Ok it’s been a little while since my last update so I will just jump into it...
Well, I had my house on the market and tried very hard to get a sale for it pre Christmas but unfortunately nothing at all. My property is not the norm and where it would sell with no issue in Melbourne or Sydney I’m afraid Brisbane is such a very different market. Which is a good point to remember, know your market really well especially if you are buying out of your area.
My place is a tiny workers style cottage or in my case it was an old corner store from the 1940’s so it is small but only 4km from the CBD and has off street parking etc etc. My area has a lot of townhouses and units and few houses but the houses that are here are a good size and almost all two stories high so mine would be less than half the regular living area of a comparable house here.
I had no luck trying to do this by myself although I did get a massive amount of hits on Real Estate.com (over 2,000). I also had plenty of people look at it but athey all wanted something bigger but bigger would add nearly another $150k on to the price tag (don't they get that!). At Christmas I threw the towel in and gave up and went overseas on a holiday and decided to worry about it when I got back.
On returning I decided to try a Real Estate agent this time as this property is just too unusual for the average buyer. I checked out who sold the most properties in my area via Pricefinder and then rang up the agents and told them I would be interviewing 3 agents for the job to sell my house. Some thought it was a strange way to do it while the others thought it was quite smart.
Finally I picked an agent that seemed to be a real ‘sellers’ agent and seemed to have a number of different strategies to try - including an auction (which in Brissy is not the preferred way to sell).
He has embarked upon a 5 week campaign in which he does a lot of social media, the net, his other franchise offices and the local paper as well as a letter box drop. The letter box drop is to people that live in units close by that may prefer to live in their own comfortable space with a lot more room and privacy but still stay in the area. At the end of this, which is this weekend, it is auction day in which the agent will try and get a seller over the line.
Now in Brisbane you may have heard about the big wet, and wow wet it has been, rain, rain and more rain. This has affected open houses and the nerves of buyers scared of buying in an area that floods. Mine is OK but it still doesn’t help the mood.
I unfortunately will be away at a full day property course on the Saturday (auction day). I can’t believe that I will miss my own auction but the agent tells me that is the best way to go. We will catch up this week to discuss strategies and then I am always available on the phone.
So....fingers crossed for Saturday
I will fill you in and let you know what happens and I will also provide some thoughts on property mentoring groups, buyer’s agents and property groups as well as investment advisors. Why you ask?
Because I have now completed a number of these courses and worked with a large variety of them in both Queensland and Sydney and have some interesting thoughts to share if you are looking at using one of these services or being mentored.
Ok till next time...signing off!
Can you afford to buy in this suburb? Find out how much you can borrow
Recently divorced and just about 15 years from what he had thought would be his retirement age, Kevin is afraid he won’t be ready. But he’s now doing something about it, and aiming to use his passion for property to help him get back on track. He is starting from zero after giving up the two investment properties he had bought with his ex-wife, but he has big plans ahead as he strikes out on his own.
Top Suburbs :
east victoria park
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out