Our team at Dougmal Harcourts – The Property People recently attended the Harcourts New South Wales Quarterly Awards at the Queen Victoria Building, Sydney, to celebrate individual and office real estate achievements for the July – September 2013 quarter. The evening had a “Great Gatsby” theme!
We competed against 66 other real estate offices, 150 sales consultants, and over 60 property management professionals across NSW to gain these highly sought-after awards.
ANNUAL AWARDS JULY – SEPTEMBER 2013
Individual Awards:
Bronze Sales Achievement Award - John Krivograd
Silver Sales Achievement Award - Troy Holmes & Tom Spiljar
Gold Sales Achievement Award - Gary Ghassibe & Garth Makowski
Amethyst Pin - Troy Holmes
Property Manager Excellence Award for the Quarter - Laura Makowski
Top Lister - Runner-up, Garth Makowski
Top Marketing Budget - Garth Makowski
Top Auction Lister - Garth Makowski
Top Sales Consultant (No of Settled Sales) - 3rd place, Gary Ghassibe
Top 10 Sales Consultants (Income to Office)
5th place, Garth Makowski
6th place, Gary Ghassibe
Office Awards:
Top Auction Office
Property Management Office Excellence Award - Runner-up
Property Management Office Revenue Award - 1st place
Property Management Business Development Award - Runner-up
N.S.W. Top Office (highest gross revenue per sales consultant) - 3rd place
N.S.W. Top Office (highest gross revenue) - 1st place
A great result for the Dougmal Harcourts team in receiving these awards. A few special mentions must go to our consistently high achieving Property Management team; and to Sales Consultant Gary Ghassibe for an outstanding quarter! Collectively our sales team achieved great results, ranking within the top 3 offices for all areas.
Ask any experienced property investor (landlord) and they’ll tell you that property management is not what it first seems. Many new landlords assume that managing tenants and the property itself is simple and straightforward. They don’t realise there is a huge amount of administration and effort that goes into successfully managing a property.
Following is a list of 5 of the most important things a professional property management agency will do for you in managing your investment property.
1) Finding the right tenant
A professional property management agency has experience in finding the best tenant to occupy your property. Property management agencies conduct background checks, reference checks and conduct interviews to ensure that only the best tenants are considered.
2) Day-to-day tenant management
Property management agencies spend most of their time on the day-to-day management of their landlord’s properties. Property Managers speak to tenants about rent owing, rent increases, noise complaints, any items that need repair, and many other issues that arise on a daily basis. This service allows you to be free of the small and time consuming issues that can be dealt with quickly and efficiently by your Property Manager.
3) Property maintenance and upkeep
Another aspect of managing a property is property maintenance and repairs. Landlords often under-estimate the amount of work and patience this requires; from dealing with the tenant and addressing their queries, identifying the issue, getting the best quote, and then getting the appropriate repairman/tradesperson to fix the problem. Next is the liaison with the tenant to ensure the repairman can get access at the required time, follow-up, and finally billing and payment. Having a professional Property Manager handle all of this for you saves you time and stress.
4) Rent payments and other issues
Keeping track of rent monies and other payments such as water usage is a huge factor when it comes to managing an investment property. Professional property management agencies have the software and systems to keep track of monies paid, and can immediately attend to non-payments before they become a larger problem.
5) Regular and thorough inspections of your property
An investment property needs regular inspections that are fully documented, and if needed, supported by photos.
Property Management agencies will organise for these inspections to be done, to ensure tenants are looking after the property as detailed in the tenancy agreement. Any issues are dealt with efficiently by the Property Manager.
Buying a property is the largest investment most people ever make, yet all too often it's a decision made in haste. Jumping in too soon can cause financial problems and disappointment with your purchase.
To avoid this, here are a few things to keep in mind as you search for your new home.
- Have pre-approved finance before you start looking at properties. Knowing how much you can borrow gives you clear direction as to the areas you can look at buying, and the type of property to look for i.e. unit, townhouse or house.
- Next comes the fun part - finding the property you want. You should have a list of your “essentials” that you take along with you on your “property hunt”, for example 3 bedrooms, 1 bathroom, 2 living areas and a double-car garage. Keep referring back to this list to keep you focused on what you are looking to achieve.
Also consider things like proximity to schools, transport and amenities, and the condition of the property. Does it need major repairs?
- Buying a property can be complex and emotional. Avoid buying on your own and involve key family members or friends that are educated in purchasing property. This helps you see a more rounded view of the properties you’re interested in.
- Visiting a property twice before making an offer is essential! This gives you a more comprehensive view of the property before you make that first offer.
- Be careful not to overbuy. You may be qualified to borrow a certain amount of money, but can you comfortably afford to make the mortgage repayments? Analyse your monthly costs - debt, food, cars, etc., and gain independent advice if needed. Make sure you also allow enough to cover extra costs (pest and building inspections, deposit, mortgage insurance, stamp duty and legal costs). Also factor-in moving and renovation costs.
- Make sure you get everything in writing. If the agent says the spa is included, make sure it is in writing.
Never make an unconditional offer - you should protect yourself with these two contingencies:
Mortgage financing - you’re pre-approved, but is the property? Before the bank will lend you money, it will want a formal appraisal of the property. If the property appraises lower than the sale price, the loan may be declined.
Inspection - never buy a property without a building and pest inspection. This relatively small amount can save you thousands if there are problems.
Remember to keep to your budget and take your time to find a place that feels like home.
Last week we had our second in-room auction event for October, held at the Rydges Hotel in Campbelltown.
The auction event achieved outstanding results, selling 4 of the 5 properties under the hammer – an outstanding 80% success rate! The best result of the evening was the sale of 2 Cudgegong Road, Ruse, gaining the highest recorded sale in Ruse’s history!
Most of the other properties achieved above our sellers’ reserve prices and expectations, with one selling at the reserve price.
RUSE, 2 Cudgegong Road – SOLD!
EAGLE VALE, 11 Gypsum Place – SOLD!
INGLEBURN, 5 Hispano Place – NOT YET SOLD
ESCHOL PARK, 3 Epping Forest Drive – SOLD!
KEARNS, 51 Diamontina Avenue, Kearns – SOLD!
5 Hispano Place in Ingleburn was not sold on the night, however we have quite a few parties interested in the property, and we expect to sell this within the next couple of weeks.
Another brilliant effort by my team in attaining such great results for our sellers and purchasers! The night was action-packed, fun, and exciting for all!
Congratulations also to our successful sellers and purchasers!
Thanks again to our Auctioneer, Paul Casarotto, and the wonderful support from Domain, The Macarthur Advertiser and Harcourts NSW.
NEXT IN-ROOMS AUCTION TO BE HELD ON 19TH OF NOVEMBER, AT THE RYDGES HOTEL, CAMPELLTOWN.
