Thinking of selling? Learn how to spot a dud agent by asking these four questions…

If you answer yes to any of them, it might be worth looking elsewhere!

1. Do they tell you a price that seems too good to be true?

The number one thing to look out for is the agent who tells you what you want to hear, instead of what you need to hear.

And by that I mean, if they tell you a number that’s so sky high compared to other agents you’re talking to – you need to ask them why.

Now, there is a caveat on this…

I’ve sold homes for $100,000 – $300,000 more than what the other agents have said, but I’ve done it with sound sales evidence.

If your agent isn’t turning up with current comparable sales and market information, about your house and your area. Then this is a clue they’re not the right agent.

And not just a generic one that covers everything…

If you’ve got a 4×2 on a half acre block, then that’s the sales evidence you need to be looking at.

NOT a 4×2 on a five acre block that got $300,000 or $400,000 more than the market average.

2. Do they spruik about their “service”?

The next thing a lot of agents will tell you is how great their service is.

Service is a given in any business these days – and if you’re not service orientated you should not be in business.

What you are after, (and what we provide) is an outcome.

I’ve never met a seller yet who didn’t want their house SOLD.

Ask them about their sales strategy instead, and see what they say.

Which brings me to the next red flag…

3. Do their sales statistics and client testimonials tell a different story?

When agents do start telling you how good they are, there are some useful sites you can look at to fact check them.

To view their sales statistics, Agent Finder on REIWA (Real Estate Institute of Western Australia) has all the sales for every agent in the state (plus the suburbs), for the last 12 months.

You can also look on realestate.com.au, but be mindful that it isn’t quite as accurate as REIWA.

There’s also a site called RateMyAgent which is one of the best agent rating sites around. You can view their past clients feedback – good and bad.

A lot of agents are great at the talk in this game, but very few walk the walk.

On average an agent will sell between 5-9 homes per year, which isn’t very many, so it’s always important to check what they say matches up with the facts.

4. Did you find them on an “agent matching” website?

Lastly, also be mindful there are now websites that tell you they will find you the best agent in the area. The thing is, the top 20%-30% of agents (anywhere in Australia) aren’t on any of those sites – because they don’t need to be.

If you go to any of my areas (take Bedfordale for example) on these sites, you won’t see my name come up. Yet, I’m the number #1 agent in that area – I’ve sold the most homes and I have the highest average sales price.

Because I’m not paying the website a 20% referral fee.

So in reality you’re not getting the best agent, you’re getting the agent that spends the most on that website.

Which is not a great indicator of experience, skill, or sales. If you want the best agent in your area, RateMyAgent and REIWA (which is the peak industry body for WA) will provide you with the official information for free.

If you’d like to know how much your home is worth, book in for an obligation-free appraisal with me here. Or get in touch with me on 0439 998 867. I’d love to lend you my 12+ years of experience and knowledge in the real estate industry.

Thinking of upgrading to a bigger home, but can’t decide if you should sell your current property, or rent it out as an investment property?

WA has just recorded the strongest rental expectations in Australia for the next 2 years, according to the 2019 NAB Residential Property Survey, coupled with the lowest vacancy rate in six years. So if you can afford to, now is a great time to upgrade into something bigger, and keep your current home as an investment property.

“Provided you can afford it, you could make yourself an extra $40,000-$60,000 more, if you hang onto your home and sell in the next two to three years, thanks to the state of the WA market and economy.” – Brendan Leahy, CEO of Naked Edge Real Estate

Hear Brendan’s top #3 considerations to help you make the best decision for your situation…

1. Can you afford to keep your home as an investment property?

If you do decide to rent out your home, you will still have your usual rates to pay, plus ongoing maintenance and repairs. With a rental, hot water systems can fail, and air conditioning systems may need work. So provided that these costs won’t stretch you too thin, I would recommend holding onto your home for another two years or so.

This is because the core fundamentals (namely commodity prices) are in place for the WA market here to have some significant gains over the next couple of years. Keep in mind it is a different case over on the east coast. The market over there has slowed down – and I think it still has some slowing down to do.

WA is a mining state, and we’ve recorded strong iron ore price exports of $100 per tonne for the last six months, and based on WA treasury estimates, with every US$1 increase in the iron ore price, WA receives an extra $81 million.

The AUD exchange rate is helping as well, each time the Aussie dollar drops by just one US cent, WA’s royalty income is expected to jump by $101 million.

2. Can you afford to upgrade without selling your current home?

Ideally, the choice to maintain your property and rent it out will still allow you to upgrade and afford the home you want. Sometimes by selling the property you could borrow an extra $100,000-$200,000… so maintaining your home and renting it out may reduce that capacity.

But you might find you can still afford the home of your dreams in that price point. It is a buyer’s market at the moment, which is great for upgraders because house prices have dropped far below home values – and this market will not last long. There are homes in the Perth hills that were previously worth $900,000+ now available for $650,000.

It’s a great time to see what’s around, and speak with your lender to see what you can afford. The cash rate is also at an historic low of 0.25%, so it’s an opportune time to get your finances in a position to upgrade, and secure some long-term capital growth.

3. Is being a landlord for you?

If you find you can afford to keep your home as an investment property, consider whether you have the time, patience, and desire to manage your rental yourself, or if you’d like to hire a property manager to do it for you.

Some of the most important tasks of a landlord (or property manager) are:

• Finding a reliable tenant that pays rent on time and maintains your property.
• Collecting and lodging the correct tenancy bond with WA bond administration.
• Conducting regular routine inspections on the property.
• Organising prompt maintenance and/or repairs on the property.
• Ensuring all legal paperwork and documentation are filled out correctly and signed (e.g. tenancy agreements, property condition reports, inspection reports, repair requests etc).

If you work full-time and have a family, you may find it difficult to give your tenant and rental the time and commitment it needs – it totally depends on your circumstances, and headspace.

If you’d like more information on how a property manager can help you protect your investment, feel free to get in touch with our sister company, We Love Rentals on (08) 6254 6300. They only do property management, and have 10+ years experience in the industry.

And if you’d like a second opinion about whether to sell or rent your property in the current Perth market, feel free to call Brendan on 0439 998 867. He’d be more than happy to answer any questions you may have.

Ready to sell your home, but not sure what to fix or tweak before listing it on the market?

Hear my top #3 recommendations to maximise the selling potential of your home, and help it stand out from the rest.

The great thing is, all of the jobs can be done for around $80 or less (and a quick trip to Bunnings)!

1. Front gardens

 “My no. 1 tip for preparing your home is the garden – especially the front garden. It’s amazing how many buyers decide if they like your property by their first impression as they arrive.” – Wayne Adlem, Real Estate Agent for Southern River

When buyers view the street appeal of your property (whilst doing a drive by, or attending a home open), it subconsciously sets the standard for what to expect when they walk inside. So if they arrive at your home and see unkempt and/or dead lawns, and overgrown gardens, they’re going to assume the interior of the home is in the same condition.

What’s more, they will then actively look for these flaws once they are inside.

All it takes is a Sunday afternoon and a trailer of mulch for about $80. By simply weeding, mowing the lawn, and giving your garden beds some tender loving care, you can ensure buyers view your home in the best light long before they set foot inside. It’s both easy and cheap to do.

2. Maintenance and repairs

“Fixing minor repairs before the first home open gives buyers less bargaining power when they make an offer.” – Wayne Adlem, Real Estate Agent for Southern River

Some common issues are:

• Leaking taps
• Broken exhaust fans
• Door locks not working properly
• Broken sprinkler heads in the garden

In this market, buyers generally want to move in straight away, and not have any minor maintenance to do. Give your home a quick once-over to address any niggling repairs and you’ll give your home the best chance of selling, quickly.

3. De-clutter and de-personalise

At the home open, buyers will always look to see how much storage, linen and living space your home has. They want to be sure your home is the perfect size for their needs. So if you have rooms with boxes and clutter, or cupboards filled to the brim with clothes, toys, books, paperwork etc, it will give buyers the impression there isn’t enough space.

Spend a Saturday tidying your linen, storage cupboards, and kitchen and pantry space (if need be). Pack away excess bed linen, towels, clothes etc in a box and move to the garage or shed. You don’t need to pack up your life – just focus on items you don’t use regularly that take up a lot of room. You’ll be surprised at how much this simple de-cluttering will maximise the space of your home.

The last tip is to de-personalise your home.

Why?

Because buyers want to envision them and their family living in the space – not yours. Sentimental items like lots of family photos or kids names on bedroom doors can make it difficult for them to see themselves living there. It’s an easy thing to change, and it really does make a difference.

By doing these simple, cost-effective modifications to your home, you will make a massive difference to the selling potential of your property, and help your home stand out from the rest.

Thinking of listing your home on the market, but still have a few questions? I’d love to help you, feel free to call me on 0406 583 754 or send me an email at wayne@nakededgerealestate.com.au