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