First National partners with Lee Woodward

February 21, 2012 Leave a Comment

Audio, On-Demand and Live Training are First National's Edge

Media Release: 21 February 2012

First National Real Estate today announced it has launched a new national professional development initiative in partnership with leading industry trainer, Lee Woodward, across its network of 450 plus offices.

First National’s Competitive Edge with Lee Woodward is a professional development initiative designed to connect each office’s entire team to a better way of thinking, making it operate as a closer business unit.

‘Our members are operating in a tough market and we recognize the challenges they face will not be addressed by a traditional approach to professional development in 2012 and the years ahead’ says Chief Executive, Ray Ellis.

The network has worked with Lee Woodward to tailor a multi-media based programme with the aim of driving greater unity between sales, property management and management functions of every First National business.

‘The programme will target each department’s needs specifically, but uniquely it also references the many products and solutions that First National members already have at their fingertips, but perhaps aren’t fully exploiting’ says Mr Ellis.

‘This creates a holistic approach that is a first for any network in Australia. Lee brings cutting edge expertise, practical advice and fresh thinking to real estate practice, but he also understands how to align that to First National’s service strategy’.

First National Real Estate has experienced a renaissance since a complete change of strategy in 2004 says Ellis. The subsequent speed of innovation has increased exponentially each year, necessitating a highly targeted approach to staff education and development.

‘The entire real estate industry is struggling to keep up with the demands of changing consumer trends, technological evolution, and the new Australian property marketplace. First National has introduced a raft of measures to reduce days on market, improve customer service perceptions, lift skills and engage local communities with their First National member.

‘We have invested in an initiative that would typically cost an individual office tens of thousands of dollars a year each, if they didn’t belong to First National,’ says Mr Ellis ‘and that’s in addition to our normal professional development schedule which is delivered comprehensively throughout metro and regional Australia.’

Lee Woodward, started his real estate career in a First National office and is regarded as one of Australia’s most gifted trainers. His unique insight into the real estate business cuts through the gimmicks.

‘My objective, through ‘The Competitive Edge’, is to bring training, with the same strategy and theme across the business. Interviews with great agents, trainers and coaches in their area of expertise will be augmented by multimedia resources that clearly explain the real estate journey, process, systems and strategies that are needed to be effective’ says Lee Woodward.

First National Real Estate has approximately 450 offices throughout Australasia and supports Australian Red Cross through the First National Foundation.

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Issued by: First National Real Estate:

For further information Stewart Bunn, National Communications Manager, First National Real Estate on 1800 032 332

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Men are from the garage; Women the kitchen…

February 17, 2012 Leave a Comment

Women believe they put more importance on the kitchen when hunting for a home compared to men, First National Real Estate’s survey of women and property shows.

As well, women feel the bathroom and the size and number of bedrooms are a higher priority for them than men when buying a home. Women are also more likely to rate proximity to friends and family as extremely or very important. But expect men to be checking whether a home has a garage or a workshop – more men than women say these would be a priority when buying a home:

The survey, of 1,207 Australians (603 male and 604 female), looked at key factors influencing home purchase decisions as well as differences between men and women. Respondents were asked to rate the importance of a range of features that would influence their selection of a home. Overall:

  • 73 per cent said having a garage would be extremely or very important;
  • 71 per cent said the quality of the kitchen; the home having water saving systems or equipment, such as a grey water recycling system or rain water tank, was considered extremely or very important by 67 per cent of respondents;
  • 65 per cent said the quality of the bathroom; and
  • 56 per cent said a low maintenance garden or courtyard.
  • At the bottom of the list were: the home having good potential to improve or renovate (38 per cent), proximity to friends and family (36 per cent) and the home having a security alarm system (31 per cent).

But when couples were asked what things they believe they would prioritise more than their partner, clear gender differences emerged.

  • Far more women (28 per cent) placed a greater emphasis on the kitchen than men (three per cent);
  • Women also said they would place a greater emphasis on the bathroom – 17 per cent compared to two per cent of men);
  • 10 per cent of men said the garage or the size of the garage would be a priority, compared to four per cent of women and the same number nominated a shed or a workshop, compared to only one per cent of women;
  • 43 per cent of women compared to only 28 per cent of men said proximity to friends and family is an extremely or very important factor and 46 per cent said proximity to where people in the household work was extremely or very important, compared to 36 per cent of men;
  • Women seem more environmentally aware than men – 72 per cent said water saving systems would be an important feature, compared to 63 per cent of men.

And despite becoming an important buying power in the property market, some women say they are still discriminated against. Thirty four per cent of female home owners said they had experienced gender discrimination from tradespeople around the home and 25 per cent said they had experienced it from real estate agents. Only 11 per cent said they had been discriminated against by their mortgage lender.

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Should you invest in Australian property?

February 14, 2012 Leave a Comment

Consider these statistics...

The decision to rent or buy is always a big one. The traditional strategy of buying a first house and then moving up to the ideal home as your income and equity grows is fast being replaced by the initial purchase of an investment property. However, the alternative of renting indefinitely while you save to buy is becoming equally difficult because of escalating rents and an historic squeeze on vacancies.

If you’ve wondered whether you’re ahead by renting or better off buying, consider these statistics.

  • The median net wealth of a renting household is $55,265 whereas homeowners have nine times as much – $487,183
  • Renters comprise 28.7 per cent of the nation’s households but have only 6.3 per cent of the nation’s wealth
  • Australians who own their home are worth 13 times more than renters – $734,394

So, despite arguments to the contrary that emerge from time to time, real estate ownership has made the average Australian second only to Swiss residents as the wealthiest in the world.

So how do you take the step from renting to buying your first home?

  1. Approach the market with a sound five-year plan. Get into the market, pay down the mortgage, and establish equity in the home as a basis for long-term financial security and flexibility.
  2. Budget for extras. As well as a solid deposit, have money set aside to cover insurance, routine maintenance costs and to meet mortgage payments for several months if something goes wrong.
  3. Don’t worry about the market. Your focus should be on building a deposit while looking for the property that matches your lifestyle and budget.
  4. Compromise. Your perfect home is likely to be out of reach for now, so focus on hunting down a property that has solid real estate attributes – good location, off-street parking, security, quality finishes and proximity to restaurants and transport. Choose something that will suit your needs for the next five years or so while you build up equity and prepare for the next phase of home ownership.

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’80s Outback’ Home On Selling Houses Australia

February 10, 2012 Leave a Comment

Media Release 10 February 2012

Living room before

In a first for the Northern Territory, a local home with frontage to the Alice Springs Golf Club is soon to be the subject of a forthcoming Selling Houses Australia episode says First National Real Estate Framptons.

The programme, which delves into the real issues faced by homeowners and provides advice aimed at getting challenging properties sold, tackles a large Alice Springs home with multiple additions and a fractured feel.

First National Framptons sales agent, Dominic Miller says the Red Sands Court home was initially listed quietly with Framptons in March last year, after failing to sell through another agent in 2010.

Several extensions and additions from the 1980s, 1990s and 2000s as well as problems with the way the house flowed from one section to another, had proven to be a stumbling block for the vendors.

‘Unfortunately, this wonderfully spacious and well located home just didn’t make the most of its assets’ says Mr Miller.

‘It’s only 200 metres from the Alice Springs Golf Course clubhouse and the position offers great views of the fairway and nearby Mac Donnell Ranges, but the home just didn’t make good use of its location.

‘Some parts of the home were very 1970s and other parts were renovated in the 1980s. Unfortunately, although the kitchen had been modernised, it seemed to be cut off from the rest of the home.’

With a slow response from prospective buyers making it evident that something needed to be done to give the sale a real boost, Selling Houses Australia was called in.

Living room afterwards

Now in its fifth series, Selling Houses Australia was the LifeStyle Channel’s highest rating programme in 2011 and its host, property expert Andrew Winter, helped First National Framptons and the home’s owners give the house a reality-check.

‘The home was taken off the market and, after some serious planning, given a makeover to resolve the issues that were making it difficult for buyers to see its potential, then returned to the market in mid-October’ says Mr Miller.

‘With a different look and feel, buyer’s immediately responded more positively and we were able to draw their attention to more the important attributes of the home and its position.

‘After all, the Alice Springs Golf Course is rated as one of the top 10 desert golf courses in the world and, as many Alice Springs residents well know, being on its doorstep is a very good position indeed.’

Titled ‘80s Outback’, the episode featuring the home at Red Sands Circuit goes to air on the LifeStyle Channel on 15 February at 8.30 pm.

Issued by: First National Real Estate Framptons

For further information:

Sales Agent, Dominic Miller on (08) 8950 8322 or 0418 897 767

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First National Supports Rates Decision

February 9, 2012 Leave a Comment

Media Release – 9 February 2012

First National Real Estate’s CEO, Mr Ray Ellis, supports the RBA’s decision to keep interest rates on hold, saying stability is what is sought during times of ongoing consumer nervousness and tension.

“The market is tightly wound at the moment, and movement of any kind could unsettle confidence, which is why we believe the decision by the RBA was the right one at this time,” Mr Ellis said.

“Our agents have reported drops in listing volumes for the second month in a row, which, in part, reflects home owners waiting for selling conditions to improve before they put their properties on the market but also reflects seasonal factors.

“While the market remains slow in much of Australia, decreases in housing availability will begin to place upward pressure on prices as it increases competition, ultimately reducing the number of days it takes to sell a home.”

Mr Ellis said home buying opportunities, even with the rates remaining steady, were still plentiful as interest rates are still relatively low and home prices are at their most affordable for quite a number of years.

“This all bodes well for a property market looking for signs of stability and recovery” Mr Ellis said.

“Any decreases in rates at this time could have further added to consumer nervousness, which is still suffering from uncertainty around global economies and impacts of rising living costs, especially with the advent of the carbon tax.

“At the same time, an increase now could result in reduced affordability, something first home buyers in particular can ill-afford at a time when some of the government assistance schemes are being cut back or dropped altogether.

Mr Ellis said he encouraged anyone looking to purchase a home at the moment to negotiate.

“All the Big 4 banks and other mortgage lenders are on record as saying they are willing to discuss rates with home buyers in order to retain their share of the market, so buyers are in a real position of power to make them deliver on their statement,” Mr Ellis said.

“A calm approach is exactly what is needed right now to allow the property market to catch its breath and stabilise activity, so it can prepare for the next wave of influencing factors. This falls right into the hands of home buyers who should be able to secure the best deals they have for many years.”

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For further information contact Stewart Bunn, National Communications Manager, First National Real Estate, on 0413 624 317

 

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Renting With Pets, Think Again…

February 3, 2012 Leave a Comment

You own an investment property and you’re wondering whether you should consider applications from tenants with pets.

Conventional wisdom and maybe even your property manager’s advice suggests you might want to think twice about that. Obviously there’s the potential for damaged carpet as a result of small accidents, marked walls or garden damage. But is that really any different from the normal wear and tear of renting to people without pets?

New research suggests perhaps not.

Responsible pet owners typically work hard to ensure their pets don’t annoy neighbours and don’t do damage to their rental property. They know that one black mark against their name means it may be much more difficult to rent in future, or worse, they may have to surrender their pet to be euthanised, if they can’t find a suitable property.

The research also shows that tenants with pets pay and average $25 to $35 dollars more per week for their property.

Naturally, as with all rental applicants, good pet references are essential. Your property manager may also ask that your tenants sign an annexure to their lease, clearly spelling out expectations and requirements such as having carpets steam cleaned when the property is vacated.

As a landlord, the choice remains yours but allowing your property manager to consider applications from prospective tenants with good references expands your pool of potential customers. Anecdotal evidence also suggests tenants with pets rent for longer periods, reducing the wear and tear that occurs when people move in and out, and, lifting your annual net return.

First National Real Estate offers a ‘Pet Friendly Rental Search’ on its national and member websites. Prospective tenants simply tick the ‘Pet Friendly’ box when searching for property to instantly separate properties that are an option for them.

Even though vacancy rates are at very low levels and many landlords experience no difficulty finding good tenants for their properties, renting to a responsible tenant with a pet may see your investment leased for a longer period, at a higher rate, and that’s well worth thinking twice about!

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Australian Property Alerts Surge

February 2, 2012 1 Comment

Example buyer registration eCard

Technology has been firmly embedded in real estate marketing for many years but First National Real Estate is leading the charge when it comes to regular customer communication about homes suited to their needs.

Buyer alerts issued from First National’s Utopia cross matching system surged by 50% in 2011 with some 375,000 customers receiving SMS alerts, telling them that a property matching their wish list had just been put on the market. More than 11.8 million email alerts and property market updates were also issued.

The system is used equally by buyers and tenants and customers love the regular, instant updates.

‘Our customers tell us we are the only real estate brand that gets back to them when they take the time to tell us about their property hopes and dreams;’ says National Communications Manager, Stewart Bunn.

Customers register their details by visiting First National member websites and following the links for priority alerts.

‘It’s simple to update search criteria, as your wish list changes, and also to choose to receive market updates or not’ says Mr Bunn.

‘Plus, once you’ve bought or rented a new home, it’s easy to remove yourself from our database so we don’t bother you with updates you no longer need. Our customers just love the convenience and our members have reduced the number of days it takes to sell a home or rent a vacant investment property.’

Find out more about First National’s Utopia system by talking to a local First National member today.

 

 

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Real Estate Agents To Throw Themselves From Plane

January 24, 2012 1 Comment

Rebecca Mannix, Dot Hamilton & Kara Watts at the Sausage Sizzle

Media Release – 24 January 2012

Four staff from First National Palm Beach (QLD) are planning to throw themselves from a perfectly safe aircraft, along with some corporate support from First National Real Estate’s management in a couple of weeks.

The team will participate in the Jump to Cure Diabetes at the Sunshine Coast Airport in an effort to raise and contribute $5,000 towards finding a cure. The jump is being organised by Team Cure Diabetes who arrange fundraising events throughout the year to support their mission to find a cure for Type 1 Diabetes.

First National Palm Beach’s senior property manager, Dorothy Hamilton, said her fellow jumpers simply want to support Diabetes sufferers as well as their colleague, Cara Watts, who’s 8 year old daughter was diagnosed with Type 1 Diabetes when she was 5.

‘The disease has a huge impact on the lives of entire families, not just the person who has been diagnosed’ said Mrs Hamilton.

‘Simply daily matters for healthy children that we as adults take for granted, such as a treat after school, birthday parties and sleepovers, are fundamental things that every child should be able to enjoy’.

First National Palm Beach has asked for community support in its efforts to raise at least $5,000. A sausage sizzle was held last Friday which raised over $871.00.

Mrs Hamilton said that education and support for families is the most important aspect of managing the disease. Funds raised go towards research for a cure but also the support families need to help their children live a full, healthy, normal life.

MacKenzie Watts give the First National Swash a hug!

Those wishing to make a donation in support of their fundraising effort should visit:

www.teamcurediabetes.org.au/divas_against_diabetes

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Issued by: First National Real Estate Palm Beach

For further information contact Dorothy Hamilton, senior property manager – (07) 5559 9800

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Sale Demonstrates Confidence in Ararat, Victoria

January 20, 2012 Leave a Comment

First National Real Estate's Phil Clark and new Centrelink building owner Vic Murray, who purchased the property for a price in excess of $1 million

BY SAM SHALDERS, The Ararat Advertiser

20 Jan, 2012 01:00 AM

ARARAT – Despite many investors taking a negative attitude towards real estate following the global financial crisis, Ararat’s property market appears alive and well.

First National Real Estate Ararat has just recorded the highest selling property in the firm’s history, and perhaps one of the highest Ararat’s CBD has seen.

The property, located on the corner of King and High streets, houses the Centrelink offices and was purchased by private Melbourne investor Vic Murray and his son-in-law for more than $1 million.

Mr Murray would not disclose the exact amount of the purchase but said he hoped the big investment would be long term.

“We were happy with the price we got it for, we offered less than what they were asking (reserve price of $1.75 million), this is a fairly big investment for us, I do have some other property in Melbourne, factories and shops and stuff like that, and hopefully this is going to be another long term asset,” he said.

Mr Murray became interested in buying in the area after seeing a story about the town on the ABC.

“We’ve been looking around for an investment together and I saw a story on the 7.30 Report where they were talking about Ararat and the issues going on with the council, and they mentioned the jail being extended and that an extra 100 jobs would be created,” Mr Murray said.

“I’d seen what happened in Wonthaggi with the desalination plant, and that town just grew. With around 100 new jobs at the prison, if you extrapolate that out to included wives and kids it means more schools and more services of every kind, then Ararat is going to grow too.

“I came up here and had a look around and saw that Aldi had just built a new store and I thought well they’re not going to invest in a town unless they think that something is happening around the place.

“Just driving down the main street, all the car parks are full, there are people everywhere, and I thought yeah the town’s humming along, the new police station, the hospital has been extended it looks like a great place to invest.”

Mr Murray contacted First National Real Estate’s Ararat director Phil Clark, who showed the investors available properties around the region.

“Vic felt that it was a good return, and that’s why people from the city are investing in regional areas of Victoria and in Ararat, because they feel like they get a good return,” Mr Clark said.

“They’ve got a good tenant in Centrelink, a government tenant, and a fairly new building.”

Construction of the building was completed in early 2009, after being purpose built to house Centrelink offices. The same Mildura developer also constructed a Centrelink building in Stawell three years ago, which is yet to be sold.

Mr Murray said if Centrelink decided not to renew their lease in 2015 the property’s modern facilities and prime location made it a great attraction for any business.

“If they (Centrelink) were to move out in four years’ time a building like that could become a major retail outlet for a Harvey Norman or something like that, but we want Centrelink to stay here, absolutely,” he said.

“We are planning a few improvements for the building already, we are going to try and make it a bit more energy efficient and coat the roof in a reflective paint that reduces the energy of the air conditioning by about 20 percent, and I am about to investigate putting solar power in, I’ve got a few things in mind because it is a long term investment.”

Mr Clark said from a real estate perspective it is a good sign that Melbourne investors can see the town is growing and that they are supporting the community by purchasing property.

“It shows that the property market in Ararat is strong, and people are investing here which is good. It’s very positive and there are a lot of job prospects with the prison development, and I guess that is another good reason to invest in the town now,” he said.

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The Lucky Country?

January 18, 2012 Leave a Comment

An example of Australia's vast, undeveloped interior...

Is it just luck that only 4.9% of Australian homes are worth less than their purchase price?

First National Real Estate would argue that luck has nothing to do with it.

The latest figures from RP Data emphasise the resilience of the Australian housing market, despite the ongoing concerns of international market commentators.

According to the organisation, strong growth in home values over the recent growth cycle is why most regions have seen significant levels of equity accumulation. In fact, over the five years to September 2011, capital city home values increased by around 28%.

Although there have been recent declines, as outlined in First National’s 2012 Property Market Outlook, approximately 43% of homes are worth more than twice their original purchase price.

Capital city home values are down 3.3% from their October 2010 peak to September 2011, but taking a longer term view, that’s hardly something for Australians to fret about, especially given the dire circumstances faced by our European and US home owning colleagues who are facing losses in equity well exceeding 40%.

Australia’s property market circumstances are almost entirely unique and largely misunderstood by foreign analysts.

Firstly, the great majority of Australians dwell on the coastline, leaving our vast interior mostly ‘undeveloped’. This makes demand for available land and housing on the coastline unusually strong. This combines with a population which grows at more than 300,000 per year, while we continue to build less than 150,000 homes per year – the opposite of what was occurring in Europe and the USA prior to the GFC. In the USA, a building boom created an oversupply, financed largely through non-recourse lending.

What’s non-recourse lending?

It’s a type of finance you couldn’t dream of acquiring in Australia. Here, before a bank will lend you the necessary finances to buy a property, you must prove you have the ability to pay it back. That starts with at least having a job, unlike some of the lending practices that were prevalent in the States, prior to the GFC, that didn’t require such fundamentals of a borrower. Non-recourse lending also allows the homeowner to walk away if their home becomes worth less than they paid for it, and it then becomes the bank’s problem. Walk away in Australia and the bank will reposess your home, sell it for the best price they can, then sue you for any shortfall. So, in other words, there’s no walking or running away and the investment remains your problem. This provides a strong incentive to ‘hold on’ in times when the market isn’t rising.

The flood of property for sale in the USA is largely the result of homeowners simply handing back the keys and walking off. The cascading oversupply combines with almost zero demand, apart from the occasional foreign bargain hunter looking to take advantage, to further suppress house prices.

So, with an entirely different approach to lending, record immigration, almost zero unemployment, an under-supplied housing market, and a culture that embraces home ownership rather than renting, there’s scant chance of any form of major correction in the Australian housing market despite its current, cyclical softness.

 

 

 

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