Monthly Archives: March 2014

Peter O’Malley will be at Berkelouw Paddington Bookshop on March 27th 2014 to speak about Real Estate Uncovered.

Australia’s real estate world is a multi-billion dollar industry. Every week, tens of millions of dollars’ worth of property changes hands. The people who control this industry are the nation’s real estate agents.

In his groundbreaking book, Real Estate Uncovered,  real estate agent  Peter O’Malley breaks ranks with the industry spin and uncovers exactly what goes on beneath the slick promises, the fancy advertising and the craftily worded press-releases that are made to entice sellers and buyers into the arms of real estate agents.

Peter O’Malley entered the real estate industry at age 19 in 1997. Within seven years he bought the estate agency in which he worked. In his career he has sold more than half a billion dollars worth of real estate – and he has never charged a home seller a single dollar in upfront advertising costs.

You are invited to meet Peter when he introduces Real Estate Uncovered at 6.30 pm on Thursday March 27th at Berkelouw Books in Paddington.
If you would like to come down and meet Peter when he introduces Real Estate Uncovered he will be there from 6:30pm.

Where: 19 Oxford St, Paddington, 2021, Sydney
When: Thursday, 27th March
Time: 6:30 PM

Hope to see you there!

List with a sales team, not a salesperson.

One of the key indicators of whether an agency will be able to get you the highest possible price for your property is whether they offer a team approach to selling your home.

When a sales team is engaged to sell your property, as opposed to one salesperson within an agency, the home seller is given a significant advantage over other more common sales systems. The entire sales team has an incentive to sell your property not just one person within the team.

While this may seem like a logical way to sell real estate, it will surprise many people to learn when they list with a ‘large brand’ franchise group, only one salesperson and maybe their assistant receive any benefit or incentive to sell the property.

Under this structure there is no motivation for a team of people to assist you in achieving the right price. This is why many salespeople ask the property owner to spend big on advertising — they’re compensating for a lack of salespeople working on the sale even though there may be 10 of them at the agency.

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Baby Boomers Make the Move

The great migration has begun. Baby boomers are capitalising on strong prices by selling their family home and downsizing. Early indications suggest luxury apartments are their destination.

Whilst this great migration is only in its early stages, there is no doubt that it could have a disruptive impact on the property market. History tells us that whenever baby boomers act in unison, it creates either a boom or a bubble.

However, this anticipated ‘sea change’ may not unfold as many predict. Many boomers who have already headed out of Sydney have since noted with regret that they are isolated from friends, family and crucial medical facilities, including hospitals. This in turn, has led to the current trend of downsizing to apartments in the same region (often luxury ones) resulting in an ‘apartment change’ rather than a ‘sea change’.

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Photoshopping

‘Can we see the property in the brochure?’ asks the naive home buyer. ‘Yes of course’ replies the agent, ‘you are standing in it’.

Welcome to the world of photoshopping. The technology is so advanced that almost anything can be done to change, alter and enhance a real estate photo.

Whether it be disappearing power lines or a zoomed in and cropped photo of the “stunning view” from the bathroom window, photo shopping is rampant.

In some cases, photo shopping can be used to great effect without being deceptive. Instances such as dropping in blue sky given the photo shoot was taken on a rainy day or vanishing the tea towel that was accidentally left in the kitchen shot. Such enhancements do not alter the physical aspect of the house but they do ensure the best possible marketing.

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