Open Home Tips For Each Season

It’s a tradition in real estate to say that spring is the best time to sell … although it may be more popular, there are property’s on the market all year around.

So, how do you make the most out of each season?

Summer: It’s all about the entertaining, outdoor lifestyle so be strategic about how to showcase the property. If the property doesn’t have air-con, don’t hold an open home in the middle of the day, instead opt for early morning or evening.

Autumn: A great time for low maintenance properties to hit the market. You can work with your vendors to use the fallen leaves as a feature of the property, or try raking them/disguising them before buyers walk through the home.

Winter: Be prepared for the cold. If the property has a fireplace, use it. Agents have even been known to put the oven on to warm the property up. Try using candles to add to the warmth and ambience of the cold winter season.

Spring: Everything comes to life in Spring, which means people are getting out and about more and this is why it’s a popular time of year to put properties on the market. Don’t forget, you’re also on the market with sometimes 10, 100 or 1000 other properties, which means buyers will still have to be wowed.

No matter the season, it comes down to showcasing the property in the best possible light. Emphasise the positive and disguise the negatives. Good luck!

 

6 Tips To Help You Sell Faster

Finding a property to sell is the easy bit, right? Finding the right buyer and selling it for the desired price is where it gets tricky.

Many agents let the market take over, which can result in the property remaining on the market longer than it has to. Giving your vendors the following 6 tips before the ‘For Sale’ sign is hammered into the front lawn will give you and your vendors the best possible outcome.

  1. Get organised. Remove all personal items and ensure trinkets and dust collecting items are fresh and clean.
  2. Style: Freshen up the property with some coloured cushions or prints – you can take them all with you when you go too!
  3. Greenery: If you can’t manage to keep a plant alive, fresh flowers in the kitchen or dining room will do.
  4. Outdoors: Ensure gutters are clean and hedges are trimmed.
  5. Property Stylist: If the vendors don’t have time to re-style their house, suggest a professional service to do it for them! A low cost investment for a better result.
  6. Inspection days: Turn the lights on, light fresh candles and buy fresh flowers. Let the buyers imagine your home as theirs.

Remember, communication is key during the listing and selling process. Your vendors will appreciate your transparency when selling their biggest asset. Good luck!

How Much Is Quality Real Estate Marketing?

When it comes to real estate marketing, investing more increases your number of ‘qualified’ buyers to your property in the shortest period to achieve the highest sale price. While there is a extensive list of marketing options you can do, there are a certain essential items that are must-haves.

Professional Images – $150 to $350

The cost of your listing’s photos can vary depending on your ‘extras’. While you can go for a standard range of photos, you can get extras such as drone footage, videography or 3D tours which can push costs to over $1000.

A Detailed Floorplan – $150

Floor plans are an essential way to give potential buyers and insight to the listings layout, dimensions and aspects. When booking your professional photographer check if they also do floorplans as occasionally it is offered as a bundle deal.

Professional Copy Writing – $0 – $350

While some agencies employ in-house professionals to write your sales script for you, others outsource this job and will need to pass on the fee to the vendor.

Property Signage – $100 – $350

Signage costs vary depending on the type of sign you choose. Options could range from a generic agency “For Sale”, a detail photo or a digital led signboard.

Brochures & Letterbox Dropping – $0 – $450

The cost of your brochures will vary depending on quantity and quality. Professional printing will always have a better impression on potential buyers, but printing in house allows you to get more out of your budget.

Online Real Estate Sales Portals – $440 – $3000+

Using a real estate portal such as Doman.com.au and realestate.com.au is essential as majority, if not all, potential buyers use these sites as their property search engine. Costs on these sites will depend on the type of advertisement package and the location of the property. It is recommended to advertise on both sights as it will undoubtedly increase your exposure to buyers.

If your client is willing to invest more in a marketing campaign, it will widen your potential reach to qualified buyers, this typically results in more buyers in a shorter time with a premium sales prices.

What Do Great Selling Campaigns Have In Common?

When it comes to selling, a real estate agent should clearly and precisely explain all property campaign options available to the vendor.

As the real estate agent, you should work collaborative with the vendors to understand what is best for the property and what fits into the current property market.

The average length of a selling campaign is approximately 30 – 90 days, however the highest level of buyer interest is always seen in the first 14 days. This is when buyers are keen to get in and look at the property, using their emotions to make a decision – exactly what you and the vendors want.

In saying that, ensure the campaign you choose is right from day 1. Here’s three components that all great campaigns have in common:

Marketing – an absolute vital part of the selling process. Think professional photography, a comprehensive online media strategy, print and social media and sometimes even property staging.

Property Presentation – when buyers make an emotional connection with the property, it often leads them to making an offer. Presenting the property in a way that the buyer can visualise living there is vital. Incorporating natural light and quality furniture will enhance the property and sale price.

Price Strategy – there’s a fine balance between achieving a price the vendors hope for and one that is in line with the current property market. Buyers will automatically eliminate the property from their inspection list if the advertised price is not right for the property, suburb or current market. It’s important to get the price right from day 1.

How To Increase Rent Profit

Getting the maximum return on investment (ROI) for rental properties is the best way to obtain repeat and referred business. Understanding what can bring a maximum ROI can be the selling point that a Real Estate Agent needs to convince a buyer. Here are 4 trends to improve a rental property’s profitability.

‘Hot’ Tenants
More useful to property managers than real estate agents is usage of ‘hot’ tenants. Using ‘hot’ tenants can save money on advertising and time as these are pre-approved renters who have indicated what kind of property they are looking for and are perfect for a quick move-in process.

Houses > apartments
In major cities there is an oversupply of apartments which creates high demand for houses by renters (a selling point for future investors) as it provides added privacy, flexibility with pets and freedom to make the residence their own.

Long-term leases
Having tenants with long-term leases guarantees monthly rent and protection for the landlord. Leasers can calculate their return on investment over the period which often has a higher and stable return.

Rentvesting
Some homeowners are looking to save money by renting their properties while renting themselves. This allows them to maintain investments and live a more flexible lifestyle.

How To Maintain Positive Relationships With Your Vendors

Here’s the hottest 7 tips to ensure the relationship between you and the vendor remains a positive one.

  1. Trust: Remember trust is a two-way street, if you trust your vendor, they’ll likely trust you. Work on allowing trust to remain rock solid throughout the enter selling process and don’t give your vendors a reason not to trust you.
  2. Respect: As a trusted advisor, you will need to maintain mutual respect through all conversations and decisions. This will lead to positive, long-term relationships and referred business.
  3. Control: Whether you’ve sold 10 or 100 properties, your vendors want to be treated like your first or last customer, not just another one for the books. Take in what they suggest and be happy to incorporate anything that suits the selling campaign.
  4. Communication: As our world grows digitally, remain traditional with phone calls over text or email. Ensure your tone and message is communicated in the way it was intended.
  5. Commission: Be confident in what you can deliver as an agent. One doesn’t pay for a premium product without a premium price so ensure you deliver the service your vendor is paying for.
  6. Be punctual: We know your real estate schedule can be busy but this is no excuse to be late. Ensure your client feels valued, don’t half do a job and then rush off to half do another job.
  7. Honesty: Whether it be why you’re running late, or the potential price the vendors can achieve for their property – be honest.

Relationship management is the golden key in real estate. As a real estate agent, you’re client focussed and if you don’t maintain the core of your business, the results won’t show.

When Is The Best Time Of Year To Sell?

There’s some general rules about when is the best time of year to sell. It obviously depends on the location and property type but knowing what time of year is best to list your vendor’s property will help you achieve a better result.

By the beach? Summer.
It makes sense to sell a beachside home when you have a never-ending stream of potential buyers on your doorstep for months on end.

Selling a family home? Avoid the holidays.
Ensure you list family properties when local families are in the area to inspect them. Specifically, in capital cities, families tend to escape to the coast or hinterland during school holidays. Try selling family homes during the middle of the school year when families are active in their local communities.

Outstanding garden? Autumn or Spring.
Successful sale campaigns often incorporate the property’s best features rather than the property itself. So, for properties start with an outstanding garden, autumn and spring is best so you can use the garden as a selling point.

North-facing? Follow the sun.
Properties that have a north orientation can be better presented in the cooler months, when the sun is lower and acts as a heating tool for the property.

Augmented Reality to Change Real Estate

We have already seen the rapid development of Augmented Reality (AR) in recent years with Pokémon Go going viral and Android phones being sold with their own Virtual Reality (VR) headsets.

While this is great for the development of digital technology in general, it will soon become a commercially viable option and a critical part of real estate marketing.

Some real estate agencies already use 3D tours to allow potential buyers 24-hour access to a listed property. This is the direction we are already heading toward providing a truly immersive property inspection to potential buyers meanwhile increasing interaction with your listing.

A step further would be to provide users with the technology to see their surrounding world and include an extra layer of interactive information.

Real estate is all about location and appearances and already concepts are appearing that allow users to access the property data of their current location.

While these concepts are immediately applicable to commercial real estate in the CBD or capital cities where users can walk through the streets and be able to access key information, amenities, tenant industries and vacancies about properties physically around them. I am excited to see how this tech can be used in residential real estate.

Dream Home or Dream Suburb?

A recent study of 1000 people nationwide has shown that 54% of Australians see that location isn’t everything. They are looking at broadening their search and viewing suburbs outside of their wish list for the perfect home.

However, 26% aren’t prepared to give up on their dream home and suburb and are happy to take on a bigger mortgage to have both.

Realestate.com.au has identified the most affordable micro-pockets in Brisbane’s most expensive suburbs, alluring buyers who won’t sacrifice their dream

Queensland

New South Wales

Victoria

Want to know more about your area? Use REA’s interactive map and find the cheap pockets in your area’s suburbs.

Must Haves For An Investment Property

We all know by now that investment properties are a clever way to build wealth for your future. So we have put together a list of essentials to ensure your property stands out and stays in-demand and in rewards continual capital growth.

Features That Are Everlasting

You can always add a new kitchen, pool or complete a renovation to add value to your property. Still unchangeable features need to be a focus. This includes the property’s land size, position on the street and on the block.

Location

Being in a popular suburb is important. However, choose a specific pocket of the suburb to buy in. Pick a street with similar property types, as buying next to a development site may affect your property’s capital growth.

Allocated Car Park

We have all at some stage battled for a car park, be it in the street or in a car park. It can be advantageous if your investment property has allocated car parks.

A level of Rarity

If there is a demand for a specific type of property, there won’t be many of those properties left available. The rarer a property type is the higher the capital growth. If you are able to land one, it can be a recipe for success.