After experiencing a high-performing property market across the last 12 months, one Sydney buyer’s agent is encouraging property investors and buyers to act now.
Get RARE Properties founder and buyer’s agent Rasti Vaibhav (pictured), who is based at North Curl Curl, said he was still finding many great property opportunities for his clients off the back of three consecutive interest rate rises.
“Most property markets across the country have shifted from a sellers’ market to a buyers’ market after the three consecutive interest rate rises,” Vaibhav said.
“The change in markets has created an opportunity for me to go hard with negotiations for my clients. I am finding people are getting caught up with media hype and interest rate speculations, so educating my clients around interest rates normalising rather than rising is very important.”
The author of Property Wealth Blueprint, a guide to building wealth through investing in property, said as a buyer’s agent, it was his job to manage his clients’ risk around investing in property.
“My mission is to educate and inspire people to regain control of their finances and property is just one of the ways,” he said.
“The Australian property market is stable, with many smaller stable markets across the country.”
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Vaibhav said he has found more capital growth opportunities for his longer-term investment clients in recent months.
“I always say to my clients it is important to invest in your future and focus on the possible rental return of a real estate opportunity. Education and a long-term vision needs to be very clear,” he said. “In a rising interest rate environment, I tell my clients their serviceability is impacted and their cash flow might be changing.”
Vaibhav travels across Australia looking for suitable properties to purchase on behalf of his clients.
“Regional areas are popular from an affordability point of view, especially if the local economy is performing well too,” he said. “It always comes back to supply and demand, especially as people who escaped from the cities during the last two-and-a-half years are now deciding to return.”
Vaibhav said he liked to inspire his clients investing in property.
“It always starts with asking why – why build wealth?,” he said. “It is about following the herd mentality, following friends and family. Consider your network and execute that.”
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Vaibhav said many clients he was currently working with had been waiting for property markets to soften so that he had more negotiation power when it came to purchase price.
“The market sentiment I am hearing from clients at the moment is should I wait longer, will the market be different soon,” he said. “My advice to them now is to take advantage of the low interest rates on offer and look at current property opportunities now. I tell my clients to be prepared financially, mentally and physically for when the right property hits the market. At the end of the day, buying the right property needs to be a calculated decision.”
Vaibhav said mortgage brokers were invaluable to clients trying to purchase property in the current climate.
“Brokers work so hard and as a buyer’s agent, I cannot do what I do without their support. It is a two-prong approach with a broker and buyer’s agent working together for their client,” he said. “Having two like-minded businesses makes for a solid team effort to help get the transaction over the line.”
