Posts Tagged ‘investment’

Perfect Time to Buy or Rent

The Real Estate Institute of Australia released their quarterly Housing Affordability Report last week revealing that WA remains the most affordable state in the nation to buy property. The proportion of family income required to meet mortgage repayments in WA fell last quarter to 24 per cent, down by 0.7 per cent from last year.

By comparison, New South Welshers commit an eye-watering 42.3 per … Read the full post »

Buying in Competition

As market conditions improve, buyers will often find themselves making an offer to purchase in competition with others.

Agents have differing approaches as to how to deal with multiple offers but normally will inform buyers that their offer is one amongst others. When a property is offered for sale by private treaty, details of competing buyers’ offers are not normally revealed so as a buyer … Read the full post »

FWC at it Again

Last week, the Fair Work Commission (FWC) handed down a ruling banning the employment of sales representatives on a commission-only basis until November. Related to COVID-19 interruption to normal market conditions, the FWC figured employees who’d met the minimum requirement to move to commission-only shouldn’t be given that choice.

This is off the back of major changes affecting employment in the real estate industry. From … Read the full post »

COVID-19 and the Property Market

What a difference a week makes. In last week’s column I
said, “should we really be putting our lives on hold in such dramatic fashion.”
Well, it seems we ought to be and we have – more or less.

The Prime Minister has banned public auctions and home opens
in order to minimise group gatherings. Real Estate agents … Read the full post »

Playing the Renting Game

By Hayden Groves –

Last week’s front page of the Herald featured Steve Grant’s, “The roll of the dice”, a story about an emerging entrepreneur who’s invented a card game premised upon her experiences as a renter. According to Steve, the game is designed to highlight “WA’s unfair tenancy laws” a sentiment supported by Fremantle councillor Rachel Pemberton.

Cr Pemberton is co-ordinator of a … Read the full post »

Going it Alone

By Hayden Groves  

When deciding to sell, some property owners choose to undertake the task of promoting and selling privately without the assistance of a licensed real estate agent.

Often, the motivation behind such a decision is premised on the sellers’ view that real estate agents’ selling fees are excessive and the rhetorical question, “how hard can it be?” However, less than one per … Read the full post »

The real cost of Real Estate portals

There’s little doubt that digital advertising of real estate is the preferred method consumers use to search for a property to buy or rent. In Australia, about 70 per cent of all properties that come to market find themselves listed on a web portal. This is extraordinarily high compared to other countries where in the USA, for example, less than 5 per cent of properties are listed on publicly accessed … Read the full post »

Use a Mortgage Broker

I read a stat the other day that quoted 60 per cent of all home and investment loans are completed by mortgage brokers. I assume the remaining 40 per cent of people go to their bank directly. The community’s preference to use a broker to assist them in choosing the right bank and loan to meet their needs seems clear.

The Hayne Royal … Read the full post »

How to Buy

A recent dealing with a buyer we met several months ago got me thinking about how buyers typically approach negotiations when buying property. Most are tempted to eagerly point out the property’s apparent – and often obvious – faults. Buyers often “talk down” its benefits and highlight its shortcomings in an apparent precursor to justify a lower-than-reasonable offer to purchase.

Pointing out a property’s … Read the full post »

Purple Bricks Packs its Bags

Budget real estate service model Purple Bricks has announced this week that they are winding up their Australian operations. This is welcome news for consumers of professional real estate services no longer to be lured by an extensive marketing campaign that denigrated traditional real estate agents, promised “no commission” and claimed outstanding results. The news comes after months of grandstanding claims that they were expanding their Australian operations and were … Read the full post »

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