it. Remember, in this Sell by Set Date Process the agent usually will not disclose who and what the higher offer is. So, you do not have to make your decision on the spot. You can always request 10-15 minutes to privately review and discuss your offer with your partner, mortgage broker or lender, before confirming or revising your final offer. It also does not mean that you have to improve your offer, if what you have offered is what you believe is the best, and you would not regret if the property were sold for $500 more. What If You Lose? This is where buyers often torture themselves. "Maybe we should have offered another $5,000." Perhaps. But that doesn't mean you made the wrong decision. Imagine you valued the property at $1.30 million. You were prepared to stretch to $1.33 million because it suited you particularly well. Someone else paid $1.39 million. You did not "lose" $60,000. Another buyer simply placed a substantially higher value on that property than you did. There will be another property. The dangerous reaction is: "We lost this one, so next time we'll just bid $1000 more." That is how disappointment from one campaign turns into overpayment on the next. Treat every property independently. What happens if no offers are received by the "Set Date"? This is where things get interesting. Does the property get sold as a "fire sale"? Or is the property withdrawn from sale? There are no fixed rules governing what happens next. It all depends on the vendor and why they are selling the property. But it usually takes one of these paths: The listing continues as a "Private Sale" The listing changes to "Offers above $x00,000" The property is taken off the open market, and sold as an "Off-market" property The property is possessed by the lender and treated as a mortgagee sale, if it is a pre-mortgagee sale The property is taken off the open market, and the sales process ends Should You Submit an Odd Number Price Offer? Sometimes. If your maximum is around $1.3 million, an offer of: $1,303,500 can potentially beat someone who simply submits $1,300,000, IF everything else is the same. In practice, however, everything else is rarely identical. There is no point using an odd number simply for the sake of looking clever. It can occasionally make a difference in a very close contest, but valuation and offer structure matter far more. Can a Sale by Set Date Be Underquoted? Victorian underquoting laws still apply. The new October 2026 price-transparency rules also strengthen the information available to buyers, including the requirement for reserve-price disclosure before qualifying fixed-date sales. But no advertised price should be treated as your substitute for valuation. If the advertised expectations seem inconsistent with comparable evidence, investigate why. Sometimes there is a rational explanation. Sometimes there isn't. Unless there are a few gold bars buried under the floorboards, the numbers should eventually make sense. Sale by Set Date vs Auction: Which Is Better for Buyers? Neither method is automatically better. They simply require different strategies. At an auction, the major advantage is transparency of competition. You can normally see the other bidders and observe the price moving in real time. The disadvantage is the pressure and emotion of an open bidding environment. With Sale by Set Date, you avoid the theatre of the auction. But you pretty much lose all the price visibility. You may have no idea whether the second-highest offer is: $1,000 behind you; $50,000 behind you; or $20,000 ahead of you. That makes valuation discipline and offer discipline even more important. This is where the psychology of second guessing yourself is dangerous. Can a Buyers Advocate Help With a Sale by Set Date? Yes — but only if the advocate genuinely adds something to the process. Simply telling a buyer: "Offer your maximum." is not negotiation strategy. A competent buyers advocate should help you: determine fair market value; analyse comparable sales; identify property risks; understand the vendor's priorities; assess current market conditions; estimate likely competing buyer behaviour; decide whether the property is worth pursuing; structure the offer; negotiate with the selling agent; maintain price discipline; and tell you when not to buy. That last point matters. A high success rate means very little if the strategy is simply to pay more than everyone else. Our objective is disciplined acquisition. The Bottom Line A Sell by Set Date is not simply about submitting the highest number before a deadline. You need to understand: what the property is genuinely worth; how much genuine competition exists; what matters to the vendor; how your offer should be structured; when to improve your offer; when to hold firm; and when to walk away. Victoria's new 2026 reserve-price disclosure laws give buyers considerably more information than before. Use that information, but don't mistake greater transparency for certainty. The vendor's reserve tells you what they want. The selling agent tells you what is happening in the campaign. Comparable evidence tells you what the market has been paying. Your job is to put those pieces together without allowing urgency or emotion to make the decision for you. Our Experience with Sell by Set Date Campaigns We trust you have found the above common tips useful. There are also advanced, lesser known strategies that can help you win a "Sell by Set Date" campaign without paying the top price. However, these techniques are not suitable for all situations, and can be risky if applied inappropriately. If you are feeling anxious or uncertain with the preparations, or just want that confidence to win the Set Date Sale Campaign without paying top dollar, reach out to us. Our Purchase Only Service ensures that you assess the property's true value, avoid overpaying, and negotiate effectively to buy your shortlisted property. With fees starting from $3850 for up to two properties it is a small investment compared to the potential savings. In fact, in a recent purchase, our buyers advocates saved a client a remarkable $500,000. Here's how we did it. Our Melbourne-based Buyer's Advocacy works exclusively for buyers, preventing buyers from overpaying and giving them the confidence to purchase successfully. Our Purchase Only service is especially popular with hands-on property buyers who want expert guidance without the stress of navigating the complexities on their own. Over 95% of our clients buy their property within two months. Ready to buy with confidence? Get in touch today to find out if our services are the right fit for you. Need Help With a Sale by Set Date? If you've found a Melbourne property being sold by Sale by Set Date and want an independent assessment before making your offer, we can help. Our Purchase Only service can include property appraisal, comparable-sales analysis, due diligence, offer strategy and negotiation — with one objective: helping you secure the right property without paying more than you should. Because the goal isn't simply to win the property. It's to make sure the property is worth winning. Other References: How to determine market value of a property. How to win at property auctions in Melbourne. How can buyers advocates can help you beat the market. Get in touch with Melbourne Buyers Advocates.

At first glance the “please remove your shoes” sign feels polite—even culturally respectful. Yet our two-year Melbourne study of 500 auction campaigns in Melbourne tells a different story: homes that enforced a shoes-off rule sold for $50,000–$100,000 less than comparable listings that let buyers keep their footwear on. That finding echoes what international buyer agents have long suspected: add friction at the front door and you shrink the final cheque. The practice of getting buyers to remove shoes during open for inspections are increasingly becoming a common sight, especially in the Eastern and South Eastern Melbourne suburbs. While this may seem like an innocent requirement "from the seller", what we discovered seems to suggest otherwise. And it often have a negative effect on the property price. In this article, we dissect the study and attempts to explain how shoes affect the property price. Does Shoes-Off Inspection Campaign Hurt House Prices? Many agents justified this popular practice as "a requirement from the owners". However, we observed some agents were wearing shoes IN the very same house. While a "no-shoes" campaign may seem innocent, and might be convenient for the sellers or occupants, our studies suggested something shocking. Our studies revealed that a "shoes-off" open for inspection campaign can cost the seller between $50k-100k! Yes, over the 2-year study, our observations suggested that Open for Inspections with a "shoes off" requirement routinely results in an average lower price of $50k, and in one case, costed the seller up to $100k! At a recent auction for a $3million house in Balwyn North, agency contracts shows a price expectations of $3.5million, not impossible, given our Real Appraisal(TM) price of $3.3million. That house was unfortunately sold for $2.8 million, $700k short of vendor's expectations, and $500k less than our realistic appraisal. The contributing factors? Shoes-off policy is one of them. The Shoes-off Policy is one of the factor contributing to a shock $700k less than expectation. Why a "Shoes-Off" Campaign Can Quietly Slash Your Sale Price Picture this: you arrive at what should be a beautifully presented home, only to be confronted by a jumble of scuffed sneakers and sandal odours blocking the entrance. Instead of a warm welcome, buyers meet clutter, discomfort and a whiff of hygiene worry. This is hardly the right way to create a good first inspection for potential buyers. It does not give property buyers a welcoming impression at all. While some buyers we spoke to understand it might be easier to keep the house neat, many felt disgusted at the pile of shoes at the entrance. Our buyer interviews revealed three consistent turn-off: Poor first impression – A messy shoe pile screams disorganisation, not prestige. Health & safety fears – Strangers’ foot hygiene, foot rot, the risk of stepping on sharp debris, even athlete’s-foot anxiety—all put buyers on edge. Interrupted flow – Buyers fetching, taking off and putting on footwear to see the backyard or garage, broke their emotional connection with the home. Shoe Anxiety – Buyers worrying if their shoes will be misplaced and even stolen. This off-putting friction shows up on auction day or when the deal is sealed. Campaigns that enforce a "shoes-off" policy during open for inspection averaged about $50,000 less in the final price. In one well-presented house in Glen Waverley, the discount is huge! It sold for between $100,000-$150,000 LESS than our expectations, despite the auction being held in a perfect weekend weather and strong marketing. Everything about the campaign and auction was well choreographed. The only exception we noted was its "shoes-off" inspection campaign. Now, contrasting this negative result with a successful campaign run by a different Glen Waverley agency that knows their clientele. This agency usually do not require buyers to remove their shoes at their inspections. The results they achieve for a newish property at Wheelers Hill was outstanding. The campaign was run professionally, do NOT require buyers to remove their shoes and the property was sold for more than double the median price of properties on that street! Yes, the property was sold for $2.62m in a street where the typical price is $1.2m, beating every buyer's expectations. What the “Shoe Factor” Really Tells Us Our two-year data set may have quantified the impact, but our buyers advocates in Melbourne have long suspected that bad first-impression friction erodes a property’s emotional appeal—and therefore its price. Day, time, weather, even agent charisma all play a role, yet nothing surprised us more than how consistently a “shoes-off” policy shaved tens of thousands off the final bid. To understand why, we went straight to the source. We interviewed some agents and buyers on their thoughts of the "shoes-off" policy. And here's what they said. Why Agents Insist on Shoes-Off Presentation control – Agents claimed that vendors want pristine carpets, especially in high-spec South-East Melbourne homes with pale wool or timber floors. While this might be true for some cases, it is usually the agent's who prefer not to deal with a potential mess of shoe prints in the house. Perceived luxury – Some agents believe a shoes-off rule signals exclusivity, likening it to boutique retailers that ask buyers to wear gloves. To be honest, we had seldom seen this "glove" being done in Melbourne Cultural respect – In multicultural suburbs like Glen Waverley and Box Hill, removing footwear aligns with many owners’ customs. “It helps us keep the floors spotless” one top-performing agent confessed—and admitted sellers often do not have an opinion. While some might be valid concerns, genuine luxury homes, however, do not enforce such no-shoes policies. They provide shoe covers, if the agents or sellers are genuinely concerned. Sales agents for luxury home understand happy buyers are happy spenders and they would rather inconvenience themselves than affect the buyers "feel" for the property. Why a Shoes Off Policy is Just a Feel-Good Illusion In theory, banning shoes at an open home sounds hygienic. In practice, it’s anything but. Here’s why: Bare feet are scentful bio-hazards. Warm, sweaty soles breed bacteria and fungi. Think tinea, athlete’s foot and delightful wafts of Eau de Gym Sock. You get the idea. They’re every bit as capable of tracking nasties through a property as rubber soles. Now this nasties go straight through the socks to your feet. Cleanliness goes out the back door (literally). Buyers routinely wander from living room to garage, backyard and shed, barefoot or in socks, then bring that that garden dirt straight back inside. So much for a spotless floor. Agent hypocrisy (here’s the kicker). Watch closely and you will see plenty of agents walking around in their polished loafers while lecturing punters about removing shoes. If they don’t respect their own policy, why pretend it works? Bottom line: The shoes-off rule offers is more a convenience to the agents than hygiene. Responsible agents should focus on a proper post-inspection clean instead of feel-good gimmicks. How Buyers Actually Feel About the Need to Remove Shoes "I'm not Going In" – This is the exact feedback from some of our buyers. And we know the outcome. Awkward entry – Interviewees likened the shoe pile to a security checkpoint: “I felt like a gate crasher walking into a slump, not a welcome guest.” Disgusted – Buyers are disgusted at the sight and smell (yes, some shoes do smell) of dirty shoes at the entrance and socks in the house. Health Concerns – Many buyers are also concerned with feet borne diseases, such as foot rot, tinea, hand-foot-mouth diseases. Discrimination – Some buyers felt discriminated against as they were made to removed their shoes, against their podiatrist's health advice. Interrupted flow – Multiple trips to reclaim shoes, taking off and putting on the shoes, for the patio or garage inspections broke their emotional connection to the home. It is disruptive, one said. Shoe Anxiety – Some buyers were afraid others might mistakenly wear the wrong shoes. One upsizer summed it up: “If they’re that precious about dirt, how realistic are they with the price?” Health Concerns of Shoes-off Policies are Valid In addition to putrid smell, the health concerns of "shoes-off" policies are valid. Recent studies shows the socks in the single piece of clothing item that contains the most germs and yuckies. https://www.thenewdaily.com.au/life/health/2025/08/04/feet-socks-bacteria-fungi#google_vignette Are there Better Solutions to a "Shoes-off" Inspection? Yes there are. Shoe covers are available. Instead of inconveniencing buyers with the logistics of dealing with shoes, providing shoe covers is usually a more practical and convenient option. It keeps the dirty shoes off the floors while keeping the entrance neat and welcoming and allows the buyer to enjoy the inspection without the inconvenience. The Take-Home for Vendors and Sales Agents Agents or sellers could also engage cleaners to clean up the house after inspections, if they are concerned. With a typical campaign having 8 to 10 opens and each clean costing about $200, a $2,000 professional-cleaning cost is peanuts compared to a possible $50k–$100k harm to property prices. A smooth sales campaign and pleasant buyer inspection experience is the key to higher prices. By removing friction instead of footwear, sales agents keep crowds larger, engagement warmer and bids climbing—exactly what a well-run Melbourne property sales campaign is meant to achieve. Should Sellers Insist on a "Shoes-off" Inspection Campaign? Honestly, if I were the seller, I would rather insist the agent NOT run a "Shoes-off" Inspection Campaign, than to risk a $100k drop in property price. I would spend the couple of hundred dollars cleaning the property after each inspection, or provide shoe covers. I would invest in that, to get that extra $100k in selling price. Getting the house cleaned after every inspection does not cost $100k. And of course, as with everything in life, there are always exceptions. There are cases where such properties were sold for a high price. But these are the exceptions rather than the norm.

Getting your mortgage through a mortgage broker is probably one of the best things you can do, when you embark on your home and investment property buying journey. However, while you are getting your mortgage serviceability assessed, some mortgage broker might provide you with some Property Buying Advice. Whilst most are generic property buying information, some more "enterprising" mortgage brokers may go as far as telling you what to buy and how to buy. We've seen this too many times. And we've seen too many property buyers being badly affected by such unqualified advice from mortgage brokers and mortgage clerks. So, what happened here? What do you need to know? Are mortgage brokers supposed to provide property advice? How qualified are mortgage brokers to provide property advice? Should they be licenced in real estate before they can provide property advice as well? What are the hidden agenda that you need to know with property advice from mortgage brokers? This article will explain what you need to know with property advice from mortgage brokers, expose what is not said to you, and how to protect yourself from the hidden agendas. What is the role of Mortgage Brokers? Mortgage brokers are lending specialists who help property buyers find the most suitable loan for their properties. They do this by helping and banks and lenders assess the property buyer's income, expenses, assets and liabilities, plus other criteria, to determine the most appropriate lender for the buyers. Most mortgage brokers are doing the right thing, and there are also no doubts that many are themselves property owners and property investors. What's the Issue with Property Advice from Mortgage Brokers? Unfortunately, however successful they claim to be, most mortgage brokers do not have the vast real estate experience and latest property market knowledge needed to provide you with qualified property buying advice. It’s essential to understand that mortgage brokers are not licensed to provide real estate advice. They do not have the comprehensive knowledge or real estate licensing required to provide sound property recommendations, and doing that legally. Furthermore, their insurance coverage typically only covers their financial advice—not property buying advice. If a mortgage broker’s guidance leads to poor property choices, clients often have limited legal recourse. What's Required to Provide Real Estate Advice in Australia? In Australia, the law specifically mandates that anyone providing property advice must be appropriately licenced in real estate. So, in order for anyone, including mortgage brokers, to provide any property advice, they have to hold a legally recognised and valid real estate licence in your state in Australia. And this licensing is managed by the state real estate licensing authorities, such as the Consumer Affairs in Victoria and Department of Fair Trading in New South Wales. This purpose of licensing is to protect consumers, ensuring consumer receives educated, appropriate and well informed advice. Can Mortgage Brokers Provide Property Advice? Here's the million dollar question. Can a mortgage broker or mortgage clerk provide property advice? Legally, unless the mortgage brokers / mortgage clerks hold a valid real estate licence in your state, it is illegal for mortgage brokers to provide any property advice, and for them to tell you what to buy, where to buy. Some brokers do give high level tips on how to buy your properties. And that is ok. But, it will be illegal for them to give you anything more than that. They are not licenced and have the latest knowledge to provide advice on any specific property / location or recommend properties to you at all. What could go wrong with a mortgage broker advice? While most of the real estate advice from mortgage brokers are no more than basic, relatively harmless guidance, and checklists, there had been too many instances where information provided by mortgage brokers are incorrect, incomplete, misleading or had resulted in the property buyer's financial loss. The 2 most common problems we have seen with advice from mortgage broker are: Wrong valuation of the property Conflicted location and types of property To explain why information provided by mortgage can be misleading, or incomplete, let us start with giving you an understanding of the skills, knowledge and information needed by a real estate buyers agents before they can provide property valuation / appraisal and location advice relevant to you. How do Real Estate Professionals Appraise the Property Valuation? Determining a property’s valuation goes well beyond entering an address into a software program. To provide an accurate property valuation, real estate professionals need an in-depth knowledge of the local market, buyer preferences, and the property's unique characteristics. Here’s a simple run through of what’s involved in a reliable property valuation: Key Aspects in Property Valuation Market Knowledge: Understanding current market trends, recent comparable sales, and buyer demand in the specific area is essential. Experienced professionals have up-to-date knowledge of these trends, which free online tools can’t always capture accurately. Property Characteristics: Real estate agents or buyer’s advocates need to evaluate factors like the property’s age, condition, size, layout, and unique features. This requires an on-site inspection to truly understand what sets the property apart or what detracts from its value. Buyer Demographics: Different buyers look for different things, so knowing who is most likely to buy the property (e.g., families, investors, or young professionals) is crucial. This insight helps agents and advocates determine how the property’s features align with buyer demand, influencing its value. Why an Accurate Appraisal Can’t Be Done Remotely Unlike mortgage brokers who focus on lending, buyer’s advocates and real estate agents spend their time inspecting properties on-site. These inspections give them a good assessment for the property to provide an accurate valuation, based on both tangible and intangible property facts and features. Without physically evaluating the property, it’s difficult to provide a thorough, accurate appraisal. Real estate agents and buyer’s advocates also possess the specialised knowledge and on-the-ground experience required to deliver accurate property valuations, something which mortgage brokers / mortgage clerks do not have. Our buyers advocates and buyers agents are out there inspecting properties everyday—not sitting in a room crunching numbers, selling mortgage packages. This is why only licensed real estate professionals are the most qualified to assessing and appraising a property’s true value. How do Buyers Advocates Find the Right Property for the Buyer? At Concierge Buyers Advocates, our onboarding process is designed to deeply understand what buyers really need in a property. Here’s how we ensure that we’re aligned with your vision: In-Depth Onboarding Consultation Our onboarding workshop, which typically last between 45 to 90 minutes, is a comprehensive, unscripted brainstorming discussion. This process helps us: Understand what you think you want Clarify what you may not have considered yet Explore additional options based on your needs and lifestyle goals Independently understand and qualify what you want so we can identify the most suitable property for you. Comprehensive Property Search Across All Sources Once we’ve uncovered the full scope of your preferences, we begin an extensive search using our unique advantage: full independence. We’re not affiliated with any real estate agencies, and that means we can and do source properties from any agency, off-market channels, plus other proprietary sources to find the perfect fit for you. Data-Driven Property Buying Our team invest tens of thousands annually subscribing to quality and reliable data sources from industry data providers, and maintaining our in-house data and statistics. These give us detailed fact-based insights and trends that help us identify locations and properties with high potential for our clients. Through our buying services, you get access to data and knowledge, worth over tens of thousands of dollars, which helps us identify the best location to meet your buying brief. We dig into this wealth of information to find the best location and suburbs for you, whether you are looking for high growth locations or good yield properties. It's not voodoo, hear-say, monkey-see-monkey-do investments. It is investment recommendations backed by data science. No sales agent, unlicensed "buyers agent," or mortgage broker will invest two hours or more to thoroughly understand your goals, risk tolerances and needs before providing their recommendations. Neither do mortgage broker spend the tens of thousands of dollars annually for the subscription-based data resources buyers advocates use. Furthermore, these professionals lack the real estate licence, experience, in-depth local knowledge, and up to date specialised insights essential for offering truly valuable property advice. What had Gone Wrong with Mortgage Brokers Providing Property Advice? Now, the above background information should give you an idea of the level of details, information and experience our buyers advocates have, in order to provide you with a qualified and relevant property advice. Does a mortgage broker or mortgage clerk have that level of experience and access to research data and sources? Does the mortgage broker or clerk have the intimate information about that specific property and the property market in the area? Has the mortgage broker even inspected the property? Don't get us wrong. Most mortgage brokers and mortgage clerks and administrators are doing the right thing. They stick to providing mortgage advice and pointing borrowers to simple, generic property buying guidelines. However, there are enough instances of mortgage brokers providing wrong / misleading guidance to buyers, causing buyers to suffer significant damages. And these instances are so prevalent that they had prompted calls from a real estate professional body for mortgage brokers to stop providing property advice. The industry has recognised that unqualified advice from mortgage brokers are putting the buyers and their [mortgage brokers] own mortgage business at risk. Before we look at two real-life examples of how buyers are harmed by such advice, let's read excerpt from Your Investment Property Magazine. The call for Mortgage Brokers to step back from property advice. The head of a Sydney based buyer’s agency and a representative of the Real Estate Buyers Agency Association of Australia (REBAA) has backed calls from the head a peak mortgage broking body reminding brokers not to provide unqualified advice. Peter White, chief executive of the Finance Brokers Association of Australia (FBAA), reminded brokers not to provide advice in areas they aren’t qualified to do so, particularly investing in property. “If you are only a qualified finance broker, act as a broker and do your best to meet your client’s needs,” White said in 2016. “If you also want to assist a client in other areas like property purchasing, get the necessary qualifications and training otherwise you may be at risk of a life changing personal pay out,” he said. White and the FBAA cited a recent case in which a broker was found to have breached his duty of care by the Credit Ombudsman Service and forced to pay more than $115,000. The Ombudsman claimed the broker had given incorrect and unqualified advice. The Hidden Reason why Mortgage Brokers are Providing Property Buying Advice It is a well known industry fact that second rate and small time property developers and property project marketeers incentivise mortgage brokers to sell their products. Mortgage brokers and mortgage clerks are often paid commissions by property developers to sell the developers' properties. Now, remember, anyone providing and selling real estate has to be appropriately licenced? Are these brokers licensed real estate agents? If not, they are putting you at risk, and they risk being called upon by the real estate industry watchdog. Licensing of real estate agents protects property buyers from dodgy and fraudulent real estate purchases, and, also prevents unqualified persons from providing unqualified property advice, which are putting consumers at risks. Now, who is protecting you, if you suffered any loss by following the advice of your mortgage broker? Examples of Buyers Suffering Significant Damages Resulting From Mortgage Brokers Advice Here are some real-life examples how some of our clients had been adversely affected by unqualified advice from the mortgage brokers. These are just a sample of examples that we are aware off. There are many other untold examples out there. Case 1. Mortgage Broker provided misleading valuation, resulting in Home Buyer missing out on their Dream Home, and suffering about $10,000 financial loss. Our first home buyer client was looking for a high-specs, high quality home in the eastern suburbs, around Glen Waverley. We found one which "ticked every box" (in the client's own words). They paid for a building and pest inspection, got the Contract of Sales and Section 32 reviewed by the solicitors. Our buyer's advocate assessed the property to be worth around $2.4-2.5 million, and it could sell for around the $2.5 million dollar mark, which is well within the client's budget. We agreed to proceed with preparing for the auction bid at around $2.5 million. The evening before the auction, the mortgage clerk sent our client a "valuation" of $2.1 million, which is significantly lower that our appraised value of $2.4-2.5million. Now, because this opinion came from a person representing the lender, the client wrongly trusted the valuation and would not agree to bidding more than $2.15million. The property was eventually auctioned and sold for $2.52 million. Our property appraisal was spot on, and $2.52 million was a price which our client would be more than happy to pay for. Because of this unqualified advice from the mortgage clerk, our client missed out on their dream home. Their intense preparation and their hopes were dashed by this uncalled-for disruption from the mortgage clerk. Our buyers were emotionally distraught, knowing they could have bought their dream home, if they had not listened to the poor and unqualified advice from the mortgage clerk. It ticked all boxes, and it was their dream home. Their kids loved the house so much they had even chosen their rooms during the property inspection. They were full of hope and they had been discussing and planning how they could use the house. They had the capacity to pay for it, and they wanted that so much. But because of the unqualified advice from the mortgage broker, they missed out. They realised that they had misplaced their trusts, and their heart sank when they knew what they had done. They could have walked away with the keys to their dream home, if they had not trusted their mortgage broker's poor property advice. What went wrong with this mortgage broker's advice? The last minute "valuation" from the mortgage administrator was where things started going wrong for our buyer. Firstly, it is highly unusual for a reputable lender to send the buyers a "valuation" for any property before they receive the Executed (signed) Contract of Sale for the property. What the mortgage clerk provided was not a formal valuation. The mortgage clerk is NOT licenced and unqualified to provide that. Only fully licenced real estate agents and licenced property valuers can provide property appraisals or valuation, and lenders would only organise these formal valuations AFTER they receive the executed Contract of Sale, not before the buyers buy it. Whatever this mortgage clerk / administrator had given, was just their personal opinion of what the property is worth. And it is no better than a 10 year old kid punching an address into a computer software that gives you the average price of the properties sold, without considering the quality of each individual property, and buyer profiles, etc. Our client was looking for a high-specification, high quality home, not an average suburban home... The client's concern of overpaying is real and valid. The fear of overpaying also highlights the need for buyers to get a good assessment of the property value before they make an offer, or they are more likely than not, to overpay, putting their finances at risk. Since this "personal opinion" came from a person representing the buyer's lender, it gave our client the impression that it was what the bank will lend. From our extensive experience working with mortgage brokers and the mortgage application process, we know this mortgage clerk is likely a new staff and had no idea what he was doing. He definitely wasn't aware that because of this action, he was about to lose his job. Because this mortgage clerk sent our client his opinion in the last minute and this wasn't brought to our attention until minutes before the auction, there wasn't enough time for us to clarify with the lender, and to correct the client's misunderstanding. This very last minute disruption, resulted in our clients wrongly limiting their offer and they lost their dream home, when they could have won it. Real Estate is clearly not this mortgage clerk expertise, and it backfired and got him fired when our client lodged a formal complaint. Emotional Distress and Financial Loss from this Mortgage Broker's unqualified advice As a result of this unqualified advice, our client missed out on their dream home, and that resulted in our client suffering emotional damage and distress. This is on top of the loss time, and monetary losses from the wasted building and pest inspections and legal contract review, plus 2 additional months of rents which the clients would now have to pay. It caused them about $10,000 worth of monetary loss. This same mortgage clerk subsequently provided another misleading information to our client on a second property. But we managed to discover this second instance early, independently fact-checked the mortgage clerk's claim, challenged the mortgage clerk's opinion and corrected our client's misunderstanding. Any other uneducated buyers or buyers without any professional support, would have once again believed the misinformation from this mortgage clerk. If we had not picked this up, our clients would once again be misled by this novice clerk and missed the property they wanted. It would have caused our clients even more financial damage this time, as it came much later in the buying process. This is Why Savvy Property Buyers Buy with a Buyer's Advocates on Their Side That's what property buyers pay our professional buyers advocacy services for. To protect their interests throughout the whole property buying process. We use our experience and independent professional network of agents and industry affiliates to support our clients, ensuring our clients receive the correct and most appropriate property buying advice. Case 2. Investor Bought Sub Standard Properties from Mortgage Broker Friend This property investor contacted our office one day, seeking a review of their investment properties. They were seeking to understand how they can improve the performance of their property portfolio. In one look, our property advocates casually asked how had they bought the properties. "Recommended by their mortgage broker (who happened to be their friend)" was the answer. This was the first red flag. Of the 5 properties they owned, only one is an investor grade property which could have been cash-flow positive, if it wasn't their own home. The other 4 were apartments which were designed for unsuspecting investors. Such properties were all over Melbourne. Melbourne CBD, Box Hill, Sandringham, etc. Now, for the uninitiated, there is a MAJOR difference between an investor-grade property and a property meant for investment. An Investor Grade Property is what our pro-buyers buyer's advocates would recommend, while a Property Meant for Investment is what developers-backed real estate salespersons would sell to the uneducated, unsuspecting foreign investors. Foreign investors almost never ever visit the property they buy, so they would not know how badly some of these properties were built. I will cover the difference in more detail in a later article. Back to this client, while the 4 apartments seems to be bringing them income, they eventually realised that the rental income was insufficient to cover their expenses and outgoings. The total cost of their mortgage, repairs, expensive body corporate and council rates, etc are more than the rent they collected. This situation is called negative gearing. This mortgage broker "friend" of theirs was receiving tens of thousands in commissions for each property he sold to my client. While negative gearing may be helpful to the rich, who are investing in these properties with their spare cash, it is dangerous in the long run for the majority of moms-and-dads property investors. When property prices crash, or when interest rates rise, they would have usually end up with trouble servicing the mortgage, and when they can no longer afford to hold their properties, they could end up with their properties being repossessed by the lenders. This client was also surprised to realise that despite years of owning these properties, and making payments towards the properties, the value of their properties had not grown at all. In fast they still owe the lenders more than what the properties were worth. They are in a situation called negative equity. Where they owe more than what the assets are worth. It is dangerous. They could and did find themselves in financial distress for years. With this client, if they had bought the right properties, instead of the dud investment properties recommended by the mortgage broker, they could very well be retired with a few properties fully paid off by now. #rantover There are many more other examples out there. Time and time again, we hear stories of property owners ending up in trouble or with the wrong properties, due to unqualified advice from unqualified people. And it is about time property buyers get educated on who they should trust to receive these advice. What Do You Need to Know About Property Advice from Mortgage Brokers? Mortgage brokers process a lot of property mortgages, developers know this. And they know this makes them a good channel to push their new properties to naive and unsuspecting home buyers and property investors. The developers are incentivising the mortgage brokers to sell. The mortgage brokers are paid commissions, or "introduction fees", for each property they sell to their unsuspecting clients. Can You Trust a Mortgage Broker's Advice? Yes. You should trust their mortgage advice. Their skills and experience are in assessing your serviceability, how much you can borrow from the lenders and finding out which lenders will suit your needs. However, if it is property advice, take their advice with a pinch of salt. Most of their advice are just generic advice, and should not be taken as specific to your needs. It takes a lot of experience, industry and market knowledge to determine a property's value, where and what you should buy. Also, remember, mortgage brokers' property recommendations can be biased. They are usually paid commissions by property developers and project marketeers to sell their products to you. So, unless you are 101% confident your mortgage broker holds a valid real estate licence, is a reliable practising real estate agent, and is independent and neutral in their recommendations, you are putting yourself at risk, when you trust their property advice. What Should Home and Investment Property Buyers Do? As property buyers, you should always do your own research and independent due diligence. While your mates' advice and mortgage brokers' inputs in some instances are good, they should never be relied upon as the gospel truths. They are all unqualified advice. They are either ill-informed, ignorant, or they could even have a hidden agenda. Can You Trust Sales Agents Providing Buying Advice and Service for Free? The law is simple and clear. Unless you pay for the real estate agents to work for you as buyers agents, the fact that they are providing you "free" services makes them a sales agent, and they are working against you. These sales agents are paid by the seller, either directly or via commission sharing with another agent or sales person. And real estate agents are legally required to protect the best interest of whoever pays them. For more information on this, this article will explain why it is important to find out how your real estate agent is paid. Where can Property Buyers Go for Independent Property Buying Help? Look for independent buyers agents or buyers advocates who charges a fee. The Australian law mandates that the real estate agent MUST look after the best interest of the person who pays for their services. As independent Melbourne buyers agents based in Glen Waverley, buyers engage our paid services to help them buy their properties confidently. We protect the interests of property buyers throughout Melbourne, Victoria and Australia. Our 3-step process helps property buyers outsmart the market, and make confident buying decisions fast. Get in touch to explore how we can help protect your property buying interests.

Alice Springs, the vibrant heart of Australia's Red Centre, offers a unique and promising landscape for property investors seeking opportunities in regional markets. With its rich cultural heritage, stunning natural surroundings, and evolving infrastructure, Alice Springs presents a blend of advantages and challenges for those looking to invest in its property market.​ Positive Aspects of the Alice Springs Property Market One of the standout features of investing in Alice Springs is the attractive rental yields. As of the September quarter 2024, the median price for houses sold was $440,000, while units were at $312,500. During the same period, median weekly house rents increased by 5.5% to $580, and unit rents rose by 11.0% to $455. These figures translate to a rental yield increase of 1.1 percentage points to 6.9% for houses, highlighting the potential for solid returns on investment. ​ nteconomy.nt.gov.au The suburb of Sadadeen, for instance, boasts a median rent of $530 per week for houses, with a rental yield of 5.81%. Such promising yields make Alice Springs an appealing option for investors seeking positive cash flow properties.​ Challenges in the Alice Springs Property Market However, it's essential to approach the Alice Springs property market with a comprehensive understanding of its dynamics. The number of properties sold is relatively low for a city of this size, indicating a less liquid market. For example, only 54 houses and 40 units were sold over the year leading up to the September quarter 2024. This limited transaction volume may impact the ease of buying and selling properties.​ nteconomy.nt.gov.au Security and safety can also be a concern at Alice Springs. Property buyers need to be selective with choosing the right locations. While most locations are decent, some pockets can indeed feel rough. Alice Springs Property Investing - Where are the Prime Investment Locations? When considering where to invest within Alice Springs, focusing on areas with strong rental demand and growth potential is key. Suburbs like Braitling have shown promising returns, with rental yields of 6.8% for units and 6.2% for houses, alongside a median house price of $455,000. Such areas offer a balance of affordability and return on investment, making them attractive to savvy investors.​ What do luxury homes in Alice Springs cost? Luxury homes in Alice Springs? Do they even exist? Yes, they do. Alice Springs is home to several luxury homes. And they cost no where near the $10+million luxury homes in Sydney and Melbourne. For just a bit over $1mil, you can get a luxurious 5 bedroom villa with a pool that you can use almost all year round. Search for our recent purchase experience in Alice Springs. Outlook for Alice Springs Property Market Alice Springs, the vibrant heart of Australia's Red Centre, offers a unique landscape for property investors. Over the past decade, the property market here has experienced fluctuations, influenced by various economic and social factors.​ Historical Growth Over the Last 10 Years Tracking the Alice Springs property market over the last ten years reveals an overall upward trend. For those who invested a decade ago, property values have appreciated, reflecting the area's enduring appeal. ​ Recent Market Trends In the September quarter of 2024, the median house price in Alice Springs was $445,000, down 9% from $490,000 in the previous quarter. The median unit price also declined to $282,500 from $300,000. These figures indicate short-term volatility within the market.​ Market Outlook Looking ahead, the outlook for Alice Springs' property market is cautiously optimistic. While some experts anticipate a period of equilibrium in median prices and transaction volumes, recent developments, such as the approval of a 144-apartment project on Todd Street, suggest potential for growth and increased housing diversity. Navigating the Alice Springs Property Market with Professional Assistance Unlike some regional locations where the market is quite evenly spread, investing in regional markets like Alice Springs requires strong local knowledge and strategic insight. A wrong purchase can quickly result in the investor losing their capital. Sometimes, very quickly. This is where assistance from a experienced buyer's advocate can be invaluable. Concierge Buyers Advocates, for example, offer over 20 years of expertise in property investment and home buying, with a success rate exceeding 99.5%. Their services include identifying suitable properties, negotiating favorable terms, and ensuring a seamless transaction process, all tailored to your investment goals.​ Conclusion - Alice Springs is Exciting Alice Springs presents a compelling opportunity for property investors willing to explore regional markets. With its strong rental yields and unique cultural appeal, it stands as a beacon for those seeking to diversify their investment portfolios. By partnering with experienced professionals like Concierge Buyers Advocates, you can navigate this market with confidence, unlocking the potential that Alice Springs has to offer.

“Free buyer’s advocate.” It sounds attractive. Everyone loves a free stuff or two. Buying property is already expensive enough, so why would anyone pay thousands of dollars for professional buyer representation if someone else is willing to provide apparently similar help for free? The answer is not necessarily that a free service is bad. The more useful question is: If you are not paying the buyer’s advocate, who is? And after that: Does the way they are paid affect what they can recommend to you? Those are the questions every buyer should understand before accepting any “free” property advice. Nothing is free. If its free to you, it usually means you are the product. Now, let's start with the basics. What is the duty of a buyer’s advocate? In Victoria, Consumer Affairs Victoria describes a buyer’s agent, or buyer’s advocate, as a licensed estate agent who acts for a buyer rather than a seller. Typical services can include sourcing properties, assessing them, determining fair value, inspecting, negotiating, bidding at auction and following the transaction through to completion. Consumer Affairs Victoria A genuine buyer-side adviser should therefore be helping answer questions such as: Is this actually the right property? Is it worth the asking price? What are the risks? What comparable sales support the value? Are there better alternatives? Should I negotiate? Should I walk away? Those questions matter regardless of whether the buyer is purchasing an established home, townhouse, apartment, investment property or new development. So how can a buyer’s advocate be free? Professional advice is always funded. If it is not funded by you, someone else is. If the buyer does not pay the adviser directly, payment may come from another participant in the transaction. Depending on the business model, this can include: a property developer builder project marketer seller sales agency referral partner finance provider another service provider There is nothing inherently improper about a commercial referral arrangement. The important issue is disclosure and alignment of interests. Consumer Affairs Victoria specifically recommends buyers ask whether their buyer’s agent receives rebates, commissions, discounts or other benefits from third parties or service providers they recommend. Consumer Affairs Victoria. So rather than simply asking whether the service is free, ask: Who pays the adviser if I buy? Who is the agent legally acting for? This is more than a philosophical question. In Victoria, estate agents are subject to professional conduct rules about whose interests they must protect. Regulation 11 of the Estate Agents (Professional Conduct) Regulations 2018 (Vic) requires an estate agent or agent’s representative to act in their principal’s best interests, subject to limited exceptions. The Regulations are made under section 99 of the Estate Agents Act 1980 (Vic). AustLII The same Regulations define the principal as the person who engages the estate agent to act on their behalf. AustLII Victorian professional conduct rules require an estate agent to act in their principal’s best interests. So if someone offers you a “free buyer’s advocate”, ask two separate questions: Who has legally engaged you to act, and who pays you? That means buyers should not simply rely on a marketing description such as “buyer’s advocate” or “buyer adviser”. Ask: Who has legally engaged you? Who is your principal in this transaction? Are you acting under a buyer’s agency authority for me? Who pays your remuneration? Do you receive any other commission or benefit from the seller, developer or builder? Consumer Affairs Victoria also states that a buyer’s agent is a licensed estate agent who acts for the buyer, and that buyer’s agents must act in their client’s best interests. Consumer Affairs Victoria This creates an important distinction between who pays and who the agent legally represents. Although a developer may fund or remunerate an adviser through a commercial arrangement, but the buyer should still establish who the legal principal is and whether the adviser is genuinely acting under an authority for the buyer. Now, ask yourself, if you were the developer, will you pay a sales person or marketer to work against you? If the answer is unclear, ask for it in writing. The five questions I would ask any “free” buyer’s advocate 1. Who pays you? This should have a clear answer. If the adviser receives a commission from the developer, builder, vendor or project marketer, ask them to explain it. The question is not intended as a confrontation. You are simply trying to understand the commercial arrangement behind the advice you are receiving, so you understand what's not mentioned about their services and advice. 2. Do all properties pay you? This may be even more important. Imagine this very real situation. There are 20 suitable properties available. If only five of those properties will pay the adviser a commission, can the adviser genuinely compare all 20? Ask: Can you recommend a property that pays you nothing? If the answer is no, you should understand that what is being offered may be a selection from a panel of available stock, rather than completely unrestricted buyer advocacy. That distinction matters. 3. Does the commission vary between properties? Suppose Developer A pays one amount and Developer B pays considerably more. Ask: Does your remuneration change depending on what I buy? If it does, the buyer should know. The key issue is not simply whether a commission exists, but whether there could be a stronger commercial incentive to recommend one property over another. The answers to questions 2 and 3 is very telling. Are they really a genuine pro-buyer advocacy? Will their recommendations be driven by the commission? And further tainted by the amount of commission they receive? 4. Would you recommend an established property instead? This is a very useful test. Suppose you approach a free adviser wanting a new apartment or townhouse. After reviewing your circumstances, the objectively better decision might actually be an established property. Would the adviser tell you that? Ask: If an established property was better for me than the new developments you represent, would you recommend it? And: Would you still get paid if I bought it? Those answers reveal a lot about the scope of the advice. 5. What happens if the best advice is “buy nothing”? Sometimes the best property decision is not to transact. Perhaps: the market is overheated the available stock is poor the location is unsuitable the developer carries unnecessary risk the property is overpriced your finances are not ready the numbers simply do not work A buyer-side adviser should be commercially capable of saying: Don’t buy this. So ask: If you advise me not to buy anything, do you still get paid? That is one of the simplest tests of alignment. You need to answers to: If I don’t pay you, who does — and who is your legal principal? The first investor’s tax benefits may not exist for the next buyer There is another issue investors should think about when considering new property. A brand-new investment property can have tax advantages associated with new depreciating assets and capital works. But some of those advantages are strongest for the first owner. Under current Australian tax rules, subsequent purchasers of an existing residential rental property generally cannot claim depreciation on certain second-hand depreciating assets that were already installed in the property. That means a new apartment or townhouse can sometimes look more attractive to its first investor than it may look to the investor who eventually buys it from them. And that matters because one day you will probably want to sell. At resale, the property can no longer rely on being “brand new”. The next buyer will judge it against established alternatives based on fundamentals such as: location land component floorplan natural light construction quality owners corporation costs supply of competing properties rental demand scarcity and resale appeal. In other words: Tax treatment can help make a new property attractive to its first investor. It cannot make a mediocre property a good long-term asset. This is another reason the property needs to stand on its own merits. Could higher commissions influence which new properties are recommended? This is where buyers should be particularly careful about incentives. Developments do not necessarily pay identical commissions. A project that is easy to sell may require little external assistance. A property that is harder to move may have stronger incentives available to brokers, marketers or referral channels. So, incentives and the amount of commission is often used to the free buyers agents to promote a certain property. That does not mean every higher-commission property is bad, nor does it mean every developer-funded adviser will recommend poor stock. But it creates an obvious question: If one property pays the adviser substantially more than another, could that affect which property gets recommended? This becomes especially important when the property already has weaker fundamentals — for example: an inferior position within the development poor orientation awkward floorplan oversupply high owners corporation costs compromised outlook excessive investor concentration or an inflated new-build premium. The danger is not just paying too much today. The real cost may appear years later at resale, when the incentives and marketing campaign are gone and the property has to compete in the ordinary established-property market. The next buyer does not care what commission was paid when you bought it. They care what the property is worth then. They will be bothered if the property is not in a compromised location, oversupplied, or low rental demand. That is why buyers should ask not only: “Is this a good new property?” but: “Will this still be a desirable property when it is no longer new?” Who really pay the "Free Buyers Agents"? Are developer commissions built into the property price? Developers will often say that the buyer pays the same price whether they purchase directly or through a referring adviser. That may be true in the sense that the headline purchase price does not change. But it does not answer the most important question: who ultimately funds the commission? In many new developments, referral and sales commissions are paid from the developer’s marketing and sales budget. These costs form part of the overall economics of the project and are ultimately recovered through property sales price. Yes, YOU, the buyer, is ultimately paying for the cost of the commission, even though the "Free" buyers agent is paid by the developer. This can matter even more when the buyer is purchasing with a mortgage. For example, if a $30,000 developer commission is effectively built into the purchase price and financed over a typical 30-year mortgage at 6.5% interest rates, that extra $30,000 would cost about $68,000 in total repayments FROM YOU, including roughly $38,000 hidden in the mortgage interest, if the loan were held for the full term. Suddenly, that free advisor is costing you $68,000 over the 30 year loan. Now, compare this to a typical $15,000 fee you pay for a proper, independent buyers advocate. So while the buyer may be told: “You don’t pay the adviser anything.” the economic reality is usually be very different. The commission may simply be buried inside the cost of the house rather than appearing as a separate invoice. And if that new home price is financed, the buyer may continue paying for it, plus interest, for many years. That is why the relevant question is not simply: “Did I pay anything directly to the adviser?” It is also: “Was the adviser’s commission ultimately funded through the price of the property?” And, just as importantly: “Did the person recommending this property have a financial reason to prefer it over another property?” Those are very different questions — and buyers deserve clear answers to both. Is a developer-paid buyer’s advocate automatically conflicted? Not necessarily. A developer-funded adviser may still provide useful information and professional assistance. They may know the available projects extremely well. They may help buyers understand floorplans, inclusions, construction timelines and purchasing procedures. The issue is that buyers should understand what the adviser is and is not able to recommend. A property adviser can be competent and helpful while still operating inside a restricted commercial model. The problem arises when a buyer believes they are receiving unrestricted independent advice but is actually being shown only properties from which the adviser can earn a commission. That is why disclosure, and understanding what it means, matters. “Buyer-paid” does not automatically mean “good” either This is equally important. Paying a buyer’s advocate yourself does not guarantee good advice. You should still verify: licensing experience local knowledge appraisal methods due-diligence capability fee structure conflicts reviews who you are actually working with whether the advocate will recommend walking away franchise branding - franchise usually have a "preferred" developer they work with. Consumer Affairs Victoria recommends buyers investigate many of these same factors before appointing a buyer’s agent, including experience, whether the business also represents sellers, services covered, fees, professional indemnity insurance and third-party benefits. Consumer Affairs Victoria So the real distinction is not: Free = bad and Paid = good. It is: Do you understand who the adviser represents, how they are paid, and whether their commercial and financial incentives align with your interests? What does “independent” actually mean? “Independent” is one of the most overused words in property marketing. It should mean more than simply putting the word on a website. In Victoria, estate agents have professional obligations to act in their client’s best interests and avoid putting their own interests in conflict with those of the client. Consumer Affairs Victoria also specifically identifies undisclosed commercial interests in recommended suppliers as a potential conflict. Consumer Affairs Victoria In Concierge Buyers Advocates, "Independent" means freedom to recommend what is truely the best fit for the buyer's brief. Our recommendations and advice are not tainted by franchise messaging, commissions, etc. For a buyer, practical independence questions include: Do you sell property? Do you represent vendors? Do developers pay you? Do builders pay you? Do selling agents pay you? Do you receive finance referral commissions? Do you receive conveyancing or property-management referral payments? Does your remuneration change depending on the property I buy? Can you recommend something that pays you nothing? Can you recommend that I buy nothing at all? You should be comfortable with the answers before signing anything. A Simple Example Imagine two properties. Property A A brand-new townhouse. The developer will pay the adviser $30,000 if you buy it. Property B An established townhouse three streets away. It is in a better, matured location, has stronger resale characteristics and is $80,000 cheaper. But the developer will NOT pay the adviser if you buy it. From a quality point of view, Property B is a better asset. Buyers should be going for Property B. But if nobody paying the adviser if you purchase Property B, which property will be presented to you? A genuinely independent buyer adviser should be assessing both and recommending the better one. That does not mean every developer-paid adviser would recommend Property A. It simply illustrates why understanding who and how your advisors are paid matters to you. What should buyers ask before accepting “free” advocacy? Here is the checklist I would use: ☐ Who pays you? ☐ Who is your legal principal? ☐ Am I engaging you under a buyer’s agency authority? ☐ Who pays your fees or commissions? ☐ Do you receive payment from anyone else connected to the transaction? ☐ How much are you paid? ☐ Does that amount vary? ☐ Which properties can you recommend? ☐ Can you recommend properties outside your panel? ☐ Can you recommend established property? ☐ Can you recommend a property that pays you nothing? ☐ Can you recommend that I do not buy? ☐ Do you represent sellers or developers? ☐ Do you receive other referral commissions? ☐ Who is legally acting for me? ☐ What due diligence will actually be performed? ☐ Who determines fair market value? ☐ Are you licensed? ☐ What exactly am I signing? If the answers are clear and you are comfortable with them, you can make an informed decision. If the answers are vague, that is useful information too. How Concierge Buyers Advocates approaches this At Concierge Buyers Advocates, our business model is deliberately buyer-side. We do not represent vendors. We do not sell developer stock. We do not have property sales targets. We are not required to recommend a property simply because it is available or because someone else is paying us better to sell. That matters because sometimes our recommendation is: Buy it. Sometimes: Buy it — but only below this price. And sometimes: Walk away. Independence is valuable only if it gives us the freedom to provide all three answers. This principle is also reflected in how we describe our business publicly: Concierge Buyers Advocates does not represent vendors, sell developer stock or operate property sales targets. Concierge Buyers Advocates Melbourne The bottom line A free buyer’s advocate may be perfectly suitable for some buyers. But “free” should never be the end of the investigation. In fact, “free” should prompt more questions, not fewer. Instead, ask: Who pays them? What can they recommend? What can’t they recommend? Do different properties pay different amounts? Would they recommend something that earns them nothing? Would they tell me not to buy at all? Once you understand those answers, you can decide whether the advice is genuinely aligned with your interests. When you are spending hundreds of thousands—or millions—on a property, the most important question is not whether you can save $20,000 in advisory fees on a $1 million purchase. The more important questions are: Can you trust the advice? What incentives sit behind the recommendation? And what might your adviser not be telling you? Saving $20,000 can look attractive. But if conflicted advice leads you into the wrong property, overpaying, poor resale prospects or a compromised asset, the eventual cost can be many times greater. Free advice can be very expensive if it leads to the wrong decision. Free advice can be very expensive if the commission is built into the house price and you are financing it. Frequently Asked Questions (FAQ): Are free buyer’s advocates really free? The buyer may not pay directly, but the adviser may receive a developer, builder, seller or referral commission. Buyers should ask who pays and whether remuneration affects recommendations. Who pays a free buyer’s advocate? Depending on the business model, payment may come from a developer, builder, project marketer, seller or another service provider. Does a buyer’s agent have to act in the buyer’s best interests? Yes, where the buyer has engaged the estate agent as their principal. Under Regulation 11 of the Estate Agents (Professional Conduct) Regulations 2018 (Vic), an estate agent must act in the principal’s best interests, subject to limited exceptions. The Regulations define the principal as the person who engages the agent to act on their behalf. Does the person paying the commission automatically become the agent’s client? Not necessarily. The key legal concept is who has engaged the agent to act on their behalf. Payment arrangements are still important because they can create incentives or conflicts and influence a recommendation, but buyers should separately establish who the agent’s principal is. Can a developer-paid buyer’s advocate be independent? Potentially, but buyers should establish whether the adviser can recommend properties that pay no commission and whether remuneration varies between projects. Is it legal for a buyer’s agent to receive referral commissions? Commercial arrangements can exist, but relevant disclosure and professional-conduct obligations apply. Buyers should specifically ask about rebates, commissions and third-party benefits. Consumer Affairs Victoria How do I check if a buyer’s advocate is independent? Ask whether they sell property, represent vendors, receive developer/builder/referral payments, and whether those payments influence the properties they can recommend.