Looking for the next hotspot?

Where’s the young crowd?

Often, people who have rented in one place for a long time will seek to buy a home in the same area when it comes time to purchase a home. There is a lot of comfort in the familiar, and this can be an indicator of where you should buy investment property down the line. If a neighborhood is largely populated with people in their late 20s or early 30s of the young professional mould, it can suggest this will become a growth area as they become first home buyers in the same neighborhood. Tree removal and Trimming

Cutting edge cafes

When you’re buying an investment property, it’s easy to get sucked in by talk of hot spots and purchase in an area that has already peaked in price, meaning you don’t get best possible returns on your money. By keeping the points below in mind, you can buy into a new home and feel much more comfortable about the price performance into the future.

One early indicator that a suburb is on the way to gentrification is more and more upmarket shops opening nearby. If a local vintage store is replaced by a boutique fashion store, or a notable local hairdressing salon decides to relocate to a new area, it can mean people with more money to spend are demanding new amenities in the area. New cafes will begin to pop up around the corner, and you’ll see the median prices bump up as the suburb becomes more popular and appealing for buyers.

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Look for the warning signs

Have you ever walked around a suburb, loved the look of it as an investment paradise and then run into a large franchise fast food store? It may be best to look elsewhere in this case. By the time these stores set up shop in an area, it is generally accepted as an established hotspot, and has run through a lot of the price growth it is likely to experience.

Real estate agents lead generation appointments.

9 Interview Questions to Ask Your Real Estate Agent

What have you sold recently?

This will enable you to not only see their success rate, but also the kinds of homes they’re selling. For example, if you’re selling your two bedroom house, you won’t want an agent that has predominantly been selling units. Realtors learn lead generation.

Do you have any references from previous clients?

A good real estate agent will happily provide you with a list of previous clients that you can speak with. If not, then you know that something might be amiss.

Can you show me your licence and registration?

Sounds like something an American cop would say in a tacky TV show right? Only ask this if you’re unable to find their licence details online with your relevant state authority. All real estate agents must go through a stringent licensing process before they are legally allowed to practice – the penalties for working without one are worse than being caught operating a car without a drivers licence.

How would you sell my house and why?

There are several ways to sell a home, and all have their strengths and weaknesses depending on the local market. Asking this question is a good way to gauge the agent’s knowledge of the property market, with your area in particular.

For example: “I would sell your home by auction, as figures from last week show that homes in your area sold with an 80 per cent success rate.”

What advertising do you recommend?

Most of the time, the marketing of your home comes out of your pocket, so you want to be clear on what you’re actually paying for. Discuss the different options available, how they would like to advertise your property and how much this will cost.

How much do you think my home is worth?

This is probably the question you’re most interested in! Be wary of agents that give you an unrealistic price – if it sounds too good to be true, it probably is. Ask what their opinion of market value is based on, as well as some examples of similar homes that have sold. Tree trimming and removal

How long do you think it will be on the market?

This will give you an idea of the agent’s expectations. You can compare it to the current average market time in your area to gain a better understanding.

What’s your commission?

Find out how much the agent will charge you for their services, and then ask them to justify their fees – especially if they’re more expensive than other agents. Remember that you’re not looking for the cheapest, but the one who will offer you the most for their costs.

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What makes you different?

With this question, you leave it to the agents to seal the deal and sell themselves. They’ll be able to tell you why they’re better than their competition, both as an agent and agency.