BY Mal James 14th February 2015
At 6.00 pm on Saturday, on our first auction day of the year for Inner East and Bayside we have been to thirteen auctions – all had bidders and all sold. Bidderman was 3. No emphasis on stats today as there were very few $M+ auctions and this was a small sample. Inner Melbourne’s big auction games [...]
BY Mal James 4th January 2015
In 2020 we at Marshall White are matching $ for $ your donation to reduce Melbourne Homelessness.
Quick Facts
Melbourne census figures continue to show increases in our Melbourne Homeless population. Now over 25,000
40% are caused by lack of housing and 40% are our young under 25
From on the streets, to boarding houses to couch surfing it’s [...]
BY Mal James 22nd November 2014
The market, over all today, was still hot. Bidderman was up again at 2.2 bidders per auction.
However Greater Bayside wasn’t necessarily the reason why.
Port Phillip Council was the leader in biggest ‘pass-ins’ this weekend with three properties passing in over $2,500,000.
27 Kerferd Road, Albert Park (Michael Szulc, Cayzer Real Estate)
5 Charnwood Road, St Kilda (John [...]
BY Mal James 22nd November 2014
At 6.00 pm on Saturday, on a day where there were around 150 $1m+ scheduled auctions across Inner East and Bayside, the James Clearance Rate was 71% on the 38 auctions we covered. The Weekly Review Bidderman, our bidders per auction measurement was at 2.2. After a slight breather last week, it looks like the year [...]
BY Mal James 22nd November 2014
Week Ending November 22
The Very Top End of Town in 2014
Strong, very strong. In fact ultra strong finish to the year and so much is happening behind the scenes – off market. To date this year we have bought more off markets than in any other year EVER.
In the last month we have purchased 13 [...]
BY Mal James 15th November 2014
At 6.00 pm on Saturday, the James Clearance Rate for Melbourne’s $M+ property was 66% on the 32 auctions we covered. The Weekly Review Bidderman, our bidders per auction measurement was at 1.9. Both Clearance Rates and Bidderman are down on the results we saw prior to the Melbourne Cup.
Overall Summary of Melbourne’s Million Dollar-Plus Auctions:
Ducks ($M+ [...]
BY Mal James 25th October 2014
Week Ending Saturday, October 25
James Buyer Advocates are busy:
Number of auction homes involved in buying this week was well into double figures.
Our mid week activity securing homes BEFORE AUCTION for clients was intense. At the time of writing we had bought before in Toorak (Michael Armstrong), Mont Albert North (Mark Read) and Glen Iris (Paul [...]
BY Mal James 25th October 2014
At 6.00 pm on Saturday, the James Clearance Rate for Melbourne’s $M+ property was 77% on the 43 auctions we covered. The Weekly Review Bidderman, our bidders per auction measurement was at 2.1. The crowds were MASSIVE.
Very strong figures when you consider this was a Super, Super Saturday. For example, today was three and half times the [...]
BY Mal James 18th October 2014
At 6.00 pm on Saturday, the James Clearance Rate for Melbourne’s $M+ property was 82% on the 38 auctions we covered. The Weekly Review Bidderman, our bidders per auction measurement was at 2.3. Today was a Super Saturday – meaning these numbers have not been created by stock shortages. In fact there is a [...]
BY Mal James 11th October 2014
At 6.00 pm on Saturday, the James Clearance Rate for Melbourne’s $M+ property was 66% on the 32 auctions we covered. The Weekly Review Bidderman, our bidders per auction measurement was at 2.3. Both Clearance and Bidderman rates are solid as we head into two big auction weekends before the Melbourne Cup.
How good is [...]
BY Mal James 11th October 2014
So the talk is over, now its time to walk to the walk.
For 20 minutes a week over the last 7 weeks of this series you have been given the keys to a happy homebuying life.
You have been given a million dollar gift as promised.
Question is; will you take that gift, open the door and [...]
BY Mal James 4th October 2014
The Age. Weekly Review, James Buyer Advocates Young Homebuyer is an 8 part series designed to take young homebuyers through the entire homebuying process from the inside.
This week is the second last. The Pointy End. The Money Part. The Negotiation.
Are you a good Negotiator?
Why not take the Harvey Norman test?
Before you take on the $800,000 negotiation [...]
BY Mal James 29th September 2014
This week we have gone practical in the quest for a million dollar good home buying decision. This is a supplementary article to Article 5 on values in The Age, Weekly Review, James Buyer Advocates eight article series – Young Homebuyers Guide.
How do we put a number to our value opinion?
In today’s modern society we [...]
BY Mal James 29th September 2014
The Age. Weekly Review, James Buyer Advocates Young Homebuyer series is designed to take homebuyers through the entire homebuying process from the inside.
Today in our young buyer series we are talking about VALUES and how understanding the true nature of value will put a fair chunk of that promised $1,000,000 into your back pocket.
Apartment: In 2000 [...]
BY Mal James 21st September 2014
The Age. Weekly Review, James Buyer Advocates Young Homebuyer series is designed to take homebuyers through the entire homebuying process from the inside. The article series has become the biggest read online series of its type. It has been been published throughout Australia and internationally. It continues on from James Home Ratings – an industry standard in [...]
Whether you are 30, 45 or over 60 James Buyer Advocates can show you (anybody) how to:
- put a million dollars in your back pocket by making good, but very simple home buying decisions
- live happier lives by being a happier home. (Harvard School of Public Health)
- secure homes against the odds or secure homes when you absolutely have to.
We are a government licensed buyer advocates/agents.
James Buyer Advocates has 4 clear underlying principles:
Belief: Good Plan – Good Processes – Good Decisions – Good Outcomes
Purpose: To make a positive difference by matching perfect buyers with perfect homes, perfectly.
Ethic: Do unto others as you would like done unto you. And we say to all our advocates. You are the sum of your actions and we are the sum of your actions.
Way: A balanced way forward is enough.
Good Buyer Process and Good Decision Making is what we are all about.
G’day Mal James is my name and I’m a father, Buddhist (sort of), vegan (mostly), Collingwood supporter (always) and founder of James Buyer Advocates. I live in a compound of 3 homes in Inner Melbourne with my parents, children and wife – it’s an interesting way to live and I have lived here for 23 years.
I have been involved in buying over 1000 homes, my first in 1985; which was for myself and a disaster (wrong property, wrong position, wrong price). It forced me to think about buying a better way, which in turn lead to the patented buyer industry standard James Home Ratings.
Real Deals we have walked over broken glass for:
- $400,000 savings in 72 hours at a pass-in
- $1,000,000 saving (not once but twice on pre auction offers NOT being made)
- $230,000 saving by not opening our mouth.
- Great homes that meet clients stated outcomes
- An $8,000 saving that took almost 6 hours to negotiate after an auction. Not much hey – it was my client’s $8,000 not mine
Real Deals we walked away from:
- Conflict: A potential client was referred to us, rang us and wished to engage us to buy a home for $8,000,000 in Toorak. We already had an existing client, although we knew our existing client didn’t have enough $. Nonetheless we said no to the potential client who went and bought the home. We bought for our existing client at $4,000,000 in Bayside at a later time.
- High Price: We were asked for price valuations on a $5,500,000 home in Hawthorn East. We gave them and negotiated for 8 months. We recommended walking away. After 12 months that home is still for sale and our client bought another home (without us) and we are OK about that. Their written referral is in our testimonials.
- No Client Value Add: We “sacked ourselves” on a $4,000,000 and a $3,000,000 recently as we felt whatever we were doing wasn’t providing any value to them and if we don’t add value we don’t want a fee.
- Wrong Home: We are not “yes” men/women and if you ask us our opinion on a home in relation to your stated outcomes then we will give it. If that opinion offends you to such a degree that you leave, then we accept that as a cost of ethical business. This comment has nothing to do with “good taste” – we are not the arbiters of good taste, you are.
Guides we have given to our great writers, thinkers, doctors, scientists, movie stars, sports people, business people and mums who have become clients.
- History repeats itself unless you break the cycle
- Good decisions and bad decisions take the same amount of time and angst – only the quality of the prep is different.
- Time heals or hides nothing in Melbourne property, it only accentuates.
- No definition of value maintains its rigor for all men and women accept value to you.
- In negotiation the closer you are, the more you talk about money and the more you talk about money the further you drift away from getting what you really want.
I can give younger (and older) people $1million for free if they want it.
In 2014 I was asked to write a series of 7 articles for The Age, Domain and The Weekly Review to help young homebuyers on life’s journey. The theme I chose was put a million dollars in your pocket by doing nothing else other than making a good decision.
Young Apartment Buyer
In 2000 a young home buyer could have bought an apartment in Docklands at 15 Caravel Lane for $507,500 and resold it for $576,000 in 2014.
Young Inner Melbourne Buyer
Around 2000 you, as a young home buyer could have spent similar money on a family home in Celia Street Glen Iris $493,000 and sold again in 2014 for $1,500,000.
That’s a million dollars – gratis.
Series can be found at click here:
http://www.theweeklyreview.com.au/property/news/10242-young-buyers-guide-week-6/#.VDhCmtSUddU
Here would be my opening conversation lines for other buyers.
Downsizers - Is the sqm rate $8,300 or $12,100 and did you measure the home to find the claimed 220 sqm was actually 180 sqm making that a $326,000 (mis)calculation.
Growing Families - Good homebuying is cheaper than divorce and at 1% I’m cheaper than a lawyer.
Single Women - Let me show you why a car park is so important on financial and emotional fronts.
Overseas - How would I go buying a home in the area you are living in now with a blindfold on?
Divorced Men - You need a rock to rebalance on – but quite possibly that rock is not a gem
Trophy Hunters - Who came second in the 2012 Brownlow.
Investors - You’re boring and I’m boring and that’s the type of ideal investment result we will produce together.
Fees, money, worth?
I am probably very much like you – I would never pay somebody to do a job I could do myself (well) and I would never agree to a fee where I saw value provided as being less than the fee. I’m sure the hundred or so clients of ours felt exactly the same as you last year before they engaged us and after they paid us.
Buyers engage me to buy well for them and I do on many occasions. Each year I buy between 50 and 100 homes. In early 2014 James Buyer Advocates had an 84% success rate for our clients – yet we pursued less than 1% of the homes we assessed.
At James we don’t have monthly budgets, growth targets or bonus schemes. What we have is peer review, mindfulness, rigorous training programmes, negotiation councils, meaningful work and client agreements that state if you (the client) are not happy then you can stop at anytime (no charge if we haven’t found a home).
All our co-workers are paid above industry averages.
Personally I’m all about doing a job I love and I’d like to work until I’m 83 if in a healthy state. I don’t believe in superannuation, turnover targets nor maximising profits. But I do believe in planning and going for it. I try and meditate regularly and encourage all our co-workers to work on average 38-42 hours per week with around 10 weeks holiday a year AND to be in balance with themselves and their family while still maintaining a healthy edge for “game days”.
What and where over $1m do we buy
James Buyer Advocates’ geographical and financial focus is $M+ Inner Melbourne, however one of our more intricate purchases was the sourcing and purchasing of land for Torquay Council for $15 million and then getting it through various committees and multiple levels of local and state governments – in other words the selection, values and deal stood up to mass scrutiny. And guess what, the Torquay CEO hired us off our website, so you can too.
I personally have bought a number of homes over $10million in Boroondara, Bayside and Stonnington, but my “sweet spot” is the family home in the $2m to $6m range where each week I buy (or pass) on behalf of professionals, doctors in particular, both on and off market (unadvertised). I much prefer this kind of emotional transaction to buying an investment property – but I do buy a number of them each year.
Having said that we get much of our work through personal referral – unfortunately repeat client business is slow as most seem to be happy in their homes and don ‘t want to buy another – how thoughtless of them.
While a number of our negotiations and pricing estimates are in public situations such as auction; there is also a large number that happen away from gaze of the public where our involvement is unknown (off markets, expressions of interest).
I/we act for overseas (expats) and local clients and people of all nationalities including many non English speaking clients – although I get help as my Chinese, Spanish, French or Indian is not that good. Siento. 對不起. Désolé. खेद
Relationships
Agents - I have excellent working relationships with all key selling agency directors – as it simply doesn’t make sense not to. Ask them yourself.
Old school tie - Dangerous and that’s coming from a grammar boy. Recommendations based on performance – yes. Recommendations solely based on Old school ties or friends – no.
The cost to you is often way too high.
Negotiation
OK how would I negotiate a better deal for our two young homebuyers
Young Apartment Buyer who bought in 2000, an apartment in Docklands at 15 Caravel Lane for $507,500 and resold it for $576,000 in 2014.
Young Inner Melbourne Buyer who spent similar money in 2000 on a family home in Celia Street Glen Iris $493,000 and sold again in 2014 for $1,500,000.
How about this? If with some brilliant negotiation you could have got the Caravel apartment for $400,000 then would Caravel Lane have been a good negotiation?
This is how we would best negotiate Caravel Lane – we wouldn’t.
This is how we’d best negotiate Celia St – we’d get it for a client, even if it meant paying a bit extra.
Finally if you’ve read this far then you deserve from me a coffee or a juice.
My work mobile is 0408 107 988 or my public email is
mal@james.net.au or if you see me in the hat and suit just come up and say hello.
We can meet if it makes sense to you. I’ll toss you for the coffee – see I can be frugal.
Lets sit down together and really understand your PPP’s (price, property, position) requirements and how they can better be FFF’d (Five year, flexible, future proofed) to your benefit.
Thank you for your time
Mal James
James Buyer Advocates promises if you contact us
We will not
- Pass your details to anybody, without your express permission – we promise.
- Follow you up or continue to ring you unless you want us to – we promise.
- James has a no database and no email policy. If you ring us and you feel we are not for you, then you will not go onto our database (unless you want to) – we promise.
We will
- Tell you if we have an existing client on a home before you tell us anything - we promise.
- Talk to you openly about values, quality, and negotiations on the home you ring us about – we promise.
- Before you decide to use us, give you a written quote of our fees. We will never charge more than our written quote – we promise.
My work mobile is 0408 107 988 or my public email is
mal@james.net.au or if you see me in the hat and suit just come up and say hello.