Living the Australian Dream? - 30 | 08 | 2012

A great deal has been written about the increasing level of difficulty that Australians face when trying to enter the property market. The gap between the average annual income and the price of an average house continues to widen, particularly in and around Australia’s capital cities.

Despite some predictions that sooner or later the bubble might burst, population growth remains an ever present consideration and ultimately it’s hard to see the tide turning any time in the future.

The last decade has yielded a particularly alarming statistic. ‘The Australian’ reported in 2011 that the average house price was 7.3 times the average annual income, versus 4.7 times in 2001.

Interestingly, the Australian dream of property ownership has not always been the cultural norm. At the time of the 1911 census, the majority of Australians were renters. 49% of people owned their own home, as opposed to 70% today. Commentators often cite a rising middle class and Robert Menzies’ famous “forgotten people” speech in 1942 as key factors for instigating this shift, but nowadays home ownership might actually not make much economic sense for young people.

AMP Capital Investors chief economist Shane Oliver went so far as to say that from a financial point of view, potential first home buyers might be better off renting forever and investing in the sharemarket as an alternative to massive mortgages and fluctuating interest rates. People seeking security or those with an emotional attachment to the idea of home ownership may find that the dream is difficult to relinquish, but one can’t help but wonder where the tipping point is….

Words by Ed Prescott I IMAGEination.tv

category: Interest rate watch

UK Property Market and the 2012 London Olympics - 17 | 07 | 2012

Times are certainly tough in Europe at the moment with the European Union battling to save the euro and deal with the continuing fallout of the GFC. The UK is currently revelling in a momentous year that celebrates the queen’s Diamond Jubilee and will shortly play host to the 2012 Olympic Games. However, with property prices at the lowest levels in recent years, can London and the area’s outside the city expect an upturn in wake of the games or will it be another costly extravaganza leaving behind empty shells only visited by tourists?

Since the 2008 games, China’s magnificent ‘Bird’s Nest’ stadium has at times been relegated to a winter amusement park and the $14.4 billion Games in Athens has been cited by some as a source of its crippling financial woes. Certainly not the kind of results London will be hoping for.

“London is still a solid investment,” remarks Liz Peace, chief executive of the British Property Federation, in an interview with REIT.com. “What is planned for Lee Valley (a previously derelict area developed for athletic training)… is absolutely stunning,” says Liz.  “I think we are going to see a whole new area of London opened up, that this would not have happened if we hadn’t had the Olympics.” While London will always fair well as a great global city, it will take careful economic planning to invigorate the market outside of London, but the two week party will certainly be a welcome diversion from these austere times.

Words by Phil Brook I IMAGEination.tv

category: Real Estate

Decoding real estate ads - 09 | 05 | 2012

At IMAGEination we tend not to use abbreviations – full sentences and adequate explanations make our copy stand out from the rest when trawling through real estate.com or paging through the Domain section of the Sydney Morning Herald.

However, classified ads are different story – abbreviations are a necessary tool to deliver information in the smallest possible space. This article will try and decode these abbreviations so you know what to expect when you turn up at an open home.
Bedrooms with built-ins, b/ins, BIR – any one of these three abbreviations are used to say built-in wardrobes, as in the cupboard that is built into a bedroom so there’s ready-made storage for your stuff. Built-in wardrobes are standard in most new homes and would be an easy way to add value if they aren’t installed. A benefit to a home already having built-ins is that they give you an idea of how much space you have in a bedroom without having to guess how much room the cupboard will take up – it’s already there.
WIR, Walk-in – this is a walk-in robe, the more luxurious version of a built-in which is usually bigger with more space for storage.
Ens – is an ensuite bathroom, meaning a bathroom which you don’t need to leave your bedroom to find.
LUG, SLUG, DLUG – no we aren’t talking about slugs, bugs or other creepy crawlies, LUG is lock-up garage, with the S and the D standing for single and double.
Fl/boards – timber floorboards, sometimes preceded by ‘pol’ meaning they are polished timber floorboards. Floorboards are seen as advantageous as they are easy to maintain and look great.
RLA – rear lane access. This is where there is the ability to enter the property from a lane at the back. It usually means the garage is in the backyard and you can drive into it from the laneway rather than the street address. It sometimes means that the access is only for pedestrians, but there is always potential for parking STCA…
STCA – this means subject to council approval. This term is used for explaining the obvious potential that a property has, in terms of renovation ideas or external changes that could be made. STCA is used as an advisory that these changes and uses may need to be approved by council before you do them. This could mean creating a parking space in your backyard to make use of rear lane access, extending living areas or building a second level.

Words by Megan Macpherson I IMAGEination.tv

category: copy writing, marketing, uncategorized

How to choose a real estate agent - 09 | 04 | 2012

Selling your home can be a stressful time and having the right agent to help you through this often complex process is crucial, according to most real estate online sources. Today much of the information required to begin your research on an agent is readily available on the web with some of the more common methods outlined below:

1. Check an agent’s professional credentials and experience. Review their previous sales, areas of expertise, biographies and current listings.
2. Ask family and friends for referrals. Is there someone they used that they trust and who was committed to them? Did they receive the kind of customer service that went above and beyond their expectations?
3. Interview a selection of agents and ask for an appraisal of your home. Ensure they have a deep level of knowledge in your area and the type of property you are selling. Ask if they can provide references?
4. Agents should be expected to know the sales history of your home and local area data to support their financial recommendations.
5. Take into consideration that the highest appraisal may not be a realistic one and that the lowest commission fee may not actually serve your best interests in the long run.
6. Ask an agent what sort of marketing campaign they intend to employ. Have they got past and present examples?
7. Ensure you understand and check every aspect of an agreement and make sure there are no hidden costs etc…

Before making any important financial decision it is important to consider your own individual circumstances and seek professional advice.

Words by Phil Brook I IMAGEination.tv

category: Real Estate, Real Estate Marketing

Is energy efficiency also economic efficiency? - 01 | 04 | 2012

By Megan Macpherson I IMAGEination.tv

Climate change is a hot issue, with home owners seeking to make alterations to reduce their energy bills and make their home more comfortable to live in, while helping the environment.

According to the Australian Government Department of Climate Change and Energy Efficiency, “the energy used by Australian buildings accounts for approximately 20 per cent of Australia’s greenhouse gas emissions, split fairly evenly between homes and commercial buildings.”

A revision of the National Construction Code (NCC) by the Australian Building Codes Board (ABCB) was requested by COAG, in order to increase energy efficiency and reduce greenhouse gases. This requires a 6 star energy rating or equivalent for new residential buildings.

So now buildings need to be constructed to meet a required level of thermal performance, with regards to the building fabric, external glazing and shading, sealing, ventilation, insulation, heating and cooling systems within the home.

There is no doubt that constructing the home with passive heating and cooling will reduce greenhouse gases, but there is some speculation that the higher star rating does not mean higher financial saving in direct correlation.

A report by the Centre for International Economics commissioned by the Master Builders’ Association Australia, entitled Energy-efficiency: building code star-ratings states that “Energy efficiency is not economic efficiency.” It goes on to conclude that “The benefits of increasing the star rating beyond about 5 starts are minimal… Forcing home owners to build houses with higher star ratings imposes higher costs (in terms of building resources) that it saves in terms of the value of energy resources.”

With this kind of information, it seems there is equilibrium between reducing greenhouse gases and reducing costs which sits at about 5 stars. In dollar terms the financial cost can be measured now, but Australia will have to wait to measure the overall impact on climate change – by then will it be too late?

category: Clmate Change, Development, Energy, Environment

Why floorplans should be an essential part of the marketing mix - 23 | 02 | 2012

In such a competitive market it can be difficult to find that marketing edge but can something as simple as a floorplan make all the difference?

In a recent survey of their buyers online habits a leading real estate agency found that one of the simplest and cheapest products on the market, a floorplan, could hold the key to success.

They found that house hunters browsing online, drawn in by the photos on a particular listing, would review the floorplan (if one was available) before even reading the property description.

Buyers reasoned that while the photos whet their appetite for a particular property it was the floorplan that gave them the hard info they desired.

It gave them instant access to the important requirements they sought in a property, for example how big are the rooms, how do the living spaces interconnect, how are the bedrooms laid out, and how big is the yard.

Anecdotally though few agents use floorplans on all their property listings, most use them selectively but a large percentage of agents don’t use floorplans at all. Are they missing out? Buyers trends are suggesting yes.

Are floorplans only useful on websites though? Again, research says no. Where a floorplan is available at open homes, either as a print out or on the back of a double sided brochure, prospective buyers are gathering these up to review at the end of the day.

So imagine a potential buying couple, spending Saturday after Saturday hunting for that perfect property. On a good weekend they may attend upwards of 6-8 properties and by the end of the day they are probably struggling to remember one from the other.

Feedback has indicated that buyers in this position will refer to the floorplans they collected at the open homes, not only to recall details but to start mapping out the potential of the home for example marking out walls on the floorplan for potential removal and renovation.

Floorplans therefore, as simple as they may appear, are proving to be a powerful tool for agents and vendors to hook buyers by giving them the information they require in a easy format.

But if you haven’t used floorplans before there are some tips to learn along the way.

The first would be if you’re going to use a floorplan showing everything. It seems odd to give buyers a beautiful layout of a 5-bedroom family home, but not include a siteplan of the outdoor space and land.

And following close behind, providing a scan of a builders or architects plan might make initial sense, but if an average buyer can’t read what is usually a highly detailed mass of measurements and lines then they’ll give up in frustration and move onto the next listing.

So what should you be aiming for with a floorplan then? Clean, easy to read and understand layouts of the interior spaces matched with a basic overview of the land the property sits on, with a clear measurement scale, north point and room labeling.  Simple!

By Ryan Lahiff I IMAGEination.tv

category: Real Estate, Real Estate Floorplans, floorplans, marketing

Expert tips for preparing your property for photography - 12 | 02 | 2012

Ryan Lahiff, photography manager at IMAGEination.tv, estimates that he has snapped more than 10,000 properties over the past 12 years. Here, he shares his expert tips on how to get the best pictures for your property.

What are some of the key elements of a good real estate photograph?

“Traditionally good real estate photos are about space. Unlike, say, a magazine feature, real estate photos need to convey space, because that’s what people are buying, whereas, say, a nice magazine feature is more about the things that are in people’s houses, the nice furniture or the way they’ve styled something nicely. Space is what real estate is all about so we try to make rooms look as big and open and bright and airy as possible.”

Does that mean it’s best to keep furniture and decorations to a minimum?

“To a degree; you want to walk that fine line between de-cluttering to make a room look neat and tidy but not going so far that you’re depersonalising – there’s almost that risk of taking too much away so that it looks like a display home; you take away that personality and that soul. Despite what I said earlier about selling the space rather than people’s things that are in it, the things that are in it can go a long way to setting a tone and a mood that encourages people to want to come and look at a house and potentially buy a house. Kitchen areas, kitchen benches, tend to be natural hording spots in most people’s houses so generally we would encourage the owners to take away all of the appliances – kettles, toasters, things like that – and just keep things that are on the benches to an absolute minimum.”

What are some of the most important things an agent or vendor can do before the photographer arrives?

“I think the biggest one is just being prepared and … thinking about what the photographer will need. Obvious examples [include] making sure lights work, that broken bulbs are changed, particularly if you’re doing dusk shots [and] particularly things like swimming pools … It’s also being aware of not [just] what’s in the room but what you can see outside the room as well. Some people put a huge amount of effort into preparing a room but don’t think about all the junk that they’ve hidden and it’s clearly visible through the windows. [It’s also good to discuss with your agent and know which rooms will be shot before the photographer arrives]; quite often we’ll turn up and people will have spent hours and hours preparing rooms that we don’t even need to worry about.”

Which areas should people usually prepare?

“The main areas we focus on are the front and back of the house – yards, swimming pools, things like that – and inside, generally, we’ll stick to the main living areas – so the kitchens, lounge rooms, dining rooms, living spaces. If we’re going to shoot a bedroom it would generally only ever be the master bedroom, we don’t, or very rarely would we ever, shoot kids bedrooms, guest bedrooms, things like that unless they have an amazing view or some special feature. Bathrooms we sometimes shoot but not always.”

What are some of the most common mistakes that people make in preparing their homes for a professional photo shoot?

“I would never say there’s a mistake because at the end of the day the photographer will just adapt to whatever is presented to them and as photographers we need to be very versatile to work with any number of situations. However, things to avoid would be very clichéd things when you set up a room. To give a classic example, things like the champagne bottle with a couple of glasses; it’s very ‘80s set styling and we tend to try to avoid that now.”

What sort of props can help to enhance a real estate photograph?

“Fruit and flowers are the obvious ones. With flowers you want to always have appropriate sized flowers – you don’t want a vase with 10-foot tall branches in it on a table because it just dominates. Fruit is definitely a huge bonus, particularly when it’s done with a sense of purpose [for example] colour co-ordinating the fruits so it’s all red apples or all green apples is a lot better than just a general collection of fruit in a bowl. But certainly things like fruit and flowers are a huge help to just convey a sense of colour and that certainly can make even the most boring room look a little more interesting and inviting. In terms of other props, every house is different so it’s hard to bring things in on a small scale and have them suit what’s there. Generally the photographer will work with what the vendor has on offer to coordinate cushions or bits and pieces to set a tone or a mood.”

Is professional styling necessary for all properties?

“It always helps from a photography point of view. It’s very easy to shoot an empty house however rooms don’t tend to have a sense of purpose or a sense of scale. [Potential buyers] will generally struggle to visualise furniture in a room without there being furniture [and] I think average people just don’t get a scale of how big rooms are when there’s not furniture in there. I think it’s a worthwhile investment and it’s something worth spending good money on; as with most things in life, you can cheap out and take the very cheap option but I think in photos and when people turn up, if they see cheap styling they tend to associate cheapness to the house and I think that sends the wrong message.”

Anything else you’d like to add?

“One big thing that gets overlooked is how important the vendor’s involvement is. We would always encourage the vendor to be there – it’s their home, it’s obviously their most prized possession that we’re coming to photograph and the agent’s coming to sell, and having them involved as part of the process just gets the whole process of selling the house off on the right foot.”

By Brooke Lewis I IMAGEination.tv

category: Interior design, Lifestyle, Real Estate Photography, marketing, photography

Property insight: How to prepare to shoot a great property video - 23 | 01 | 2012

The advance in technology and online media has created many new opportunities for real estate professionals to gain an advantage in a highly competitive industry. Ever more present, video presentation is seen as a pivotal tool in showcasing a property’s most salient features and best qualities.

According to Digital Media Manager – Nick Keenan of IMAGEination.tv, there are some simple rules that should be followed prior and during the shoot:

  1. Ensure the property is de-cluttered as much as possible and remove personalised objects. Hide wires, straighten bookshelves and coordinate furniture to heighten the sense of space. For kitchens, remove obvious appliances and clear benchtops of objects. Soft furnishings should be fluffed and bed sheets straightened.  In preparing the outdoors, the same rules apply such as hiding bins, removing cars from driveways and clearing away leaves.
  2. Agents involved in the shoot must have a thorough knowledge of the property prior to the shoot and understand what angles and rooms will best highlight the home. If necessary have a script prepared, as a natural, flowing presentation will be more likely to influence the audience.
  3. Pick the right time of day to do the shoot. Be aware of the direction of sunlight, particularly for outdoor scenic shots and be conscious of any noise interruptions that might occur during the video.
  4. Property styling can reinvigorate interiors. Adding contemporary furniture, artwork and flowers can provide a splash of colour and create a chic modern aesthetic.

Above all, it is important that all parties understand the purpose and objectives of the video and ensure it complements the overall marketing strategy.

Words – Phil Brook I IMAGEination.tv

category: Design, Real Estate, digital media, marketing, online video, video

Get noticed with a personal branding strategy - 13 | 12 | 2011

Give your business a boost by incorporating a few public relations strategies to increase your public awareness allowing you to connect to would be customers in a positive way. Branding is just one part of an overall strategy that you can use to expand your business and get up front and personal with the general public.

Although you may not be able to give large donations to charity, you can do other charitable works. While an interview on a national television network maybe out of the picture you still have the ability to get free editorial with your local newspaper. Remember, if you work for yourself, you are the public face of your business and all you need to do is let the public see that you have heart and want to connect to them in a personal way.

To create a positive public image you need to care about the things in your local community and show passion about things other than your business. The result is that the community will see you as a ‘real’ human being, not just someone out to make as much money as they can.

Personal branding is more about an emotional connection between your service and your customer. It’s the personal touch that matters most to the public and if used correctly you will help your business grow and expand.

Words by Bernadette Marr, IMAGEination.tv

category: Brands, Pesonal Marketing, Public Relations, Real Estate, marketing

Summer: To sell or not to sell - 09 | 12 | 2011

Aaah, summer. School’s out, the roads are eerily empty and the ‘swell’ isn’t just at the beach. Hotel and resort occupancy is at an all-year high over summer, particularly in the Sunshine state, where the Gold Coast – the theme park capital of Australia – becomes a beacon for visitors from interstate and overseas.

Summer is a celebration of many things, but don’t chill the champagne just yet if you’re putting a property on the market. In fact, summer rates a miserable third when it comes to the best season to sell, behind the peak times of spring and autumn. Many potential buyers are away on holiday, Christmas and family commitments tend to take precedence, while those extended daylight hours and lengthy school holidays combine to create a major distraction from the serious business of buying a house.

But summer can be the perfect time to sell if you’ve got the goods. Consider a home that’s close to the beach, has ocean views or beautiful gardens which make the most of the outdoors. These are features that are often at their most appealing during the summer months. A home that’s normally dark and gloomy at any other time of the year might also be more attractive in summer. At the end of the day, a desirable property at a good price will always find the right buyer.

Words by Michael Church, IMAGEination.tv

category: Auctions, Real Estate, marketing