Promoting your property is an essential part of achieving a successful sale. MyRealty are the professionals when it comes to marketing your property to achieve an outstanding sales result. Our secret to success is making BEST use of the multitude of tools we have available to showcase your listing and present it to market.

Methods such as internet, signboard, local marketing and newspaper advertising all play an important role in spreading the word about your property and garnering healthy competition among buyers.

Each of these avenues comes with a cost that must be factored into your overall advertising budget. You will generally be required to pay a commission to your real estate agent on top of advertising fees. This is due to the fact that when a real estate agent undertakes the task of selling your property, it brings expertise, negotiation skills and advice that can significantly contribute to a higher selling price and complement the marketing efforts.

The importance of a marketing plan

Marketing is a considerable expense, therefore it is important to get it right from the start.  MyRealty will prepare a marketing plan in conjunction with the vendor to ensure maximum exposure for the property in the market to ensure it reaches the largest number of buyers.  The best plans combine a mix of different media such as internet sites, signboard, print advertisements, social and search advertising and letter box drops to name a few channels.

It has been proven that Print + Online = More Exposure = More Buyers = More Competition = Higher Prices.

What ways can I market my property to sell?

MyRealty offers our vendors a multitude of ways to promote their property to reach the most amount of people, to generate as many leads as possible and to achieve the highest sales price.

Professional Photography & Copywriting

Great marketing is all about using maximum exposure to capture people’s attention and interest in a property.  In most cases the first thing a buyer will see is an image of the listing, therefore the best way to grab someone’s attention is to use a professional photographer who is focused on capturing the best features of a property.  With 70% of buyers likely to see your property online, making sure you have high quality, accurate images of the property will help your property stand out from the crowd.

Getting the copy right means using a good copywriter who can write engaging and accurate text that focuses on the property's features, along with the potential lifestyle benefits.  Good copy-writing will evoke imagination and aspiration and connect with buyers.  This text along with a floor plan drawn to scale will appear right across your property marketing material so getting it right is important.

On-line advertising

Social media

Facebook and Instagram are an important marketing tools that should not be overlooked. With 99% of millennials using social media and the ability to reach audiences not only in Australia but overseas, this is one of the best returns on investment when it comes to marketing your property..

Real estate portals

86% of potential buyers use online as their main tool to search for properties, therefore it is vital that this channel forms part of your marketing campaign.  Websites such as realestate.com.au, domain.com.au are the first place buyers head to as it is the most efficient way to view all properties for sale in one place.  The added bonus is buyers can sign up for property alerts and be notified when a property is listed meeting their criteria.  Sellers can therefore be assured that the right buyers are being instantly directed to their property matches.

Personalised website

MyRealty offers sellers the option to promote their property on our premium property website "MyRealty.com.au".  This mobile responsive design with a personalised URL, ensures your property stands out from the crowd to help attract the most amount of buyers possible.

Print Media

Whilst social media and the internet have undoubtedly grown as locations for potential buyers, newspapers still remain a key media placement.  Not all buyers are online.  Active buyers will most likely see a property online, however there are a significant number of passive buyers also in the market who didn’t know they were looking until they found the right property, or were adopting a wait and see approach to buying.  This market is often best reached in print where they will take their time browsing a publication at their leisure.

So the ritual of reading the Saturday real estate lift out with the morning coffee is far from over.  Whilst there is movement to online channels, it really pays to use both the internet and print media in your marketing plan, particularly for sellers having an auction who need to attract the greatest amount of buyers in a short amount of time.

Signboards

Street side signboards are the cornerstone of property marketing.  They enable you to showcase the features of the property and are one of the best ways to capture local buyers who may not be actively seeking a new property but are willing to purchase when the right property appears.

Style Your Home to Sell

Styling your home to sell is an important element to a successful sale according.  Home styling can be de-cluttering, cleaning and de-personalizing the home, rearranging the existing furnishings and accessories through to employing a professional home stylist who will remove the majority of the existing belongings and refurnish / decorate the space with hired items.

Property styling your home will boost final sales price from 7.5% to 12.5% according to a survey of the property top agents.  With 87% surveyed agents believing you will earn a higher price by property styling.

When it comes to selling a home, there are a lot of things to think about. For some, the most important component is the real estate agent’s commission. This is understandable, seeing as sellers are trusting agent’s with one of their most valuable possessions - their home.

Sellers want to know what their agent is going to do for them. How sharp they will be when it comes to negotiating. How hard they will work to secure a sale. Commission plays a big role in this. That’s why it’s important to understand the term and what it encompasses.

What is an agent’s commission?

In its simplest form, real estate commission is the percentage of the final sale price that is paid to the real estate agent who helps you sell your property. It is worth noting that this amount may be charged in addition to any fees incurred for managing advertising and marketing.

Before signing a contract of sale, the exact real estate agent commission fee will be discussed and agreed upon. This way, once the property sells, the seller knows exactly how much they will need to pay the real estate agent.

The types of commission

When it comes to determining a real estate agent’s commission, there are a few different types. Namely, a flat fee commission and a tiered commission. Each real estate agency across the country will operate differently.

With this in mind, it is important to have transparent conversations around commission before contracts are signed. This way, sellers can understand the different types of commission and which one will suit the sale of their property.

Tiered commission

A tiered commission escalates according to the price the home sells for. This sliding scale works as an incentive to encourage agents to secure the highest possible sale price. With so many costs associated with selling a home, this is a great option.

When it comes to agent commissions, some individuals may ask if they can be negotiated? In short, yes. That’s why tiered commissions are also referred to as negotiated commissions.

Flat fee commission

A flat fee commission sees the seller pay the agent a specific dollar amount upon the sale of the property, no matter the final price. This particular type of commission gives certainty over the final fee. Flat fee commissions can also be negotiated.

What does an agent’s commission get you?

Real estate agents are experts in their field. This means they possess both the expertise and contacts to help you sell your home. When it comes to selling a home, there are a lot of different components that agents help with, like styling your home.

For example, an agent helps you present your property in the best possible light. They can advise on what needs updating or repairing. Due to their industry contacts, agents will be able to provide recommendations on trades or services that can help with these tasks.

Agents will suggest the removal of family photos and knick-knacks. This will help buyers envision themselves in the home. With this in mind, agents might advise potential sellers to paint their home. For example, they will suggest to remove feature walls or outdated colours to present a modern look.

An agent will also be present at every open house and private buyer appointment. Firstly, this means that someone will always be looking after the security of your home. It also means that there is someone actively selling the home’s attributes to all who inspect it.

One of the most important roles of a real estate agent is negotiating with buyers or conducting an auction. This is where agent’s use their expertise to help secure the highest sale price. With this in mind, the price of an agent's commission includes a lot of services.

Selling your home with MyRealty

Deciding to sell your home, let alone choosing an agent, can seem overwhelming. However, our team at MyRealty is waiting to assist you. We offer industry experience and excellent market knowledge that helps make the buying and selling process as smooth as possible.

Contact us today for a free property appraisal.

When it comes time to sell your home, determining its worth is of utmost importance. This is because the home’s value will help determine the most appropriate listing price for the property in order to appeal to the broadest section of potential buyers.

However, the task of determining a home’s worth is not so straightforward. In fact, much is dependent upon valuations, appraisals, the bones of the property and even fluctuations in the broader real estate market.

Defining a seller’s and a buyer’s market

Market fluctuations will have a significant bearing on real estate property value. This is because the type of market, whether it be a seller’s or buyer’s market, will either increase or decrease the perceived value of your home.

Seller’s market

In real estate, a seller’s market exists when there are fewer homes for sale than there are buyers. This means that sellers have more negotiating powers than prospective buyers. Typically, in a seller’s market, homes do not stay on the market for long periods.

Traditionally, a seller’s market will see homes sell at, or above, the listing price and auction reserve. This is because the low number of houses for sale drives up competition between the potential buyers.

Buyer’s market

A buyer’s market is characterised by a large inventory of properties and few buyers. In this particular market, buyers have all the negotiating powers. With plenty of homes on the market and not enough buyers, homes remain on the market for months.

This means that sellers need to be competitive and settle for lower sale prices if they want to sell in a timely fashion. Sellers may also need to make other concessions such as undergoing repairs or styling their property in order to make the home stand out.

How is property worth calculated?

While the different real estate markets will undoubtedly play a role in dictating the price your property garners come sale or auction time, there are numerous other factors that work together to determine a property’s actual worth.

Local real estate prices

Along with market trends, local real estate prices will, in most cases, also affect property values. This includes past performance and recent sales results. If a comparable property in your area recently sold for a certain price, this statistic will inform your property’s worth.

Location

Location can make or break a home’s sale price. Water views or secluded homes with no visible neighbours will command more money than a home situated on a highway. It’s worth mentioning that properties with great locations are also easier to market.

Condition

When asking the question ‘how much is my property worth?’, condition plays a large role in determining value. A property that is structurally sound and in good condition will command more value. In contrast, a property that is dilapidated will be of decreased value.

Size and layout of the property

Size and layout also play a large role in determining the sale price. A property that has a backyard, front yard, five bedrooms and dual living areas will be worth more than a single storey property with no yard.

It is also worth noting that layouts can influence the value of a home. This is simply because prospective buyers will not pay top dollar for a home where the kitchen is not centralised, and the distance between the bedrooms and bathrooms is considerable.

Understanding the difference between a property valuation and property appraisal

When determining a property’s worth, sellers may want to consult a broad range of opinions. This can be achieved in two ways. Firstly, by what’s known as a property valuation. Secondly, by asking for a property appraisal.

Valuation

Performed by a Certified Practicing Valuer, valuations firstly involve a property inspection. Then, the valuer, who has no association with a real estate agency, will conduct research and analysis into the local market. The findings will be provided in a detailed report.

Appraisal

On the other hand, a property appraisal is conducted by a local real estate agent. The appraisal is an educated judgement on the home’s worth, taking into consideration local market insights and potential buyer interest.

Determining your property’s worth with MyRealty

Selling a home is undoubtedly a huge undertaking. For most people, their home is their biggest asset. With this in mind, they want to get the best possible price in relation to the property’s worth.

However, determining a property’s worth is a complex process. It involves taking into consideration factors such as market trends, property features, layouts and everything in between.

When it comes time to determine your property’s worth, engage MyRealty - The Gold Coast's premier real estate agent. MyRealty offers years of experience and excellent market knowledge. All of which combine to provide sellers with invaluable insight. For the most accurate assessment of your property’s worth, contact MyRealty for a property appraisal.

Here is everything you need to know when it comes to the selling process for Queensland real estate.

From the first twinkle of an idea that you might sell to the settlement date can be a long time when you're selling property in Queensland. There is so much to cover and so many parties that are involved in the process - it's easy to get overwhelmed.

But with these resources and the help of your MyRealty real estate agent, you can cut out a lot of the stress and find yourself working through a very simple sale process.

Choosing an agent to sell Queensland property

Finding the right real estate agent to sell your Queensland property is a crucial first step in the process. They will provide sound advice on pricing and selling, market the home to attract buyers and negotiate on your behalf to get the best price possible for you.

However, there are many questions you should ask an agent before you sign the appointment form, which is the legally binding contract giving the agent authority to sell your Queensland property on your behalf. Here are some queries to consider:

• Are they licensed? Is their agency licensed?
• Do they know the local property market? Can they provide sales data for other homes in the area?
• How will they advertise and sell your home? Do they have a proven track record for this?
• Have they provided an estimate of the sale price? Is this backed up with a comparative market analysis (CMA) of at least three other properties?
• What is their commission and fees? Are there potential extra costs? When will these be paid?
• Exactly what services will you receive for the stated costs?
• Will they be the sole agent working to sell your property?
• Do they have professional indemnity insurance? Do they subscribe to a code of ethics?

MyRealty has professional real estate agents right across Queensland, who can answer your questions and provide you with in-depth market information. Once you have found someone you want to work with, you can sign the contract which details exactly what the real estate agent will do for you and how much it will cost.

Ways to sell Queensland property

There are several different ways to sell your Queensland property and the best way will depend on market conditions, the type of property, market prices, buyer activity and your own priorities. Your local MyRealty real estate agent will be able to provide in-depth analysis of each of these methods and the associated risks or benefits, but here is an overview to get you started.

Private treaty

This is a process wherein you determine the sale price of your Queensland property, and buyers come forward with offers to purchase it as it is advertised publicly. Your real estate agent can then negotiate terms and numbers with the buyers until you are satisfied with an offer.

Auction

Auctions are a specific event rather than an ongoing process, overseen on the day by an auctioneer. You set a reserve price in writing, which is the minimum amount you want the home to sell for. Buyers register for the auction and place bids on your home. If it surpasses the reserve, then the highest bidder must complete the transaction there and then.

Setting the reserve appropriately is very important here. Your MyRealty real estate agent can provide further advice on where to set the reserve and how to manage expectations.

Tender

In this process, you simply advertise a closing date for offers (tenders) on your home. Buyers then submit offers with a deposit (5 or 10 per cent of the home's value) to your agent and you can review these as you wish. If one satisfies your needs, you can approve it and the transaction begins.

Auctions tend to be popular in cities, while private treaty is still over all a dominant force. Speak to your MyRealty agent about which method of sale is best going to suit your home and your goals.

Marketing your property sale in Queensland

How your property is advertised will depend on the market, but there are generally two main channels for this marketing to boost exposure:

Print media

The Courier Mail is the biggest newspaper in Brisbane and Queensland, with a Monday to Friday readership of 609,000 and a Saturday audience of 602,000. Harnessing this readership, including dedicated readers who buy it specifically for the real estate listings, is an excellent way to promote your home. Using newspapers and magazines specific to your suburb will also be useful.

Online media

The total audience for the Courier Mail is 2.8 million, which shows how strong the online presence is for this publication. Using these resources in conjunction with sites like realestate.com.au, domain.com.au can bring your property to the eyes of a huge number of people.

To make your home stand out in the crowd, professional photography and video tours are recommended. Talk to your MyRealty real estate agent to determine the best method of marketing your property.

Contracts of sale in Queensland

Before the marketing of your Queensland property sale can begin, the contract of sale must be drawn up. This is effectively a binding summary of your home and will include the following details:

• The listed price for the property
• Details on the home itself
• Any conditions of the sale (whether buyers must have home loan pre-approval, or if the sale is subject to inspections, for example)
• Details on the cooling-off period (five days in Queensland)

Contracts of sale will also be provided by prospective buyers when they make an offer, including their own conditions. Both parties must agree to the document before the transaction goes ahead. The Queensland Government has more information on contract of sale here.

The costs of selling property in Queensland

Forming a budget for your Queensland property sale is going to be an essential step. There are many costs you might not be aware of that your MyRealty agent can help you with, but this list provides a brief overview of the associated fees you might encounter:

• Agent commission - this will be specified in your agent appointment document
• Legal fees for conveyancers and solicitors, which can be up to $3,000
• Reimbursing your agent for their expenses throughout the sale process - this should be outlined in writing before you sign your agreement
• A building and pest inspection from the Queensland Building and Construction Commission (between $400 and $600)
• Getting a professional valuation (usually between $300 and $500)
• Fees for the auctioneer if you are selling Queensland property at auction (about $1,000)
• Cosmetic repairs to your home ahead of advertising may only be a few hundred dollars, while a full plumbing renovation can cost $15,000
• Moving costs can take home sellers by surprise - anywhere between $500 and $3,500
• Paying off the remainder of your mortgage and fees of up to $1,000 if you are switching to a new home loan when you move elsewhere
• Swimming pool inspections, which are between $170 and $350

To cover all of the details, go over your agreement with the real estate agent and make sure to take their advice on what you need to do.

Settlement of a Queensland property sale

The close of your Queensland property sale will differ based on how your agent is selling it:

Private treaty

Your agent passes on offers from prospective buyers and you both analyse them and any conditions in the contracts of sale. Your agent can negotiate on your behalf for a better price. When an agreement is reached, the contracts of sale are signed and exchanged and a 10 per cent deposit is paid to you.

There is a cooling-off period of five days, in which the buyer can back out of the sale.

Auction

If the bidding reaches reserve, the highest bidder signs and exchanges contracts and provides the deposit to you on the day - there is no cooling-off period. If it does not reach reserve, you may receive offers post-auction, or choose to accept offers made prior to the event. Your LJ Hooker agent can advise you on the best way forward with this and they can negotiate for a better price if reserve was not reached.

You can also make your own bids to boost the sale, but only below the reserve price. These are vendor bids and must be advertised to all prospective bidders.

Once contracts are exchanged and signed, the settlement process takes between 30 and 90 days. On the settlement day, you receive the balance of the property price, transfer the title and hand over the keys and relinquish ownership of the home. You will be responsible for council rates and land tax up until this point.

Congratulations - you've successfully sold Queensland property!

As a legal document make sure you spend time reading and understanding what you are signing

A tenancy agreement (or lease) is a written agreement between a tenant or resident and a property manager / owner.  As it is a legally binding contract spending time reviewing the agreement before you sign it is critical.

While each state and territories regulations vary slightly, all tenancy agreements must include the following:

• The name and address of the tenant, and the property manager/owner or provider
• The dates when the agreement starts and ends (or state that the agreement is periodic)
• Details about how the tenant should pay the rent and how much rent is to be paid
• Details about what the tenant and the property manager/owner or provider can and cannot do, known as 'standard terms'
• Any special terms (these should be agreed in advance, e.g. that dogs are allowed but must be kept outside or carpet cleaning, no smoking etc)
• The period of tenancy agreement
• Fixed term agreement - where a tenant/resident agrees to rent a property for a fixed amount of time (for example, 6, 9 or 12 months)
• Periodic agreement - when a tenant/resident lives there for an indefinite period

Other points to consider

• A written agreement must always be used when renting, even if the person renting is family or a friend.
• The tenant should be given the agreement before paying any money or being committed to the tenancy and should read it and ask questions if they do not understand anything in it.
• If a tenant does not have a written agreement they still have protection under the law.
• After thoroughly inspecting the property if you identify any maintenance issues that need to be rectified, ensure they are added into the tenancy agreement with a time frame to be fixed

Responsibilities of the Landlord / Agent

The landlord /agent is responsible for:

• Meeting all the costs of preparing the tenancy agreement
• Ensuring the correct form is used and completed
• Providing a copy of the proposed agreement along with any relevant body corporate rules or bylaws to the tenant before they sign it. Once the tenant signs the agreement, they must return it to the lessor/agent within five days. The lessor/agent then has 14 days to give a copy of the signed agreement to the tenant
• Ensuring that, when an agreement is signed, there are no legal problems that would prevent the tenant from living in the premises for the length of the tenancy
• Ensuring the premises are in a good state of repair and ready for the tenant to move into on the agreed date

Holding fee and tenancy agreement

A landlord/agent may ask you to pay a holding fee on approval of your application for a tenancy. The most they can ask for is one week’s rent.

The landlord/agent can hold only one holding fee at any one time.  Depending on what state or territory you are in, determines how long the agent is restricted on entering into an agreement with another prospective tenant.  For instance in Queensland the agent can not take another holding deposit from another prospective tenant for 48 hours but in NSW it is 7 days.  Make sure you discuss the time period with the agent as you may be able to negotiate longer.

Upon signing the tenancy agreement, the fee goes toward the rent from the first day of your tenancy.
The landlord/agent must refund the fee if:
•    They decline to enter into the tenancy agreement, or
•    You refuse to enter into the tenancy agreement because the landlord/agent made any false or
misleading statement, or they failed to tell you any ‘material facts’.

If you otherwise decide not to enter into the tenancy agreement, the landlord/agent can keep the fee.

Question: How is this different from a ‘reservation fee’?
Answer: A holding fee can only be requested from a prospective tenant after their tenancy application has been approved.

Question: What does a holding fee do?
Answer: Acceptance of a holding fee means the agent or landlord must keep the premises for the prospective tenant for at least 7 days. The property must not be offered to anyone else during this time.

Question: What happens if the tenant changes their mind after paying a holding fee?
Answer: If the prospective tenant decides not to go ahead with the tenancy they will lose the full amount of the holding fee, not just a portion of it, as was the case under the old ‘reservation fee’ system.

Keep Good Records

A year can be a long time, and it's easy to lose documents or throw out old paperwork. Don't let this happen with your tenancy agreement. It's a vital document that you will need when the lease ends, and is effectively the rules you must live by in the house.

Keep this, any bond lodgement forms and copies of emails in a specific folder for safe keeping. Nine times out of 10 they won't be needed to resolve a dispute, but better safe than sorry! Taking photos of the residency before you move in is also an excellent idea, to prove the condition of the dwelling both before and after your tenancy.

MyRealty are experienced property managers who can help make sure you receive a reliable income stream, excellent capital growth and the best returns possible - as well as a guarantee of exceptional customer service.

Whether you are overseas or based in Australia, you'll want to make the most out of your real estate investment. You may have plans to purchase an investment property, or already own a home or apartment to rent out to tenants. Either way, MyRealty Property Managers can help you maximise your returns - offering a mix of investment and property management to address every possible circumstance on your behalf.

1. Experience on your side - our experienced property managers are knowledgeable when it comes to screening tenants, reference checking and reviewing rental history to ensure you receive high quality tenants.  You of course have the final say as to who rents your property.

2. Avoid unpleasant confrontations - We are a buffer between you and the tenant - our property manager will help deal with problems such as late payments through to damaged property.

3. Tenants have someone to talk to right away - if an issue happens with the property, our property managers are more accessible to address problems at all hours of the day.  Our negotiating power with tradespeople ensure you get the best price on all maintenance jobs.

4. Decrease tenant turn over - We know how to keep tenants happy and happy tenants are more likely to want to stay and renew their lease.

5. On time rent - Our property managers will work to ensure your tenants pay their rent on time.  Consistent rent collection is the key to receiving rent payments on time and they will enforce lease policies if payments aren’t received.

6. Less stress - someone else is managing your property and tenants so you don’t have to worry as they will do most of the work for you.

7. Strict legislative requirements - private owners are bound by the same legislative requirements as property managers in their dealings with tenants. This means that if you are taking the task on yourself, you will need to stay up to date with constantly-changing legal requirements.  So choosing a MyRealty property manager to manage your investment property is a wise decision that may save you time and money over the long term.

8. Reduce your Risk – By engaging a MyRealty property manager you reduce the chance of having a vacant property therefore lowering your risk of lost income.