Buying insights with Three Sixty Property Group

With the experience and breadth of work that comes with over 10 years in the property market, Melbourne’s Three Sixty Property Group has had the pleasure of working with some of Australia’s best developers on a repeat basis.

We spoke to Founder and Managing Director, John Meager to find out what makes Three Sixty unique, and to discover what buyers can do to secure the perfect home.

Is there a common thread between all the projects marketed by Three Sixty – what do you look for?

We focus on the product upfront and ultimately, we look for enduring value. We look for quality and projects with a distinct point of difference that will make them attractive in the marketplace for years to come.

How do you help buyers find the perfect property for them?

One of the biggest mistakes I see in this industry is “speed dating”. That is a term we use when a sales agent doesn’t spend enough time with their clients in order to understand their real needs. We have a genuine culture for helping people in our business which comes through in the level of empathy that is shown through the buying process. 

Gaining a deeper understanding of the prospective buyer’s fears and goals we nurture them through the sometimes complicated process of buying off the plan. This often means a higher level of face to face contact which is usually missing in this high speed, social media world.

What innovations has Three Sixty seen in the townhouse market recently?

With affordability being one of the key driving factors of townhouse design across Australia, we’re seeing efficiencies in design as well as a bigger focus on ESD features (environmentally sensitive design). These help improve the day to day maintenance costs of your home and improve personal or family cashflow. We are also seeing certain floor plans appeal to certain socio groups.   

How has the apartment market changed over the past year?

The pool of buyers has shrunk with less activity from investors, resulting in more scrutiny around the quality of product, track record of the developer, reputation of the agent, and sensitivity around pricing. We have successfully launched projects this year where our developer clients took the time to truly create something different. In this market, you cannot get away with a homogeneous product sold on price alone. 

Quality is King. And remember, you can’t fit a square peg in a round hole, so smart developers are designing the right products for the location and considering the appropriate target market. We have always operated on the basis that if you get the product right from the outset, it will sell itself.

Are buyers becoming savvier about what they want? If so how are they getting it?

Yes, they are. Flexibility in design is critical when there are fewer buyers in the market, developers need to adapt their product on the spot. We do this on our projects by pre-designing flexibility into floorplates, individual layouts, and customisable interior options, allowing the purchasers to create their own space and style.

How can buyers and investors take advantage of the current property market?

Firstly, it’s the brave that are rewarded in a market like this. Take the bold move of making offers on price, inclusive of options, but DON’T be persuaded by artificial discounts or incentives, like inflated rental guarantees or discounts that are built into the price. 

Secondly, do your homework upfront. Understand the real market rents and inform yourself of the real value of the property by researching comparable proprieties that have sold. Remember, if it sounds too good to be true it often is.