I hate to sound crude and I know saying that I will, but vendors and their real estate agent have a funny relationship. As a real estate agent, I think I have heard every joke in the book and as a buyer agent it seems even more ridiculous – everything ranging from “agents are dishonest” to “buyers are liars”.  The common problems of real estate usually come down to honesty, from both the side of the buyer and seller. It is understandable when the buyer and seller don’t compare notes but when the vendor and their trusted real estate agent are playing against one another – that’s a real worry.

If I were selling a home I would do my research thoroughly before employing an agent. Better yet – I would employ a seller advocate. Why? Firstly, a seller advocate doesn’t charge you any extra, they obtain referral fee from the agent. Also they tell you how much your home is worth. NOW remember – a seller advocate doesn’t sell your home, they advise you and refer you to an appropriate agent and manage the whole process. THEREFORE, they will give you and HONEST VALUE for your property not one that will simply BUY your business and crunch you. KNOWING how much your home is worth is crucial, especially when agents come in with their quotes of how much and how much (the old cliché of real estate referring to how much they charge in commission and advertising).

MANY people choose an agent based on price – how much their home is worth and how much they charge. Remember, an agent doesn’t buy your home – the buyer does. Overpricing won’t get you a great price it will simply defer the sale, which will cost you time and money… An honest appraisal of the value of your home will ensure you can make the right decision on whether to sell or not to sell.

Some agents are in it for the quick sale – simply take the pics and bang it up on the net, or so to real estate speak. A seller advocate will provide you free advice about presentation, price, photography, floorplans, advertising, without any obligation. Remember, you are there to sell your home for the best price, not the quickest.

People interview well. An agent may have a great presentation but you may find they don’t exactly do the job as they said they would… Avoid broken promises, they happen all too often. A seller advocate will keep the agent accountable.

Best of all – it is of no extra charge to you!

Call now on 0433 505 538, for an obligation free consultation about the sale of your property.

Much of this frustration may be attributed to not trusting the agent who they are dealing with and believing that what they are saying is untrue. For example, as the agent cannot disclose other offers, the buyer may feel that there are no offers on the table and give a low offer “just in case”. This is more common in situations where a price is chosen to be not disclosed or in Expressions of Interest.

No doubt it is difficult to decide what offer to make when there is no price on a home but it is important to put your best foot forward and do the appropriate research before you buy. Many people miss out on a home because they play games and believe that the agent is playing games. Sure, there are times when real estate bargains are available but don’t expect this to always be the case.

It is always vital to do your own research about a property. Go to the opens – (is it busy or quiet?), ask yourself who the home appeals to, attend other local opens and attend auctions.  Request sales in the local area or obtain this information via the internet.

Know the rules before you play the game. Does the agent expect your first offer to be your last? How many chances do you get? When is the decision being made?

Know your last offer to the last cent. Ensure your best offer is your best offer. A good mindset to have is “I would not pay $1 more for this home and if someone else does so be it, no regrets.” You have to pay the most to get the home (not many sellers decide to go for the 3rd best offer unless the conditions were better.) BUT don’t overpay. Know your limits.

Last of all, remember there are always more fish in the sea or so they say.

An auction is when prospective buyers come together and bid on a property, with the highest bidder being successful, subject to the bid exceeding the seller’s reserve price. Auctions can be very emotional, and it is important not to get swept away by the exciting atmosphere and offer more than you can afford.

Auction Registration

In some states, to bid at auction you must first register with the agent selling the property and obtain a bidder’s number. You will need to show some form of identification e.g. a driver’s license. When the auction begins, you must display your bidder number each time you make a bid.

How the auction starts

The auction will begin at the allocated time with the auctioneer welcoming people, and announcing that he or she will start the auction. Some details about the property will be read out such as the address and some of the key features of the property. The auctioneer will then ask for an opening bid. The vendor may make a vendor bid to get the ball rolling.

How to bid at Auction

Once the auction is in progress you can make a bid at any time, either verbally or non-verbally, by raising your hand or nodding your head (and displaying your bidder number, if applicable in your state or territory).

The auctioneer normally informs people of the increments that you can bid on. At the beginning it’s not unusual for bidding to be made in $10,000, or sometimes $20,000 increments. When you feel like slowing the increments down, you can offer an increase of $5,000 or less (e.g. $1,000). However, the agent can ask that bids be kept at $5,000 increments, but if bidding stalls, they may accept $1,000 and even $500 increments.

What happens when bidding stalls?

When bidding stalls, the auctioneer consults with the vendor to ask if the reserve price has been reached. The auctioneer will then announce either that “the property is now on the market” or that it has not reached its reserve.

If it is ‘on the market’ bidding continues until it stalls. The auctioneer will then solicit final bids, repeating the highest bid. If there are no further bids he or she will say “Going , going, gone” or “Going once, going twice, going three times, sold!” and bring down his or her hammer (or hand) on the word “gone” or “sold”. The property is then sold to the highest bidder.

When bidding does not reach the owner’s reserve price the property is not sold. The house is then considered to be passed in. If the house is passed in, the highest bidder usually has first opportunity to negotiate with the seller and the agent.

What happens if your bid is successful?

As the successful bidder, you will be required to sign the contract and pay a deposit on the spot, usually 10 percent (however, you can negotiate with the seller to put down a smaller deposit prior to the auction).

So don’t forget to take along a cheque book, deposit bond or some other means of payment. It’s best to check with the real estate agent before you attend an auction as to what form of payment is required on the day.

Auctions automatically waive any cooling-off period. So be aware that once you sign the contract, if you do not continue with the purchase, you will lose your deposit. You may also be liable to the vendor for the deficit realised on the sale of the property within 12 months of the auction and reasonable costs associated with that sale, or you may be sued by the vendor for breach of contract.

http://www.domain.com.au/public/fhbgcontent.aspx?cms=fhbg_buying

12 Rules of the Home Staging Road – Or How To Sell Your Home RIGHT NOW
http://ezinearticles.com/?12-Rules-of-the-Home-Staging-Road—Or-How-To-Sell-Your-Home-RIGHT-NOW&id=247375

So how do you quickly and easily prepare a home to sell without breaking the bank? There are 12 rules to follow……

1. Remember the Masses – Rule # 1 and # 2, I consider the Golden Rules of home staging because this is what separates “home staging” from interior decorating. Interior decorating takes into consideration the personal tastes, personality and preferences of the home owner whereas “home staging” focuses on creating a valuable marketing commodity so that it appeals to the general home buyer who is trying to visualize themselves in the home. Unlike the home seller who is emotionally invested in the home, a Professional Home Stager is trained to see the home is an objective and critical buyer would so that they can position it to the best of it’s ability by focusing on rule #2

2. Keep to the Cosmetic – Only improving those things in the home that will add to the bottom line. Stagers keep to the cosmetic so that it makes financial sense in the sale price of the home. By focusing on the most dramatic transformations on the cheap a professional home stager gets equally dramatic results in the resale of the home. Home Staging in essence is an investment in future home sales earnings by the home seller and sometimes even the Realtor involved.

3. Consider the homes integrity when you prepare it to sell – In other words, it is what it is, what it is. Don’t try and make a Tuscan style home into a craftsman…it just won’t feel right to buyers or anyone else for that matter. A successful home staging works with the personality of the home rather than against it in order to get best results.

4. Create Warm Lived In Spaces..Yet No One Lives There – When you walk into a home, you can usually tell exactly what age, style and personality individual lives there? If there are baby toys in the family room, a dog bed in the corner and a dozen family pictures on the mantle that gives you a clue as to who lives there which is as it should be for a home NOT for sale. In order to create broad appeal to buyers however we need to strip the home of the seller’s specific personality and quirks while still giving it warmth and style. There is a definite “fine line” between “lived in” and sterile looking. Shoot for the model home look and if you don’t know what that looks like visit some in your area.

5. Find the Focal Point and Make It Fabulous! – The basis for any good design lies in finding the focal point of a room and making sure it really shines. The focal point is the first place someone looks when they walk into a room. In the home staging sense we want to make sure the eyes are drawn to the best part of the room while conversely playing down any negative aspects of the room. Walk into a room and take note of what you notice immediately…is it positive or negative? Remember, buyers are looking for reason NOT to buy the house…make sure those focal points don’t give them any.

6. Clean is Critical! – This really goes without saying but unfortunately needs to be said and emphasized because many times home sellers cannot objectively clean their own home. Their noses have adjusted to any strange odors that buyer’s notice and that rusty sink drain goes completely unnoticed by the seller who has lived there for ten years now while the buyers are repulsed. How do you combat this lack of objectivity by the sellers without offending them? Quick tip, cleaning windows, walls and reflective surfaces helps to add light and space to a room. I’m dating myself when I say, “be a Felix not an Oscar”.

7. Create the Illusion of Space – This is a standard maxim of home staging. It states that by removing extraneous furnishings you can create the illusion of space within a room. Everything in a room must earn it’s place so it’s usually safe to say that 50% of what’s in a room can be packed away now in order to stage the room effectively and create space WITHOUT stripping it of it’s personality.

8. “Up Down” to Update – The best thing a home seller can usually do to update their home is to remove those purchases over 10 years old. I call this “updown” to update. Take down the old flowery prints, old pink swag drapes and brass chandeliers. It’s usually cheaper and easier just to remove or camouflage those distracting out dated furnishings rather than buy new ones. Every accessories sole purpose should be to update or modernize the existing space so given today’s trends the accessory left out should be large and less of them.

9. Let There Be Light! – Brainstorm lighting of all types within every room. Whenever you show a home make sure every light is on in the house…no exceptions. Buyers respond to “light and bright” so make sure your rooms have lots of natural light (trim plants and shrubs around windows) as well as artificial in the form of general, task and accent lighting. Kitchens especially need to be sunny and bright so use inexpensive under cabinet light as well as hanging lights over your islands and bars. Make sure every corner of your rooms are well lit by using simple uplights behind trees and tables. Use candles liberally as an emotional connection as well as form of lighting.

Rule 10, 11, and 12 are particularly why using a professional home stager makes such a difference in the end result…successful staging is not easy, natural or automatic.

10. Remember It’s Calling, Balance Like A Rowboat, Scale Like a Dinner Plate and Be a Traffic Cop – Make sure each room has a clear purpose by remembering its original true calling. Most Buyers cannot use their imagination so don’t confuse them by having an office dining area or pool table in the front living room. Balance your rooms by evenly placing each piece on the sides of the room (like a rowboat). If you have a large entertainment center in one corner with nothing in the opposite corner to balance it, your room will feel tipped or off balanced and turn buyers away. Your professional home stager knows how to create equilibrium in a room. Make sure each piece in the room is in scale with one another. Like a properly balanced meal, don’t have a gigantic sofa with a tiny coffee table…it doesn’t work. A home stager borrows from other rooms to scale each one effectively. Finally, organize the traffic and flow in a room by making sure your furniture is not placed like wall flowers. It’s uncomfortable for anyone to have to walk through a conversation area to get to another room so make the traffic go around the conversation by pulling your furniture in. Believe it or not it makes the room appear larger rather than smaller as so many believe.

11. Color is Always King and Beige is Boring – I think we’ve all made some color mistakes in the past but Rule #11 can be a particularly fatal mistake many Realtors will make trying to play it safe with the home sellers by telling them to paint the house a neutral color. What you get is a bunch of black holes (furniture) in a white or vanilla setting…not good for those Internet photos. The reason why a Realtor would do this is very sound…most people cannot pick out color very well and use it to their advantage. If you don’t feel comfortable with this tricky skill then play it safe but remember, paint is the easiest and least expensive way to drastically improve interiors. If nothing else, have an experienced professional home stager give you a simple consultation and suggest colors. Decorators and Stagers will have the tools and rules to know when to play it safe and when to use color to highlight or downplay a particular feature.

12. Create “Emotional Connection Points” – Well you made it, point number 12 is like icing on a cake (and what would a cake be like without icing!?). Like any great marketer, strive for “buyers envy” when they view your home by creating points throughout each room that speak to buyers emotionally about a lifestyle they can aspire to. This subconscious conversation gives buyers fuel for their imagination and multiple reasons to purchase this “emotionally” staged home. You want a buyer to walk into a house and say, “this is it, this is the one, this is where we FEEL HOME”. There are simple ways to do this: set out a tray on your master bed with a newspaper and cup of coffee, drape a throw and soft pillow over your favorite chair, set out plates, napkins, wine goblets and wine on an outside patio set and stack fluffy towels on your bathroom counter as well as several pillars of lit candles.

I hope these 12 rules has helped you in your efforts to prepare you home to sell. It takes a bit of work but is a small investment in a much bigger reward of selling your home fast and for more money. Good luck!

Article Source: http://EzineArticles.com/?expert=Audra_Hagen

Consider auction in a situation where there is divorce, finalization of an estate, deceased estate or other similar situations where there is no time to waste and where the client is in no place to accumulate marketing $$$’s over everal months. An auction contract in most cases has no Cooling Off Period and is not subject to anything like finance, unless organised otherwise. This makes it attractive to many different people in various situations.

Performed correctly an auction can get a premium price for the vendor before or on auction day, depending on the agent’s good judgement. This is because a good agent is able to obtain interested parties, have the home priced correctly and marketed the property effectively through the entire campaign.

Many auction campaigns only last 21 days unless sold prior, if the home is sold on the day. Usually the cost of marketing depends on the expenses accumulated over the time on the market. It is important to ask the agent what their costs are and what the likelihood of selling is before signing anything .

Consider selling at auction if you are willing to be realistic about price, your property is in a high demand area and you have done appropriate research about your property and your agent before commiting to anything.

1. Get an Independent Valuation
This is the step most sellers miss. Remember a Value has no interest in your property, which will make sure you get the right information and an objective value of your home.

2. Do some research about agents in your local area
Search the Internet, paper and keep your ears open about good experiences.

3. Select three agents to visit your home
Ask the agents about price, marketing and presentation.

4. Choose an agent
Choose the person who you trust/feel comfortable with, has the best and most effective marketing for your home. DO NOT choose an agent that quotes the (dream) highest selling price and rock bottom commission price. If you feel it is too good to be true it probably is.

5. Allow the agent to properly market your property
Where are buyers expecting to see you home? The paper? Internet? How big are the ads that your buyer is expecting to see? Your requirements will vary depending on whether you have a unit or a multi-million dollar mansion. Don’t try to save a penny on marketing, an agent can only charge you what they are being charged. Saving a penny could mean that your perfect buyer buys somewhere else because they didn’t notice your home??? Surely, getting them there is worth more than 100 bucks!

6. Keep your home tidy for opens
Have a look at a display home. Notice how there is never too much stuff? Clutter and too much of anything makes a homes unappealing. Remove the things that associate the home to you and allow the buyer to see themselves there. A rule of thumb is to only have what is necessary to define a particular space e.g a dining room will only have a dining table in it.

7. Never rely on luck
Sometimes we get lucky with price and sometimes we don’t. Be ready for the worst case scenario and make sure you take the feedback your agent gives you seriously.

8. Be ready for the CRUNCH
Auctions or signing contracts can be stressful, be ready to cope with the situation to make the right decision.

9. Know what you are signing
Be sure to know what you are signing and always have a conveyancer handy if you need to ask.

10. Don’t be surprised about settlement
Settlement is the period between when contracts are signed and the money and title (rights to use the home) are exchanged. Remove your belongings from the property before settlement, switch off utilities and change addresses.

Is it  time to wipe the dust off that property portfolio? Apply the same principles as you would in the home – keep what you love, throw out what you don’t and fix and sort what you simply can’t part with. The first step is to evaluate what you love – the things that are really working. Are some properties simply a drain? Can you replace them with something a little more useful?

A financial adviser can help you find the right ‘eclectic’ mix of properties that can do more than reduce risk.

Is your property manager doing a good job? It is important to regularly evaluate their performance and ensure that they are doing the best they can for you. Otherwise it may be time to say good bye.

Before you make one of the biggest decisions in your life, the decision to sell your home. DO SOME RESEARCH!

It sounds so simple and I feel mad for writing this, but believe me it is rarely done. This is why vendors miss out on good early offers.

If you are not confident, inexperienced (even if you feel a touch emotional) or simply unsure about the value of your home, some expert independent advice should be considered.

Independent is the key word. Make sure that your adviser does not have vested interest in your property or their advice may be biased – e.g. don’t get three real estate agents to give you three different values – after all they are trying to win your business. An independent valuation can assist, as this will take the guesswork out of setting a price for your home.

Time is money in real estate. This means, the longer a home is on the market, the more it costs to keep, to advertise and the lower the buyer levels become. Less buyers means less competition and therefore equals less money.

Bottom line -  Get the price right and you will never undersell your most valuable asset.

Retro Chic

The austerity style home is so stylish. Imagine white walls throughout, contrasted by black bench tops or appliances and splashes of red. Modern furniture is ideal. If the kitchen is in such a dilapidated state that it is far beyond repair than it may be an idea to replace it with something crisp and white. Adding quirky accessories that are from that time period can give the home a unique edge.

The Raw Red Brick

Stylish isn’t an adjective that is usually used to describe an ex-housing trust property. Most housing trust constructions are double brick (which is also great for insulation) .The look of weathered red brick is highly sought in inner city urban developments. The raw look of weathered red bricks and timber floors can be contrasted by the sleek stainless steel fittings. This style can be replicated in older maisonettes. New windows can give the house a real facelift. Embracing the rough and uneven texture of a brick wall and adding sharp contrast of a white wall can set a really modern tone to the dwelling. A sleek bathroom and kitchen can really give the home that contemporary edge.

Mediterranean Beauty

Homes that are of the Spanish Mission style or any other combination of styles can often be the most difficult to decorate because of their unique exterior style that is often far beyond straight lines and basic shapes. The trick to modernizing these homes is to be respectful to the original style and add colour through accessories and furnishings. When we think of Spain we think of bright colours and bold patterns. White walls will leave a perfect blank canvas for you to add your own touches of beautiful bold prints and accessories.

However, not all property returns are the same and to maximize return it is important to carefully evaluate a property before making a decision.

Overpriced properties have been the topic of conversation lately. Overpriced does not mean that the property is high in price but rather too high in price for the yields that they generate. Most investors want to maximize return, and this means to reduce expenses. If the property is to be bought for rental purposes it is valuable to find the rent that this particular property will attract.

The expected yearly rental yield can be a good indicator of whether a property is overpriced or not. To calculate this – multiply the weekly rent by 52, then divide it by the purchasing price and multiply this amount by 100. This gives the rental yield percentage.

Remember that this is NOT the amount that the investor will receive outright – expenses need to be considered. These included mortgage repayments and other costs associated with owning an investment property.

How do you know that the percentage that you will be receiving yearly is good or bad? Well consider that putting the money in the bank can attract around 6% in interest a year on the amount. It is important to consider how much of the mortgage repayments the rent will cover and how much capital growth is expected. Sales and rental statistics can be provided by your real estate agent or other property professionals. If the return is low and capital growth in the area is low… why not just put your money in the bank?