10 Lesson from 250+ realestate sales and buying deals
10 Key Lessons from Over 15 Years in Property Buying and Selling
If you’re navigating the complexities of the property market, a well-grounded approach is essential. With over 15 years of experience in property—from town planning to sales, auctioneering, and buyer advocacy—I’ve seen the market from every angle. Here, I’ll share some of the most important lessons I’ve learned through more than 250 real estate transactions. Whether you’re buying, selling, or investing, these strategies will help you find the best opportunities and make better-informed decisions.
1. Take Initiative—Don’t Wait for the Perfect Property to Appear
One of the most critical lessons in property is that you have to make things happen. Waiting for the perfect listing on a property website may mean missing out on valuable opportunities. Instead, look actively, build local relationships, and hunt for off-market properties. These often-overlooked gems can deliver significant value, and they’re rarely found by those who rely solely on public listings.
“The best deals rarely appear on public listings,” says Cate Bakos, a respected buyer’s advocate. To uncover these hidden opportunities, keep an ear to the ground, talk to agents, and stay proactive.
2. Do Your Due Diligence Better Than Anyone Else
Due diligence is a non-negotiable part of successful property buying. Research recent sales, compare similar properties, and understand the nuances of your chosen location. When negotiations arise, your preparation can give you a significant edge, helping you spot overpricing or unexpected advantages.
A strong foundation of knowledge not only builds confidence but also strengthens your position at the negotiation table. The more thorough you are, the more likely you’ll be to secure a property on favourable terms.
3. Don’t Just Accept the Agent’s Word—Push Back
A crucial lesson in real estate is to question what agents tell you. If an agent insists, “The seller won’t consider offers before auction,” remember it’s within your rights to present an offer anyway. If your offer is rejected, ask for it to be submitted again. Being assertive can open doors others may miss, especially in a competitive market.
In property transactions, pushing back respectfully but confidently can often make a difference in your favour. It’s a simple strategy that may yield surprising results.
4. Relationships Matter
Your network is an invaluable resource in property. From agents to developers and other local contacts, a strong network can give you insights and early access to off-market properties. Nurturing these relationships pays off by providing timely information and helping you navigate transactions more smoothly.
Investing in relationships not only gives you access to opportunities but also builds a support system. The right connections can be instrumental when you’re looking for leads, advice, or introductions within the industry.
5. Emotions Have Their Place, But Stay Level-Headed
The emotional side of property buying can be challenging to manage. Look for properties with emotional appeal, as these tend to hold long-term value. But remember to keep your own emotions in check during the buying process. Staying objective helps you make investment decisions based on financial sense rather than impulse, which will serve you well in the long run.
It’s easy to let excitement steer decisions, but a calm and strategic approach will help you avoid pitfalls and make choices that support your financial goals.
6. Remember – Property Markets Are Cyclical
One of the most important lessons I’ve learned is that property markets move in cycles. When the market appears gloomy, remember that downturns are often followed by recoveries. Many successful investors make their move when others are hesitant, taking advantage of lower prices.
As Ray Dalio puts it, market cycles are a natural rhythm of highs and lows. Being prepared for cycles helps you make the most of opportunities others might miss during a downturn.
7. Property Is a Long-Term Game
If you’re in property for quick profits, you’re treading on risky ground. Short-term gains may occur, but they’re often hard to sustain, especially for newer investors. Those who build lasting success in property usually take a long-term perspective, focusing on sustainable growth over time.
Warren Buffet’s advice applies here: “It’s about time in the market, not timing the market.” With a long-term outlook, you can ride out short-term fluctuations and build a robust portfolio.
8. Seek Expert Advice When You Need It
Property is a continuous learning journey, and even seasoned experts seek advice when needed. Whether you’re uncertain about pricing, renovation, or market trends, don’t hesitate to reach out to a professional. Consulting experts can help you avoid costly errors and refine your strategy.
The most successful investors are those who are open to learning. Remember, there’s no shame in asking questions or seeking expert insights, especially in an industry as complex as property.
9. Take Action—Don’t Let Indecision Hold You Back
Procrastination can be a costly mistake in property. It’s easy to find reasons not to buy, particularly in uncertain markets. However, the best buyers don’t wait for the perfect time—they make informed decisions and act. The market moves quickly, and waiting indefinitely may mean missing out on valuable growth opportunities.
Taking action, even when conditions aren’t ideal, often leads to better outcomes than holding back indefinitely.
10. Property Isn’t Everything—Keep Perspective
Lastly, remember that property is only a part of your life. Over the years, I’ve seen clients—and even myself—become so consumed by the property world that it overshadows family, friendships, and personal well-being. While property investment is a powerful wealth-building tool, it should ultimately serve your life, not dominate it.
Keep perspective and let property be a tool for achieving a fulfilling life rather than a source of stress.
By keeping these lessons in mind, you’ll be better prepared to navigate the property market strategically. Whether you’re buying, selling, or investing, these principles will help you approach each step confidently, allowing you to make decisions that align with your long-term goals. Happy property hunting!
