So are you saying that the mass exodus is due to a downturn in the property cycle?
Sheesh of course there was a property downturn since 2007.
The article is clear that it is during this downturn that the agents have been leaving in droves.
I understand that. But I was not talking about the history of the last 4 years or so, I was referring to the current state of the market. ie: an ongoing downturn. Just because there is an assumed shortage of houses for sale now, against speculator demand, and that this has pushed prices up (in nominal terms) a little. Does not in any way imply the worst is over for Perth.
Shadow was hopelessly wrong about the Gold Bull Market. What else is he wrong about?
R/E agents are negotiating morons. The pressure on them is to sell and they play both sides. Any buyer with one ounce of common sense can play this and pressure the agent to "condition" the vendor. This is a buyers market and if your not getting a minimun of 6% discount on the asking price your paying too much move on.
This is no secret.
As an investor I have left more agents in tears than smiling. My money my deal in this market.
The golden rule for purchasers is this..."There is always another property" thousands of them every week just look on the net..."There is always another property" Remember that when you offer...and never ever get emotional about it, it's a property not a member of the family and whilst you can't replace a member of the family...remember "There is always another property".
Very wise words, There is always another deal. Property prices in my experience do go up. But it is due to a few forces. 1) Supply and demand. 2) Inflation or the continuos reduction in the purchasing power of the money we have. ( This is counter intuitive) If our money is worth less then how can we pay more for houses. (Step in the banks) 3) What i would call a "feeder" system. This is the effect of people trading up. (Lets call it the survivorship factor) In other words, some people through luck, good fortune or hard work, or a combination of all three, continue to trade up the property ladder. In summary: I would like to postulate the following. House prices are relative. House prices are neither high nor low. It could be argued either way. For this point i would like you to consider the following. Is a house at say $45m on the Perth water front expensive for a person that just made a billion dollars from a mining deal? Is a house expensive for a person on the basic wage please see link http://www.realestate.com.au/property-unit-wa-margaret+river-109034341 ??? I say not. I think we get caught up in the issue of what i would call the "Rome factor", people say oh it's no good living in a rural town in the Roman empire, i want to live in Rome, right next to the emperor, thats the only place to live, so everyone starts to want to move UP. So to speak. So lets look at the "Rome" factor here in Australia. Where do people want to live?????? 1) Sydney 2) Melbourne 3) On the beach front 4) On the river front, god forbid if we accept one street back. So people are for ever pressing those prices up. Just check out Central park New York. To finish. The key point i make is this. Housing in Australia has never been cheaper. And housing in Australia has never been more expensive. Remember it is relative. Where the issue WILL and ALWAYS does arise is when people over step the mark. They get excited and swept up in the moment. Take on the lion by the tail when they are not ready. Slow and steady is a good way to win a race. Good luck and keep up the fight. Peter from Perth
I understand that. But I was not talking about the history of the last 4 years or so, I was referring to the current state of the market. ie: an ongoing downturn. Just because there is an assumed shortage of houses for sale now, against speculator demand, and that this has pushed prices up (in nominal terms) a little. Does not in any way imply the worst is over for Perth.
Perth has had a great year for real estate, it is not a boom time market but steady growth. In good areas for middle income buying ie $500-700K there is very little stock on the market and anything decent sells quickly. It is not a speculator driven market there are plenty of FTBs in fact they are very active in the market. Do you live in Perth?
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
Perth has had a great year for real estate, it is not a boom time market but steady growth. In good areas for middle income buying ie $500-700K there is very little stock on the market and anything decent sells quickly. It is not a speculator driven market there are plenty of FTBs in fact they are very active in the market. Do you live in Perth?
Very little stock at that level at the moment. Peter
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
So are you saying that the mass exodus is due to a downturn in the property cycle?
I'm just saying I see a lot of young generation Y people coming into our industry deluded, thinking that it is a glamorous way to make money and become successful.
“When agents see some of the top guys, they don’t see the hard work and dedication that they have had to endure for years before they have reached this point,” he said.
“Starting out young, new agents don’t have the benefit of having a strong market presence.
“This is something you have to work on for at least three years, but more realistically, five before you see results. It doesn’t happen overnight and agents need to realise this early."
I'm so going to write an article about this! Watch this space :pop:
Mike
29 Jul 2013, 09:42 PM
From what I have seen, agents are falling over themselves to try and get your house to sell. Barely a few days passes without some flyers in the letter box asking if you want to sell your home from some agency.
The house I listed and that is now under offer. I had 4 agents come through that I picked, all had only limited houses to sell and simply could not get enough stock to meet demand. They all reduced the selling fees to beat the competition.
to many agents chasing to few properties.
I would have to say this is 100%
The agents surviving/thriving are the ones that have always survived!
You have to be a solid agent to last in this industry.
R/E agents are negotiating morons. The pressure on them is to sell and they play both sides. Any buyer with one ounce of common sense can play this and pressure the agent to "condition" the vendor. This is a buyers market and if your not getting a minimun of 6% discount on the asking price your paying too much move on.
This is no secret.
As an investor I have left more agents in tears than smiling. My money my deal in this market.
The golden rule for purchasers is this..."There is always another property" thousands of them every week just look on the net..."There is always another property" Remember that when you offer...and never ever get emotional about it, it's a property not a member of the family and whilst you can't replace a member of the family...remember "There is always another property".
You are one of the rare ones, and we have not come across many negotiators such as ur self.
In saying that I challenge you to a negotiation duel!
I guarantee you will not get a minimun of 6% discount on the asking price. BRING IT ON....!
mel
27 Aug 2013, 04:41 PM
Jhai have you ever known of an agent to accept 1/3 of their selling commission?
Yes but not us!
This is a subject i'm very passionate about.
I'll share a pice of an article I'm writing on it;
1% Commission real estate agents take advantage of this money saving mentality!
We call these agents (commission cutters). What you will start to hear from these agents about advertising is “anyone can sell in this this market! Why pay for more quality online ads and photos”. By this stage after listening to that sales pitch you’re probably thinking why pay for a quality real estate agent? Or “I might as well sell it myself!”.
Well you can but try to save money can cost you a lot of time and more money by the end of it. I’ve looking into it and their is services out their calling themselves “agent assisted sales” where you can list you home on realestate.com.au for $440 to $599 (domain.com.au is extra) does not include getting you on the first page (which is very important) and a real estate agent negotiating up buyers for you.
Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.
Forum Rules:
The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.
Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.
Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.
This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.
Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ
Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy
