With the AFL Grand Final fast approaching, Oren Flamm, General Manager at Hodges Caulfield and avid footy fan gives us some key learnings from the game.
Aussie Rules and property don’t sound like the most likely of bedfellows, but there are big takeaways we can glean from the much-heralded game.
Rookies vs. Veterans
Being able to read a crowd quickly is an important skill for footy players as much as it is first homebuyers. Each auction will have different types of buyers in any market, from the young first homebuyer to the seasoned investor. Knowing how to play their cards at a fast-paced sale is key for any buyer.
The Rules are Always Changing
Staying on top of the rules and regulations is a top priority both in footie and property. The Aussie rules we know today are vastly different from the mere ten rules that established the game in 1858. Likewise, as our property market evolves, rules and regulations are sure to change. The Reserve Bank of Australia already reviews official interest rates 11 times in just one year, which can greatly affect the affordability of housing.
Teamwork
Winning the Grand Final is reliant on outstanding team effort, and the same can be said for selling or buying a home. Without the right guidance from an experienced coach (financial advisor or parental figure), and a skilled team (reliable agents or brokers) to support you, kicking a goal in the property market is almost impossible.
It’s emotional
The highs and lows of gameplay are alike to the emotional decisions you can make in property, which can deeply affect you and your supporters (and family). Keeping your cool and focussing on the journey is just as important as keeping your eye on the goal. Buying property is emotional – keep in tune with why you’re buying and make sure you’ve got your eye on the bigger goal.