Buyers advocate shares secret to know if you’re dream property exists

Buyers advocate Emily Wallace has taken to her social media to call out “delulu” home buyers, showing them how to research what they actually can afford.

Even before the Prime Minister Anthony Albanese called The Coalition “delulu with no solulu,” Melbourne based buyers agent Emily Wallace has used the shortening of the word delusional to describe certain property buyers.

The Wallace Advocates principal posted on social media querying whether Albo had been watching her TikToks, but also to show buyers how to figure out if the property they are searching for actually exists.

“I’ve repeated myself a lot this week,” she said. “So let me share exactly what I tell everybody … when I’m a little bit unsure if they are actually being realistic,” she said. “Here’s how to not be delulu.”

The most helpful data to find out if your dream property actually exists in your price range is ‘sold’ data, which can be easily searched on property listing sites, she said.

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“We only ever rely on sold data because past performance indicates the likelihood of what’s going to happen in the future,” she said.

In the sold section, she said to add in filters of the kind of property you’re looking to purchase, the area and the max budget as well.

“Minimum, you want to find three properties that have sold in your area, in your budget, that had you have been ready with finance, you would have bought,” she said.

She said the examples had to be exactly the same as what you wanted to buy, to the point where if it popped up again, you’d be ready to buy.

“If you’re not planning to buy on a main road, then your example can’t be on a main road, if you don’t want a train running through the back fence then you can’t have a property with a train running through the back fence,” she said. “That’s how you know if what you want exists.”

Ms Wallace showed buyers how they could avoid being “delulu.” Picture: NewsWire / Damian Shaw

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If you couldn’t find three examples in your criteria in the sold data in the past three months, she said there was a “very high chance” you could be “delulu.”

The other possibility was you’re not being flexible on a criteria.

“Maybe you’ve decided you must have two bathrooms, but if you altered it to one, you’d have a lot more choice,” she said.

If you’re looking at a popular or highly priced area, she suggested looking at changing the search to a neighbouring area.

“I often find that people often need a reality check from someone who is objective that’s not your mum, dad, partner or brother,” she said.

“Three sold results, past three months, in your area that if that exact same property popped up again, you’d buy.”

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