The Deal That Almost Broke Me!
Sydney real estate is a tough gig!
Messages start at 6 AM, and phone calls often stretch until 9 or 10 PM. When you and your clients agree to pursue a property, it’s game on—there’s no time to waste. Honestly, I thrive under that pressure.
But last week, a deal nearly broke me. It was five days of one step forward, two steps back.
The scammers…
The scariest moment came when the sales agent’s emails were hacked in an attempt to provide fake trust account details for the deposit. I always verify trust account details verbally, but witnessing a scam unfold in real-time was unsettling. The scammers intercepted the agent's emails and sent me fraudulent messages, claiming there was a different account for larger amounts. I knew this was false, but I can easily see how someone could lose $70,000 in a blink.
The scam email which hacked into the ongoing email thread with the agent but it was now coming from a scam gmail account
My clients solicitor nearly lost us the deal…
Another frustration arose from the lack of urgency from my client’s solicitor. As a former property solicitor, I understand that prospective purchases often fall lower on the priority list. However, this can be a downside of working with small operators. When you want to buy a property, you need that contract review done yesterday! The property was nearly sold to someone else before the solicitor even opened our contract, while I was frantically begging the agent for more time.
The vendor’s solicitor was way out of line…
And then there was the vendor’s solicitor. Despite buyer's agents being recognized on the standard NSW sale contract for over a decade, he was convinced I was trying to deceive the selling agent out of her commission. My client’s solicitor and I were both at a loss. Buyer’s agents are now standard practice, and his abusive communication was completely unwarranted.
We were about to be gazumped…
With the looming risk of being gazumped, my anxiety hit overdrive. We had been verbally told our offer was accepted, but without signed contracts, there was a constant threat of the agent accepting a higher bid. I knew other parties were looking to make better offers, and I was doing my best to keep the agent at bay. It wasn’t my fault there was an email scam or that the vendor’s solicitor had lost his cool—I just wanted to secure a signed contract!
We exchanged!
Finally, five days after our first inspection and 30 hours after our verbal offer was accepted, we celebrated with exchanged contracts. We secured the property at a price well below my clients' expectations, which felt amazing!
In hindsight, it might not seem so bad because we got the right outcome. If the deal had fallen through, I would have been shattered for my clients.
I can’t stress enough that time is a superpower in Sydney real estate. Pair that with a team of super professionals, and you’re well on your way to success!
To find out more about using a buyer’s agent, click here.
