NIK BROWN REAL ESTATE

  Fine-tune Pricing In a free market, market determines the price of any product. We may want to feel that we are in control and capable to determine the pricing of our product as a feel good factor, but in reality, it is always the market that shapes this sentiment. Market feedback is the key to achieving realistic pricing for your home. The progress for the marketing campaign provides key metrics to determine when pricing adjustment may be required.  For example, the weekly outcome of the marketing campaign should provide enough data to evaluate the strategy and pricing for the sale of the house. Incase no offers have been received towards halfway mark of the marketing campaign, the fine-tuning of the pricing should be considered. It is of high importance that assumptions be avoided at all costs, therefore, it is the professional responsibility of the real estate agent to exercise this option with due diligence and support the change in pricing with evidence. Assuming t...

  Curtail Expectations Any home owner would despise the idea of discounting when selling their home Expectations are the bane of any relationship and in this instance, it is the relationship between the home owner and the house. It is very important that once the owner makes the decision to market their home for a sale that they start treating their home as a house , a product rather than their adobe. Once the expectation is set, the owner will be able to maximum on their product by building and revisiting different strategies to sell. Selling a product when there are many out there can be challenging and time consuming. Depending upon the goal of the current transaction and if it is very important to sell in the current window of opportunity, discounting can be a very effective strategy. Now, a few key things to remember if discounting is applicable to your situation: Renovated and high quality homes without imperfections may not need to adopt this strategy to discounting as their...

  Know your local market Cooling of the property market shifts the scales in favour of the buyer.  The difference in demographics is the driver towards impact trajectory of the cooling market across different locations, e.g., Tree and sea changers, during the time of COVID-19, flocking back to the high rises will negatively impact outer suburbs prices as the trend will create a positive impact on the inner city unit prices. As a home owner, if you are interested in selling your property, it will pay dividends by keeping informed at all times. Some of the ways to keep at the crest of the wave are as follows: Subscribe to reputed financial journals and papers. The quality of information from these sources will certainly keep you informed about the market trends and insights. Engage with local real estate agents over casual conversations in order to validate your own understanding and also validate the knowledge of the agents itself. This will help you choose the right agent with...

Buying your first home is once in a life-time, just like your first child, it is exciting and stressful at the same time. We save a great deal over years for the initial deposit and when its time to make the move... every opportunity seems to slip away.   We had it all figured out but then something does not add up!!!   You got that one right. Yes, the reality is that it just does not add up. So, what does not add up? Simply, its the expectations. What do you mean, we are honest and humble people looking to buy a decent home!!! That is absolutely right and it is not your expectations about buying a house those are off, its the expectations from the transaction. If you would allow me to explain? Sure, go ahead Buying a house is a set of transactions which directly and indirectly impact the outcome of the value of the property it would be sold for. Every time we see a property listed for sale, it has been appraised and is signed off by the owner to allow the realestate agent to ...

The practice of renting a property to live in while owning an investment property, has gained popularity in Australia due to high property prices. This strategy offers both risks and benefits to consider. Benefits Property Ownership : Rentvesting allows you to enter the property market as an investor while still enjoying the lifestyle benefits of renting in your desired location. Financial Diversification : Owning an investment property can diversify your investment portfolio beyond traditional options, potentially providing rental income and capital growth. Tax Benefits: Investment property-related expenses may be tax deductible, such as interest payments, maintenance, and property management fees. Risks Dual Financial Commitment : Rentvesting requires managing two financial commitments - your rental payments and the investment property expenses, which can strain your budget. Market Volatility : Property markets can be unpredictable, and while there's potential for capital grow...