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I first met Luke Assigal at a networking event earlier this year and he struck me as a genuine person who likes to work hard and always presents very well.
Luke started off in door-to-sales then phone sales, then moved onto real estate. After a while he realised that buyers’ advocacy was his calling as it allowed him to be across all aspects and all areas of property in Melbourne. Luke’s definition of a buyer’s advocate is an independent professional negotiating the buying of the property on the buyer’s behalf.
Luke absolutely loves to buy properties whilst saving money for his clients every single day and has recently gone out on his own launching Parley Property Advisory. When you hear the knowledge that he has amassed and the passion with which he speaks, it’s easy to hear why Luke is so successful.
I took this opportunity to ask Luke all sorts of questions in an attempt to get my head and listeners’ heads around the property market in Australia and how we can best capitalise on the opportunities here that we are so fortunate to have.
Luke covers his predictions for the future of the Australian housing market, the benefits of having an investment property as your first home as opposed to your family home, strategies on how to buy property, positive verse negative cash-flow properties, the problems with the media and with the data that’s available, the 8 future mini cities of Melbourne with the best potential growth, how to pull equity out of a property to buy another, why the government wants to slow down investment lending, how the GFC happened and much much more.
Please enjoy this conversation with Luke Assigal
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My Biggest Take-Aways
- If it sounds to good to be true, do some more research
- You make money when you buy property. You don’t make money when you sell property.
- One option is to buy your first house further out where you can afford to buy and treat it as an investment property and rent in one of the inner suburbs for the lifestyle that you desire.
- You never want to sell property. People always regret it.
- No one ever says I’m really glad I waited 20 years before I brought that property
- You don’t get a warranty on properties
- On taking the leap into real estate including the pay cut when starting out: ‘Money doesn’t really matter. With my passion and my experience, I’ll do well anyway.’
- The one time you slack off is the one time you lose it
- Luke saves his clients on average 10k per property
- You don’t get what you don’t ask for
- Even if Luke never needed to work again, he still would. Why do people do things that they don’t love
- If you’ve got 20 years experience, have you learnt something every year or have you done the same thing in one year over 20 years?
- The universe doesn’t give you what you want in mind, it gives you what you demand with your actions.
- If you’re going to save money on selling your property (doing it all yourself), you’re going to lose money when you sell it.
- Luke’s average buy time for clients is around 6 weeks. It’s not about forcing a property down the client’s throat, it’s about asking the right questions, creating the strategy and giving the right advice. It takes 9 months for the average buyer to buy a property.
Show Notes
2:30 Luke before real estate
4:05 The first taste of sales
5:35 Moving to Melbourne
6:15 Moving to the next level – corporate sales
7:10 Sales – Phone compared to face-to-face
10:10 Luke’s chance to get into property
12:15 Telemarketing sales for property in 2017
14:00 The problem with the media
15:55 What do you see happening in the near future with the Australian housing market?
17:35 Rate rises
20:15 Why does the Government want to slow down investment lending?
22:05 How the GFC happened
26:10 ‘The rent is ridiculous’ ‘There’s a housing shortage’. What should the government do?
29:45 Should my first house be an investment property or the family home?
34:55 Where should people research the best locations to buy property?
38:35 The 8 future mini cities of Melbourne
45:00 Can houses continue to double every 10 years?
49:00 How do you pull equity out of a property to buy another?
54:25 Can your family home be ‘negatively geared’ and receive tax offsets?
57:10 How will it look if I buy 3 properties in 10 years time?
58:00 20 properties in 10 years theory
1:02:50 Back to Luke’s journey after than incredible digression
1:09:25 Luke’s first sale
1:13:20 Why Luke is glad that he started in real estate before advocacy
1:13:55 The benefits of an Advocate
1:15:25 Going that extra step and getting results
1:17:30 How Luke became ad advocate and why he wanted to become one
1:23:00 On owning your own business
1:27:15 Luke saves his clients on average 10k per property
1:30:45 The importance of being pationate about real estate to succeed
1:33:10 How to buy a property with an offer that isn’t the highest
1:34:05 Where ‘Parley’ came from
1:35:40 Domain names
1:39:00 Expanding the business
1:45:10 People fade away when they don’t keep themselves busy
1:40:00 The Big 5
- Starting in sales – Learning why instructions are important and taking feedback on board.
- Being made redundant – It made me think about what I was passionate about
- When Luke’s grandfather passed away, Luke saw the value in keeping active like his other grandfather who is still alive and busy today. It’s about remaining hungry and feeding your mind. You’ve got to hustle!
- Simon Sinek’s – Find Your Why
- Selling his first property (at 1.24 million!)
1:50:00 What’s your favourite quote?
The universe doesn’t give you what you want in mind, it gives you what you demand with your actions.
Make no judgements when you have no comparison
1:53:30 What are the best books & blog-posts that you’ve ever read?
Start with Why by Simon Sinek
Richest Man in Babylon by George S Clayson
1:56:20 Best Movies, TV Shows & Documentaries?
Wolf of Wall Street
The Accountant
Game of Thrones
2:01:15 What are your predictions for your industry in the next 5 to 10 years?
Agents won’t be taken over any time soon as there’s a very human element and it’s a personal service.
More systems and offshoring to free up time
2:06:05 Are you prices in Australia going to double in the next 10 years?
2:07:50 Did you achieve your goals that you set yourself over the last 12 months?
Yes!
Starting my business and going out on my own
Getting the website up
Getting another advocate on
There’s some goals that I still need to achieve from the last 12 months
2:11:10 What goals have you set yourself over the next 12 months? Are there any that you’re willing share with us that we could help by keeping you accountable?
Learning German
Starting another business
Setting up the business to be able to sustain itself
2:12:45 Who are you looking to connect with?
Professionals in the finance industry especially Mortgage Brokers
Who I think should connect with Luke
Anyone looking to get into property – whether for a career or to purchase a (or several) property(ties)
2:18:05 Where can listeners reach you?
luke@parleypa.com.au
www.parleypa.com.au
Links
4:40 Kopa group (Foxtel, Austar)
6:35 Sensis
9:55 Needs-based selling
9:55 Solution-based selling
17:55 APRA
22:05 GFC
35:20 Call Logic
35:20 Price Finder
35:20 Australian Property Monitors
35:40 Realestate.com
35:50 RP Data
36:10 Domain
35:15 Australian Property Monitor
36:25 SQM Data
36:35 MicroBurbs
49:00 Peter Spann
1:37:30 Startup by Gimlet
1:37:55 GoDaddy
1:39:10 Tristan Wright
1:53:45 Audible
1:54:00 Miracle Morning by Hal Elrod
1:57:20 Jordan Belfort
1:57:20 National Real Estate Conference
2:00:25 Boiler Room
2:00:25 Glengarrigan & Ross
2:00:45 LJ Hooker Hampton Park
2:03:20 Purple Bricks
2:03:35 Buy My Place
2:09:25 DuoLingo
This episode is brought to you by our good friends at Tondo Digital.
It’s time to hustle! Click Here for exclusive access to our Podcast, Blog, eBooks, Events, Meet-Ups, Tickets, Newsletters, Products, Knowledge, Mentors, Giveaways & more.
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