IS YOUR PROPERTY MANAGER WORKING FOR YOU??

Owning an investment property is one of the most important decisions of your life, even more so is who you place in charge to manage it. Norton Realty has a few easy questions to ask yourself whether your current agent is looking after your investment property competently.

 

  1. When was your last routine inspection done on your property?
  2. Are the repairs and maintenances up to date on the property?
  3. When was the last rent increase implemented on the property?
  4. Are your tenants paid up to date?

 

Real Estate agents are allowed to conduct routine inspections a maximum of 4 times per year, at each inspection a written report must be completed and a copy should be forwarded to you for your records with a list of any repairs which may be required to be completed. If the agency performs few or no routine inspections then how are you to know if the tenant is looking after your biggest investment asset.

 

Your Managing Agent should contact you when tenants report repairs to the property and unless urgent seek your instructions on the repairs. Keeping your asset maintained is very important as it keeps the value of your asset true to the market.

 

Property Managers should be reviewing the rent received on all of their properties not just yours at least every 12 months. Rent reviews ensure that it is keeping up with the current rental market, they also maximise the return on your investment.

 

All real estate agencies should have their own thorough rent arrears procedures monitoring and acting on any that may occur.  Tenants can sometimes fall behind but keeping a strict watchful eye on rent arrears is paramount on running a competent agency.

 

At Norton Realty we believe that these points are very important in our management procedures. If you would like to discuss with our dedicated property management team regarding your investment property please do not hesitate to contact our office on 6382 3883

A Property That Shows Well – Sells Well

The team from Norton Realty says that preparing your home for sale is essential in order to obtain the best possible price when selling. Having people walk through your home at open homes or various times of the week may not be the most appealing thought, but when you consider the presentation of your home is the most important element in marketing it, you should try to have it ready for inspections or open homes.

 

Here are a few helpful hints in preparing your home for inspections;

 

  • First impressions are lasting impressions! Stand across the road and take a look at the presentation of your home- this is what the buyer sees first. You may even want to ask a friend to take a critical look for you and consider their suggestions.
  • Internal appearance is important. Make sure that walls and windows are clean, benches are clear and blinds open and lights on if necessary. This will create a more spacious/open effect.
  • Obvious faults such as dripping taps or sticking doors should be fixed.
  • Bedrooms should be left tidy and beds made.
  • Always air the house prior to inspections and make sure that any pets are out of sight.
  • Making your buyer feel welcome is crucial. Soft music and fresh flowers might seem a bit over the top but a heater on in the winter and cooling on in the summer will certainlycontribute to that ‘Homely’ appeal.
  • The kitchen and bathrooms are two of the most important areas for buyers. These should be ‘squeaky’ clean. It is widely recognized that kitchens and bathrooms sell houses, so make sure that all appliances are in working order and that any problems are fixed before inspections begin.
  • Be sure to leave the house during any inspections or open homes. Buyers can then browse through the home slowly without the feeling that they are intruding. They are also much more comfortable asking the real estate agent questions about the property during their inspection.

 

You still may not sell your home to the first buyer to inspect your home, but if your better presented than a similar home at the same price you are a better chance.

 

For more friendly advice or a market appraisal on your home call the friendly team at Norton Realty today

PURCHASERS SAY NO TO HYPE

Many vendors think that successful agents use aggressive or ‘pushy’ selling techniques to get their sales. They believe that an agent who uses such techniques will sell their property faster and for a higher price.

 

But the reality is often far different with purchasers frequently reporting that they dislike real estate hype and hate being pushed with agent tactics. In fact, purchasers are put off by the ‘hype’ most actually make a decision not to carry out any further inspections with that agent because of it.

 

After all, you cannot really bully someone into buying their single greatest asset. Buying a property is quite stressful and purchasers do their homework for weeks, sometimes even months before committing themselves and they usually know down to the last light fitting what their money will buy.

The reality is pushy selling techniques are no substitute for a well thought out marketing program and can even lose potential purchasers. Correct pricing, attention to the presentation of the property combined with professional marketing and consistent exposure so that all prospective purchasers in the price range are introduced to the property along with its best features are just some of the aspects of a good marketing program.

 

A successful sale will occur if an agent’s marketing program is sound, the necessary ground work has been thoroughly covered, and the buyers are properly qualified. A genuine empathy with a purchaser’s ‘real’ needs (as opposed to the ‘make-a-sale-at-all-costs’ mentality) will result in a ‘win-win’ situation for everyone involved.

 

It is a well-known fact in the industry that the best agents do not need to use pushy sale techniques to be great salespeople. Their professionalism, superior marketing programs and local reputation are best assets plus they have the quiet confidence and genuine enthusiasm that goes with success.

Young Market Update – Issue 4

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thumbnail of Young Market Update – Issue 4

 

Young market update

Market update

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Young Market Update 3

Here’s Issue 3 of our Market Update (Feb/Mar/Apr), click on the link below and have a read of the facts from our local team about the property market.

Click on the image to view:

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Young Market Update 2

Here’s Issue 2 of our Market Update (Nov/Dec/Jan), click on the link below and have a read of the facts from our local team about the property market.

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Young Market Update 1

If you are interested in Young’s property market, then check out our first issue of our Young Market Update! Our local team has put together the facts about today’s market. Click the image below to view.

thumbnail of market_update1