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Licensed Real Estate Agents Shelley and Mark are renowned for their exceptional customer service, strong local knowledge and high ethical standards. 

 
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What is an exclusive listing & why does it make a difference?

by ShelMarkblog In Uncategorized

07 December 2017

When you decide to sell your home you naturally want to get the best price within a reasonable timeframe, right? Some people believe that it makes sense to enlist the help of more than one real estate agent to increase their chances of achieving these goals.

While this makes sense in theory, there are a number of benefits for signing an Exclusive Agency Agreement. For starters, it simplifies the sales process for you and gives your campaign a more dedicated and focused approach.

What is an Exclusive Agency Agreement?

An Exclusive Agency Agreement occurs between a seller and their chosen real estate agent or agency. It excludes all other agents from representing your property for the contract period and means you have one central point of contact for the sale of your property.

What is an Open Agency Agreement?

This is the opposite of an Exclusive Agency Agreement. The Open Agency Agreement leaves you free to list your home with multiple real estate agents. While this may appear attractive as you will presumably have access to more buyers, the downside is that none of the agents are likely to give your property their full commitment.

The pros and cons of an Exclusive listing

The overriding benefit is as the name implies – exclusivity. It means you will have the agent’s total commitment to your property and the return they receive is entirely dependent on the result they achieve.

The only downside is if you end up with a ‘bad agent’. Then you’re limited in how much control you have over improving the situation if things aren’t going well.

The bottom line

An agent’s income is earned from sales, not listings. If an agent has the exclusive responsibility to sell your property, they will work hard to achieve a result you are happy with. That way it will be celebrations all round once the property is settled.

Contact us if you’re still confused and would like more information.

 


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We’re moving! How to break the news to your kids

by ShelMarkblog In Uncategorized

30 November 2017

Moving house can be stressful and unsettling time for all of us. But it can be especially tough on children. Because of this, some people try to keep it a secret from their children for as long as possible. But this really does more harm than good.

If you are about to move house, it is really important to keep your kids informed and included in the process. There’s a lot to do to get ready and you will achieve so much more if the smallest (and loudest) members of your house on your side!

Here are our top 5 tips for telling the kids:

1. Don’t hide it from them – Your kids will pick up on the fact that something is going on. It’s far better to be open with them than have them worry what all the whispers and anxious faces could be about.
2. Be honest about why you’re moving (even if it’s for a less than ideal reason) and be very clear about what happens next.
3. Try to maintain your normal day to day routine as much as possible in the lead up to the move.
4. Explore the new neighbourhood together – Perhaps a play in the local park, a treat at the local cafe or a visit to check out their new school.
5. Give them responsibilities to ensure they are involved in the process – Ask them to help you make a to-do list. Give older children a box and tell them they are responsible for packing the games etc.

If your child is really anxious about the move, try diverting their attention away from themselves and onto the family pet or a younger sibling. Explain how the pet or baby brother/sister may get scared during the move so you need them to take extra special care of their dog/cat or baby brother/sister on the day. This becomes a project for the child to focus on and gives them a sense of responsibility and pride.

 


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The upside of downsizing for non-retirees

by ShelMarkblog In Uncategorized

23 November 2017

Real estate writer for CoreLogic, Cameron Kusher and his wife recently sold their five-bedroom house in the suburbs and moved, with their dog, to a three-bedroom ground floor apartment in the inner-city.

Nothing unusual there, except for the fact that Cameron and his wife are not empty-nesters or retirees; to the contrary they plan to have kids one day.

So why did this couple and their dog opt for apartment living at this stage of their lives?

Below are the key points Cameron wrote in his blog about why they made the move …

• When two people and a dog live in a five-bedroom house, it’s a lot of work and there are also a lot of costs associated with maintaining a house of that size.
• They found themselves closing off unused rooms in the house.
• Neither Cameron nor his wife particularly enjoy gardening, so they found maintaining a garden tiresome.
• Cameron travels interstate for work quite often, meaning most of the housework needs to be done on the weekend “when quite honestly, I would rather be doing almost anything else”.

The benefits of downsizing & inner city living according to Cameron:

• Close to all amenities and they can walk everywhere.
• They have an array of restaurants, clubs, bars and cafes on their doorstep.
• They are close to work, meaning they are home much earlier and have more time to enjoy leisure time.

So what about when they decide to start a family?

Cameron writes, “Think of how many families live in the larger European and American cities. You see very few houses anywhere near the city centre.  We chose a unit of a good size, in a building which is predominately lived in by owner occupiers with onsite amenities and directly adjacent to parks and the river and nearby to schools.”

In conclusion, there is no reason why apartment living should not be seen as a viable alternative to detached houses, especially given that it generally comes at a much more affordable price point. This is particularly true for apartment complexes that have been designed with liveability in mind – in terms of product type, product size, local amenities and location.


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Meet the market when pricing your home

by ShelMarkblog In Uncategorized

16 November 2017

The latest data from the Real Estate Institute of WA (REIWA) shows more than half of all sellers in WA (53.4%) have to discount the sales price on their property in order to sell. What’s more, the average amount they’re discounting is 7%.

REIWA President Hayden Groves advises that if you’re on the market or considering selling, you must adapt to the current property conditions.

This is better than dragging it out and eventually discounting in order to meet the market because all that does is extend the timeframe to sell.

The September quarter data revealed that it is taking an average of 70 days to sell, which is almost two and a half months. If you want to beat that average, you need to consider a different pricing strategy.

Here’s what you need to do to achieve a faster sale:

1. Meet the market from the outset – The number one reason a home stays on the market for longer than it should is if prospective buyers consider it over-priced.

For a faster sale, be realistic about the price from the outset. As real estate professionals, we conduct a thorough comparative market analysis before appraising a property and are always honest about a property’s marketplace value. We will never tell someone a price just because we think it will make them happy.

A realistically priced property will attract more buyers and, subsequently, more offers and competition. If you have not had an offer within the first 3 – 4 weeks of your campaign you should consider if the asking price is too high or if the marketing or sales method are not right for your property. A professional agent will always communicate with you openly and honestly and offer the best advice moving forward.

2. Consider an auction – More and more West Australians are showing interest in auctions because of the many benefits associated with this method of selling, including a faster sale. It currently takes an average of 27 days for a seller to secure a buyer when selling at auction.

Selling via auction can help your property stand out from the competition. It can also separate the genuine buyers from those who are just looking.

Click here for another 2 points recommended by Mr Groves.


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Hope returns to Perth property market

by ShelMarkblog In Uncategorized

09 November 2017

Encouraging news just in from the Real Estate Institute of WA (REIWA) indicates that the worst of the Perth property market is now behind us. Preliminary September quarter data has mirrored those in the June quarter and revealed steady or improved levels across most key markets and a general stabilising of the market overall.

REIWA President Hayden Groves said the fact that conditions mirrored those experienced in the June quarter indicates the Perth property market may have finally “found its floor”.

“We’ve observed six months of stable conditions, with both the June and September quarters posting consistent results. Historically, before a market improves there is a sustained period of level stock, sales activity and house prices, which is what we appear to be witnessing at the moment,” said Mr Groves.

Other interesting stats revealed in the preliminary data

Median House Price – $499,000 (expected to rise to $515,000 once all sales have settled. This is $5k more than the median house price in June).

Median Unit Price – $395,000 (expected to rise to $407,000 once all sales have settled. This is on par with the June quarter median unit price).

Sales Activity – Expected to exceed 6,000 once all sales have settled (not far off the 10-year quarterly average of 6,780).

Listings – 13,043 (7.3% lower than listings recorded at the end of June and 7.9% lower than listings recorded at the end of September 2016).

Average days on market – 70 (with fewer sellers needing to reduce their asking price).

Mr Groves said the numbers are promising. “With sales activity trending up and listing levels declining, this has improved net demand across the metro area and contributed to the healthy sales figures we’ve seen this quarter.”

Click here to read the full report.


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Common mistakes buyers make at auctions

by ShelMarkblog In Uncategorized

02 November 2017

With auctions becoming increasingly popular in Perth (and for good reason too) we have been sharing articles recently to educate our subscribers on the sales process that is very popular in other parts of Australia but, until recently, has been largely avoided by Perth home buyers and sellers. This blog highlights the most common mistakes buyers make at an auction.

If you’ve been looking to buy a property for a while and you’ve attended an auction or two you may have witnessed some bad buying behaviour.

Love them or loathe them, auctions present buyers with a level playing field, which is a positive thing. That being said, there are 6 common mistakes buyers make at auctions that you would be wise to avoid.

1. Lack of preparation – There is nothing worse than the hammer falling only to discover that the deposit that’s due or the settlement date that’s required can’t be met.
It is vital to consider all aspects of the auction process before auction day, from how much deposit is required on the day to the agreed settlement terms, the legal review of the contract and determining who will bid and who will sign the contract.

2. Failing to review the contract – Some properties have covenants preventing the new owners from certain activities or making changes to the property. Avoid nasty surprises by reading the contract thoroughly BEFORE bidding on the day.

3. Failing to stay in touch with the agent – Sometimes properties up for auction sell prior to the day if any offers received early are good enough. Without staying in touch with the agent, you could find a sold sticker on the signboard without having had the opportunity to put your best offer forward.

4. Letting emotions rule – Some buyers become overly caught up in the emotion of it all, causing them to become very competitive and potentially end up paying more than they set out to pay. It is very important to have a firm budget in mind and stick to it. If there’s someone at the auction who is happy to pay more, walk away and accept that it wasn’t meant to be.

5. Being too scared to bid – Being intimidated is another common mistake buyers make. Some buyers are too nervous to even put up their hand to bid only to end up regretting it when the home of their dreams sells for a price they would have been happy to pay.

6. Neglecting to arrange unconditional finance – This mistake is probably the worst one a bidder can make because, unlike the process when a home sells by private treaty, auctions require the successful buyer to sign an unconditional contract and pay the deposit on the day. This is regardless of whether the finance has been approved or not. If the buyer is unable to obtain finance they lose the deposit and could even be sued for damages if the vendor suffers any losses associated with the default.

7. Making incorrect assumptions about the Auction process – Many potential bidders think they know how the process is going to unfold and refrain from bidding because they presume one thing or another. For example, ‘you always must be registered to bid’ or ‘dummy bids are allowed’. Talk to the Agent prior to the Auction and ask lots of questions about the process. You may find your presumptions are wrong and you are comfortable to make a bid!

Buyers who succeed at auction are confident in their budget, understand what needs to be done to prepare for the auction, and are confident bidders. These are the 3 keys to bidding like a professional.

 


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Top 5 real estate searches revealed

by ShelMarkblog In Uncategorized

27 October 2017

In today’s digital world it won’t surprise you to learn that most real estate purchases begin with an online search. Most buyers will check your property out online (as well as a number of others) well before they contact an agent.

The words people are entering into the search bar reveal a lot about what buyers are looking for right now.

Australia’s number one site for real estate, realestate.com.au conducted some research into the top terms people entered into the search bar between 1 January and 31 August 2017 when looking for property online.

Some results may surprise you…

All over Australia, it seems Aussies love nothing more than the idea of owning a home with a pool.

So topping the list for search terms input on realestate.com.au was POOL.

Coming in at number 2 was the humble GRANNY FLAT. The rise in the popularity of granny flats in Australia is not only an indication that more families are pulling together, but it also indicates that Aussie home buyers are more savvy today and are realising the potential of earning a secondary income from owning a granny flat and how a granny flat will increase the value of their home.

Number 3 was WATERFRONT – not surprising given our love of the water and the fact that we are a nation surrounded by it.

Number 4 on the list was VIEWS, with this word being a popular search term in all settings – urban, rural and coastal.

And finally taking out the number 5 spot was BEACH, again no great shock with this one given our love of Australia’s beautiful coastline and idyllic beaches.

Knowing what buyers want can help you decide where to buy/what to look for in terms of future capital gain potential as well as what to do with your existing property, such as that pool you have been considering.

 


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The ‘W’ word and why it’s so important to talk about

by ShelMarkblog In Uncategorized

19 October 2017

Talking about what happens to your assets when you pass away is not the topic of choice for most people. However it is one of those difficult conversations that is important to have with your loved ones. And one of the most important assets that must be considered and talked about during this discussion is your home.

Why have a Will?

Most people assume that their partner or their children will automatically inherit their estate (including the family home) when they die. However this is not necessarily the case. That’s precisely why having a Will and understanding the laws around property ownership is so important.

No matter how straightforward your circumstances appear to be on the surface, having a Will ensures your final wishes are followed.

If a person passes away without a valid Will in place, they are said to have died ‘intestate’. This means that any assets they own (including the family home, which for most people is their greatest financial asset) will be distributed according to a set legal formula. This could mean that your assets could be distributed in a way you would not want them to be.

Creating a Will is even more important if you have young children.

Click here to read the full article that explains who should have a Will, how to create one and why you should talk to your family about it.


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Selling with pets – the do’s & don’ts

by ShelMarkblog In Uncategorized

12 October 2017

Almost one in two of us have a pet these days and as much as we all adore our furry four legged friends, it’s a different story for potential buyers.

The truth is, when selling your home your pet could be your biggest liability.

When selling you have to be objective about the way your property is presented and, like it or not, that includes your pet situation.

You must make sure your home appeals to the broadest spectrum of buyers possible and that includes buyers who don’t like animals for whatever reason. Some may be allergic to cats while others could be hypersensitive to animal odours that you may not even be aware of.

Here are 5 practical tips to keep in mind when selling with pets.

  1. Clean your home thoroughly, including removing any pet hair.
  2. Remove pet odours (often owners become so used to the smell that they are oblivious to it).
  3. Repair any damage caused by pets.
  4. Remove animal droppings (this may seem obvious but, believe it or not, there are some sellers who neglect to do this).
  5. Remove your pets from the property during home opens.

For more information, click here to read the full article.


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Painful selling lessons most sellers learn the hard way

by ShelMarkblog In Uncategorized

05 October 2017

According to real estate agents from all corners of Australia, there are a few common lessons sellers learn the hard way. We have listed them below.

Letting an early offer go in case a better offer comes along

This mistake was mentioned time and time again. Many sellers assume that if they receive a decent offer on their property within days of listing it, then it would be a mistake to accept it because a better offer must surely be just around the corner.

The truth is, the first decent offer is often your best offer. Many sellers make the mistake of assuming all buyers will come in low. That is not always the case. If the first offer is a good one, consider it carefully and don’t pass it by in the hope that the next buyer will offer more. The longer a property is on the market the less likely it is that this will happen.

We have encountered this many times over the years with sellers who have ended up selling for less than the first offer because they wanted to hold out for a better offer.

KEY LESSON – don’t be suspicious of and disregard the first offer just because it comes in early. Follow the advice of your agent. If he or she says it is a good offer, then you should consider it seriously.

Expecting the agent to list the property at a higher value than what the agent tells them it is worth

A professional real estate agent uses a proven formula to determine the market value of a property during the appraisal process. It is based on recent comparable sales in the area. As a seller, it is not up to you to determine how much your property is worth. It is not even up to the agent (he or she simply does the calculations and presents the figure). The MARKET determines the value of the property.

KEY LESSON – listen to your agent as he or she will price your home based on what the current market is prepared to pay.

Letting go of the home you love in case there is a better one

This painful lesson relates to sellers who are also buyers looking for a new place to call home. You may be able to relate from past experience – that house you loved because it was perfect in every way but you told yourself you had to see 12 more just to be sure, only to find that the house you loved was sold a week later!

KEY LESSON – if you love it and can afford it, buy it!

Failing to reduce the price if the property is not generating sufficient interest

The longer a property sits on the market the less buyers will be attracted to it – unless something changes, like the price. If, despite the best marketing and efforts of the agent, your property is not generating interest, the best thing you can do is consider a price reduction to generate renewed interest. Every property will sell for the right price.

KEY LESSON – listen to the advice of your agent – he or she is constantly assessing the marketplace and the feedback of buyers who view your home.

Going with the cheapest agent, not the best

This is another common mistake sellers make in the assumption that they will save money. However, as is the case with most things in life, you get what you pay for. A professional agent may charge a bit more for their services but will work hard to ensure their client achieves the best sales result in the shortest possible time-frame. Most low cost agents won’t work tirelessly to actively follow up every lead and negotiate fiercely to extract the highest offer from a buyer.

KEY LESSON – you get what you pay for.


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