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7 Reasons Hiring a Real Estate Agent is Better Than Selling Your Property by Yourself

7 Reason to choose right real estate agent

Once you have decided to sell your home, the next crucial decision you will have to make is whether to sell your property by yourself or to hire a real estate agent to do this for you. For some, it may seem more cost-efficient to sell their own property, as doing so would mean that they would not have to pay for the agent’s commission.

While there is no right or wrong answer when it comes to this, there are a few things you might want to consider. You will also need to factor in questions like “how long will it take you to sell your house” and “how well do you know the current market value of your property”, among other things. Before you make a decision, let’s deliberate.

Dedicated Time for Enquiries

Selling your property is not your full-time job, but it is real estate agents. What does this mean for you? This means that you do not have to rush home from work or postpone a meeting when a potential buyer wants to see your property. Aside from time efficiency, having an agent selling your property means less stress for you, too. Also, it may feel tempting to save money but let’s say if you know little of dentistry or constructing or even any other trade, would you do it all? There are professions out there that need specialisation and so does real estate, even if it may seem an easy job, wearing someone’s shoe will give you a real perspective.

Knowledge and Experience

Entrusting the selling part to a real estate agent makes it possible for you to get your property sold much sooner than if you were the one entertaining potential buyers. Agents have been trained to undergo various courses, passed exams, and gained experience in dealing with buyers through working for themselves or working with other agencies.  All of these play an important role in getting your property sold in the anticipated time off course various other external factor play in, Your real estate agent will be able to answer questions and address buyer concerns much better because of the knowledge and experience that they have gained. Some vendors choose to sell in less time whereas others are more patient and all they want is a good price not saying selling quickly will fetch less, perhaps real estate agents work with you on a one-to-one basis to bring you the results that you after. like every property is different so does every vendor, and their requirements and circumstances.

Effective Marketing

In recent times, rules and regulations have evolved over time and aside from their familiarity with all the regulations involving real estate transactions, agents also know where to look for potential buyers and how to effectively target them using tried and tested marketing strategies. Networking is one of the strengths of real estate agents – one that will benefit you as a seller. Instead of relying solely on your friends and family to help you spread the word about your property, your agent has access to various methods and platforms in place to ensure that potential buyers learn about the house that you’re selling.

Screening and Managing Buyers

A real estate agent can find out whether someone who wants to view your property is indeed a qualified buyer or just a curious neighbour. Agents are trained to ask qualifying questions to determine the seriousness, and motivation to buy, finance readiness and so much more. They are also able to influence a qualified prospect to make an offer to buy your property.

Stress-Free Negotiations

Buyers are likely to make comments about your property that might upset you, and it would also be difficult to take rejections. A real estate agent shields you from having to deal with buyers directly, and they also provide a more objective approach to selling your property because there are no personal emotions involved. This means that they will be able to handle criticisms well, respond to rejections with a sound counteroffer, and follow up with buyers without looking desperate. After all, negotiations are all about win-win, not with the price only, even with settlement conditions, terms involved and so much more.

Market Know-How

Despite the pandemic brought about by the coronavirus in the year 2020, the Sydney property market has continued to defy the worst forecasts and remained remarkably resilient. Year over year, Sydney’s median house price is up 6.6% at $1,154,40. Buyers have been lured back into the real estate market by low interest rates, government tax cuts, and other incentives. A real estate agent is always abreast with information and updates like these to help you sell your property at a great price point, the shortest time and make selling a property an experience than another mundane task.

Correct Pricing

Pricing property correctly is very important, and it can affect days on market and final sales price. When your price too high, fewer people would be interested to see your property, resulting in fewer offers. On the other hand, when you price it too low, you might send the wrong message that something is wrong with your property or that you are desperate to sell. An agent will be able to help you set the right price for your property given the current market conditions.

Real Estate is more like people business than property business as more and more transactions are these days based on how good real estate agent is, how well they present, how well they communicate through various medium and whether your potential buyers are happy dealing with them, their character their presence and overall persona.

so overall, there are fairly good reasons why selling through agents are much more rewarding and your experience will enhance in dealing with properties overall. Even if you have had a bad experience previously selling or leasing a property through some real estate agent, it is always good to try with others, as there are many young, vibrant and technology-friendly agents who are emerging that can provide you better service. Tanisha from Thank You Real Estate is one of those new breeds of real estate agents who put heart and head into ensuring that your property is in good hands.

Do ensure you check google rating of agent, agency and do some research, so you avoid falling for any agent who lures you with false promises.

We at Thank You Real Estate will be more than happy to help you get the most out of selling your property. Call us today on +61 430 607 866 for any enquiries or to schedule a meeting.

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Appreciating the True Value of Good Property Management

At Thank You Real Estate, we educate the landlords to understand the true value of good property manager.

Cameron has lived in Western Sydney his whole life, so when he bought his first investment property, he chose a nearby suburb that he was familiar with. Within a few years, he was able to access the equity in his first investment property and buy a second investment property, also in Western Sydney. Cameron worked really hard to build up his property investment portfolio, so naturally, he wanted to protect it. He knew he didn’t have time to manage the property himself, but he wasn’t sure if paying a property manager was worth the cost. He’d heard that fees can vary greatly between agencies – should he just go with the lowest fee? Would that be the best choice for his investment?

If Cameron’s story sounds familiar, it’s because it’s a common one. Property owners naturally want to see the greatest possible returns on their investment properties. But sadly, many people think that this can be achieved by choosing the cheapest property management option. By focusing solely on price they’re misunderstanding the main crux of what it means to have an investment property managed and, as a result, they’re unable to get an accurate comparison of like for like.

Getting the Right Information

In Cameron’s case, he realised that he needed more information. It wasn’t enough to just compare ‘Price A’ with ‘Price B’. Doing so would be like comparing a second-hand Hyundai with a brand-new Mercedes. So, Cameron started asking questions. In doing so, he was able to determine who was offering transparent, high-value service at a reasonable price…and who was disguising bad property management behind a smokescreen of “discounted” fees.

Property Management Fees 

When comparing property management fees, Cameron looked for prices that were reasonable and market competitive. He asked what services were included and what kind of industry experience the property manager had. He realised that, while there’s nothing wrong with fair negotiations, a property manager that is reasonably compensated would be working harder for his investment than one with little financial incentive. And he started to appreciate that below-average pricing = below-average service.

How to Identify High-Quality Property Management

The more research Cameron did, the more easily he was able to identify high-quality property management. He started to look at:

  • Quality: Does the agent understand what quality service is? Are they dedicated to achieving the best possible result, not just the quickest or easiest result?
  • Skill: Does the agent have both the capacity and the skill necessary to achieve an above-average market rate for your investment property? Do they have a timeline that they work to when finding and evaluating a new tenant?
  • Strategy: Does the agent have a strategy in place to prevent a tenant from going into rent arrears or do they rely on stressful hearings at the NSW Civil & Administrative Tribunal (NCAT)? Do they look for long-term tenants, understanding that a 12-month lease means a 50% reduction in fees for the investor when compared with a 6-month lease?
  • Documentation: Do they pay meticulous attention when completing and filing the necessary paperwork? Do they understand the importance of accurate documentation, realising that incorrect paperwork could seriously jeopardise your valuable asset?

Fortunately, Cameron’s story has a happy ending. By taking the time to compare property management companies he was able to weed out the agencies with hidden fees and poor management strategies. He found a property manager who he felt comfortable with and who agreed to manage his investment property at a fair and reasonable rate. An agent who delivered high-quality service, had exceptional skills, a well-planned strategy and a thorough documentation process. As a result, both of Cameron’s investment properties have had lower vacancy rates, long-term tenants and rent that is always paid on time.

Thank You Real Estate offer boutique property management services to Sydney investors. Our experienced property managers are committed to providing exceptional service at a fair price, always working hard to ensure your investment is delivering the highest possible return.

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Lease Renewal NSW – An Easy Explanation

Lease renewal in Sydney is a hot topic thanks to recent changes to Residential Tenancy Laws in NSW

Lease Renewal NSW – An Easy Explanation

Lease renewal in Sydney is a hot topic thanks to recent changes to Residential Tenancy Laws in NSW. Effective from 23rd March 2020, the NSW Government says these amendments are designed to “improve tenants’ renting experience while ensuring that landlords can effectively manage their properties”. But change always brings a level of uncertainty. Many landlords are now wondering how the new regulations will affect their investment properties and, in particular, what impact this will have on lease renewals. 

Lease Renewal NSW Explained

Lease renewal generally occurs near the end of a fixed-term tenancy agreement. Before the end of the lease, a landlord may decide to:

  • End the lease: The tenant vacates the property.
  • Renew the lease: The tenant signs a new contract agreeing to lease the property for a fixed period of time. 
  • Have a periodic agreement: The tenant continues living at the property and paying rent, but on a month-to-month basis which can be ended by either party providing the necessary amount of notice.

Landlords have typically favoured a lease renewal over a periodic agreement because of the stability that it provides. 

What is Involved in the Lease Renewal Process?

If you want to offer your tenant a renewed lease, then your first step should be to talk to your property manager. They can conduct a rental assessment to see whether the current rent is still in line with the market average or whether a rent increase can reasonably be implemented. Your property manager will then send a Notice for Lease Renewal to the tenant, which will outline the terms of the new agreement (including the length of the new lease and any proposed changes in rent). This lease renewal letter should be sent out prior to the end of the existing lease, as this allows plenty of time for the paperwork to be completed. 

How Do Recent Changes’ Affect Lease Renewals in Sydney?

When a tenant breaks a fixed-term lease, they are required to pay a break lease fee. Under the new regulations, these fees are fixed and dependent on how much of the current lease is remaining:

  • If less than 25% of the lease has elapsed, then the fee is 4 weeks rent
  • If less than 50% of the lease has elapsed (but more than 25%), then the fee is 3 weeks rent
  • If less than 75% of the lease has elapsed (but more than 50%), then the fee is 2 weeks rent
  • If more than 75% of the lease has elapsed, then the fee is 4 weeks rent

This means that there is a strong deterrent to breaking the lease in the initial stages of a tenancy, but that this will diminish with times. 

What Are the Benefits of Lease Renewal? 

You may now be thinking: “What are the benefits of lease renewal since the tenant can break the lease anyway?” In an effort to avoid a lease renewal fee, some investment property owners may think that a periodic agreement is the preferred choice. But renewing a lease comes with a range of benefits that far outweigh the minimal costs associated with a lease renewal. These include: 

  • Keeping a good tenant: If you’ve found a reliable tenant who is caring for your investment property and paying the rent on time, then it’s well worth signing a lease renewal. A tenant left languishing on a periodic tenancy may feel that their situation is unstable and could start looking for a new rental property nearby that offers more stability. 
  • Minimising costs: Every time a tenant moves out of your property you will face costs associated with advertising the property and potential lost rent. Tenants on fixed-term leases are less likely to suddenly move out because of a concern about how this may impact their reputation as a reliable tenant.

Handling a lease renewal is just one of the many ways that a reliable property manager can make life easier for a rental property owner. If you’re looking for a property manager who has industry experience and delivers high-class service, then contact Thank You Real Estate for a free rental property appraisal

 

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Switching property managers is easier than you think

Switching Property Managers is Easier Than You Think

Switching Property Managers is Easier Than You Think!

You’ve realised that your investment property managers just aren’t delivering the service you deserve…now what? How do you find the right property manager? The kind of property manager that will look after your property like it’s their own. An agency where property management fees are offset by exceptional service, ample industry experience and a commitment to practising what they preach. And once you’ve found this agency, just how complicated is it to make the switch?

Fortunately, this process doesn’t need to be hard. It doesn’t need to be complicated and it doesn’t need to involve hours and hours of research. Thank You Real Estate is here to help.

Why Choose Thank You Real Estate?

Thank You Real Estate offer superior property management services in Sydney and were founded on the principle of ‘they do what they say they will do’. With a committed team of knowledgeable property managers, Thank You Real Estate is the right choice, thanks to our:

  • Local Knowledge: Based in the Greater Sydney area, Thank You Real Estate currently operates across 16 suburbs, including Parramatta, Westmead, Castle Hill and Blacktown. Local knowledge is an essential part of good property management, allowing for trusted local contacts and accurate rental assessments. 
  • Customer Reviews: Any property manager can say they’re the right choice – but what do their existing customers think? Thank You Real Estate enjoys a 5-star overall review rating on the independent website Rate My Agent, in addition to client testimonials proudly shared on our own website.  
  • Exceptional Service: At Thank You Real Estate, our property managers have rejected the old school agency mentality of “near enough is good enough”. Instead, we strive to be positive, flexible and committed, utilising the latest technology and fostering a high level of professionalism and excellent time-management.  
  • Value for Money: Property management cost is always an important factor for investment property owners, as you try to balance the right level of service with the right level of cost. To assist with this, we’ve built a business with low overheads and operational costs, allowing us to deliver superior service without the weighty price tag. 
  • Great Communication: To assist with seamless communication we’ve invested in cloud-based software applications that are highly secure and allow for a greater level of automation. You’ll automatically receive notifications regarding payments, inspections and other routine matters, freeing our property managers up to handle more complex tasks in a direct and one-on-one manner.  
  • Innovative Business Structure: Investment property managers often operate within a hierarchical system that can make it difficult for you to know who you should be speaking to. Thank You Real Estate has done away with this old business model, allowing clients to speak directly with the business owner, who is intimately acquainted with all end-to-end aspects of the business. 

Is Switching Property Managers a Complicated Process?

Not at all! At Thank You Real Estate we have made this process as simple and stress-free as possible. Once you’ve decided to make the switch to Thank You Real Estate, you’ll be provided with a simple form that confirms you have authorised us to manage the property on your behalf. After signing this single-page agreement, there’s nothing else for you to do – we literally take care of everything, at no cost to you.

For more information on just how easy it is to switch to a new property manager, give our helpful team a call on Ph: +61 430 607 866 or use our online form to request a call back.

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5 Warning Signs it’s Time to Switch to A New Property Manager

looking to switch property manager who listens to you and work for you.

5 Warning Signs it’s Time to Switch to A New Property Manager

An investment property is a valuable asset – so why entrust it to just anyone? Your investment property managers are responsible for finding reliable and trustworthy tenants, making sure rent is paid on time, keeping maintenance issues in check and minimising vacancy periods. If any of these responsibilities are not being cared for adequately, then you’re probably losing money.

So, how do you know when it’s time to switch property management? And when is the best time to make the change? Start by asking yourself these 5 important questions:

  • Are your property managers delivering high-class service?
    Property management
    in Sydney may vary in terms of what services are provided. A budget property manager may only handle incoming rent or routine inspections, leaving the bulk of the work in the hands of the property owner. Others may say that they’ll take care of everything, yet inspections aren’t regular and rent payment is sporadic at best. If you feel like your property manager could be doing more, then it’s probably because they should be doing more.
  • Is the property management contract being honoured?
    The contract initially provided by your investment property managers will have specified certain terms that you both agreed to comply with. This would have included property management fees, what services they would provide and what your responsibilities are as a landlord. If you’re paying the required property management fees but you’re not receiving the listed services in return, then it may be time to look at switching.
  • Are they keeping up with routine maintenance?
    In New South Wales, landlords or their authorised representatives can legally inspect a rental property up to 4 times per year. Without regular inspections, how will you know if the tenants are taking appropriate care of the property and whether any routine maintenance work is required? If tenants are reporting maintenance problems, are these issues being forwarded to you promptly by your property manager? A minor water leak, if left unchecked, could eventually result in thousands of dollars’ worth of water damage to your asset.
  • Does your property manager have relevant industry experience?
    Industry experience plays a key role in property management in Sydney. With stiff competition in the housing market, property management rentals typically receive a flood of applications. Without industry experience, how will a property manager screen the applicants? Will they be diligent enough to complete reference checks? Do they know what red flags to look out for? When mishandled due to a lack of experience, property management can cost you significantly in terms of unpaid rent, damages and Tribunal fees.

  • Do your investment property managers prioritise ongoing training?
    As of the 23rd of March 2020, changes were made to the Residential Tenancies Act 2010 and the new Residential Tenancies Regulation 2019, the regulations governing tenancy laws in NSW. Failure to keep up with changing regulations and real estate industry best practices can result in, at best, sub-par service and at worst, costly mistakes that land you in front of the Tribunal. Make sure that your Sydney property management firm is investing the necessary time in ongoing staff training.

If your current property managers aren’t delivering the service that they should be, then what is involved in switching to a new property manager? Start by checking the terms of your contract, as this should spell out the minimum notice period that you’ll need to provide. It’s best not to wait until the end of a current tenancy before switching property managers, as this could result in extended periods of vacancy.

If you’re looking for a property manager that ticks all the right boxes, then Thank You Real Estate is here to help. Catering to the suburbs but not limited to Parramatta, Westmead, Blacktown, Pendle Hill, Quakers Hill, Marsden Park, Schofield, Epping, North Epping  and surroundings, our experienced property managers are committed to delivering the service your property deserves. To discuss switching property management to Thank You Real Estate, give us a call on Ph: 0430 607 866, or fill out the online form to request a callback. Once you’ve decided to switch, the rest of the changeover is simple – because we’ll take care of all the paperwork for you. We can even give notice to your (now former) property manager and arrange for a seamless transition. Minimal hassle and the peace of mind that comes with knowing your property is now in safe and reliable hands.