Agent Advisor Blog


Read about the latest market trends, see unique listings, and get tips and advice for selling Australian real estate.

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Sydney property

Feature Premier Agent: 5 minutes with John Paranchi

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Feature Premier Agent: 5 minutes with John Paranchi

This week our first Feature Premier Agent John Paranchi from McGrath Hunters Hill shares his predictions on the Sydney property market for the next 12 months, three key sales strategies and some advice for agents starting out.

What trends can we expect to see in the Sydney property market in 2016? 

Overall I think we will see steady growth across most parts of Sydney. Of course, some markets will perform better than others. The markets that I service, including Gladesville, Tennyson Point and Putney, will see reasonable growth over the next 12 months. The main reason for this is the relative lack of properties available compared to the demand combined with great amenities on offer, like waterfront parks, great schools, several major shopping centres nearby and easy access to Sydney’s CBD.

With an outstanding track record for exceptional results and speedy sales (in FY14 John sold 65 homes worth almost $90 million with an average of 31 days on the market) what three strategies do you find are key to maintaining this?

1. Positioning and presentation: You need to get an accurate assessment of the property as today's buyers are very savvy to what's under/over priced. It is crucial to get the price range right up front, then go from there to put the right strategy together and get the presentation of the property right.

2. Meticulous follow-ups: Call your hot buyers before the property listing goes live. It’s so important not to be lazy in following up with hot and old leads. Over the years we've all met hundreds of buyers to whom we promise to call if anything suitable comes along that meets their requirements. In real estate it is so important to make good of this promise with follow up calls. Through continuous follow ups you will gain homebuyers trust over time which will make it easier for you to negotiate with them in the future. Which also in turn means a better outcome for you and your vendor down the track.

3. Communication: Consistent communication with both buyers and vendors during the campaign is key. You should call your vendors daily and meet with them weekly to review progress. It’s also a good idea to talk to your contract holders consistently and try to meet with bidders before the auction.

With over 24 years experience as an agent, is there any advice you would pass on to a new agent?

Apart from working extremely hard and following up with every potential buyer, I would definitely recommend seeking out a mentor when you’re first starting out in the industry. Buddy up with a colleague, which does not necessarily mean someone from the same office, to help you through the process and help to find your feet.

What do you find most challenging about working in real estate? How do you and your team work together to overcome these challenges?

I think the toughest thing about working in real estate is the emotions, both on buyer and seller sides. For most people buying or selling a home is one of the most emotional transactions you'll ever make, so we need to relate to and empathise with our clients and be mindful of their emotions. The best way to go about this is through consistent and transparent communication throughout the selling process.

Why do you list with Homely and what do you like about the Premier Agent product? 

The reasons I list with Homely is because it's clean, easy and fast to use. What I like about the Premier Agent product is that a potential client can really dissect the performance of any agent. They can easily see what an agent has sold up to three years back, and the map listings feature is a powerful way to showcase how active you are in your core area.

View John's Premier Agent profile here or take a look at one of his current listings on Homely at 48 Melba Drive, East Ryde, NSW.

Learn more about Homely Premier Agent or sign up!

Agent bio:

John Paranchi is a Sales Agent with McGrath Hunters Hill. Consistently ranked at the top of McGrath’s 650+ agent network, ranked as high as Number 6 in Real Estate Business Magazine’s ‘Top 100 Agents’ and awarded The Number 1 Sales Agent in the Australian Real Estate Awards. A Partner at McGrath Hunters Hill, John has an outstanding track record for exceptional sales results in any market conditions. With 24 years of local sales experience, John has lived in the Ryde/Gladesville area all his life and has an unbeatable knowledge of the local market. He has set suburb records in every one of his specialty areas of Gladesville, Putney, Tennyson Point and Ryde – a feat none of his competitors can match.

 

About Homely:

Homely is a new way to search for real estate for sale and properties to rent in Sydney and right across Australia. Homely incorporates beautiful design and community engagement, to create an enjoyable and simple experience that helps you find a new home quickly.

Check out our suburb reviews and Q&A pages to see what everyone is talking about.

 

We'd like to hear from you!

If you enjoyed this blog please leave a comment below and share it with your friends. We're always on the look out for guest bloggers and would like to receive your feedback, so feel free to get in touch at marketing@homely.com.au.

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10 Sydney hotspots to recommend to investors in 2016

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10 Sydney hotspots to recommend to investors in 2016

The NSW excerpt from the 2016 January Market Report on Your Investment Property Mag says that ‘there’s no doubt that Sydney has been the capital growth performer over the last two years’ having undergone an 'economic renaissance' of runaway capital growth.

Tim Lawless, director of CoreLogic RP Data, reports that Sydney property prices have increased by 49.6 per cent since 2012, a boom by anyone’s measure.

If your clients are concerned about buying or investing in Sydney fearing this rapid rate of growth may wane in due course, AMP’s Shane Oliver offers some reassurance stating that ‘Sydney is resilient; it’s set to remain as the strongest performing state economically, with strong immigration flows’ and assuming interest rates remain low.

So if you have clients keen to get into the Sydney property market or want to add to their investment portfolio in 2016 here are 10 hot Sydney real estate markets, their key stats and major drawcards to recommend to investors.

Depending on your client's personal investment strategy we’ve divided up our top Sydney suburbs worth watching based on:

  • areas with solid rental yields for clients looking for income producing properties,
  • suburbs with high capital growth rates for investors looking for strong prospects for price growth in the long-term
  • and affordability, for investors looking to snap up a bargain in up and coming neighbourhoods.

The statistics presented, including median house price (MHP), average annual capital growth rate (CGR) and rental yield (RY), are from CoreLogic RP data accessible via Your Investment Property's Suburb Profile Reports.

10 hot Sydney real estate markets for investment in 2016:

Solid rental yield

Forestville

Stats: $1.34 million MHP, 7.23% CGR and 3.29% RY.

Drawcards: Family-friendly, great schools, public transport (buses), close to the beach, parks and rec, a safe and peaceful area.

Tempe

Stats: $971,000 MHP, 7.29% CGR and 3.37% RY.

Drawcards: Close to Newtown and Sydney University, 10km from the CBD and high rental demand, great for couples, singles and families. 

High capital growth

Thornleigh

Stats: $1.152 million MHP, 8.24% CGR and 2.71% RY.

Drawcards: 26km from the CBD, good proximity to schools, public transport, family-friendly, also good for professionals, singles and retirees. 

Parramatta

Stats: $1.09 million MHP, 10.72% CGR and 2.34% RY.

Drawcards: high rental demand, 24km from the CBD, young up and coming area, residents have an average age of 30, great for sport fans, shopping, cinemas, farmers' market, cafes, restaurants and public transport. 

Kingsford

Stats: $1.8 million MHP, 9.71% CGR and 2.31% RY.

Drawcards: Soon to have light rail services, close to UNSW and the beach, good medical facilities, suited to young professionals and families.

Asquith

Stats: $1.129 million MHP, 9.41% CGR and 2.76% RY.

Drawcards: Approx 30km from CBD, good for parks and rec, peaceful and safe, good area for retirees, professionals, singles, families and students.

Dulwich Hill

Stats: $1.3 million MHP, 8.85% CGR and 2.88% RY.

Drawcards: 10km from the CBD, great public transport (light rail, train and buses), close to Merrickville and Cooks River, family-friendly, popular with young singles, good shopping, schools, medical facilities, restaurants and cafe culture. 

Affordability

Kingswood

Stats: $471,000 MHP, 2.57% CGR and NA RY.

Drawcards: Public transport (train station), peaceful and quiet area, close to the UWS campus, Nepean Hospital, good shopping options, schools, suited to students, families and professionals.

Ambarvale

Stats: $484,000 MHP, 5.81% CGR and 4.19% RY.

Drawcards: Gyms, fitness, parks, shopping, childcare, public transport, medical facilities, suited to families, professionals, singles, students and retirees.

Potts Point

Stats: $590,000 median unit price, 5.06% CGR and 4.41% RY.

Drawcards: 3km to CBD, great waterfront views, cafe culture, nightlife, suited to professionals, singles and students, good public transport (train, bus and ferry access).

Do you have any other hot up and coming areas in Sydney to recommend for investment in 2016? Please share them below.

 

Happy selling!

From the Homely Team

 

About Homely:

Homely is a new way to search for real estate for sale and properties to rent in Sydney and across Australia. With over 330K listings and 500K local reviews and insights, Homely is a faster and easier way to search for property to buy and rent in Australia.

Check out our suburb reviews and Q&A pages to see what everyone is talking about!

 

We'd like to hear from you!

If you enjoyed this blog leave a comment below and share it with your friends. Please respect the public forum and refrain from posting any expletives or hateful comments as they will be removed. We're always on the look out for guest bloggers and would like to receive your feedback, so feel free to get in touch at marketing@homely.com.au.

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Feature agent: 5 minutes with Matt Roffe

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Feature agent: 5 minutes with Matt Roffe

Our feature agent this week Matt Roffe, Senior Sales Executive and Auctioneer at Ray White Concord, shares his insights into the property market in Sydney's Inner West and the best technologies he uses to grow his business and manage open for inspections.

What areas do you service and what do you think will happen in the market over the next 12 months?

I work in the Inner West Sydney region of Concord. Our office mainly services Concord, Concord West, Breakfast Point, Mortlake, Cabarita and Rhodes. If I had a crystal ball, not only would I be a very rich man, but I'd probably foresee and I also get the feeling that property prices in the area are starting to stabilise. Both home buyers and agents are pretty secure in the Inner West because we have a great variety of properties and price points available, ranging from $350,000 one bedroom apartments right through to $6,000,000 waterfront mansions.

What technologies do you find most useful in building your business and generating leads?

I write a weekly blog and send out a weekly newsletter to my database. I find this to be one of the most valuable business generating tools I have and we've had a great response so far. It was obviously a careful balancing act to begin with, finding the right day, information and number of releases we should do each week. I now have a strong following and we're always looking for ways to add value to the newsletter. For instance we reward our database by inviting them to the first and private openings and prior to market listings. I also run the database and CRM in a very disciplined way where I try to ensure all active contacts and leads are updated daily.

Do you have any go-to apps you use to manage your follow-ups and open for inspections?

My go-to app would have to be Open Home Pro. At each open home, the app allows people to easily register using my iPad. The sign in process asks prospective buyers a number of useful questions including their name, phone number and email, and perhaps most importantly if they’re looking to sell and if they have finance ready. A great feature of the app is at the end of an open, I get a full report with all the visitors’ details and buying statuses. They then receive an automated thank you for visiting message that also asks if they would like a copy of the contract sent to them. I find this question is a great way to determine who the serious and most interested prospects are.

Open Home Pro  sign in page.

Open Home Pro sign in page.

Why do you list with Homely and what do you like about the site?

I list with Homely because I think it allows for a more personable experience. We as agents are always trying to be approachable and offer as personal a service as possible. I find Homely engages our audiences in a way no other real estate enquiry site can. Homely affords purchasers the opportunity to both research suburbs and ask questions that they feel are necessary before making an informed purchase decision. What is even better than that is, Homely allows agents to answer these questions and become the go-to ‘communicator’ for potential leads and purchasers within their specific area.

As a Concord local what sights, cafes or restaurants would you recommend to someone visiting for a day?

I would be ran out of town if I was to name just one restaurant or café. In the Inner West we are spoilt for choice. There is an abundance of fantastic eateries and delicatessens to suit every taste-bud, need and budget. I will say I am a great fan of the Canada Bay Food Truck program running in the area at the moment. There is always something different to choose from and it’s a great way to get outdoors, soak up the afternoon sun and go for a walk, at the same time as getting a great feed.

Take a look at Matt's current listing on Homely at 6 Gale, Street Concord, NSW.


Agent bio:

For Matt, the key to success in the real estate industry is putting the needs of clients first. Matt ensures that he will be with you every step of the way and believes open communication, honesty, integrity and a passion for real estate is what will set him apart.

Matt has a keen eye for marketing and a fresh approach to real estate which will get you the impact you deserve and will enable him to show you the ‘Ray White Know How’. Matt has local expertise and a deep knowledge of Concord, Concord West, Breakfast Point, North Strathfield, Mortlake and Cabarita & Rhodes. Connect with Matt on LinkedIn.

Matt served in the Royal Australian Navy for 8 years as a Mine Warfare Specialist. He served in Papua New Guinea, The Solomon Islands, Singapore, New Zealand and did many tours of the Pacific Islands and Asia. Matt pursued his career in real estate after finding a passion for property during his years in the armed service.

MattRoffebiopic

About Homely:

Homely is a new way to search for real estate for sale and properties to rent in Sydney. Homely incorporates beautiful design and community engagement, to create an enjoyable and simple experience that helps you find a new home quickly.

Check out our suburb reviews and Q&A pages to see what everyone is talking about.

 

We'd like to hear from you!

If you enjoyed this blog please leave a comment below and share it with your friends. We're always on the look out for guest bloggers and would like to receive your feedback, so feel free to get in touch at marketing@homely.com.au.

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Feature agent: 5 minutes with Ben Munro Smith

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Feature agent: 5 minutes with Ben Munro Smith

This week we had a quick chat with Ben Munro Smith from Belle Property Balmain to get some insights into Sydney's property market, advice on what it takes to be a successful real estate agent and the best spots in Balmain worth stopping for a bite.

What kinds of trends are you seeing in the property market in Sydney’s Inner West at the moment?

People are looking further afield than we have previously seen. More and more people are choosing key lifestyle suburbs and then beginning the search for the perfect house. As an agent, this is fantastic because it means we get to work with people from all over Sydney. The Balmain Peninsula has so much appeal to Sydneysiders, we make most people’s lists!

What do you find most challenging about your job?

One of the biggest challenges about working in real estate and certainly one of the things that makes me love it, is that you always need to be ‘on’. It doesn’t matter how many opens you’ve had that day or how many properties you’ve sold that year – it is absolutely imperative to make sure you are representing yourself and your clients in the best possible way.

I’ll never forget what my grandfather told me when I got my first job, you need to treat each customer as if it was your first for the day. I’ve tried to take that attitude with me to every job I’ve had since.

In what ways do you leverage social media for marketing and lead generation?

Social media is a great opportunity to engage with the local community. For me, this platform isn’t all about selling, it’s about being part of the community, supporting local businesses and connecting with people. 

It has also been great for introducing me to clients which I may not have had the opportunity to meet otherwise. I think where social media helps an agent stand out is that it shows the personality behind the agent. Real estate is a people game. A brand might get you through a door but ultimately a client will decide to go with you (or not!) based on you as a person. Social media helps the community get to know you and in return helps you to understand them.

One of the other great parts of being active on social media is that it gives you real time feedback from your clients. I have asked for feedback on new marketing ideas on social media and had some great responses. I’ve then been able to use this information for client sales campaigns. This year I signed up my first vendor from social media and I’ve had special 'follower' property previews which have helped to provide my client (the vendor) with real market feedback on price and the property itself.  

Do you have any specific strategies or tactics you use to most effectively manage your time and follow ups?

Time management, like in any job, is something you really need to remain in control of. Being organised and having a systemised approach to each day is so important. For me, that means everything goes into my diary and at the end of each day I put together a plan of what I’m going to achieve for the following day. Keeping on top of this means I can see where I have space if something comes up and it also allows me to track my day to ensure I achieve everything I set out to. It might sound a little extreme, but it certainly works. The saying goes, fail to plan and you plan to fail, and there is some real truth in that. 

What do you find most appealing and useful about homely.com.au?

Homely is a great resource for agents, buyers and the community. It gives something back to all these groups which really makes it stand out against the competition. Personally I love reading their blog for tips and industry articles. These are great to share with my clients and database.

One of my favourite features is the Q&A section. It’s great being able to answer questions and share information about my local area as well as having a platform to ask the community for some advice. 

As an agent it is great to have a free platform to showcase my client’s homes for sale, especially one that is easy for buyers to use. For my business, having the ability to display listings on such a beautiful platform really helps me to stand out from other agents.

Do you have a go-to restaurant or café in Balmain?

We really are spoiled for choice in Balmain when it comes to food. All of the local café and restaurant owners are so passionate about their offering, it is tough to choose just one!

I go past Little Ethel’s most mornings on my way to work and Jamie the owner makes a mean cup of coffee, so they see a lot of me. Tom at The Lodge, just opposite my office, hosts a great spot for a drink at the end of the week and Kim from Wilhelmina’s Bar organises an amazing monthly seasonal dinner which I love to attend. I could really go on and on, there are so many great options!

Check out one of Ben's latest listings on Homely here

 

Agent bio:

Ben has extensive experience in sales and real estate having worked in the property industry for 10 years. Specialising in homes on the Balmain peninsula, Ben share’s the same enthusiasm for this part of Sydney as his clients do. He works with Belle Property Balmain, attracted to its powerful brand and broad marketing reach which assists him in attracting as many buyers as possible for his clients’ homes. Connect with Ben on LinkedIn or Twitter

ben_munro_smith

 

About Homely:

Homely is a new way to search for property to buy and rent in Australia. Homely incorporates beautiful design and community engagement, to create an enjoyable and simple experience that helps you find a new home quickly.

Check out our suburb reviews and Q&A pages to see what everyone is talking about.

 

We'd like to hear from you!

If you enjoyed this blog please leave a comment below and share it with your friends. We're always on the look out for guest bloggers and would like to receive your feedback, so feel free to get in touch at marketing@homely.com.au.

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How to sell a converted warehouse home

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How to sell a converted warehouse home

Predominantly located in the old industrial inner city suburbs of Melbourne and Sydney, warehouse conversions are becoming more popular than ever.

On June 18, 2015 Property Observer reported the sale of a Surry Hills, NSW warehouse residence for $7.5 million plus, smashing the suburb's previous warehouse record price of $5.7 million. Evidently, buyers are often prepared to pay a premium for that iconic industrial loft vibe of a good warehouse conversion. 

What are the top features to highlight?

We’ve come up with the top four features you should highlight in your converted warehouse listing to draw in buyers and get the best result for your vendor.

1) The ‘cool’ feature

To entice potential buyers and possibly insight a bidding war, do not under estimate the power of the ‘cool’ and ‘trendy’ factors associated with living in a converted space like an old warehouse. For example, pull buyer's attention to the edgy, raw industrial attributes like the exposed brickwork, soaring vaulted ceilings, exposed iron rafters and rustic concrete floors.

1/25 Cardigal Avenue, Pyrmont, NSW

how-to-sell-a-converted-warehouse-home-pyrmontwarehouse

2) The 'something special' feature

Probably the biggest ticket item when selling any converted residence is that the property is utterly unique and different from your average house or apartment in the Australian real estate market. The type of entrepreneurial buyer these properties often attract absolutely loves the idea that their new home is one of a kind and quirky. You should play this up by showcasing the distinctive elements that make this conversion a special and unique place to live.

252 Rosslyn Street, West Melbourne, VIC

how-to-sell-a-converted-warehouse-home-westmelbwarehouse

3) The 'historical significance' feature

Original brickwork, traditional facades and old rustic characteristics contribute to the warehouse’s nostalgic charm and the feeling of life lived in another time. Potential buyers are interested in the history of the converted building, so be sure to explain the warehouse’s heritage by building a story around its historical significance and the value in its preservation.

8 Lux Way, Brunswick, VIC

how-to-sell-a-converted-warehouse-home-brunswickwarehouse

4) The 'modern luxury' feature

Be sure to call attention to the modern finishes and sleek contemporary fit out of the home. Buyers want to be reassured that the conversion has not only turned the warehouse into a stylish place to live, but also a functional home with the modern creature comforts and essentials they need. To impress buyers further, emphasise the feeling of luxury afforded by the open plan layout, super high ceilings, grand proportions and expansive interiors.

3/50 Ann Street, Surry Hills, NSW

how-to-sell-a-converted-warehouse-home-surryhillswarehouse1
how-to-sell-a-converted-warehouse-home-surryhillswarehouse2
how-to-sell-a-converted-warehouse-home-surryhillswarehouse1

When promoting your converted warehouse listing it is important to cover our top four key features of 'coolness', 'something special', 'historical significance' and 'modern luxury'. Can you think of any others? Please share below in the comments section. 

 

Happy selling!

From the Homely Team

 

We'd like to hear from you!

If you enjoyed this blog please leave a comment below and share it with your friends. We're always on the look out for guest bloggers and would like to receive your feedback, so feel free to get in touch at marketing@homely.com.au.

 

 

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