Negotiating Apartment Prices in Melbourne

When you think about negotiating apartment prices, the strategy might sound simple: throw out a cheeky lowball offer, act a bit “meh” about the property, and wait for the agent to chase you with a better deal.

Sure, that might work if the apartment is sitting sad and lonely on the market, ignored by buyers like last season’s fashion.

But what if you’re eyeing an apartment that’s in high demand? One that’s getting plenty of foot traffic and excited chatter of buyers asking for paperwork at every inspection?

In that case, it’s time to up your game.

How Buyer’s Agents Negotiate Apartment Apartments.

Here’s the real secret: successful negotiation starts with understanding market demand. Before you even think about what offer to make, figure out where the apartment sits in the popularity stakes.

Quick Demand Checklist:

1. How long has the property been listed?
   Over 28 days? That’s usually a red flag that buyers aren’t biting — or the seller’s asking too much.
2. What’s the vibe at inspections?
   Is the place buzzing with potential buyers? Or can you hear crickets?
3. Are there still regular open inspections?
   If those have dried up, it might mean the agent (and vendor) are getting desperate.

4. Does the apartment have standout features?
Think killer views, a massive floorplan, or heritage charm.

5. Has it grown in value before?
Check its price history and compare it to others in the building or suburb.

Know the Apartment’s Real Value — Not Just the Quoted Price

Do your homework. Research comparable sales within a few kilometres over the last 3 months. Know the real market value, and you’ll never have to rely solely on an agent’s guidance again. Comarable sales apartment complexes that have similar

Understand Why the Seller is Selling

Want a serious negotiation edge? Find out the seller’s why.

If two offers come in at the same price, but one buyer offers a long 6-month settlement (which helps the seller finish their next home), that buyer could win — even with a slightly lower price.

Remember: every sale is personal. When you understand the vendor’s situation, you can tailor your offer to solve their problem — and win the deal.

Timing is Everything

The longer a property sits on the market, the more flexible the seller usually becomes. Look for signs like:

• Price drops
• Failed auctions
• Changed agents
• Tired marketing campaigns

Be patient. These properties are prime targets for well-timed offers.

Add a Human Touch to Your Offer

Vendors are people too, and selling can be an emotional rollercoaster. A cold, clinical offer might get rejected — even if it’s financially sound.

Try this instead: Include a short personal note. Maybe you’re a first-home apartment buyer dreaming of putting down roots, or a young family who fell in love with the balcony view. Your story can give you a competitive edge over investors just chasing returns.

Don’t Be Too Cool

Buyers often try to play it cool — hiding interest so the agent doesn’t “get ideas.” But if the seller needs a fast sale, the agent needs to know who to call first. So let them know:

• You’ve got finance sorted
• You love the property
• You’re ready to move fast

Being memorable helps when opportunities pop up — and they often do.

Consider Using a Buyer’s Agent

Want to skip the research, the inspections, and the stress? A buyer’s agent (like us at Wise Real Estate Advice) can:

• Identify quality apartments (including off-market deals)
• Do all the legwork, inspections, and research
• Negotiate a great price — whether it’s a private sale or auction

We used to be selling agents ourselves, so we know exactly how the game is played — and how to win. Negotiating for a Melbourne apartment isn’t just about lowballing and poker faces. It’s about:

• Understanding the property’s real value
• Reading the market
• Connecting with the seller
• And knowing when to strike

Need expert help navigating the Melbourne apartment market? Get in touch with Wise Real Estate Advice for a free, no-pressure chat. We’re here to help you buy smarter.