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May 1, 2024
Did You Spot the Spelling Mistake?
You may have noticed we use the word Smartre in our agency. You may be one of our clients who alerted us to our ‘spelling mistake’. Don't worry, it hasn't been done accidently. Smartre means Smart Real Estate. At Peter Lees Real Estate, we take a different approach that ensures we have a client-centric focus in all that we do. Our mission is to use ethical and effective strategies in every single interaction we have with our clients and customers. Unethical practices come at the cost of somebody within the transaction, either the seller, buyer, landlord or tenant – often due to manipulation, dishonesty or misrepresentation. At Peter Lees we hold ourselves to the highest ethical standards possible. We refuse to conduct ourselves unethically. Ineffective strategies are quite simply, useless. The strategies employed by our team not only lead to the highest price possible within the required timeframe, but the best possible outcomes for any of our clients. We do this with The Smartre Sale - a methodology now available to all clients of Peter Lees Real Estate. Our articles, opinions, posts and more than anything else, our results, will show you how this style of selling property will work for you. If you see the word Smartre associated with other real estate agencies in Australia and New Zealand, you can be assured that they too are focussed on achieving high ethical standards and are striving to improve the way people work and transact with real estate. We're proud to be associated with The Smartre Group. We'll continue to provide more information on The Smartre Sale with examples of successful results in the Launceston area from our clients who are are reaping its benefits. For more information in the meantime, please reach out to any of our team.
Mar 12, 2024
8 Questions Smart Sellers Ask
This is the must have book if you're considering selling your property in 2024, before you interview agents! For a limited time, receive a FREE copy of our booklet: 8 Questions Smart Home Sellers Ask When interviewing real estate agents, the questions you ask will dictate the quality of the information you receive, which in turn affects your decision on which agent to hire. *Please note, this is not an instant download. The booklet will be sent to you via email (or post if requested) within 24 hours. [form id="71f60de2-d456-11ee-9128-9a6f12b02436" background="true"]
Oct 19, 2023
Buy, Sell or Wait?
If you are like most people you're probably wondering, what is the right thing to do in the current property market! Identifying the best time to buy or sell real estate is difficult because the property market is influenced by numerous factors and can be unpredictable at the best of times. However, here is some general knowledge and information that may help you make an informed decision. Don't fall for media fearmongering. Property investment is a long-term game, focus on the bigger picture. Despite negative media doverage the Australian property market remains one of the best places in the world to invest in. Property markets acrtoss Australia appear to have bottomed out and are now on an upswing.' Learn to differentiate between noise and media reporting, by understanding that they are a business, and for business reasons, they may not always provide the full story. It's natural to fear the unknown and the media knows this. That's why they are always reporting on the latest crisis or the latest disaster, the next big threat or impending doom. There's been countless sensational headlines warning the imminent collapse of the property market for as long as I can remember. This kind of sensationalist reporting is their bread-and-butter way of reaching a wider audience which generates more revenue for their business. Welcome to journalism. Here's the bigger picture. Australia has a housing shortage, and it will get worse as our population is projected to grow substantially over the next few years. The increase in population will create strong demand for property. This is why the property markets are up, driven by the dynamics of supply and demand. Interest rates are near their peak. But high interest rates and growth in property values have historically moved together at the start of the upturn in the property cycle. We are at the cusp of a new upswing. Real estate is one of the best hedges against inflation. Although property prices may go up or down over the short term, the market has always trended upwards over the long term. Finally, your personal circumstances and financial goals should always play a significant role in determining when to buy or sell. ~ by Paul KLounnas, Hudson Bond
Oct 19, 2023
Don't Do It
The real estate industry's greatest fear is that home sellers will work out how easy it is to find a buyer for their property without using a real estate agent. How do you find a buyer without a real estate agent? Just do what the agent does. Put an ad on the internet, an ad in the paper, a signboard on the property and list it with a fair price guide. These marketing strategies will have buyers beating a path to your door. It really is that simple. Real estate agents have two primary roles when employed by a home seller. The first is to find interested buyers. Different agents use different strategies to achiev this objective. They will focus on a combination of newspaper ads, underquoting, internet ads, just listed cards, signboards, databases, brochures etc. The second objective of the agent is to negotiate the highest possible price with the best terms for the home seller. Some agents can achieve this objective, some can't. However, some home sellers could also acheive this outcome and some can't. For the home sellers that could competently negotiate for themselves, the real value a real estate agent can offer is one of saving time and effort. Undersell Properties Most agents spend excessive amounts of money finding buyers and then use selling strategies, such as auction, that undersell properties. The excessive amounts of money being spent by agents looking for buyers is the home seller's money, not the agents. So, if the home seller is paying upfront (or even on a payment plan) for advertising and carrying the risk to find a buyer, what is the home seller really paying for? Answer; the agent's negotiation skills or lack of it in some cases... The excessive amounts of money being spent by agents looking for buyers is the home seller's money, not the agents. Find out the value of your property and see comparable sales, suburb performances and more. It takes seconds. GET A PROPERTY ESTIMATE If you feel comfortable that the agent does not possess a high level of negotiation skill to sell your home, do it yourself. To pay an agent $5,000 non refundable in the hope of finding a buyer in this day and age of the internet is absurd. Furthermore, when the agent does find you a buyer they want to charge a full commission on top. Cut through questions In most cases, there are two magnificent cut through questions that home sellers have not asked themselves before "investing" $5,000 or more toward an advertising campaign. Firstly, who pays for the advertising if the best offer is below the price the agent quoted and/or below the vendor's reserve price. Secondly, can the same outcome be achieved using a cheaper and much more effective marketing medium. Given the auction clearance rate has hovered around 40%, 6/10 homesellers have learned the above through regrettable experience. ~ by Peter O'Malley, author of Inside Real Estate
Jul 19, 2023
If we don't get our price...
Many sales are one seller and one buyer looking to meet on price and terms. Buyers who attempt to unfairly use the current market conditions against vendors are surprised to find the vendors have other options. One of the pockets of joy in the property market for owners is the rental market. Many vendors have elected to lease their property out rather than succumb to market forces in 2023. Buyers may not have buyer competition, but in many instances they are in competition with tenants who are prepared to pay a very good rent to lease the vendor's listing. As sales prices continue to slide and rental prices continue to rise, buyers will increasingly find themselves negotiating against tenants, rather than competing buyers, for the owner's interest. Property owners with no or low debt levels are immune from interest rate movements. Therefore, it is easier for these property owners to take the higher rents on offer than having to reduce their sales price to achieve a sale. This is not to say that leasing as opposed to selling is a better option for vendors in the current market. It is circumstantial and very much a case by case basis. One major consideration when deciding to sell or lease that is often overlooked is 'Land Tax'. Before deciding to lease any property out for the first time, fully understand the Land Tax implications. The only thing worse that knowing about your Land Tax obligations is not knowing!! Vendors who only want to sell if they achieve above the current market price are better off not even listing on the market and potentially wasting $10,000 on advertising and staging costs. When the market is falling, quickly concede to the market price before the market price falls further, or sit the entire cycle out. Buyers should not be surprised if vendors refuse to drop their reserve price below the current market price just to achieve a sale. In such circumstances, the vendor may well be better off leasing their property out for a few years and waiting for the next cycle. Even in a downturn, the best homes are the least negotiable. Every pundit, commentator and analyst will have a different view as to how long the current downward cycle will last. When you see opinion so split on one issue, the reality is obvious - no one really knows what happens next. For some vendors, it will be better to go with the market price now, for others, it's a case of ABS - Anything But Selling. The property market cycle throws up opportunities that reward patient buyers and sellers, albeit at different times. Taking advantage of circumstances is savvy play. Attempting to take advantage of vulnerable people is dirty play. Knowing the difference is wisdom. ~ by Peter O'Malley, author of Inside Real Estate