Sunday, March 18, 2018

This week’s CoreLogic Property Market update

Preliminary auction clearance rates soften as the number of auctions surges to the second busiest week so far this

There were 3,097 homes taken to auction across the combined capital cities this week, making it the second busiest week of the year so far, with preliminary results showing a 67.5 per cent success rate.

In comparison, 1,764 auctions were held last week and the final clearance rate came in at 63.3 per cent.

Over the same week last year, auction volumes were lower with 2,916 homes going under the hammer across the combined capital cities, although the clearance rate was a stronger 74.1 per cent.

Auction Cap City

Auction 2

Auc Melb

Auction 4

Auction 5

Auction 6

Auction 7

Auction 8

Auction 9

Auction 10

Auction 11

Auction 12

Source: CoreLogic

Metropole Property Home Buyers Enquiry

from Property UpdateProperty Update

How to get your property sold — fast

Has your property been on the market for a while and you’re not getting the interest you’d hoped for? 

Or maybe you’re ready to move on from a underperforming investment, and don’t want your time wasted with a four-month sales campaign?

When it comes to marketing your property, there are definitely some tactics you can use to fast-track your chances of getting a signed sale contract.

Here are my top tips for getting your property sold…

1. Get to know your competition

Have a look at other homes for sale in your area during their open inspections, so you can get the inside scoop on the local market. Compare House

How do they compare to yours?

Are most vendors opting for auctions, or are private treaty sales more common?

What kind of timeframe are properties spending on the market before they’re sold?

This information can help you to set realistic expectations for your own sale, and give you an idea of the things you might be able to do to make your home stand out from the crowd.

It’s importnant for you to do this preliminary homework before you speak to selling agents. You know what they say…forewarned is forearmed.

2. Spend time and effort where it counts

This is where it really helps to understand the local market — or find a great agent who does. 


Don’t throw good money after bad redecorating areas that buyers won’t be focused on.

Instead, direct your energy and hard-earned cash to improving the key features of the home that will stand out.

Bathrooms and kitchens tend to be the areas that make or break a sale, as potential buyers are put off by the expense of renovating them.

Even cheap cosmetic improvements — such as a coat of paint, spraying tiles and installing nice new cupboard handles — can make the world of difference.

For outdoor areas, a thorough tidy-up to create the impression of low-maintenance living should do the trick.


3. Understand the importance of staging

The right furniture and accessories can make even the most dowdy of properties look promising. Furniture

Hiring or borrowing from a friend is a budget-conscious alternative to engaging a staging consultant, although depending on where your property sits in the market, their services may be well worth the investment.

Again, it pays to know the market here.

If you find you’re marketing to an area with lots of young families, stage the study as a nursery or playroom to win them around.

Remember, you need to present the property as somewhere buyers can imagine living — which means declutter and deep-clean, then set the stage for the dream home.

4. Set an unusual price

The difference that $5000 or even $500 can make to a property listing is nothing short of amazing. House Sale Internet

Us humans are hard-wired psychologically to respond more favourably to certain price signals — it’s why so many retailers use prices such as $19.95 or $18,990, to trick us into thinking we’re spending less.

With most modern house hunting taking place online, this becomes even more important — nowadays, buyers can enter their minimum and maximum price into the search function and instantly be presented with the properties that meet their criteria.

Rather than setting the price at $760,000, which would see your home cut off the list, try “offers over $747,500”, or “ESR $730,000 – $760,000”, to catch the buyers who are capping their search at three quarters of a million.

5. Give the listing a refresh

If your property has been on the market forever, it could be the case that the advertising material and online listing of your home simply aren’t doing it justice. 41718826_s

Rather than attracting buyers, dreary advertising can actually drive them away – and if your place has been on the market for some time, website regulars will be sick of seeing it!

Jazzing up the listing may even make buyers who had previously skimmed past your property stop for a closer look.

Make sure the photos make the most of the natural light, and present your property as being spacious, clean and inviting.

While you’re at it, consider changing the way the home is staged in the photos too, to give it a real ‘freshness’.

If, after all of this, your property is still sitting stagnant on the market, you may need to look at adjusting your price expectations.

Working with an experienced local agent is your best defence against an overpriced property that fails to attract a buyer, so be look for a trusted real estate agent with a proven track record in your area.

A sellers secret weapon Buyers Agent

Metropole Vendor’s Advocacy Service is a special no extra cost service to property sellers shielding you from many of the “hassles” of your sale.

When selling your property you want to achieve the best price with the least hassle.

Yet our experience as Australia’s leading property buyers agency shows many vendors don’t achieve an optimum sale price due to poor advice or pressure from their selling agent.

Now you can have an independent agent from Metropole on your side when you sell your property.

To achieve the highest selling price for your property, you need help finding the right agent to sell your property, as well impartial and strategic advice on the correct timing, the most appropriate method of sale, the most cost effective advertising campaign and the negotiation process.

Our 6 Step Process To Get You The Best Price

We will:   

  1. Sit down with you and determine your needs.   Sould Property
  2. Recommend the best agent (not agency) for you. We know the best agents and the worst agents as we have been buying from them on behalf of our clients for many years.
  3. Check the agent’s fees and advertising recommendations to save you unnecessary expenses. Should you sell by auction or private sale? How much should you spend on advertising without wasting your money? We’ll tell you!
  4. Monitor the selling agent’s performance.
  5. Consider any offers made and give our recommendations to you. Then we’ll help negotiate on your behalf, giving you our input all the way.
  6. Follow the sale through until settlement.

We charge the Selling Agent a percentage fee based on the sale price of your property which comes out of their commission when the sale is made.

This means that you get our service at no extra charge, but that it is in all our interests that you get the best possible price.  


If you want someone you can trust to relieve you of the process of dealing with the Selling Agents give Metropole a call now on 1300 20 30 30 or click here and leave us your details.

We are independent and work for you — we tell you the truth.

Isn’t that what you want?

It’s the most stress-free way for you to appoint a real estate agent!

from Property UpdateProperty Update

Three tips to assist you to negotiate like a property professional

Let’s face it, when negotiating for the purchase of a property, the average Australian is at a huge disadvantage. 2 Home For Sale

Sales Agents are now highly trained in this fine art and spend their days at conferences, role playing and putting it all into practice at every opportunity.

Some would have had the chance to negotiate on hundreds of deals and built valuable experience every years, while the average Australian would be lucky enough to go through this sales process 2-3 times in their lifetime.

Having been trained in this area myself and been in the “heat of battle” on numerous occasions, there are three key points that I find can give me an edge.

1. Knowledge is key

If you are making an offer on a property, base it on something other than emotion or what you feel it is worth. 


Do your research, start with sales in the last 3 months and a radius of up to 500m from the property in question.

This may need some fine tuning (dates or distance) but is the rule of thumb valuers will use to get an accurate estimate.

If you are basing your purchase price on a number of nearby sales and if they are “superior” or “inferior”, the sales agent will soon realise you know what you are talking about.

The agent should also know these sales and in some cases, may have even overlooked others, this gives you the upper hand and puts you ahead of other buyers.

Importantly, your offer is less likely to be dismissed as it will be more accurate and well researched.

2. Create Urgency


This is one tactic agents use to drive emotion and create FOMO — Fear of Missing Out! Pressure

In cases like and Auction or Tender it can be a bit difficult to turn the tables but in every day negotiations, you should look to put that pressure back on the sellers’ via their sales agent.

One way to do this is to create a Deadline to try and stop the sellers sitting on an offer.

There is different way this can be done, according to your relationship with the agent and how serious you are;

  1. A clause can be written into the contract
  2. When forwarding the contract via email, it can be put in writing
  3. It can be given verbally

If I have a good relationship with the agent I would likely opt for point 2 or 3. 3knowlege Isa Key

However, if I have not worked with the agent before and felt he may not be communicating effectively with his sellers, point 1 would the best course of action.

Most deadlines we put forward would range from 24-48 hours, depending on the circumstances, things like other interested parties, day of the week (leading into a weekend and open home) and your own personal circumstances.

Obviously the shorter the deadline, the more urgency you are creating.

I would also recommend understanding your sellers also, as an elderly couple may not respond well to a 24-hour deadline.

48 hours is generally seen as being enough time to consider and respond with an offer.

3. Understand the sellers needs

I believe this is the most under rated part of the negotiation process and something we have had a large amount of success with.

99% of buyers will only be concerned for their own personal circumstances and miss out on a lot of opportunities by simply not understanding what the sellers’ needs are.

Ask the sales agent questions like; 4property Manager

  • Why are they selling?
  • How long do they need for settlement?
  • Do they need to rent back?
  • Have they already purchased elsewhere?
  • Is there anything we can do to make our offer more attractive?

Everyone automatically thinks that price is the only consideration for sellers and in most cases, it is.

However, we have been successful on several occasions, with a much lower offer simply because we understood the seller’s needs.

It may have been a longer settlement or a 3-month rent back period built into the contract for certainty.

I find a deal will come together when there is often the smallest win for both parties and it is not always about price.

Summary 4property Manager Australia

While Sales Agents are trained to have the upper hand and to create enough pressure to squeeze the last drop out in every sales negotiation, there are things you can do to take control of the situation.

Knowledge is power as they say and being armed with facts and data will send a message to the sales agent that you know your stuff and have done your research.

Putting pressure back on the sellers rather than them taking their time and sitting on an offer will also lead to a better outcome for you.

Finally, it is never just all about the price, understanding your sellers needs and adjusting your offer accordingly will dramatically increase your chances of success.

from Property UpdateProperty Update

12 Motivational Quotes from my mentor Jim Rohn

Many years ago I first learned the concept of personal development from Jim Rohn – the fact that I had to work harder on myself: “To have more we must first become more”

That concept changed my life and still inspired me today.

Here are 12 other Jim Rohn quotes that inspire me:

1. “Humans have the remarkable ability to get exactly what they must have. But there is a difference between a ‘must’ and a ‘want.’”


3. “When you know what you want, and you want it bad enough, you will find a way to get it.”


5. “Without a sense of urgency, desire loses its value.”


7. “Disgust and resolve are two of the great emotions that lead to change.”


9. “What you become directly influences what you get.”


11. “Only human beings can reorder their lives any day they choose by refining their philosophy.”


Bonus Quote:

pablo (18)


from Property UpdateProperty Update

Saturday, March 17, 2018

7 things you need to know to successfully sell your property

It’s a fascinating time to be in real estate. sale sign auction house property market

After 5 or so booming years the market has moved to the next stage of the proeprty cycle, and in many parts of Australia we’ve moved from a seller’s market to a buyer’s market.

And with  interest rates set to remain enticingly low, meaning a greater number of punters will see mortgages as a manageable prospect, making home ownership more appealing.

If your’e thinking of selling your home here are 7 key considerations that could make all the difference when it comes to achieving top dollar for your property at sale time.

 1. Appointing an agent

Choosing an agent can be a daunting prospect. 

Metropole Property Home Buyers Enquiry

After all, you have to work closely with them throughout the campaign and so good communication is essential.

A great way to narrow your list of prospective real estate agents down to the one you eventually appoint is to attend a number of inspections and auctions before you put your own house up for sale.

This way you can see the type of approach they have to potential buyers and how they ‘sell’ their listings.

Once you narrow the field, reduce it down further by selecting say, three candidates and interviewing each.

Ask questions about their fees and charges, as well as how they manage various aspects of the sales campaign, only signing any type of authority on your property when you feel certain that they’re the best person for the job.

2. The costs

Selling property is not a cheap proposition and depending on the value of your home, can cost tens of thousands in agent’s fees and marketing expenses.

Advertising costs can be anywhere from $2,000 to $20,000, according to the type of property and necessary level of ‘glitz’ required from the campaign to produce an acceptable sales price.

calculator coin money save debt

Beware of agencies that ask for any upfront payment, with commission generally charged only once the sale becomes unconditional and settles.

The agent’s commission is usually between 2.0 to 2.5% of the final contract price, but this is something you’ll need to negotiate with them directly.

Just don’t be too tight when it comes to rewarding your real state agent for their efforts.

They’re more likely to give up weekends to open your home for inspection and take people on late night viewings if you’re offering a reasonable rate of reimbursement.

You can also add a little extra incentive when working out the commission structure.

For instance, if the agent estimates a sales price of $500,000 for your property, you might offer them a 2.5% commission up to that figure, and then an additional 5% for anything it fetches over and above that amount.

This could make them work that little bit harder for a potentially bigger reward.

Remember…the cheapest agent is the one who gets you the best price for your property.

3. Campaign preparation

A campaign usually kicks off about ten days after you sign an exclusive and/or auction authority with your chosen agent.

At this stage, you’ll need to appoint a solicitor to handle the legal aspects of your property sale, such as title transfers and payment adjustments.

Meanwhile, your agent should be arranging:camera photograph picture sale house rental sell online advertise vacant buy property

  • photographs of the premises,
  • online listings through all the big property portals
  • print ads as agreed in your marketing campaign
  • erection of a ‘For Sale’ board

Now is a good time to get any odd jobs done that you may have been putting off.

Make sure your home is presented in tiptop shape and if you’re not sure about something, ask your agent.

You might need to freshen things up with a lick of paint here, or a new light fitting there and give your gardens a good going over to maximise your property’s curb appeal.

4. The launch house-computer-search

This is where it gets exciting and a little nerve wracking too, because it’s suddenly all very real and your property is officially ‘on the market’.

Auction campaigns typically last for a month or so, with saturation type marketing and OFI’s occurring throughout the entire period.

The key is to kick off with a bang and be noticed immediately.

Go loud or go home, as they say!

Private treaty campaigns often commence with a lot of noise as well, but then tend to become more slow and steady, with some houses remaining on the market for up to two to three months, or longer.

5. The early days

Agents like to see a lot of action around new listings in the first one to two weeks.

They’ll attempt to generate hype and interest in your property at the outset, but don’t be alarmed when the hoards start to dwindle into a few inspections here or there.

Your agent should communicate with you regularly about the level of interest your property is generating in the market, and whether they believe any changes are required to the campaign, including the advertised price range.

6. The second half of the campaign house property

Things are in full swing now and agents should be using the latter part of your campaign to get a better handle on any genuine prospects.

This is a critical period for auction sales in particular, when agents will speak with and qualify potential bidders to formulate an idea around who might eventually be the new owner of your home.

At this time you should be talking to your agent to firm up a reserve price if your property’s going under the hammer.

Remember, setting a reserve should be based on the market, not your own personal expectations or needs.

7. The auction

While auctions undoubtedly arouse nerves in wannabe buyers vying for ownership of your property, there’s little doubt that the person feeling the most pressure is you – the vendor.

After all, buyers can walk away and find another home, but for the seller your entire future direction hinges on the outcome of this one day. auction buy property bid sell house sale

Your agent will erect auction flags and boards around the neighbourhood, alerting people to the event, and should have a good list of genuinely interested parties who plan to put a bid in.

There’ll be another inspection just before the auction, before proceedings kick off with the auctioneer asking for an opening bid.

During the inspection your agent must make sure formal documentation relevant to the proceedings, including the Section 32 or Vendor’s Statement in Victoria, is available for viewing

The agent might kick up the pace of a slower auction where people are reluctant to bid by using their discretionary vendor’s bid.sold sale

As things proceed – sometimes at a torturously slow pace and at other times, much quicker – your agent will come to speak with you about how it’s going.

They’ll confirm your reserve, because this is the point where the auctioneer can announce that your property’s ‘on the market’.

As soon as you hear those magical words from the auctioneer, you can sit back and relax, knowing that the fall of the hammer is just moments away and you’ll be free to move on to the next exciting chapter in your life.

If you want to read more about the auction process in particular, check out this First time bidders ‘how to’ guide by Will Hampson. He provides some great tips and insights as a professional auctioneer in the busy Sydney market.

from Property UpdateProperty Update

Love the Opportunity | Jim Rohn

Somebody said you have to love what you do, but that’s not necessarily true.Jim Rohn_2015

What is true is that you have to love the opportunity.

The opportunity to build life, future, health, success and fortune.

Knocking on someone’s door may not be something you love to do, but you love the opportunity of what might be behind that door.

For example, a guy says, “I’m digging ditches. Should I love digging ditches?”

The answer is, “No, you don’t have to love digging ditches, but if it is your first entry onto the ladder of success, you say, ‘I’m glad somebody gave me the opportunity to dig ditches and I’m going to do it so well, I won’t be here long.'”

You can be inspired by having found something even though you are making mistakes in the beginning and even though it is a little distasteful taking on a new discipline that you haven’t learned before.

You don’t have to love it, you just have to learn to appreciate America, appreciate opportunity and appreciate the person who brought you the good news; that found you.

Appreciate the person who believed in you before you believed in yourself, appreciate the person who said, “Hey, if I can do it, you can do it.”

If you will embrace the disciplines associated with the new opportunity you will soon find that your self-confidence starts to grow, that you go from being a skeptic to being a believer.

And soon when you go out person to person, talking to people, you will find it to be the most thrilling opportunity in the world.

Every person you meet – what could it be?

Unlimited! inspiration

Maybe a friend for life.

The next person could be an open door to retiring.

The next person could be a colleague for years to come.

It’s big time stuff.

And sometimes in the beginning when we are just getting started we don’t always see how big it is.

So, before you are tempted to give up or get discouraged, remember all success is based on long term commitment, faith, discipline, attitude and a few stepping stones along the way.

You might not like the stone you are on right now, but it’s sure to be one of the stones that lead to great opportunities in the future.


from Property UpdateProperty Update

Friday, March 16, 2018

Australia Inc. is very popular right now

Lots of news articles about immigration in the past fortnight, so here’s a brief look at some very timely figures. Australia Immigration

Australian Bureau of Statistics (ABS) stats showed permanent and long term arrivals surging +4.9 per cent higher over the year to the highest ever level at 787,710.

Seasonally adjusted short-term arrivals also hit a record 760,200 in January 2018, up from 710,200 a year earlier.


It seems quite possible that this number will increase sharply next month since Lunar New Year fell deep into February this year (as opposed to late January in 2017), so this may wreak a bit of havoc with the seasonal adjustments.


Finally, another interesting trend to watch, the number of short term arrivals for education purposes jumped +18.3 per cent year-on-year in January, and also hit an annualised record.


Again, February is the key month for international student intake in Australia, so next month’s numbers will warrant watching closely.

Rapid expansion 


Looking through the monthly ups and downs, any way you look at it Australia’s capital cities are population very quickly at the present time.

A final interesting point of note is how the growth in the overseas-born population is set to be almost exclusively accounted for by immigrants of Asian origin.

As some recent British, Irish, and New Zealander arrivals opt to dribble home — and as European-born Baby Boomers ‘drop off’ the figures, to use an awkward euphemism — this will leave Asian-born migrants as the sole major driver of the growth in overseas-born Australians.

And Australia is a very popular destination of choice right now.

from Property UpdateProperty Update