VZ REAL ESTATE

Real estate agents across the country are increasingly moving toward off market transactions. An off market transaction is defined as one where the agent only markets the property to their database and known buyers rather than listing on prominent media websites. Given the sophistication of industry Customer Relationship Managers (CRMs), it is plausible that an estate agent can expose a property to the vast majority of active buyers in the market. But these CRMs have existed for quite some time. Whilst they facilitate the effectiveness in off market sales, they are not the cause of the recent spike in transactions. Off market transactions have spiked because agents and consumers are looking to avoid the high cost of real estate websites. Start up companies that were started in a garage less than 20 years ago are now billion dollar companies on the back of real estate advertising. The price that agents and home sellers have been asked to pay for a web listing has increa...

A common mistake that many property investors make is assuming that all property management is the same. This assumption can often lead to landlords choosing the cheapest service on the market, as they feel there is nothing to differentiate agencies from one another. Many landlords don’t realise is that choosing the cheapest property management team can become an expensive mistake in the long term. The team at VZ Real Estate explain why you shouldn’t choose a property management team based on fee in our latest blog post. Budget costs, budget service  When choosing a property management team, you want to make sure you are hiring an agency that will handle all aspects of your property with utmost professionalism and care. Unfortunately, you pay for what you get. If you choose to manage your investment property through a budget agent, chances are the service you receive will be less than satisfactory. Lower fees often mean lower wages and less training for the staff tha...

If you’re looking to sell a property, presentation is paramount. Here are some top tips from the team at VZ Real Estate on how to stand out in the crowd and appeal to potential buyers. First Impressions count When a buyer approach’s your house, the exterior makes the first impression. Overflowing bins, an overgrown yard and piles of shoes near the front door don’t get a good response – your home needs to look loved and cared for from the very beginning. Keep it clean Cleaning your house is a no-brainer. It’s a big mistake to assume buyers can look past a messy kitchen or sticky floor. While you may be accustomed with how your home looks, the first time the buyer sees it – is the memory that sticks. Remove pet hair and pet odours. If you’re unsure if your home has any funny odours, ask a friend to give you an honest opinion. The best smell when selling is fresh, clean air. Cleaning costs nothing – but well worth the effort. De-clutter Stuff seems to accumulate the...

With the New Year well and truly here, many of us start wondering what the property market will look like this year. 2015 provided a roller coaster ride for the property market, with 2016 looking like a promising year. VZ Real Estate’s Managing Director, Michael Verstandig has provided his predictions for the year ahead. Interest Rates “Record low interest rates will be maintained for 2016, there is nothing in the reserve bank outlook suggesting otherwise,” says VZ Real Estate Managing Director Michael Verstandig. “Chinese growth is also slowing, which could leave the Australian economy vulnerable. However, the transition to the non-mining economy looks on track with household spending, retail and construction all holding up and without the risk of high inflation.” “This helps maintain affordability in South East Queensland – people can still borrow without a great fear of being smashed by the banks increasing rates. Low interest rates certainly help make pr...

I  started my career in Real Estate in February 96, In that time I’ve had the pleasure of meeting some very nice and wonderful people, some of these people you just have a connection with, as was the case in July 2000 when a lovely couple walked into my office looking for their first family home. It was a big decision for Kyle and Margit to buy the house I sold them, not from the point of view that it felt like home for them because that was easy, it had the big backyard for a garden, dogs etc and the layout of the house was right, sunny kitchen and high ceilings.  However the décor of the house, its smell, lighting and the possible building defects were all a challenge for this young couple.  Over the next few years our friendship grew and I really enjoyed stoping by for a visit and an update on the progress of the place, especially when I’d get a call to come see something interesting that had been found, like kitchen bench tops used as floor boards or the little trinke...

When it comes to selling we all want the highest price for our property. Finding an agent to sell your home is easy, but the real challenge is finding an agent who knows how to get the highest price. How do you find such an agent? Do you select the agent who promises you a high price and a low fee or do you base your decision on a different set of criteria? Is it possible that the ‘quote a high price and a low fee’ type agent may not have good negotiation skills and is trying to ‘buy’ your listing? Don’t let the price and the fee be the basis and the deciding factor for choosing one agent over another. There are agents who will inflate the price just to secure your listing, leaving you disappointed and thousands of dollars out of pocket in marketing costs when they cannot sell your property for the price they quoted you. Or even worse when they convince you to sell your property for less than what a better agent could have sold it for you. Your home does not have a fixed price tag like...

What evidence did you rely on when valuing our property? We are all susceptible to believing what we want to hear. If an agent quotes a high price for your property, it’s natural to want to believe them. However, if an agent cannot justify their price to you as the owner, they will have an even harder time convincing a buyer! If the property sells below your quoted price, do we still have to pay full commission? When you sign an agency agreement to sell, the agent must provide a written assessment of value. You, as the seller, enter into the agreement, in part, based on the written assessment of the agent. If the agent fails to achieve their promised assessment of value, you should have an ability to penalise the agent for getting it wrong. By being firm on this point when interviewing agents, you will flush out what the agent really thinks your home is worth. How do you have an auction with one buyer? Auctions rely on competition i.e. multiple bidders. Unique homes often require uniqu...