Junk Mail is a load of rubbish!

As the environment continues to be one of the most important topics in the world at the moment I am ever fascinated by the increase of junk mail in both home mail boxes and private post office boxes.

The focus of the world has been on increasing the awareness for the need to conserve our precious resources and yet both individuals and businesses in our local areas continue to proliferate tonnes of unsolicited as their main source of marketing. This is especially true for real estate agents and Marquette Turner Estate Agents has taken a stand against this ever increasing pile of junk by banning "Do you want to sell?" letters and focussing on environmentally friendly communication - namely the internet and email.

Only last Saturday (October 27, 2007) I was in Barry Street, Neutral Bay conducting an auction of a unit for fellow Marquette Turner Director, Christine Watson. I was horrified to see just how many real estate agents had stuffed junk mail in the letterboxes of the apartment block. The free local newspaper is called The Mosman Daily and there was a pile of them scattered near the mail boxes - all of which had been soaked by the rain in Sydney on Thursday and Friday. Most real estate agents in the area feel compelled to waste their vendor's money on advertising in this newspaper even though the latest statistics from the USA have indicated that less than 5% of real estate buyers are finding their properties in the newspaper. The cost of this madness is massive to both vendors and the environment and Marquette Turner has taken the stand that sound, statistically proven sales strategies that actually sell homes rather than promote real estate agents is what we are going to do.

Our 100% sales record for 2007 remains intact even though we have not advertised in papers like the Mosman Daily or Wentworth Courier. I fully support the Lord Mayor of Mosman in her environmental focus and congratulate her on taking a stand to end the endless pile of junk mail in Mosman mail boxes. At Marquette Turner we strongly advise a "No Junk Mail" sticker on your mail box and we hope that other councils take a similar stance on stopping real estate agents and other proliferators of junk mail in their tracks. Michael Marquette

Crunch Time - Will Interest Rates Rise on 7 Nov?

November 7 is the day when the Reserve Bank of Australia [RBA] announces the outcome of its decision as to whether there is a new official cash rate. Most analysts think the RBA will have to raise rates by at least 25 basis points. Marquette Turner Managing Director, Michael Marquette is inclined to agree that a rate rise prior to the 2007 is a high possibility but also points out that the sheer size of the debt burden of Australians should be a bigger cause of concern than by any single headline interest rate number.

Steve Keen, Associate Professor of Economics at the University of Western Sydney recently stated:

''At 160 per cent of GDP we are now faced with the highest level of private debt in the nation's history - twice what applied during the Great Depression, and one and a half times the previous record, which was set during the Melbourne land boom and bust of the 1880s-90s,'' he says.

''This is the biggest [credit] bubble we have ever had. Interest payments alone are now consuming 15.5 cents in every dollar of household disposable income.''

Michael Marquette

Clients & Customers - What's the Difference?

Clients and Customers – What’s the Difference?

As a buyer of a property, have you ever felt totally ignored by the sales agent? Have you put in an offer for a property, been advised by the agent that it would be accepted and then told you have missed out because someone else has offered more than you? Does this sound familiar? There is one explanation for this. Real estate agents work with clients and customers, but fail to recognise that in this industry there can often appear a distinct difference.

The legal definition of a “client” in the world of property is the person who has signed a written contract with the estate agent and who will be paying the fee for service once the property has sold. In other words, the vendor or seller of the property is the person with whom the estate agent has a written contract or Agency Agreement with and therefore is the person the agent will receive their commission from.

Customers or buyers do not have a written agreement with the estate agent, (unless it is with a Buyers Agent – which is a totally separate agreement) and therefore do not pay any fees to the agent when the sale is transacted. To some agents, this means the vendor is treated with the utmost respect and courtesy, at the expense of the buyer.

Unfortunately many real estate agents lose sight that buyers of properties may well become vendors of properties. Not to mention the lost opportunity to have business referred because of outstanding service.

Thankfully times have changed. Marquette Turner recognises that true customer service is of the major factors both clients and customers seek. Real estate is a service industry after all, and should be no different to the major airlines, etc, in seeking to provide a service that is second to none.

Christine Watson

Email: christine@marquetteturner.com.au

Telephone: 1300 737 778

Marquette Turner - Changing the Face of Real Estate

It is no secret that Marquette Turner are something different! We are keen to educate the public to ensure that as many people we deal with are "property intellectuals". Whilst such a concept may not seem particular akin to real estate, Marquette Turner's desire to form long-term relationships with vendors, buyers, tenants etc - who ultimately became great and trusted friends - rather than focus on "the quick buck" whereby we can not see past a property transaction ultimately means that by educating those that we come in contact with provides great long-term benefits to all involved.

We have both youth and experience on our side. We have a hunger, boundless enthusiasm and Entrepreneurialism that quite easily makes us stand-out from the local agent that has little desire or interest in looking beyond "getting a listing, getting a buyer, and getting a commission". They have no incentive to do anything more, which ultimately means that the customer's and clients that are unfortunate enough to come in touch with them will rarely receive an experience that is outstanding.

This is one of the significant reasons that makes Marquette Turner so unique. We are in a position to look to the long-term, which means that our immediate actions, as well as those in the near and distant future are always in the best-interests of everyone.

Both Michael Marquette and myself are constantly looking at other industries to see how we can "do things better". You only have to see some of the huge press coverage that our unique Concierge service received in the national and local press to see how we really are trying to raise the bar in a service industry that is renowned for offering, at best, a very average service experience.

The Marquette Turner team is excited at any opportunity to demonstrate what sets us apart from "traditional agents". Thus whether you're a tenant, vendor, buyer, or just someone that is interested in learning more about real estate, please feel free to contact any of us. Call 1300 737 778 or visit www.marquetteturner.com.au

You can even Skype us on Marquette Turner and Marquette Turner1! Simon Turner

Should I Borrow the Entire Purchase Amount PLUS Costs?

If you are considering buying a property and are tempted to borrow the entire purchase price, as well as enough to cover all the other outgoings such as stamp duty and conveyancing, Marquette Turner will always advise you to err on the side of caution, as enticing the opportunity may seem to be.

As is always the case with property, make sure you are looking at your long-term goals, and never be unaware of economic factors, regardless of how “novice” you may rate yourself in such issues.

Think of a worst-case-scenario: don’t try to relate to your comfort zone now, relate to issues that may make your like somewhat more difficult.

Remember, the more equity you have in the property you are buying the more comfortable position you are in. This will allow you to weather booms and busts, and all investment cycles.

Listen to your head and think of the long-term. And of course, never be afraid to ask Marquette Turner for a little bit of guidance. Our team are always available to offer our assistance and thoughts (real estate or not!) but remember that it’s always better to ask the question than regret it down the track.

Simon Turner, Marquette Turner

Are Sydney Housing Prices on the Rise?

The biggest question facing home buyers right now is whether or not home prices have started to rise again and is the rise going to be like that of 2000-2003?


Well, here's my thoughts:


The top end of the market is booming with multi-million dollar sales for Sydney Harbourfront homes continuing to set new records with Point Piper continuing to be the stand out piece of Sydney real estate.


Prices in Sydney's west are continuing to struggle with buyer demand lower than supply. The biggest problem facing vendors in Sydney's west is that many real estate agents are suggesting prices that are way too high in order to "buy a listing".


The term " buy a listing" refers to agents suggesting inflated prices for homes, dishonestly trying to create hope of achieving a higher price to win the listing by convincing the home owner that the impossible is actually achievable. Vendors really need to beware of this practice and should insist on evidence to support any suggestion of a price outcome.


I guess the best way of looking at housing prices at the moment is that suburbs of high demand around the harbour and beaches are pushing forward and looking stable and positive. Suburbs that have been traditionally less popular are proving tough going when it comes to sales, however, a sensible and well thought out sales strategy will result in a successful sale. Huge opportunities exist for cashed up buyers who can buy into suburbs like Lakemba which I believe is a Sydney real estate hot spot.


Be realistic with your pricing and sales strategies and choose the agent that proves his or her ability to attract buyers to your home and negotiate the highest price possible every time. Ask to see their qualifications and do not accept that they have been agents for many years as proof of their ability. The largest sales office, the largest sales team or the closest office all mean very little in the internet age and with around 80% of homes being purchased by buyers searching on the net your agent needs to prove that they will and can maximise your sales price.


Look at companies like Google to see that the oldest isn't necessarily the best. Always choose an agent who shows a real point of difference - at Marquette Turner you can expect a proven strategey every time.


Michael Marquette

How Much Money Should You Spend to Market Your Home?

How much money should you spend on marketing when you choose to sell your home? This question is one of the biggest problems facing vendors when examining marketing proposals from real estate agents in Sydney, Melbourne and throughout Australia. Rarely are the true facts ever offered as most agents have no formal marketing or negotiation qualifications. Even worse for vendors is that the entry requirements into real estate are so low, requiring a Certificate of Registration - taking in some cases just three days or even less if completed by correspondence.

The real issue here is what are the facts when spending money with real estate agents? Are they really looking to sell your home for the highest price possible and will their marketing suggestions make any difference? At Marquette Turner we have examined the issues associated with marketing in enormous detail and the reality is very different to that put to vendors by agents with little knowledge regarding marketing - which is in most cases your biggest asset. The fee you pay to real estate agents in Sydney, Melbourne and throughout Australia is one of the largest professional fees you will ever pay! - usually more than you will pay to your Solicitor or Doctor.

The best research has been done in the United States by the National Association of Realtors who examined how buyers found homes between 2004 and 2006. The internet is becoming more and more important in the lives of all Australians and the results of their research cast enormous doubt over the effectiveness of newspaper real estate advertisements. Most agents would suggest advertising in glossy newspapers like the Wentworth Courier and Mosman Daily in Sydney costing up to $3500 per page each week of any marketing campaign. The research from the USA sugggests that less than 5% of properties are purchased by buyers who found their home in a newspaper. The research indicates that almost 80% of all homes sold are found by buyers searching on the internet.

I guess the most important consideration when looking to find the agent to sell your home is what evidence they can show you to substantiate their suggested marketing campaign. What statistics can they offer from independent sources to support their claims and what formal qualifications do they have in negotiation? These questions if answered well will make the process of choosing an agent an easy process and will ensure that you save thousands of dollars in wasted marketing money. You will also achieve the highest price possible by ensuring your agent has formal qualifications in real estate negotiation - maximising your net result.

Michael Marquette

Should I rent or should I buy?

The Marquette Turner team frequently are asked the question "should I rent or buy?" And this isn't just for first-home buyers, but also investors.

Whilst everyone's personal circumstances obviously vary, and with the price of real estate in capital cities these days, it is certainly an important question.

Whilst there is not a simple answer, here's a useful link that can help you decide whether you would you be better off, financially, if you rented and invested instead.

Try moving the investment return assumption up and down to see what a difference it makes. See www.yourmortgage.com.au/calculators/rent-vs-buy

Simon Turner

The Best House in the Best Street?

The saying goes that you should always buy "the worst house in the best street". But we wonder how much of this is based on old wives tales, and how much on fact?

So, could it be better to buy "the best house in the worst street" or perhaps even "the best house in the best street"?

Whatever your thoughts on this subject, we'd love to hear them.

Smart people use the services of smart professionals

The benefits of education of the property industry to our clients is smart business.

For companies that provide excellent products and services, the most knowledgeable clients are the best clients. The reason is simple. The more our clients know about our industry, the more they appreciate the services provided.

Thus, whether your interest is in buying, renting, strata, investing or just general knowledge, we cannot over-emphasise the importance of being well informed.

Home owner tricks to boost property prices

MOST real estate veterans know the trick of brewing coffee when you're trying to sell your house, but some savvy vendors are taking dressing up the family home to a new level - parking shiny luxury cars in the driveway.

Sydney agents are taking an extra step to boost house prices by as much as 10 per cent by using props, cleaners and expensive cars to make the first impression count.

Real estate firm Marquette Turner now offers a complimentary "CONCIERGE" service to help increase the final sale price with some simple yet effective techniques.

Parking a brand new flash BMW in the driveway is hardly subtle, but it works, Marquette Turner partner Michael Marquette said.

"Impressions count right from the start, first impressions really do matter," he said.
"We have a deal with a BMW outlet and for every home we can choose what sort of product might best suit that home."

"We see prices rise 5 to 10 per cent, and sometimes even more," Mr Marquette said.
Having the front garden and lawns prepared and manicured professionally before the open house is another good tip.

There are also techniques that can improve the interior.

"We make sure people take down photos, otherwise buyers walk around looking at them instead of the house.


"We also give advice on making sure the place has a fresh coat of paint if it needs it - which costs next to nothing.


"And we'll bring flowers to provide the right aromas. It's the things that make people feel comfortable and at home."


The agency will also bring a carer along to take pets for a walk while the doors are open.

From the Daily Telegraph. Written by Rhys Haynes. August 04, 2007

Neutral Bay Apartment For Auction

Enjoy apartment living at its best.

A beautifully renovated 2 bedroom apartment in a quiet, tree lined street, within minutes to transport, plus all the shops, cafes and restaurants that Neutral Bay has to offer.

Situated on the top floor at the rear of a boutique building, the block is only three storey’s high and offers full security, plus a large garage able to house a car with plenty of room for storage.

The perfect place to live in when you want every modern convenience close to you, the property will be auctioned on-site on Saturday 27th October 2007 at 12.15pm. View this property

Improving security during Open for Inspections

Improving security during Open for Inspections

Whether your home is for sale or for lease; whether you are an owner or a tenant, there is always an uncomfortable feeling during open homes that strangers are being allowed into your home and have almost free reign amongst your belongings.

Marquette Turner has introduced a policy that all guests to open homes are required to show some form of photo ID. We believe this provides greater security and peace of mind for all involved. And judging by the response from prospective purchasers that have experienced this policy thus far, they whole-heartedly agree what a sensible idea it is, fully aware how they would feel if it was their home people were viewing.

Know the limits when buying strata-title properties

Shane McNally from Australian Property Investor writes: Around Australia, commonsense plays a major role in defining common and private property but the experts urge investors to take nothing for granted. Understanding your rights and obligations, they say, could prevent a lot of heartache and expense at a later stage.

The states and territories vary in their strata-title laws and what is the rule of thumb in one state may not be the case in another. We’ve asked the various experts to explain.
New South Wales

Wally Patterson from Dynamic Property Services advises buyers to study the registered strata plan. He says common property is any area of land or a building not included in a specific lot and that boundaries are generally formed by the upper surface of the floor, under surface of the ceiling and external boundary walls including doors and windows.

“The owners’ corporation looks after the common property including all repairs, unless agreed by a special resolution,” he adds. “This includes replacing and renewing common property.”
Patterson says floors including ramps and stairways, external walls, wiring and pipes servicing more than one lot, the slab dividing two storeys and even balcony doors could and often do constitute common property.
Victoria

In Victoria, when a plan of subdivision is registered, designated common or shared property is created and a body corporate is deemed to exist. Institute of Body Corporate Managers president Andrew Dawson says the balance of property on the plan of subdivision is generally private property plus easements.

“So as to determine private or common property, an apartment owner makes reference to the relative plan of subdivision which is always in the contract of sale,” he adds. “The plan of subdivision clearly defines private lots and common boundaries.”

New South Wales Investment Property Boost

Investing in the residential property market in NSW could become a more attractive prospect following a review currently being conducted into the state’s Residential Tenancy Act.
A change that would make it easier for landlords to evict tenants who are behind in their rent payments is perhaps the most controversial of more than 100 recommendations contained in a discussion paper on laws governing tenants released by NSW Fair Trading Minister Linda Burney.

A focus of the review into residential tenancy is to reduce the level of red tape faced by landlords and real estate agents, particularly through the consolidation of separate laws dealing with the rights of landlords and tenants and those dealing with rental bonds.

Although the proposal to make it easier to evict tenants who have not paid their rent favours landlords, other proposals favour tenants – particularly one suggestion allowing tenants who face eviction by a mortgagee taking possession of their home to hold back two weeks rent to compensate them for relocation costs. From Smart Company, Monday, 24 September 2007; Mike Preston