If you’ve been on the Perth property hunt lately you’ve likely felt the pressure – homes selling within days, multiple offers, rising competition and prices that seem to inch higher every week. A tight real estate market can be challenging, but it doesn’t mean your home ownership goals are out of reach. Read on for our best advice for buyers looking to secure a property in today’s competitive landscape.

Look beyond the obvious
When stock is tight, it pays to be flexible. Consider neighbouring suburbs, slightly smaller footprints, or homes that may need light cosmetic upgrades. The perfect home may not look perfect on day one, but seeing its potential is often where the real value lies.

Get your finances in order
Before you even start attending home opens, make sure your finance is rock solid. Speak to your broker or lender early, have your pre-approval ready to go, and know exactly what you can afford. Sellers favour buyers who are prepared and able to move quickly – being finance-ready puts you at the front of the pack. Importantly – don’t present a cash offer if you need finance as if your finance falls through, you could forfeit your deposit and potentially face legal action.
As an aside, if you’re looking for a broker, our boutique mortgage broking business, The Perth property Co. Finance can help you finance your home.

Strengthen your offer strategically
Price is important, but it’s not the only thing sellers consider. Clean, uncomplicated terms, flexible settlement dates, or a strong deposit can give your offer a competitive edge. Ask the agent which things matter most for the specific property you’re targeting.

Move quickly (but not rashly)
In a fast-moving market, hesitation can cost you and availability is key. Make the time to attend home opens or have someone go through for you – many properties aren’t lasting into a second week. If a home ticks your boxes, let the agent know you’re interested, while staying grounded in your budget and non-negotiables.

In a competitive market, understanding the process – and acting decisively when the opportunity arises – can make all the difference. If you’re invited to amend or improve your offer in a multiple-offer situation, take that chance. Once terms are formally presented to a seller, they can only negotiate with one party at a time. If they open negotiations with someone else, your window may close.

Don’t make an offer without viewing the property (or having someone you trust view it)
It’s a major purchase and relying solely on photos is a red flag for agents and risky for you. If a seller accepts your offer, takes the property off the market, and you later change your mind after seeing it, it creates unnecessary complications for everyone involved.

We’ve recently seen how misunderstandings of the process can lead to frustration. One buyer, who missed out despite clear verbal and written explanations and multiple opportunities to strengthen their offer, unfortunately left us a negative review. Another accused us of favouring higher offers after claiming their friends were also bidding — despite our strict adherence to procedure. We’ve since reconfirmed with REIWA that our processes align with legal and ethical requirements.

Make sure to ask the agent the right questions
It’s not appropriate for an agent to tell you what you “need to offer” to secure a home and you shouldn’t ask them to. Instead, base your offer on the price guide and the feedback you’ve received, then ask the agent whether your offer is considered competitive.

Under the ACL and the Code of Conduct, agents cannot disclose the specifics of competing offers. They can, however, give general guidance – for example, whether there are multiple offers, or if yours is sitting somewhere in the middle of the pack. If you’re invited to revise or improve your offer, that’s the moment to act.

Bribes have no place in real estate
We’ve been offered cash incentives ($5,000 in one case), to “prioritise” a buyer’s offer, and another agent that we know was offered $10,000 recently with the same intention. This behaviour is not only inappropriate but also a clear breach of the Real Estate and Business Agents and Sales Representatives Code of Conduct 2016, and likely Australian Consumer Law. No ethical agent will – or legally can – entertain it.

A competitive market demands preparation, flexibility, and confidence but with the right approach, you can find a home you love. If you’re planning to buy in the coming months, we’re here to guide you through every step. If you’d like personalised advice, feel free to reach out anytime.