Simon Cohen’s guide to buying prestige Sydney real estate

Since bursting onto our screens with Amazon Prime’s Luxe Listings Sydney, prestige buyer’s agent Simon Cohen has become a household name. The co-founder of agents Cohen Handler and brand ambassador for H&R Block has been selling some of Sydney’s priciest properties for more than a decade now and  is now considered the highest grossing real estate agent in the country.

He spoke to Kanebridge News about the challenges and triumphs of working in the Sydney market.

What in your view is the best real estate market to invest in right now?

Without question, Sydney. It’s the market that increases the most and has the least drop when things go bad.

What is the best way to manage a luxury property portfolio in a market where both prices and interest rates are increasing?

Don’t freak out! Always know that if you’re in the right city, the right suburb and in a blue-chip location, that your property and investment will always be safe. Stay strong, stay believing in your asset and ride the wave.

How realistic is Luxe listings? What has surprised you about working on the show?

It’s certainly a reality TV show, so it’s very realistic. All the deals and properties are real. What surprised me the most, is how much love and enjoyment people and viewers have got out of it from all around the world.

Where does an agent with your reputation and experience choose to live?

I currently live in Elizabeth Bay and I’m currently building one suburb away, in Potts Point.

What services can a buyer’s agent provide?

Sourcing every property that exists out in the marketplace, doing the due diligence and valuations and being able to help negotiate the lowest price possible for the purchaser.

What’s your advice for people looking to make their first investment in the residential property market?

“First time property investment can be complex and overwhelming, so seeking advice from experts. (Look for) a team that can provide the guidance and work with you every step of the way to advise on what tax deductions to consider (i.e. stamp duty, capital gains, and land tax) when considering your first investment property. Don’t get emotional. Buy where (you are) going to have the best capital growth and the greatest yield. Look for properties in the best blue-chip locations as you can afford and as close to major cities as you can afford, because they are always the ones that are going to have the best return.

How can a buyer’s agent assist overseas buyers interested in the Australian market?

A buyer’s agent is especially useful for overseas buyers because we’re giving them the in-depth understanding of what’s happening in the marketplace in which they are looking to buy in. We’re able to give them access to off-market properties and also point out things that they’re not able to see such as the warts, the problems  the things that the shiny, beautiful photos might not show. Investing in an overseas property can be a lucrative opportunity for many buyers, but it can also come with its own set of challenges and complexities, especially when it comes to navigating the tax implications of such a purchase. This is where partnering with a H&R Block tax experts can be extremely valuable.”