67 blog posts Filter

Time For The Kids To Move Out?

July 14, 2018

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When should kids move out from home? Start this up as a conversation at your next get-together and you’ll get wildly different opinions. Some believe parents should always provide a safe refuge, whilst other are strongly of the opinion that kids should be encouraged to move out by a certain age in order to establish […]

The Impact of 400 People Per Day

July 7, 2018

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Whilst there are plenty of opinions on whether immigration to Australia should be cut, maintained or even increased, what is now established is that Melbourne is attracting approximately 400 new residents daily. Every day. And it has now for some time. 143,000 in the year to December. Yes, it may get cut back a bit […]

When Single Developments Change a Suburb

June 30, 2018

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Work commenced this month on what will be a transformative new precinct in the City of Whitehorse. It will even spread its influence to Monash. The new Burwood Brickworks development in Middleborough Rd, Burwood East is finally underway. It will include approximately 700 homes, apartments and townhouse along with a significant retail centre of almost […]

Auctions vs Private Sale – What is the %?

June 16, 2018

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Whilst also a great trivia question, it is actually quite instructive as to what percentage of properties are sold by auction vs private sale in Melbourne, the “auction capital of the world”? Any guesses? Given the constant media exposure and listening to agents generally, we could reasonably expect the number to be around 60% or […]

The Importance of Pricing Property

June 2, 2018

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As is now becoming more obvious, property prices in Melbourne are down. Probably by more than most people realise, as the published figures lag behind the current reality. As an indication of how serious the impact has been, properties are now regularly selling for either within their quoted range (shock, horror), or passing in. Last […]

What Do Lower Auction Clearance Rates Mean?

May 26, 2018

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In December, we noted that 1 in 3 auctions were failing. This has now stretched out to closer to 40% failing. For owners this is getting pretty stressful. 4 in 10 sellers are spending $5,000 – $20,000 for most properties, depending on their value ( ½ to 1% typically) and then losing it all when […]

The Real Danger with Open Inspections

May 19, 2018

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Over time we all become conditioned to how things are done; “but it’s always been done that way”. Acceptance of poor practices can be surprisingly expensive. Take Open Inspections. Typically agents open a property up twice a week for about 30 minutes. Buyers are expected to be there to inspect if they want to view […]

The End of Decency

May 5, 2018

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Whilst no one was paying attention, it seems that the concept of decency has fallen from favour. Remember when the decision on whether to do or say something came down to “is it the right thing to do”? Or what is the decent thing to do? That simple. But now, it’s more about what’s in […]

1st Home Buyers (small) Window of Opportunity

April 28, 2018

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In Victoria, FHB’s are currently able to pay no stamp duty if buying property up to $600k phasing out up to $750k. Recent figures show they are buying a lot more property than before all the additional Government incentives were made available. In Melbourne, there are 37% more over the last 8 months than the […]

Why Everybody Dislikes a Hypochristian

April 21, 2018

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Or any sort of hypocrite for that matter. Not that we necessarily have the same attitude to all of them. If it’s Australian cricketers who cheat whilst criticising other teams for the same thing, it’s a year in the sin bin. Almost nobody sprang to their defence. If it’s an agent caught out lying or […]

A Property Millionaire in ?? Years

April 7, 2018

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As Bill Gates is quoted as saying, “Most people overestimate what can be achieved in one year and underestimate what they can achieve in ten years”. When we relocated our relatively new business to the Melbourne eastern suburb of Burwood in 1999, we carefully looked at property values and potential fees as part of our […]

 

Just 3 Words (and it's not location,location, location)

March 24, 2018

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  Just think of the possibilities. You can identify any place in the world using a combination of just three words. A company has now plotted every square metre of the world into 3×3 metre grids. So, where you live, where your car is parked, or where you work can by identified by these words. […]

Is a Property Crash about to Happen?

March 10, 2018

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You may or may not have heard of Harry Dent. He is a US demographer who has written quite a few books on property, shares and general financial advice. He is currently touring Australia predicting a catastrophic collapse in property prices; in the order of 50%. Oh and also world stock prices will likely crash […]

It's Illegal, It's Unethical & It Works

February 24, 2018

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In an eye-popping defense of Underquoting, the owner of the rating site RateMyAgent, Mr Mark Armstrong, explains why it is quite appropriate to select an agent, a Director of Fletchers Real Estate, as their Agent of the Year. Never mind that he was directly implicated in 15 of the 22 cases that Fletchers were recently […]

Does the Way You Sell Your Home affect the Price?

February 17, 2018

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Consider two buyers: Buyer 1 has decided he is willing to pay $1,140,000 for the property, whilst after checking finances and looking for 5 months, Buyer 2 decides she will pay up to $1,185,000. At a Public Auction, what would it sell for? Depending on the bidding increments, you would expect it to sell for […]

Property, Shares & Bitcoin

February 12, 2018

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About 3 weeks ago, the linked article below was published on the topic of the dramatic decline in the price of Bitcoin. It also noted the expected fall in the price of shares and warned of the possible decline in property prices in Australia. So, two out of three down… What about property? The context […]

Why Do Real Estate Agents Lie?

January 19, 2018

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10 Examples with the Best Response It is not uncommon for a real estate agent to be tempted into bending the truth to make a sale. This tendency toward dishonesty is perhaps the key reason that the real estate industry has had a tough time dealing with a negative reputation. This blog post is designed […]

Property Hotspots - The Bigger Story

January 13, 2018

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The property hotspots set to defy the downturn in 2018    < CLICK HERE Real Estate really is a BBQ topic. Everyone has an opinion. Frequently it is ill informed but that doesn’t stop people having very set opinions (sound a bit like politics?). An article like the one that follows is therefore sure to engage […]

Property Predictions for 2018

January 3, 2018

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Property Predictions for 2018 Firstly, the mainstream press has finally caught up with what has been obvious for a few months in Melbourne; the cycle has turned. Whilst all of the focus to date had been on Sydney, Melbourne peaked in Sept/Oct. Yes, the stats showed modest growth until November but this was more a […]

BIG Fines, Lucky Agents

December 27, 2017

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Court proposes hefty fine for alleged underquoters Barry Plant Mount Waverley With yet another huge $720,000 fine potentially looming for Barry Plant and Fletchers still reeling from their $880,000 penalty for deception of the public, it would be easy to think wow, that’s fairly harsh. Two things to consider; agencies receiving these fines have profited […]