No Win – No Charge! Negotiation Strategy Case Study: South Yarra Apartment | January 2019
On January 24th 2019 – Senior Inspector Mike Heathcote was met by a his favourite sound; the delightful ‘Bing!’ which notifies him that a new client is seeking some much needed help!
Client X contacted Building Masters Inspections to inquire about a Building Defect Inspection Report for a property (apartment) that he and his wife were interested in purchasing.
Almost a little too eager to learn more, Senior Inspector Mike Heathcote sent Client X a proposal for the Report together with a price list of inspection servicesand a sample report. Satisfied that Client X would be getting the help they needed in no time, Mike leaned back with a contented smile on his face.
The marvelous menu of inspection services (as we like to call it) includes a revolutionary option for Building Masters to negotiate on the client’s behalf – this is all after the inspection has been done and the defects have been identified and reparation costs completed.
This is a truly superb option for individuals who might appreciate assistance in negotiating the right price for the property in relation to the estimated repair costs. Building Masters Negotiation Service completely removes the need for a client to mediate directly with the real estate agent, instead, giving the responsibility to us as we aim to get you the best price possible.
Back to our story though… after Mike had enthusiastically sent off his proposal, Client X then received it shortly thereafter and accepted the proposal like an absolute champion. The inspection was then booked as soon as possible. Both parties relaxed with a deep sense of satisfaction. Client X, knowing that he was just days away from receiving the unsurpassed expertise of a seasoned professional such as Mike, and Mike knowing beyond a shadow a doubt that he would do everything in his power to fulfill his client’s needs.
The inspection on behalf of Client X was conducted on January 29 – and what a beautiful day for an inspection it was! Finally let loose to do what Mike does best, he bounded off to the property at hand and let the magic begin… Inspecting here, and inspecting there, Mike Heathcote inspected everywhere! And just like that, the report was sent to Client X that very evening.
During his magical, yet meticulously thorough inspection, Mike had identified significant building defects and included the costs for reparation, both of which were included in the Building Defect Report provided to Client X.
Do you remember that revolutionary Negotiation Strategy I mentioned earlier? Well, this is the time it gets put into action. And what a time to shine! Client X was genuinely pleased with the results of the building inspection and felt especially keen to take advantage of Building Masters Negotiation Service to help seal the deal. So Mike was thereby formally appointed to negotiate a lower price for the previously inspected property. A pricethat would more accurately reflect the cost of the anticipated building repairs.
Client X was relieved that he was so easily able to hand over the stress and responsibility to a Building Master who would undoubtedly do everything they could to achieve the most satisfying results possible.
Inspector Mike Heathcote, who was eagerly awaiting his chance to begin the negotiation process, requested that Client X communicate with the Agent. Firstly stating that:
a) He was going to withdraw his interest in the property, and
b) That he had appointed Mike Heathcote of Building Masters Inspections as his representative in the event the vendor was prepared to reduce the purchase price of the property to reflect the cost of defect rectification as indicated in the Building Defect Report
Client X was then asked to have no further communication with the Real Estate Agent.
Mike Heathcote strapped himself in for some serious negotiating. Back and forth, to and fro they went. The Agent was not going to go down without a fight, but Mike stood his ground and persevered. Wiping the sweat from his brow, the Agent finally admitted defeat. Mike had ingeniously battled his way to victory!
A lower price was negotiated and the sale proceeded accordingly, just as Mike was riding off into the sunset on a shining white stallion.
Client X could not have been more grateful to Mike Heathcote and was eager to refer Building Masters Inspections and their Negotiation Strategy to friends and family, because… how can you ignore an outcome as successful as that?!
The entire process was completed in under one week.
So how much did Building Masters save Client X in the end? Well, interestingly enough, Client X was in fact a mathematics lecturer specialising in investment strategies. He calculated that for a fee of a few hundred dollars, the MANY THOUSANDS OF DOLLARS in final savings on the purchase price of the apartmentwas an exceptional and first-rate outcome – and the fee was not even payable until the Conveyancer finalised the Contract of Sale and settled with loan funds – that really was “no pain -only gain.”
No one negotiates quite as effectively as the Inspection Company whose name is on the Defect Report so Building Masters highly recommends the use of our outstanding Negotiation Service.
Mike Heathcote is the founder of Building Masters Inspections and a veteran builder with decades of experience. Utilising his industry knowledge, Mike and his team of experienced Builders provide an Inspection Service offering expert opinion on the true condition of buildings, including estimated repair costs, helping home buyers find their perfect property, Melbourne wide.