Okay so normally I'm a dickhead on these forums, I figured I may add something of value to this forum.

By trade, I work in property. Did anyone have any questions out of curiosity or to help them with property on this forum?

I will not be using this as a way to spruik my own business, not at all. This will not be mentioned.

Did anyone have any serious questions about the Australian market or about how to best buy/sell/invest or the process itself?

Brand new estate agency has opened up just for my local suburb. My neighbour is one of the partners, but i think it's just a side project for him.

The initials are NRRE right? I saw an ad for them

Yeah, that's the one.

they needed one in that area tbh. There hasn't been any precense

One of my local estates are giving out free appraisals this week I think it is. Basically they're going to door knock and evaluate your house. Sounds like they're desperate for some listings.

I have slim to no interest in getting my property valuated. Particularly because I'm mid-renovating and don't want an estate to see my house a self-made wreck :lol:

Every agency does that.

Its not desperate, they'll do it in order to get your details and keep in contact with you so when you eventually sell they've been talking to your for a while.

Appraisals are always free. Never do we charge for them.

didn't you mention on a podcast that you are only a 19 year old trainee? i know young people think they know everything but be careful giving people advise under false pretences.

I was previously under a junior role over a year ago however I have since moved companies, changed roles.

You don't need to be 40-50 to sell or know real estate. Often the industry phases them out in a way simply due to the fact that the nature of the industry has changed.

I am not going to give out market trends. Those are always simply opinions. The processes are something entirely different and is something I am qualified to do and have been for the last year full time.

EDIT: Speaking of podcast, I would have mentioned it over a year and a half ago when I went under a junior role. Reason why I went off that show for 6 months.

I haven't ever been employed as a trainee, and was a junior for 1 month.

I am currently working in developments in a growth zone of Sydney, dealing with LO, Devs, of the plan and acquisition work. On the side I often step in to assist with the residential side it is not my number 1 task.



Edited by notatroll: 30/3/2015 12:46:47 PM

Interesting.. well in 3 years of being at this place, this is the first pamphlet I've seen saying they'll be door-knocking and giving them. I've received junk mail from a few real estates locally, relatively frequently though.

I'm insanely comfortable with my house, and its potential value. It was originally listed for $500k, but by the time we bought it we got it for $320k. I've had a few friends who are pretty switched on when it comes to real estate and they're amazed it went for anything under $350k, if not 400. So I feel like if we ever need to sell, it shouldn't be too much of a hassle and hopefully some of the things we've done to the house (added on a 75 square metre deck, adding an ensuite in to turn it from 3br 1 bath to 3br 2 bath, etc) will only further add to its value.

I regularly get letters from real estate agents about with things like "hey we just sold a house in your area like yours for $xxx".

I've never had contact with them and I know due to the incorrect title for my wife's name they grabbed our details from the land titles registry. I think this sort of junk mail should be illegal.

just a new age marketing ploy. It has the guise that you'll be receiving something instead of the standard phone call or door knock asking for your business. It depends on the area. Up there it may be more relaxed. Head into the inner west or north west of Sydney and marketing is more aggressive and direct and you'll have several different means of marketing enter your house by many different means.

That's quite a good deal you got, seems to have listed for a lot more than it was worth, having said that going in blind having not seen it or studied the trends of the area.

Definitely have added value. it's all about maximising the lifestyle and liveability. If people feel they can move straight in without doing much work, it'll be premium.

Not just the land titles registry, most likely a mailmerge with RPData, which rips from Land Titles and various other sources.

And yes, they are so often wrong.

When it was listed for 500k (it was a year before I bought it, and with a different agency) it had offers of 350 and 400k - I know this because it was my cousin who put said offers in.

Then what happened is the old lady who owned it (her and her husband built in 70 odd years ago) got quite sick, and her children couldn't afford her bills related to her illness plus the nursing home she was in, so they needed to sell it quick-smart. So they changed agency, and I had signed, sealed and delivered within 4 days. Long story short, I even bought if for $4k over the asking price - it was listed for 319 and after a bidding war with me and another person who I'm still not even certain existed, I got it for 323k.

So we were stoked with our purchase!

^^ can confirm some estates send me out letters to my mrs and I, and they continually spell her middle name wrong :lol:

Edited by pv4: 30/3/2015 01:41:43 PM

Aren't we in a massive real estate bubble atm that's about to pop?

-PB

I'd like to know why it requires an household income of 200k + to buy a house within 30min commute of the Sydney CBD.

http://www.dailytelegraph.com.au/news/nsw/suburb-salary-interactive-map-where-you-can-afford-to-buy/story-fni0cx12-1227280866836

Yarp, housing prices and mortgages are fucking retarded atm.

-PB

Well what can you say ? I have a stab.
OS investors ? raising the average price considerably close to the CBD last 10+yrs.
Never enough listings - raise's demand therefore pricing.
High % of new migrants want to live in Sydney.
High % of Asians have more $$$$ - willing to pay a lot more.
Boomers got $$$ to invest.
etcetcetc.....

Close by to me a friends neighbors house went to Auction Saturday.
We live 10k's from the CBD of Sydney.
This house is around 30yrs old, typical old style build red brick veneer that had been rendered a few years ago, well presented, 3 bedder, 1 bathroom, another psuedo small bathroom in laundry + backyard pool.
Under the hammer for $1.638m ! roughly 650sqm.

Pretty sure it's been proven os investors are such a small part of the market that they have little effect on prices on their own.
Demand is the number one factor in any market.
Asian money is certainly a part. I looked at a 4 bed townhouse in the inner west. Little asian girl asked the agent how much, and when he gave her the price guide, she replies 'that sounds OK, I'll call my Dad'. It ended up going to 1.4m.
What I really don't get how many people out there can afford the kind of prices achieved in the example you gave in your second post. 1.6m for 3bed 1bath?
Are Australians that addicted to real estate that they will anchor themselves to a mortgage like that?

Negative gearing assists investors in pricing first home buyers out of the market.

The trends seem to indicate little over a year before most areas start showing the slump. But everyone has a different opinion.

What I've said is the opinion of the local offices in my RE Group along with mine. Area can be a major factor too.

What ML says is quite correct.

You'll find that overseas investment hasn't been the biggest player, greedy vendors and banks overlending much earlier on has caused it a lot.

The developers who overprice and drive up median values, as well as Major works in various difference sectors also is a contributing factor.

There are a lot of factors that are in play. It is dependant on the area itself, the local trends etc. But everything is relative. Most of Sydney seems to move with the rest. In this bubble and upward trend at least.

Also the above article is based on Median House Prices in those suburbs as well as the average lending schedule and capabilities. It is not iron clad by any stretch. You could receive different eligibility to borrow as well as different median house prices.

notatroll - why aren't you out prospecting?

Anyone wants a second (more seasoned) opinion on anything notatroll says, call on an older sales consultant... At your service.

I work on devs now. No prospecting needed for me.

Didn't know you were in the industry also!

Currently in the search of a 3-7 acre rural estate with a mortgage around 1m.

Anyone got any advice in terms of savings, home loans, negative gearing, tricks to watch out for, tips etc?

Watch out for real estate agents. I did my pre-settlement inspection and no curtains were in and they had taken out a chandelier. So they replaced the chandelier but the lazy fuckers didn't put a light bulb back in. Like what the actual fuck? The previous tennant (I bought a property from an investor) even took all the light bulbs in the house bar 2. They also put the blinds back in and did an atrocious job.

My recommendation when buying a house, look at everything in detail. Real estate agents are the scum of the earth and will say nothing.

Also don't get sucked in to agents telling you that the owner really needs to sell and will seriously consider a low ball. They won't, it's a tactic to get your signature on the paper and then work towards what the owner actually wants. Most dishonest tactic ever.

I always say watch out for agent tactics. Lots of snake oil salesman tactics out there.

Remember the agent works for the vendor not the buyer. Doesn't excuse dodgy tactics but still be mindful.

I see you are in Canberra. PM me I have a contact just depends where you are looking