Real estate websites are undoubtedly the most important tool needed to sell real estate. Regardless of whether you are using a real estate agent or selling your property privately you need to make sure you have effective web presence for your property listing.
More and more property owners are getting themselves into financial hardship through purchasing their dream home before they have sold the current property they are living in. They do this by entering into Bridging Finance to pay for the property they are purchasing which is then repaid once they sell their current property.
This all sounds great in theory especially in a rising market and if a real estate agent has given an overstated value of the owners current property they trying to sell. But with rising interest rates and a declining property market many owners haven’t been able to sell their current property in the timeframe nor for the price they require.
Property prices in suburbs located on the fringe of capital cities are decreasing much faster than those suburbs closer to the CBD’s or public transport. Due to rising petrol prices the cost of getting from these isolated suburbs to work is now eating away at these household budgets.
Finally Australia’s best free private real estate selling website has had a facelift. We have listened to the feedback of our property owners and private sellers and redesigned the Privatepoint website and system to make things a little easier and a lot more enjoyable.
The first noticeable change is that Privatepoint is free. We were previously charging $198 because this is the fee we were required to pay Propertypoint one of the websites we automatically send your property listing to. Property listings entered in Privatepoint will no longer automatically appear on Propertypoint. Rather, if you would like your listing to appear on Propertypoint you can request this addition and pay Privatepoint the listing fee of $198.
We are happy to welcome our newest Privatepoint partner Suburb View. Suburb View is the first real estate search engine operating in Australia. What is a real estate search engine? Basically, it is like a Google search engine which crawls existing real estate agent websites and real estate portals looking for real estate listings. When it finds real estate listings it extracts a photo, the property details and the first line of the property description and places it on the Suburb View website.
This is great for the real estate industry as it no longer requires real estate agents to set up data feeds of their property listings to be send to 3rd party websites. This means that more and more real estate search engine websites will appear improving search functionality and user experience for people searching for real estate.
Most real estate agents prefer a property auction as a method of sale when recommending options to their vendors. Auctions are great in a rising market but in a subdued or cold market auctions can be quite disastrous. This article is going to look at reasons and motivations why real estate agents prefer auctions over private treaty and the consequences for property owners.
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The Privatepoint website and system is being upgraded so things may look a little untidy and may not work correctly over the next couple of days.
Sorry for any inconvenience but the new design and layout of both the website and system will make things a lot simpler, easier and enjoyable for users.
Kind regards
Privatepoint Team
Following up from my article on Vendor/Owner Finance I thought it was relevant to discuss a variant of Vendor Finance commonly known as Rent-to-Buy, Rent2Buy, Lease2Buy and Lease-to-Own. With Rent-to-Buy the tenant of the property enters an agreement with the landlord/owner of the property to rent the property for a period of time with the option to purchase the property at a future date.
The tenant may or may not be required to pay a bond/deposit upfront to the owner for the option to purchase the property. The property price is determined up front and the owner is obligated to sell the property to the tenant at a future date for that price. Usually the tenant will pay the owner an extra amount of money with each rental payment which will accumulate with the initial deposit paid. If the tenant decides to purchase the property the deposit paid along with the accumulated extra payments with the rent will be deducted from the sale price. If the tenant doesn’t take up the option to purchase the property they lose the deposit and any extra payments made.
The words Vendor Finance when used in conjunction with the sale of real estate don’t often paint a good picture in the minds of many people. Vendor Finance is often associated with unreasonable terms and dodgy dealings which invariably don’t work out for the purchaser. This is not always the case and is a misconception due to a general lack of understanding on how these deals should be structured.
In actual fact Vendor/Owner Finance could be the solution for a property owner being able to sell their property in a timely manner for the price they have set. With the global credit squeeze impacting on Australia it is now harder to borrow money from a bank, forcing many renters to put on hold the dream of purchasing a property. Vendor Finance offers a way around this, as long as the property seller offers reasonable Vendor Finance terms then it is an effective alternative means to sell a property with minimal risk.
