Augmented Reality to Change Real Estate

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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?

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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

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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.

Tips To An Excellent Personal Brand

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Personal branding is imperative to a Real Estate Agent’s success. Selling yourself is just as important as selling the property, return and referred business can be the difference between falling short and exceeding your targets. Have a look at these areas and have a think of how you can improve moving forward.

Believe in yourself
A common trend amongst successful individuals is their mid set. If you believe in yourself and imagine success, you are more likely to succeed. Confidence is key, but also remember that arrogance is not a professional look.

Build relationships
Building relationships and friendships with clients and colleagues alike can prove instrumental in your success. Being honest, acting with integrity, putting your client’s first or helping a colleague will build your reputation and display your character.

Put in the extra effort
Expanding on the previous point, go the extra mile with your clients and take time to understand them by adding personal touches like flowers or thank you notes. Deeds like these can leave a good impression and help people to remember you which will lead to repeat and referred business.

Physical vs Digital
As new technology becomes easily accessible, consider how you can use those digital tools to improve communication and interaction. There will always be a place for face-to-face meetings and word of mouth marketing but maximise this potential by using a combination of direct and digital channels.

Continue to learn
The real estate industry never stops, which is why it’s imperative to continually learn. Signing up to industry newsletters, searching the latest trends, watching online content can help refine an agent’s skills.

How To Gauge A Property’s Future Profitability

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There are a lot of aspects that affect the value of a property, such as area, access to facilities, views, proximity to water, etc. Knowing this is part of your job as a Real Estate Agent and helps when you are advising buyers on a property and the area’s economy and potential.

A great metric that can help refine the viability of future profitability is schools and future schools.

In November 2017, Queensland’s Labor Premier Annastacia Palaszczuk committed to building 10 new schools while refurbishing 17 old ones. While the refurbished schools could potentially drive profit in their areas, imagine a school popping up around the block from a property? That can seriously increase a property’s value!

Keeping on top of your target areas development can give you a good indication of future capital growth.

A Guide To Nailing A Property’s First Impression

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Photos need to be involved throughout the advertising process for selling a property. Getting these right will create a great first impression on potential buyers and possibly even getting you a greater sale price with better competition from buyers.

Declutter and depersonalise
Successful styling encourages potential buyers to imagine themselves living in the property. If the property is filled with personal objects, it will have a negative impact on your photos. Remove anything that isn’t being used for styling purposes.

Make it cosy
Your photos will be potential buyers first impression and are a fantastic opportunity to make the property look inviting. Thoughtful styling using plush cushions, throws, coffee table books, candles, plants, flowers and other statement accessories can achieve this effect.

Use natural light
You would already know that natural light is a huge selling point and therefore it comes as no surprise that it’s a clever idea to showcase this in your photos. Open any blinds or curtains, including sheer drapes for a subtle effect and arrange furniture to take advantage of this light.

Hire a pro
If all else fails and you need some help, hire a professional property styler. A common trick to a successful business is to hire people who excel in fields you don’t and the same concept applies here. The seller hired you for your skills and experience in selling homes, so why not hire a professional stylist and use their unique skillset to create incredible photos and nail that first impression.

Can You Sell A Home Via Snapchat?

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If you are wanting to know the short answer, it’s yes. A Victorian specialist from LJ Hooker, Zed Nasheet has managed to sell a property using nothing but the social media app Snapchat.

As technology becomes easier to access and manage, Real Estate Agents, like Zed, are starting to test their boundaries to help them sell their listed properties faster.

All it took was a snapchat giving details on his newly listed property and 15 mins later he had a potential buyer enquiring. That buyer went on to put down a $2,000 deposit.

There was nothing particularly unique about this property. It was a standard three-bedroom, one bathroom home with a large backyard and an opportunity to subdivide listed for $550,000 and the video wasn’t blindingly special, Zed said on average he gets 600 – 700 views on his snapchat videos but this one only getting 50.

The idea behind using Snapchat is it depicts an almost personal digital tour of the property. You should still do a professional tour for your listing, but this way potential buyers can see you, your personality and the home through a clear, unedited and unfiltered lens.

NREL Blog

4 Key Responsibilities of a Property Manager

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A property manager is someone hired to oversee the daily operations of a real estate investment for a landlord.  They play an integral role in the success of the investment because have control over most aspects of the property and its tenant(s).  With that control comes a great deal of responsibility.  The following is a list of 4 key aspects of a real estate investment a property manager is responsible for:

Rent

Property managers are in charge of handling rent for the landlord.  They should be experts in the real estate industry and as such, property managers are expected to do things like set the rent price and adjust it accordingly throughout the duration of their management.  They are then also expected to oversee the collection of rent from the tenant – this includes enforcing penalties for late rental payments.

Property Maintenance

In regards to property maintenance, the property manager must make sure that the property is in a good condition and fit for the tenant to live in.   While specific details are often outlined within the tenancy agreement, generally property managers are in charge of the following aspects:

  • Drains & gutters are clear
  • Some emergency repairs
  • Light bulbs
  • Smoke alarms
  • Building & Pest Inspections

If the property is vacant, it is up to the property manager to make sure it is secure and prevent any form of vandalism.

Tenants

Managing tenants is an especially important responsibility of a property manager.  They are responsible for finding, screening and managing tenants for the landlord.  They become the main point of contact for the tenant.  This means the property manager must handle things like emergencies, complaints, evictions, leases, move outs.

Budgets & Paperwork

Often, landlords set a spending budget for the property manager to use for maintenance and emergencies.  It is the duty of the property manager to use this budget judiciously and keep a detailed record of all property related matters.  This includes keeping accurate lists of inspections, repair & maintenance costs, rent collection, insurance costs and lease agreements.

If you think property management might be something you’re interested in, check out our courses that will help get you started in the real estate industry!

NREL Blog

Why you should become a real estate agent

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An exciting career for those that have the drive to succeed

Being a real estate agent is a fantastic career.  It’s exciting, fast paced and can be very rewarding.  As an agent, you will play a critical role in the biggest decision of most peoples lives!

The great thing about a career in real estate is that it is accessible to anyone with a drive to succeed.  Our students come from backgrounds ranging anywhere from school leaver to retiree.  Our training courses also ensure that success is achievable for everyone who undertakes the course.  By grading our courses based on competency rather than points; everyone can pass once they demonstrate their understanding of the content – regardless of how many attempts this might take!

Once your initial training is complete, you’ll be able to get right to work from day one!  From the beginning, a real estate agent is in charge of their own success.  The rewards generated from the persistence, hard work and determination of the agent are second to none.

As an agent, the variety of work you experience will always keep you interested and challenged.  One day you could focus on handling tough negotiations while the next day could be focused fully on how best present your listings.

If this exciting and rewarding job sounds right for you, enrol with NREL to jump into your real estate career today!

NREL Blog

How Much Do Real Estate Agents Earn? | Salary and Commission

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Real estate can provide a lucrative income, particularly during boom years. The most successful agents are not only experts in real estate property values but also laws, marketing techniques and social networking. The average real estate agent income varies considerably across Australia, but now is a great time to tap the unlimited potential of this career. According to the Real Estate Institute of Australia (REIA), “Australia’s property industry is emerging as the main driver of economic growth and increased employment.”

How Much Do Real Estate Agents Earn?

Real estate agent salaries vary widely based on experience, location, employer firm and whether they sell residential or commercial properties. Commissions and bonuses can earn some agents up to an additional $80,000 on their annual income.

One of the many benefits of becoming a real estate agent is the ability to work for yourself or seek employment with a firm. Those who are self-employed must pay for several high-priced overhead expenses and real estate agent fees, including licensing, insurance and supplies. Some people opt to work out of their homes or rent office spaces. Each option has its own tax implications and tax benefits, including the ability to claim deductions for mileage and marketing expenses.

About half of all agents choose to work for real estate firms, which often cover many of the associated costs, such as cell phone bills, car allowances and marketing budgets. They also generally provide traditional employment benefits, such as paid holidays, vacation and sick leave. Top-tier firms sometimes offer their most successful agents incentives, such as company automobiles or higher commissions. However, agents must share a portion of their commissions with the agency, which absorbs the up-front costs of selling the property.

Real Estate Agent Commission Rate

Commission rates and final earnings are also influenced by location. The latest data from LocalAgentFinder shows that Tasmania offers the highest rates at 3.26 percent. The lowest rates at 2.07 percent are charged for real estate sales in South Australia. Across the nation, the average commission is 2.22 percent.

The amount of income these commissions generate depends on the final sale price of the property, so it is important to know what real estate prices average in each market. REIA reports that the median home price for the eight capital cities hovered just below $685,000 during the first quarter of 2016. Sydney continues to have the most robust market with the median house price sitting at just under $1 million, providing around $20,000 in commission earnings.

Risk Versus Reward

Real estate agents invest a considerable amount of time into prepping, showing and closing the sale of a property. There is a huge potential for Agents to make a comfortable living. Sometimes, real estate agents offer clients lowered commission rates in order to attract business in a highly competitive market. New regulations were implemented in Australia in December 2014 allowing real estate agents to set their own commission fees. This rate is largely determined by competitors and the current supply and demand of the market. While most agents are paid based on the sale price, some agree to a fixed rate term that allows the client to pay a set dollar amount regardless of the property’s final price. Others offer tiered percentage options that go up if the home sells for more than expected.

How To Become A Real Estate Agent?

This Blog article titled How To Become A Real Estate Agent, is very helpful.

The first step of a career in real estate is obtaining the required qualifications to work in the position you want to apply for. This is a quick summary of what qualifications you need for Coronis positions.