Thank you all for your comments:
Donna - Subject: To Pay, or Not to Pay...!
phil.khan - Subject: It's all an Illusion!25/10/2011 - Hi Bernie
not to.
Feel very sorry for the person who paid $9,000 upfront for advertising and it still hasn't sold. What price is the property advertised for?
I heard of some cases in the Eastern states where agents were taking out large full page adds for selling property and getting the deal at a cheap rate but billing the clients for the full rate and making money out of the clients this way. Hope this has stopped now!
Dont most people just look on the internet to purchase anyway? Like to know what percentage who only look at the internet to purchase, if it wasn't biased.
Regards,
Donna
phil.khan - Subject: it's all an Illusion!14/10/2011 Hi again Bernie, "price from" or "offers above" will set me looking to a "Firm or Fixed priced" property quicker than the gavel thuds at an auction.
Phil.KHAN
Q.L.D.
Donna Jan - Subject: It's all an Illusion!14/10/2011 Hi Bernie and Team,
Re:- your comments on touch-ups of properties for sale
"buyer beware" comes to mind!Your further comments re:- management of rental properties, My wife and I can not speak highly enough of Victoria and the team, and yes, we tell anyone we know who is or is already letting their property to contact Bernie or Victoria, and the team @ Bernie Kroczek real Estate.
Thank you all for your invaluable advice when needed.
Phil & Naoko KHAN
Mackay Q.L.D.
Gabriel (there is only one) - Subject: I'm interested in your thoughts...13/10/2011
Hi Bernie,
I think it would be annoying to go and see a property that didn't present as per the marketing photos and time wasting, not to mention the extra traffic on the floors for the owners, extra dirtying of carpets etc, tyre kickers and unruly buyers children.Isn't this called false and misleading advertising? A bit like models in magazines having untold touchups and airbrushing.
Having said that it is a good idea for sales agents to be trained or attend a course on how to take the best photos of a property for the owners buck.
The hiring of furniture for selling a property is very expensive and one can buy a whole house full of new furniture for what they charge but this is far less deceiving for a buyer in my book. Interior decorators often get top price for their renovated properties.
Good to see the amount of sales last week compared to previous.
Roger Holland - Subject: Have You Seen This...?05/10/2011
Love your work, Bernie. You are the only honest Real Estate professional I have met.Keep up the good work.
Gina Tobolov - Subject: Have You Seen This...?26/09/2011 Good morning Bernie,
In my experience I have found the older more mature property managers to be the most conscientious and thorough. Over the years I have rented a few properties and have to say more rather than less property managers treat you as a second class citizen and even with disdain at times. I have seen this most at 'open for inspections'. I know that there is 'nothing like the public' but one should treat a potential customer the way you would expect to be treated. Who knows that tenant may want to buy a house one day. I have also noticed that when rental property is in short supply some property managers are even more condescending. Sorry I can't be more positive.
Mehul - Subject: Bernie's Brief24/09/2011 - Perhaps agents should be better trained.
I have seen new agents in sales and property management, being offered a position, given minimum, if no training and then left to 'work it out'. No wonder they are leaving.
Another side to this - many agents have entered the industry in 'good times' not having to do too much to get a listing or sale. Well the not so good times are upon us and all of a sudden, agents have to work for their money and they don't know how.
Andras Szito - Subject: Bernie's BriefHi Bernie,
You are spot on "We are fast becoming a nation of those who currently own property and those who can never affort to."
Young couples like us cannot even think of affording house in a nice suburbs, as it's very hard for us to maintain minimum standard of living and pay for mortgages, insurance, etc at a same time. The thing is no one likes to see their house price go down and no one wants to enter market specially when time is not right such as this one where news of another recession is just around the corner.
The article under title "Housing Price-to-Income Ratio as a Way to Measure Maximum Local Affordability" talks about same affordability criteria you mentioned in your article. (link: http://www.benengebreth.org/2005/06/housing_priceto)
I had been to one real estate agent and asked why government is not increasing grants for first home buyers, and he rudely replied "Well in that case, you wouldn't be better off as we will increase our asking price, so don't wait for them to take any pro-active steps, as at the end we (real estate agents) will always win!!!"
I hope everyone gets what they want.
Glenn Twiddle - Subject: To Open or Not to Open - That is the Question!20/07/2011
Dear Bernie
It is true that Australia is producing only about 1.32% of the World's CO2 emission (2008 data) but we are one of the greatest emitters by 18.9 metric tons per capita (2008). With this per capita production leading in front of US 17.5, Germay 9.6, Japan 9.5, China 4.9 es India, 1.5 metric tons. Out of these countries I believe Australia's economy is in good shape. Per capita GDP is #7 according to the IMF which is not bad. Don't you think it is fair that the one who has the financial strength needs to head the way?Also it is quite interesting that Germany committed to decrease the CO2 emission 40% below 1990 level! The way things stand probably they can decreae it by further 5%! Not miserable 5%-15% of the 2000 level like Australia! At this level you are quite right when you say it is not going to change the emmission noticeably. I think it is a lot more about leadership, and technological advances that challenges always generate.
Where the point is that Australia has a huge resource of solar , wind and geothermic energy. I reckon we need to spend all money generated by the carbon tax on research and tapping into the renewable energies. In a few years we would become one of the world's leader in alternative energy sources. That would result quite a lot of additional income by foreign students,researches, patentsand - if we are smart enough - manufacturing.
To your second point: the sooner is the better. I heard a very good analogue. You have a sick child and you take it to the best specialist doctor he sais there is 95% probability that the child has xyz disease. We can start treating it now. The treatment is unpleasant, but bearable. We could wait to see whether the probability increase to 99% though the more we wait more painful the treatment is to an extent where there is no point of applying any treatment at all. Or we can decide to do nothing and hope that the 5% probability "nothing will happen" will eventuate. I've been in this boat and decided that 95% is more than enough to chose the treatment. When it comes to betting would you bet against 95%?
People (including politicians) tend to forget that we have only one planet and nowhere else to go. If we screw it up this will be it.
Please, excuse my poor English as you can see English is not my first language.
Best regard
Andras
helen - Subject: Bernie's Brief05/07/2011
Yeah I see your point Bernie, and thanks fir the mention of my study.
The unfortunate thing I see, is that yes, the Home Opens are, in my opinion, a good way for agents, in a time effective manner, and a low pressure environment, to meet buyers, sellers and the community they represent.
I guess the frustrating thing that my study, is that thye really shouldn't bother, in about 7 out of 10 cases. Because if 7 out of 10 agents don't do any follow up whatsoever, if 8 out of 10 don't actually try and sell the home at the event, and about 5-10% of agents actually do the job to a high standard, then why bother.
My advice, whether it's working privately, like you so expertly do Bernie, or at Home Opens, the kind that my team and I have studied over the past 18 months, visiting 100+ open houses, then do them as if the person or people you are meeting were 'Secret Shoppers' sent by potential future clients and your performance on behalf of your CURRENT seller, is the criteria you are being judged on for a potential FUTURE seller.
Act in this way, with a healthy paranoia and you'll see an increase in your success for your sellers.
Bernie, keep up the great work for your people mate.
Glenn Twiddle
Free Real Estate Training
Christine Sutherland - Subject: Bankruptcy or Bust?28/06/2011
Bernie,
Just a brief email to let you know I enjoy reading your "brief's". I wholeheartedly agree with your comments in your latest article "Kill The Fatted Calf".
Tenille Penley - Subject: Bernie's BriefJune 2011
It's a massive decision to leave a job you love, but with a trainwreck of a market, and ongoing costs which are not being defrayed by commissions, staying in the real estate industry could mean bankruptcy.
Most agents realise that things are not going to get better for a long time, and are likely to get worse, with home owners faced with massive negative equity.
Most agents are also entrepreneurial, and recognise that the only way to make real money is to have control over your own business.
However too many rush in without considering vital due diligence issues like product or service differentiations, proof of market, immunity to technological advancement or changing consumer buying patterns.
By choosing with the head instead of the heart, and being fully informed, a decision to do something else is probably the best decision a real estate agent could make right now, in June 2011.
Just don't jump from the frying pan to the fire.
Dale James - Subject: Bernie's Brief14/16/2011
I would just like to say that I find your blogs extremely interesting & keep them coming. I always take the time to read them and pass the topics onto family & friends to discuss. Very much appreciated.
Tenille Penley
Louise Terry - Subject: Bernie's BriefI am with you on this Bernie - it is ridiculous and who makes these rules, it is about time we as seniors did something - if you orgainse a rally I will be there but I want our country back and the lifestyle I had growing up where your parents were gods and respect and disipline were taught in schools... and heaven help us but we were responsible for our own actions19/05/2011
16/05/2011 This tax beneift would need to be brought in for future investors only, or people who have had the investment property for say more than 10 years (these are more likely to have a good loan to property ratio and therefore be less reliable on the tax rebate for affordability).
For an investor who has bought an investment property in the last couple of years and if the property is highly mortgaged, they would be unlikely to afford the repayments if negative gearing is removed. They would also be unlikely to make any profit for many many years as rent is low compared to repayments these days so what would be the point? This would result in a flood of properties on the market and then an overall loss to their balance sheet at sale time. Many of these investors are people with young families hoping to secure a future..hopefully they would not lose their homes to compensate...
New investors would decrease as pointed out in your article. The result of more houses on the market and less people looking would mean alot of houses on the market with not enough buyers ie lower prices for first home buyers yes, but at the expense of others possibly losing their homes.
Maybe it is the stimulus package that caused the upward spiral ie the lower interest rates rather than negative gearing as this has been a constant through the ups and downs..and currently there is no growth even though we still have negative gearing in place ie proof it is not the stimulant!
That is my thoughts....
Follow Us!