THE LOCAL FILES: MICHAEL SIER
Buying a home can be tough. The good properties have strong competition and often prices go higher than you expect. Too many weekends are spent inspecting homes only to repeatedly get outbid or out priced. And so, months and sometimes years pass by where many buyers feel they are constantly missing out on quality homes.
So how about engaging a Buyer’s Advocate? Are you curious what they can achieve for you?
BuyerX is a dynamic team of former selling agent directors and principals who offer a wealth of experience in negotiations and understanding the art of the real estate deal. They have an in-depth knowledge of how to work with selling agents, how to uncover off market properties and what to look for in a home or investment and how it will suit you best. As area aficionados, expert negotiators and off market specialists, they develop quality relationships with the best real estate agents and can often get access to off-market properties not readily available to the public.
Michael Sier is a licensed Mornington Peninsula Buyers Advocate with BuyerX - specialising in the family home and holiday house markets along the bay. Being a Mt Martha local with a family of 3 children, he is immersed in the Mornington Peninsula community. Having studied a Bachelor of Information Technology, Michael also holds a full Victorian Real Estate Agent licence and is an active property investor with 15 years in the real estate industry working alongside some of the most prominent buyer advocates in Australia. Michael also formerly built, and sold, a well-known and award-winning national property advisory & property management business, which achieved more than 1500 property purchases.
Explains Michael, “BuyerX is a buyer’s advocacy agency for owner-occupiers, usually Melbourne-based, with a focus on people upgrading the family home, relocating for a sea-change or even buying a holiday home that they can also rent out on Airbnb.”
“We search the area in question for all properties that suit our client’s criteria, across all real estate agents. We inspect each of the properties, perform due diligence to ensure they are as described and ensure that the properties we put forward not only suit their current criteria but that they fulfil any future plans they may have without hindrance (town planning, zoning, overlay issues etc). We are tasked with finding our clients a property that will give them the outcome they are looking for, for the long term.”
“The majority of our clients are time-poor professionals, both employees and business owners, who find that getting to the Mornington Peninsula to inspect properties proves difficult. And often they are unfamiliar with the area. We explain to our clients why prices can vary so greatly within a given suburb and guide them as to the right pockets to look for in their chosen area.”
BuyerX works with you to determine property suitability and fair value before engaging with the relevant real estate agent. Their specialised reporting system provides you with an in-depth and diligent analysis of your target property in an easy-to-understand way. And if you choose they can also negotiate directly with agents to obtain the best price and terms on your behalf and can also bid on auction day.
In terms of the real estate market on the Mornington Peninsula, Michael explains, “We’ve been through the highs and lows of a roller coaster 12 months. There has been a monumental shift in mindset that places more emphasis on family, lifestyle and work-life balance. This in turn has made the Mornington Peninsula one of the most desired parts of Australia to live. No longer is the 1-1.5hr commute seen as prohibitive for city workers now that the full-time office desk role is less of a requirement. The mixture of country and coast, affordability, space and lifestyle, yet still being able to retain city jobs, has driven a huge surge in sea change buyers.”
“The other huge shift has been the demand for holiday homes since overseas travel has been temporarily suspended. The ability to generate short term rental income through Airbnb and Stayz, while also having personal use, coupled with the lowest interest rates in history, has made the prospect of holidays on the Mornington Peninsula even more attractive than usual.”
“The only problem with an increased number of buyers, is that there needs to be enough supply of homes for sale to keep the market in equilibrium. Without enough supply, the only outcome is price rises between competing buyers. What is left is a stock shortage that is being largely bought by out-of-town buyers, without a house to put on the market once they’ve bought. Quite simply, it’s a one-dimensional market where sellers hold all the power. Properties that have an aspirational aspect are the most sought after - a view of the water or a walk to the beach, a tastefully renovated or staged home that exhibits wow. These homes are selling within a week, some within a matter of days, and now that public open for inspections are allowed again, there’s lines out the front yards and up the street to get into some of these homes.”
So Michael is here to help you cut through the noise, identify exactly what you are looking for and advise on the best locations for you. And then find the ideal property that will achieve your dream, at your dream price.
“Please feel free to give me a call and talk through your plans and objectives. I will give you a brief overview of the market in that location you are seeking, and help you work out the best course of action to take for your budget and requirements. When you call me, you are speaking to a real person who knows the market and I will give you genuine honest feedback on the likelihood of achieving the outcome you want.”
Mobile: 0417 543 876