Why A Bad Property Team Will Ruin Your Property Purchase

Buying a home is one of the most exciting—and nerve-wracking—experiences you’ll ever go through. It’s easy to get caught up in the thrill of finding “the one,” but having the right property team around you is just as important as finding the perfect home.

I’ve seen it all, from deals that sailed through smoothly to ones that nearly fell apart because the team wasn’t up to scratch. Here’s a recent story that shows how a property team can make or break a purchase.

A couple approached me recently, eager to buy their first investment property. They were excited, nervous, and unaware of the potential pitfalls that could come their way. Naturally, I walked them through the different scenarios: what happens if you buy at auction versus off-market, the importance of going unconditional, and the role of the 66W form in waiving the cooling-off period. But here’s where things got tricky.

When I asked if they had a preferred solicitor, they mentioned a friend who worked at a law firm. “He’s got us covered,” they assured me. Now, I’m all for trusting your friends, but when it comes to property, experience and expertise trump familiarity every time!

Within weeks I had found them an excellent off market property, and I knew we’d have to pounce on it to avoid missing out. The property was a unicorn and it wasn’t going to be available for long. 

The first sign of trouble was when the contract was sent to the solicitor. It was the evening, and we were expecting to make a move the next day. But instead of reviewing the contract promptly, this solicitor responded, “It’s my birthday so I’ll look at it tomorrow.”

Tomorrow!? This solicitor works in real estate, and things just don’t work like that. I sleep with one eye open!
If the solicitor had reviewed and advised on any changes early the next morning, as I would have expected them to, I could have forgiven them, however the contract review didn’t come back until the afternoon. Sure enough, another offer had come in, so we needed to make an unconditional offer quickly to stay in the game. But instead of getting things done, the solicitor decided to dig in his heels and refused to provide a 66W because “it’s not an auction”. Uh-oh, more alarm bells. He clearly hadn’t done an off-market purchase before. 

The broker didn’t help in the situation either. I always tell my clients to keep their broker in the loop, making sure they’re ready to give the green light on the finance. This time was no different, but the broker insisted on getting unconditional approval, which isn’t even possible until the contract is signed and the valuation is done. Again, we were up against the clock, and their advice led us down the wrong path.

By this point, the agent was losing confidence in our ability to come to the table with the goods to secure the deal, and I don’t blame him. He was expecting the 66W form to make our offer unconditional, after all the other party was able to provide this and ready to commit, and without it, we were at serious risk of losing the deal. I had to step in and smooth things over with the agent, leveraging the trust we’d built over the years. I had bought previously from this agent and he knew that I would be able to ‘fix’ this situation and get it sorted. 

Thankfully, our relationship saved the day. We finally got everyone on the same page and stayed in the running. Despite all the obstacles, my clients ultimately secured the property. But it was a close call—too close!

So, what’s the lesson here? When buying a property, especially in a competitive Sydney market, you need a team that knows what they’re doing and is all on the same page. That means a solicitor who understands local property laws (and a need for urgency!), a broker who can act quickly and give sound advice, and a buyer’s agent who’s been through it all and can guide you through the process.

Please don’t rely on a friend of a friend or someone who’s “helped us out before”. The right team will keep things moving, make sure you’re protected, and ultimately, help you close the deal without unnecessary stress.

Your home purchase is a big deal—make sure your property team treats it that way.

Ready to make a move? I’ve been ‘Team Captain’ for hundreds of purchases, and I’d be happy to build you a winning property-buying team with some serious real estate players.