Are you emotionally ready to sell?

Business couple workingWhen someone decides to sell a property there is usually a good reason. It may be something positive like adding to the family and outgrowing your current home or getting a promotion and moving to another town, state or country, or just becoming more financial and wanting something bigger or better.

Yet unfortunately it’s sometimes the complete opposite. It may be due to the death of a loved one and feeling it’s time to downsize, or being forced to sell due to financial difficulties, or maybe you and your partner have decided to go your separate ways and you are selling up to divide the assets and move on. For whatever reason, selling your property – your home, is an emotional journey.  That’s why it’s important that you have a real estate agent who can help you through the process, not only in finding a new owner for your home but also enabling you to move on.

Generally, deciding to list your property isn’t an easy decision, especially if it’s been the family home for a considerable number of years.  It is the role of the real estate agent to advise vendors in the process of selling. The agent needs to show empathy, research the reasoning behind the sale, listen to the vendor and their concerns, and talk them through the process so there are no surprises.

If you’ve spent years making your house a home, raised your children in it and have fond family memories attached to the property, there needs to be a process of saying goodbye and letting go. These are the first things your agent should discuss with you when you approach them about selling. These discussions help determine the best way to proceed and your agent shouldn’t put too much pressure on you to forgo this process for the sake of a quick sale.

I’ve often been asked whether I think it’s harder for a vendor emotionally when it’s a quick sale or a drawn out process. For all sorts of reasons people react differently to the sale process, and no two vendors are the same. The most emotional time for vendors is the time leading up to making the decision to sell. Once they have made that decision and are emotionally ready a quick sale is often better. Quick sales are also a lot less disruptive when you think about how unsettling it can be when selling your home and constantly keeping the property looking its best (especially when you have children).

Your emotional state also plays a big part in securing a competitive price for your home. Just because you think the fireplace is a fabulous feature and the heart of the home, doesn’t mean potential buyers will see it in the same light. Sometimes they may just see it instead as something that is hard to keep clean and maintain. Vendors often expect that their emotional attachment to the house will transfer to the buyer and therefore they will receive more than the market indicates the home is worth. In some cases this may be true, but it largely depends on the target market, if the target market is investors then there is rarely any emotion involved in the buying decision. I’ve also had experiences where vendors have held out for a price that the market will not bear because they are not ready to let go and that is their way of hanging on.

If you’re finding it difficult to take those final steps to sell your property, talk to your real estate agent. The right agent will encourage you to let go, assist you through the sale process and ensure the experience is positive and fulfilling.

It’s the busiest season in real estate, but what’s so special about Spring?

springAre you looking at selling your property in Spring? What is it about the weather warming up that has more people putting the ‘For Sale’ sign on their home and looking for something new?

Traditionally Spring is known as the busiest time of the year for real estate agents, and locally it’s no different. In a football mad city like Geelong, as soon as the footy boots are put away and finals are over, we see buyer activity lift, auction numbers rise, and a high number of properties hit the market. We’ve found in both the Geelong and Torquay markets that sales volumes are usually at their peak during October and November. Continue reading

Is it important to engage a sales agent who was born and bred in your suburb?

While it is important for your sales agent to have good local knowledge, that knowledge can come from modern technology, the Internet in particular, which provides us with tools to find sales results and to be able to provide an accurate appraisal and provide an accurate marketing range with which to go to market with your property.

While the majority of our properties we sell here at Aspiron are in the Geelong and Surf Coast areas, we have successfully—very successfully—sold property throughout Victoria.

The reason we’ve been able to be so successful in selling property throughout Victoria comes down to being able to research the particular local market we are working in with each of those properties.  We are able to provide  a marketing range that is competitive and places that property competitively within the local market because of our ability to research and know that market through new technology.

The most important thing is that your agent gives you quality customer service, is focused on getting the result you’re looking for, and providing a rewarding and successful real estate experience.

Do you really need to spend money on newspaper advertising?

Newspaper advertising was still relevant perhaps five, ten years ago, back in the olden days and was essential because we didn’t have the Internet.  Generally, if people wanted a general knowledge of what was on the market, they’d pick up the local paper on a Saturday morning and they’d have a look through all of the properties advertised there.  For a lot of people it was a lot of time spent on cutting out newspaper clipping and collecting properties they had interested in.  Making lists of open homes to have a look at and trying to fit it all in because generally there were maybe one to three photos of the property in the newspaper and that was if it was a featured property.  A lot of the properties only had a picture of the outside of the house which meant to get a good idea on what the house is worth and what the market was doing you really had to spend the time out and about looking at houses.   Now, the Internet pretty much wipes that out as a requirement, because people can log on, they can do it in their own time, when it suits them—they can do it on the train or they can do it in their lunch hour, they can do it at home, they can do it anytime and they can get an instant understanding of all properties on the market, not just a few agents who advertise in the newspaper, but all properties on the market.   They can compare how any property they might be interested in sits in a market. So the Internet’s convenient, it’s cheap to use, to advertise in, and it’s far, far more effective than newspaper advertising.  Lets face it, the internet is where everyone is and that means its where your buyer is.

Why buyers should establish good rapport with a sales agent

In this post, I’d like to talk about agents and you having a good relationship with them regardless of whether you are the vendor or the purchaser.   While it’s true that the vendor is the side that engages the real estate agent and the agents job is to get the best deal possible for the vendor, their primary job is to get a sale, and in order to get a sale, they need to work with buyers to make that happen.

There are two parties in the equation and without two parties there is no sale.

One of the big things that I notice is the buyer comes to me, often with a combative approach and they think that I’m the enemy. I’m not the enemy. I want to work with the buyer as a real estate agent in order to get a sale. So I think one of the most important things, as a buyer is to not treat the agent as an enemy. Yes, they are working for the vendor, but they need you in order to get the sale through. So establishing rapport with an agent is really important. Have a chat, talk to them, treat them as somebody that’s going to assist you in the process of buying the property, not as the enemy. Talk to them about the property, talk to them about the situation with the vendors, find out as much information as you can in a general conversation with the agent, Having a conversation and getting information from the agent will put you in a great negotiating position and at the end of the day puts you in a better position to make an offer.

As a purchaser there may come a time when you also want to sell your home, so if your getting to know your agent that agent can then become your best ally.

As an investor, this agent may just have some great properties on the books and if you treat them as an enemy and you don’t establish a rapport with them, they’re not going to come back to you and tell you about other good deals that might be happening and when other properties come on the market.

One of the other key things to getting a deal is being in the right place at the right time. That might be monitoring the market, but also being in the good books or on the database of agents could also be another great source.   The agent you’ve build a great relationship with, may come straight to you and you’ll get first crack at a property when it comes onto the market and often that’s when you can get a good deal, particularly for property the vendor might want to sell quickly, so that inside information is particularly important when you’re looking for a bargain.

Having great relationships with both vendors and purchasers is what we strive for.  The purchasers are just as important to us as the vendors because without them we’ve got no one to sell to.

Build a new home or buy an established home?

A lot of people understand how to buy a house.  You go and look at houses, and you look for something you like, and you buy it, but what about if you decide you’d like to build a new home? When you’re building a house, how do you know what you’re getting, what’s the process? Why would you build over buying an already established house?

A lot of investors do think that established property is the only way to go, but there is the opportunity through new homes and house and land packages, and there are some definite advantages of buying a new home or a house and land package over buying established.

The obvious one is stamp duty. On a typical house and land package of around $350,000 or $300,000, you might be saving around about $7,000–$8,000 in stamp duty.  When you are building a new house you are only paying stamp duty on the land. The house hasn’t been built when you purchase it, so you’re actually not paying any stamp duty for it.

There’s a good saving there.

First home buyers, for example, will get the first home buyer grant, but as an investor, you also have the opportunity to get fantastic depreciation schedules on new homes, and if you talk to your accountant about that, I’m sure they’ll be able to tell you about how that can offset the savings against your tax, so there’s that advantage as well.

Often we find with house and land packages, that we can build those or put those together for around about 10 to 15 percent less than what it might cost to buy a comparable established property in that area, so you’re taking on a buying property that immediately has 10 to 15 percent equity in it. So that’s another advantage of it. Of course, having a brand new home can also be an advantage over established, because you’re going to have less maintenance costs, so it’s going to cost you less to hold that property.  So there are definitely a number of great advantages to buying house and land packages when you’re looking at investment.

Here at Aspiron we have a number of house and land packages available and, our motto is connecting people with properties, so our goal is to help as many people as possible achieve their dreams through property, whether it be established homes or house and land packages, we have access to those and can put together the best outcome for an investor looking to get into the property market.

Give us a call, pop onto our Facebook page or our website, all of details are there. Give us a call and we’re happy to get together, no obligation, chat over a coffee or a cup of tea.

Learn How to Subdivide and Develop Property at July’s Breakfast Seminar

Learn how to make money by Subdividing and Developing Property
with our very special guest. Tony Anile has been doing it for over 30 Years

In this month’s seminar we will be discussing HOW to Subdivide and Develop property.

If you’ve ever thought about subdividing or developing real estate, you really won’t want to miss our next Property breakfast seminar, to be held on Tuesday the 9th of July at John Doe Cafe in Geelong. We are very excited to announce that we have a special guest speaker.

Tony Anile, has over 30 years experience subdividing and developing property throughout Victoria, Tony will be there to answer all your questions and to impart his knowledge about developing property as well as discuss the various aspects that you need to know including the pitfalls to look out for and the planning requirements you need to know in regard to successfully subdividing and developing property.

To Book a ticket to our next Property breakfast seminar, click on the How to Subdivide and Develop property here, check out our Facebook page or our You-Tube Channel.

Geelong real estate success seminar

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This morning’s Geelong real estate success seminar focused on the importance of a solid financial strategy when starting a property investment portfolio.

Our guest presenter this month was Mark Petterwood of Australian Mortgage Brokers. Mark has 20 years experience in the property and finance industries, and is a licensed mortgage broker as well as a licensed real estate agent.

The presentation began with an insight into how the banks think and what they are looking for when they assess any finance application. Mark highlighted how the banks see you purely as a business decision and that the personal touch has virtually gone out of the assessment process. Investors therefore need to know exactly what forms part of the assessment criteria including income, credit score and “genuine” savings.

Investors also need to understand some of the lending terminology, said Mark. Things like Loan to Value Ratio (LVR), Equity, and Lender’s Mortgage Insurance (LMI) are important terms to understand as they are essential to understanding your borrowing capacity and to being able to structure a long-term financial strategy.

Mark also pointed out that another essential element to understanding borrowing capacity is the amount of cash and/or equity you needed. He highlighted this in a couple of examples, before going on to demonstrate how, with a reasonable small initial deposit of $23,000 and an income of as little as $60,000 per year you can go on to then create a portfolio of 5 properties over 8 years without any further cash required.

The example Mark chose was based on purchasing house and land packages as opposed to established properties as this saved significant money on stamp duty, provided great depreciation benefits and, if done wisely, creates instant equity in each property.

Following the seminar the feedback was excellent. Attendees were impressed with the “great speaker” and “clear” information being provided and how the “property investing strategy” provided them with assurance that what they are “currently doing is structurally sound.”

Our next Geelong property success breakfast seminar will be held on Tuesday 9th July from 7:15am at John Doe Cafe, Ryrie Street Geelong. This seminar is a must for anyone thinking of subdividing or developing property. Our guest speaker with be a property developer with over 30 years experience in property development throughout Geelong and Melbourne.

To book your place at our next seminar go to our facebook page or website and follow the links.

Seeking talented agents to join the Aspiron team

Aspiron are seeking expressions of interest from talented and dedicated Geelong real estate agents who wish to work under a new and exciting real estate agency model. You will be given the opportunity to work independently under a commission structure that rewards you properly for your hard work and talent.

  • Work with a team of agents determined to break the traditional real estate mould by harnessing the power of modern technology
  • Be free to develop your own independent business under an exciting new Geelong real estate brand
  • Be rewarded under a payment structure that recognises your efforts, talents and exisiting networks and pipelines
  • Be provided with a catchment region and receive qualified leads
  • Have the opportunity for multiple income streams under our unique business model

Opportunities exist for both fully licensed agents or agent’s representatives. To express your interest phone Scott Hunt on 0431 474 721.