Step by Step: the ultimate guide to a successful sale!

You’ve decide to sell your home so I guess you should just pop up a For Sale sign and wait for a buyer? Ha! In reality the sale process involves a little more than that, however if you take the time to understand the steps involved, the selling process can be relatively straightforward, stress-free and dare I say?…..enjoyable!

Below is a step by step guide to effectively and efficiently sell your home without forgoing your sanity!

 One: Have a plan

Think about the end result. When you do sell, where are you going to move? Are you buying before selling? Will you rent? Go on a holiday? What will you do once the new buyer signs the dotted line? It’s important for you to think beyond the sales process to ensure you remain cool, calm and collected once the deal is done.

Two: It’s Agent time

Selecting the right agent will be one of the more important decisions you have to make so make sure you put in some time to research. Check out your local agents, look at their results, meet with them and work out who you think will help present your property in its best light.

 Three: How do you want to sell and how much for?

Alongside your agent you will work out the best way to list, show and sell your home. You will also need to determine the price. Now I’m all for Big Hairy Audacious Goals but it is important in this step to maintain a sense of reality. Look around at your market and set a price that is realistic for your home and location. Your agent’s local knowledge will be instrumental here so make sure you let them work their magic and trust their judgement when it comes to price setting.

Four: Enter the Legal Eagles

It’s time to sign your life away….no, not really, just an agreement with your chosen agent!

Five: It’s show time

Advertising, Internet, photos and showings are the next phase of the sales process. This is when you need to step up the plate and make your house sparkle to maximise the impact to your prospective buyers.

Six: Negotiate, negotiate and negotiate again

We are one step closer to that For Sale sign going up. Your Agent will play an integral part here in mediating between you and the prospective buyer to determine a sales price. Once an amount is agreed to, a deposit will be paid.

Seven: Officially under contract

You’ve agreed to a price, the deposit has been paid so now is the time to call in the settlement agent and the banks to ensure all t’s are crossed and I’s dotted.

Eight: Settlement day!

This is it, pop the champers and stick the giant SOLD sticker up. Sale complete! ‘gone’ are any legal rights to the property and ‘in’ is a healthy new bank balance as the final payment is made.

If you have any questions about the selling process or want to know more about recent sales in your area, contact any of our team at Platinum Realty Group; http://platinumrealtygroup.com.au/about-platinum/meet-the-team

Or contact me direct on 0419 917 209

 

John Kemsley

Managing Director

Platinum Realty Group

 

Renovating for Profit

 

You might think it seems like an easy decision… renovate and then make lots of money right!  But renovating for profit is not that simple.

There are a number of ways you can add value to your property through renovation. 

What is true is that renovating a property can bring you profits, even in a flat market.  Renovating is about bringing a fresh new look, feel and design to a tired old property.  If planned well – you can make really good money to put towards your next property or pay off your home loan faster.

Here are some factors to consider when renovating for profit

• You need to consider the area that the property is located in – as I always say – buy the worst house in the best street or best suburb
• You could consider getting a real estate agent in to give you some facts and figures on the suburb, property types and values in the area – they will also be able to give you  some guidance on how you can add value
• Don’t buy with your heart – if the house is not for you – then get your head making the decision not your heart
• Don’t over capitalize – make sure you have a decent renovating budget in mind and an achievable growth figure and stick to it
• Be prepared to get your hands dirty – the more you can do yourself, the more money you will save.  For example if you can remove tiles yourself and demolish a bathroom you can save hundreds of dollars in labor
• Get a specialist in when you need one – things like tiling, plumbing, electrics and possibly even painting can be best left to the professionals
• Add a bedroom whenever possible. You can add serious dollars to your property by adding a room – for large rooms, consider adding a partition or turning a nook into a study
• When you get quotes, get at least 2 per task (utilize your feiends network and ask around for good LOCAL suppliers. Make sure each supplier quotes on exactly the same item – apples for apples!
• Watch some TV – by that I mean watch the renovation shows that are all over our screens like the BLOCK – you can get some great tips and ideas from these shows
• A good budget figure to work to is 10% of the purchase priced of the house
• Allow a minimum 10% contingency on top of your budget – maybe even 15%

Remember, always focus on your end audience!  Who are the people who are going to buy a house like yours and in that suburb – then make sure you provide a solution that suits them.

Here is a scenario for you.

Say you are looking at a property in a suburb where the median price for a 4 x 2 is $550,000 – (this is for an average property in the area – a well renovated property might sell for $575,000).  You have found a run down property on a big block for $450,000, then you need to add your purchase fees including stamp duty  – I would allow around $15,000 to cover everything.  The purchase price is $465,000 now.

You then allocate a budget of $40,000 which you want to cover the following items:

New kitchen, bathroom, new flooring, window fittings, painting throughout plus landscaping and the front facade.  Then add in your contingency of $4000.

Your new purchase price is $509,000.

If you then sell the property for the median price in the area – you would make a profit of $41,000 less selling fees of around $12,000 – so total profit of $29,000.  If you can sell it for the price of a good renovated property in the area – you could make up to $54,000.  Now that’s not a bad days work… or lets say 3-6 month work.

You do need to factor in mortgage repayments too over the time you hold the property for renovation.

Managing your Money

Staying on top of your weekly finances can be a big task.  You have to consider your grocery items, car, petrol and travel expenses, health, rent or mortgage, school and other costs if you have children and then there are the costs associated with your lifestyle and holidays.Here are some great tips to help you plan your budget and save some money.

Budget Planning Tips

Start by writing down all of your known expenses into a spreadsheet  – this should include absolutely every known expense like

• Rent or mortgage payments
• Council fees
• Groceries
• School or study fees
• Gas, water and electricity
• Rates and taxes
• Medical/dental fees and private health
• Insurances
• Car and petrol or public transport
• Holidays
• Clothing and personal care like hairdressing etc
• Add in a contingency or miscellaneous budget for unforeseen items like birthdays, gifts, urgent medical, leave a good amount of Christmas too

• Automate as many payments as you can – that way – you are less likely to forget payments and
• Look at ways to do salary sacrifice or payments into your superannuation to reduce your taxation
• Start a savings account if you can and add to it regularly – even a direct deposit from your pay each week – even if its just $25 or $50 can all add up
• Determine your weekly income and deduct expenses – this leaves you with your spare cash.  If you do not have spare cash – you need to look at ways of saving money

Saving Tips

• Get a mortgage health check – you could save thousands over the term of your loan by reviewing your bank and rate and repayment structure
• Look for special offers on gumtree and sell unwanted items on gumtree or ebay – you will be amazed at who might want your items that you no longer need and that you can grab a great bargain’
• Start a veggie patch – great fun and plenty of fun ways to add some colour to your meals
• Buy a deep freeze – if you buy items in bulk – you can save lots of money every week by shooing smart
• Do your shopping for groceries on line – its amazing how much less you buy when you are not tempted by the packaging, your hunger or your kids
• Do regular maintenance on the home  eg scale the clean the cofeee machine, empty the gutters etc – this will prolong the life of things like machinery and reduce emergency repairs and big call out fees
• Shop at the right time of year – wait for the sales or buy ahead if you can (only what you need though)
• Look for specials on items you buy regularly – especially big cost items or regular purchases – but in bulk if you can store it
• DIY – that’s right – do it yourself or have a go – Bunnings and Masters have great classes and courses to give you some tips on how to do things
• Then there are the little things like spend less time in the shower, keep reticulation to the recommended minimum, turn off taps properly, shut doors, turn off lights, wash clothes in cold water, try not to use your dryer

Our final tip – stay away from the shops if possible – an outing to the shops will cost you money!  Try packing your own snacks and head outdoors to the beach or park.

Good luck and start planning today!

The benefits of a real estate blog

Why should you consider a real estate blog?

There are some serious bloggers out there and there are some serious real estate business owners out there.  I’d like to think that I’m pretty good at both.

The Real Estate Industry has become very competitive over the years and operates in an ever changing world of digital and on-line communication. 

Traditional marketing strategies for business promotion and for personal selling still focus on the basics – good old fashioned communication, regular contact, local area knowledge, a network of contacts and the ever ‘not-so-popular’ door knocking.

In todays’ modern world, you need to stand out – everyone is shouting and vying for your attention so you need to think of some ways you can create an edge and a point of difference.

I first started investing at the age of 16, had a lucrative career in the building industry and I ventured into real estate sales in 1996.  I started my own office shortly after in 1999 – opening a new Professionals office.  I re-branded to Platinum Realty Group when I felt the need to take the business to the next level.

I needed to reach out to our audience in my own style, focus on modern communication and continue to develop our on-line presence alongside our daily sales training and mentoring.

Having a real estate blog allows me to share information to the public in a ‘non-selling’ way which I really enjoy.  I don’t have a house to sell, or Property to rent out or a development to offload.  Its just purely about information sharing and becoming known as a safe place that the public can go to for good information related to the real estate industry.

You can also have a little bit of fun, brand into other industries and share greater knowledge.

The Benefits of a good real estate blog:

·      Develop a reputation as a person or brand with good product knowledge

·      Establish your business as an industry leader

·      Share greater insights into the industry with the public

·      Draw traffic to your on-line profiles – including your website, facebook pages, twitter account, Linkedin profile etc

·      Increased traffic means you start to pop up more on searches, therefore you stand out more – better SEO

·      Provide one source of information in one easy to find place – it’s like an on-line encyclopedia

·      Connect people to your business

·      Help convert traffic to leads

·      Build a network

There is so much more to share so I hope you look forward to my next blog.  It would be great to have a chat anytime or hear your feedback so feel free to get in touch any time

John Kemsley

Preparing to Sell your Property

How do you get your home ready for sale?

So, you have finally decided to sell your home.  You may need something bigger, smaller, closer to a school or near family, whatever the reason, you now have to get your property listed and on the market.

Where do I begin?

De-Clutter

This is a great way to reduce unwanted items in your household that you definitely do not want to move.  Donate items to charity, get them listed for sale on www.gumtree.com.au or www.ebay.com.au or have a garage sale

Get clothes packed away that are out of season and store them off the property if you can or in the garage.  Do the same with everything in cupboards so you can show off the room you have.

Start packing away extra picture frames and other items that are busying up your shelves – the neater and simpler everything is the better.  Just present a few key items that are attractive to the masses – not just your taste.

Cleaning and spruce up

Clean out the cupboards, window blinds, and all rooms in the house. The outside of your home is what will give the first impression so it is worth spending a bit of time in the garden.  Mulch the garden beds, pull the weeds, get the grass looking nice and green and aerated and tidy up any potplants.

Repairs, patching and painting

Now is the time to start fixing broken taps and leaky pipes and other minor repairs that need to be made.  A coat of paint will do wonders for a tired house and keep the colours neutral.

Patch up any holes or cracks in the ceiling and walls and get the kids busy scrubbing off any pen and pencil marks around the house

Cracked pavers should be removed and tidied up too and make sure your pool is sparkling clean if you have one.

Adding personality and warmth

You can add a few key items to your home to make huge visual changes.  If it is cold, turn on the heater, if it is hot – keep the air conditioner on.  Clean and crisp white bedding, fresh towels and bath mats that match your tiles, a candle or two in the lounge and some bright cushions both indoor and outdoor can make a big difference.

Check out these awesome outdoor cushions from www.moteef.com.au – imagine how bright your outdoor area could look with a few of these scattered around.

Finally, how do you Choose the right agent

It is best to get a few opinions on the market value of your property.  They can also assist you with some suggestions on how to best present your home for sale.

Look for an agent that has:

·      Local area experience

·      A good track record in sales

·      Gives you a good feeling when you meet them

·      Is supported by a good brand and office with good administrative support

·      Has great marketing- this is the key to getting your home out there – be wary of agents who quickly offer free marketing – that might not be the best way to go

How to save thousands of dollars on your home loan!

Save $70,000 off your average home loan!

Did you know that. the average home loan in Australia today is around $350,000!!  Did you also know that by getting a finance health check done – you could probably around 0.4% off your current loan or more!

Sounds like a small percentage but over the term of your loan – that means you are saving 36 monthly repayments, a saving of around $92 per month and that is in the region of $70,000 over the term of the loan.

Now that is a good chunk of money you do not want to give to the banks!

Some things to consider when reviewing your home loan!

• Are you paying off your loan as fast as you would like?  Retaining your current repayments but on a lower interest rate can literally take years off your mortgage.
• Have circumstances changed since you took your loan out?
• With interest rates at an all-time record low is it worth considering locking in a low rate for the next few years?
• If you have otherdebts apart from a home loan are you prioritising your repayments appropriately?  Is debt consolidation appropriate for your circumstances?
• Are you considering purchasing an investment property?  How will you structure your loans to ensure you can achieve your current and ongoing objectives?
• Many banks have reduced variable and fixed rates over the last few months, has yours?
• Are you planning a renovation, swimming pool or other major expense?  Would refinancing be a better option than a loan top-up?
• Do you have savings earning interest on which you are then paying tax?  You can maintain access to your savings but use them to reduce interest on your home loan with the right mortgage.
• Has your special low introductory rate come to an end?  Have you moved on to the standard variable rate often as much as 1% higher than the introductory/special rates?
• And finally, are you happy with your current lender or do you feel that you could find a better deal?

If you want to find out the answers to these questions above you need to get a finance or loan health check.   You really should do this every few years and ensure you are not paying too much – what sounds like a small percent ends up being a very large sum on money over the life of your loan.

For more great tips check our blog or contact us to arrange a finance health Check today – john@platinumrealtygroup.com.au.

Maximising Social Media in Real Estate

Maximising Social Media for Real Estate Agencies

One of the main reasons we use social media at Platinum Realty Group is for our clients benefit. So, how do we go about maximizing our social media in relation to real estate?

The better we are at communicating and the more people we can communicate with, the more efficiently we can do our job as Selling Agents and Property Managers.

In basic terms, our job is toassist vendors to sell their properties by matching them with the right buyers and to assist Landlords to rent out their properties by finding the right tenants. It’s about finding the right person for each and every property and those people are located all over the place.

In Western Australia there was a surge in the number of real estate agents in the early 2000’s and again since 2010 – there has been a surge in Boutique Agencies popping up with a new office/brand opening almost every month. 

Good real estate becomes about cutting through the clutter and staying one step ahead of your competitors.

Our Social goal is to increase our brand awareness, become top of mind and invite the community into our brand and culture

To maximise our social media presence we have three facebook pages, a twitter account, are building our you tube channel for our substantial list of videos and are very active on Linkedin. 

We are always looking at other options to engage the public through social media as it is a moving feast that changes almost daily.  We also engage a Marketing and SocialMedia company to guide us through the process along with an in house marketing/social media specialist.  You might be surprised but it really is that involved to have a good on line presence, maintain good content and ensure your communications are seen.

We get involved in our local community, speak directly with local businesses to see how we can help them grow their business and we constantly search for good content for our fans and on line community.

The benefits of a good social media presence:

o  A convincing on line presence and profile will assist you to covert prospects to listings

o  It allows you to present yourself as a market leader and provide tangibe good information to the public

o  Over 70% of people trust opinions from their friends and contacts when posted on-line

o  Every successful dealing is often shared with their friends and family which leads to more referrals

o  Our brand is seen more often every day

o  Our on line marketing is highly targeted – allowing us to reach the right people and the right tome of day

For more on the benefits of Social media and its use in Real Estate, contact John Kemsley – Principal of Platinum Realty Group. john@platinumrealtygroup.com.au

Tenant Selection – Getting it Right!

 

Is your Property Manager doing the right thing when selecting tenants and placing them in your Property?

Did you know that a large percentage of Property Managers do not ring the prospective tenants past landlords and employers when they place them in your property!

It is a sad but true fact!

Here are some things you need to ensure your Property manager does when selecting a tenant and that they are the right ‘type’ of person for the job.

1.    They must ring all past/current references – that includes employers (to make sure they are in fact employed) and previous landlords or Property Managers – this allows to check up on how they looked after the property

2.    Explain the Lease – yes that’s right – they need to fully go through the lease at sign up with the tenant – they shouldn’t just leave it with them to sign andn return.  Often the tenant wont read it all the way through (it is boring after all) but an explanation of what is required of them is very important

3.    Communicate with both parties – Good communication is vital for the relationship to work.  They need to be good listeners, be proactive, up to date with legislation and really good listeners.  You should expect a return email or phone call within 24 hours and know that any maintenance items are being attended to as they crop up and before more damage possibly occurs.

4.    Check the national tenancy database (NTD) to ensure they have not previously defaulted on rental payments or been to Tribunal (Court before)

5.    Cross-check private rentals details with the Property Owners – many people say they are renting privately (when they are not) and use false references.  Ensure your Property Manager is cross checking the correct owners details of the property they are in and contacting them directly (not just the name on the application)

6.    Are they a people person – Property Managers need to manage people – often more than they need to manage houses.  It is a balancing act with landlords, tenants and suppliers/government agencies and then reporting back to the Company owners. They need to manage logistics, time-frames, budgets, different personalities and be on top of everything.  It’s a tough job!

7.    Cashflow Management – most Landlords have a bill to pay each month and you need cashflow – a good Property Manager will be on top of your income and expenses and ensure you get a good cashflow each month – they need to actually care about managing this – not just process money in and money out!

8.    Customer Service – are they giving you good service, are they cutting you off when you speak and rushing, are they genuinely interested in your needs?  You will know after the first couple of conversations if they fit the bill in terms of your needs and are providing the service you expect and deserve.

If you want more information on Renting out your Property – you can ring the Property Management team at Platinum Realty Group on 9300 4100.

 

Handy Hints for Saving Money in the Home

 

Sometimes you just need some handy hints for keeping your household spic and span.  Here are a range of handy tips to help you around the home – who knows, we may be able to save you hundreds of dollars in call out fees and labour!!

CLEANING MILDEW: Light stains on fabric may be washed out in the laundry. You could also try soaking in diluted bleach, rubbing with a cut lemon dipped in salt or dabbing with hydrogen peroxide. Keep moist until the spots fade, rinse and wash as usual.

UNBLOCKING SINKS: Flush sink with a cup of ammonia in a bucket of boiling water. Use a piece of wire with a hook bent into the end to scrape out any blocking soap and hair from pipes. Smelly floor drains can be flushed out with a bucket or two of boiling water mixed with ammonia.

CLEANING BATHTUB STAINS: Make a paste out of cream of tartar and hydrogen peroxide. Apply a small amount to the stain. Use a nylon net scrub or an old toothbrush to gently scrub the area. Repeat for stubborn stains, then rinse thoroughly.

REPLACING HALOGEN GLOBES: Never handle new tungsten halogen globes because oils from the hand can cause the globe to fail or shatter. Use a tissue to handle globes and if necessary clean globes with mentholated spirits. And remember to store globes on an angle for them to remain active.

DRIPPING SHOWER HEADS: The solution to a dripping shower head is to replace the washer in the tap handle. A blocked shower head needs to be removed and washed out in hot water and detergent. Then use a piece of wire to clean out the holes

CHANGING TAP WASHERS: Turn off the water main or the hot water supply. Next, turn the tap to its fullest open position, undo the nut, and expose the valve assembly. Lift it out and replace with the new one. You can purchase a valve assembly at your local Home Timber & Hardware store. Then replace the handle assembly, tighten the nut, and turn water on at the mains. Turn off the tap and check for leaks

MOWING TIPS: The basic rule is to under-mow rather than over-mow. Leave the new grass until it is as least 6cm high before mowing. Ensure the mower blades are sharp and remove no more than one third of the grass length the first time. Thereafter, gradually lower the blades.

WEED CONTROL: Most summer weeds can be effectively controlled with one of the herbicides that work only through green tissues, not through the branches, trunk or soil. Purchase a weeding wand for easy application and apply to the mature leaves as well as the new growth.

HOW TO SAVE WATER: Water your garden early in the morning for best results. That’s because evening watering encourages fungal disease and watering during the day is less effective due to increased evaporation. And remember, too much fertilizer makes lawns thirsty and healthy ones use less water than sick ones.

MAINTAINING GUTTERS AND DOWNPIPES: Remove leaves and other debris with a small brush and use the garden hose to wash away the pieces. Then place the garden hose into down pipes with the water turned onto full. A plastic mesh gutter guard can be easily fitted to ensure leaves are kept out.

REMOVING CONCRETE STAINS: Scrub area with hot water and grease-cutting detergents or scouring powders. Solvent based pavement cleaners are also effective and are available from your local Hardware store.

FIXING FLY-SCREENS: Cut wire and pull at the centre of each edge to line strands along the frame and fasten. Cut away excess wire. Mitre-cut the beading, prime the raw wood ends and nail to frame at about 100mm centers. The beading should hide the wire edge and its inner edge flush with the frame’s inner edge.

POOL MAINTENANCE: Before starting up for summer, check your water test kit and buy new bottles of liquid reagents because they only last one season. Switch on the pump, check your pool’s filters for holes and tears and discard old cartridges.

HOME SECURITY: Never leave keys hidden outside the house and it’s a good idea to leave a spare set with your neighbor. Lock away ladders and tools that could be used in a burglary and install movement activated lights to deter thieves.

HOME FIRE SAFETY: If fire breaks out get all the family together and leave the house at once, closing as many doors and windows as possible on the way. Where there is heavy smoke stay low because smoke is less dense closer to the ground where the temperature is lower.     

We hope these were helpful, The Platinum Property Management Team.

Social Media and its Impact on The Real Estate Industry

 

 Social Media and its Impact on The Real Estate Industry

The world of real estate was tracking along quite nicely and then POW, along came the internet and social media.

The world wide web changed the face of modern real estate  as we know it and the way properties are now promoted to the public for sale and rent.

Traditional real estate property promotion was primarily via a listing or lineage ad in the weekend papers with rentals being advertised on a Wednesday. For the super properties, a photo property series was an advanced option.

Today, it is all about getting the right property to the right person, as quickly as possible and with as many attractive visuals as possible.

Whilst the use of company websites and real estate ‘portals’ like those listed below is an absolute MUST these days – many agents are now embracing social media.

www.platinumrealtygroup.com.au

www.reiwa.com

www.realestate.com.au

www.domain.com.au

Social Media is still in its early days in Western Australia as a tool to sell real estate or rent out properties however, In the USA (who Australia tend to follow their social trends), some agencies are sharing new images of properties available on pinterest daily.

Other platforms like Twitter, pinterest, google + and facebook play a big part too although many Australians are just not used to them yet!  Unless you are under 30 of course.

Should we be using Social media? Yes, we think you should.

It’s a great tool for branding, general awareness, reaching the masses quickly, sharing with friends and family, targeting specific groups and ages and so much more.

If you look back not more than 6 or 7 years ago there was a point where people said, I don’t need to use the internet for my listings, I like the newspaper.  There was also a thought that we don’t need a website and the current real estate portals were just in their infancy or not even around then.

As quickly as the need for a website came about – is the need for agencies to get on board with Social Media.  The modern generation do the largest percentage of their web browsing in social media, they take word of mouth advice from friends and if you don’t exist, then you will fall behind very quickly.

Social media allows agencies to promote their brand and brand values, increase public awareness, provide information to the public, position yourself as a trusted company and most importantly – increase your referral networks.

All this means you can reach more people, more quickly and access more buyers and tenants.

In a nutshell, why will all agencies get on board the social media bandwagon whether they like it or not?

o  It is highly targeted

o  Gen Y and Z live there (you’ve seen them – they are the ones who can’t lift their head in public)

o  There are 13.2 million facebook users in Australia

o  There are 12.6 million youtube users in Australia

o  71 % of social media users research via a smart phone (you need a responsive website)

o  The average time spent by allAustralians on their smartphone each day is 2 hours

o  According to Some real estate figures – listings with a video receive over 100% more enquiries than those without

o  Remember:  the key times that social media use occur is out of work hours!

Platinum Realty Group prides ourselves on being market leaders in social media in Western Australia.  You can find us here:

Platinum FB

John Kemsley at Platinum Realty Group

Platinum Property News

Platinum twitter

Platinum Linkedin

John Kemsley at Linkedin

Youtube