But don't think just because you have the money they will sell you their precious Trophy Home.
Peter Kelaher, Director and Founder of PK Property Sydney's first Buyer's Agents, says that the upper end in the Sydney Property Market has probably been the best he has seen it since he started the business back in 1997.
In the last 6 weeks, Kelaher says he has purchased 44 Bower Street, Manly, a knockdown house on leasehold for $14 Million, and the highest recorded suburb price for a stunning house at 3 Pavilion Street, Queenscliff for $12 Million.
Kelaher says that we are entering into a different era and arena in regards to these 'Trophy Homes'. He says it's like buying rare art, vintage cars and wines, and anything else that is tightly held and doesn't trade very often.
And guess what? If you think you can just come in and offer these Trophy Home vendors what they want, or negotiate hard with them and they will beckon to your every demand, well think again.
Kelaher says he has purchased a lot of Trophy Homes in the 21 years he has had his Buyer's Agents business, and the first thing Trophy Home vendors want to know is great detail regarding who they are selling their Trophy Home to.
Kelaher says there is a huge amount of pride, ego and status when dealing in this top end property market, and forget about the money because most of all these people have got plenty of it, and they will decide who will be the new owner of their precious home.
But he also said, please understand the agent in most cases wants to know all about you so the agent and the vendor can actually qualify you in regards to whether you can afford to buy the house, but most of all that if you do buy it, that you can afford to settle it.
Kelaher said a classic example of 'we don't care how much you offer us', was a top end home he found off market for a client just two months ago in Manly.
The vendors had been in the house for 40 years and had decided to sell. The agent took us and someone else through; the only two buyers through the property. Even though we offered $400,000 more than the other buyer, they said 'no it doesn't matter what you offer us, we happen to be friends with one of their mums and we are selling it to them.'
Another story was 3 months ago. A buyer, who was not a PK Property client, shared a story with Kelaher about a property he wanted to buy in Newport. However, the very sick father and two daughters wouldn't sell the property to him because the buyer wanted to knock-down and re-develop the treasured family home.
A week later, the father passed away and the daughters said 'we will sell it to you now', but the buyer had moved on and the vendor ended up losing hundreds of thousands of dollars.
Kelaher has said he has plenty of stories like that and urges buyers to be careful in how they approach vendors in that Trophy Home market, because in most cases it's not all about the money, it's about who you are.
To discuss further, please contact Peter directly on 0419 200 018 or peter@pkproperty.com.au.