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Auctioneers Vs Agents – What role do they play?

This is the 2nd last post in our Auction Series. If we haven’t covered a topic you would like more information on, it’s not too late! Just send us an email to info@beachandbay.com.au and we are happy to extend our blogging!

An auctioneer and an agent have very different roles during a real estate auction. An agent is responsible for the marketing of the property during the auction campaign; establishing where the property sits in the marketplace with regards to price; and ensuring that the vendor is consistently updated on buyer feedback.

Prior to auction day the agent will meet the vendor and discuss what feedback buyers have given on price, how many buyers are interested, how many contracts have been issued and then the vendor will set the reserve.

On auction day the auctioneer’s role is to encourage bidding, take bids and sell the property under the hammer. You could say that the auctioneer is the showman, as they take centre stage on auction day.

Thus the main difference between the two roles is that the agent is responsible for the lead up and preparation for auction day, and the auctioneer is responsible for the performance on auction day.

The agent also has a role on auction day and the work the agent has done in the weeks prior to auction day lay the foundations for a successful auction.

On auction day the agent will often work the floor, encouraging bids from buyers or consult with their vendor when bids are slowing down.

The agent also exchanges contracts after the fall of the hammer as most auctioneers race off to their next auction.

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NSW State Budget – New Incentives for Home Buyers

As far as I can determine the latest NSW State Budget for 2010 – 2011 includes 4 incentives for some buyers to buy property, mainly new ones.

1)      “Off the plan buyers” up to $600,000 will no longer pay stamp duty. This is going to help developers obtain finance because banks want pre sales before firming up financial arrangements for their clients.

2)      Home buyers that buy during construction or at completion will receive a 25% reduction in stamp duty on purchases up to $600,000. This incentive will help some “spec builders”.

3)      “Empty Nesters” (or last home buyers) over 65 are being encouraged to sell their main home and buy another home up to $600,000. Those who do this will pay no stamp duty on the purchase.

4)      First Home buyers are getting $7000 plus they pay little or no stamp duty on home purchases up to $600,000 for another two years.

Those interested are encouraged to read the fine print about the “NSW Home Builders Bonus” by looking at the Office of State Revenue site.

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Reality Real Estate Part 3

This is the third part to our reality real estate blog series where Kylie Emans reveals the good, the bad and the ugly in the real estate industry.  See here for Part 1 & Part 2.

In real estate is everyday the same?

Kylie Emans: No! That is why I like it, everyday is completely different. Theres always a new house to sell, new clients to meet, new challenges to face.

Are there any common aspects that do happen from day to day? 

Kylie Emans: Definently, My caffeine hit in the morning to get me started. I do prefer to do paper work in the morning as well, but if a house presents better in the morning my appointments will start in the morning. I check, my emails, twitter and facebook everyday and I speak to my vendor’s everyday.

What are the different steps in selling a property?

Kylie Emans: Firstly the introduction to the client. For Beach and Bay this is normally from a referral from a previous happy client. We then informally ask the client for basic details about the property over the phone ie ‘how many beds, baths garage? Pool? etc. and then we do research on sales in the area.

 Next we tour the property with the owner and sit down to discuss marketing strategies, prices, commission and then the owner and myself agree on a selling strategy and sign an agency agreement. 

The owner then orders a contract for sale from their solicitor or conveyancer which we must have a copy of before advertising or showing buyers through the property. We then book the photographer, floor plan and youtube video, order a signboard and upload the advertising to all our websites.

Are there many administrative tasks that are behind selling a property?

Kylie Emans: Heaps! Book photographer, write and proof ads, check and send emails, check contracts, check websites etc.

Do you find real estate an enjoyable career?

Kylie Emans: Absolutely, there are lots of ‘highs’ and ‘lows’ but the variety keeps it exciting and you see some amazing properties and meet so many people and a lot become great friends.

 

Kylie Emans is Managing Director of Beach & Bay Realty. She is a Licensed Real Estate Agent & Auctioneer

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Reality Real Estate Part 2

 This is the second part to our reality real estate blog series where Kylie Emans reveals the good, the bad and the ugly in the real estate industry.  To view part 1, please see here.

What is the worst experience you have had during your career in real estate?

 Kylie: I was showing a family of 5 through a very expensive, immaculate house where all the children had moved out and only the parents remained. The master bedroom, the only bedroom in the house being used, had plush, spotless white carpet.

The first child started projectile vomiting on arriving in this room, then the 2nd child. They had the flu and had just eaten yoghurt and orange juice before the inspection. The father picked them up and rushed them onto the deck and the 3rd child followed suit and started throwing up. The mother and I scurried around trying to clean orange vomit off white carpet. The father had to hose down the deck. Dishwashing liquid is amazing for this sort of stain!

Calling the owners to tell them about that inspection is the most dreaded call I have had to make. The owners were very good about it and when they came home they were very impressed with my dishwashing liquid remedy.

Needless to say we got the carpets professionally cleaned and I did sell the house…but not to those clients.

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Reality Real Estate Part 1

Most people think that the life of a real estate agent is glamorous and easy. We recently had a work experience girl here and I think we opened her eyes to what really happens in the day to day life of a real estate agent. That got us thinking maybe we should share some stories with you. Consider this a reality real estate blog series.

Kylie Emans – Licensed Real Estate Agent at Beach & Bay Realty (12 Years experience)

What is the funniest and most embarrassing thing that has happened to you as a real estate agent?

I probably would have to say the time I did an open house at a property that WAS NOT for sale!

I was working part time before I finished my Licensing course so I helped out at an office on weekends doing opens. They gave me the address which was on the corner and it was 1 of 2 townhouses. Basically I put my open house sign out of the one I thought it was and opened up the house and waited for people to turn up. I did think it was rather messy for an open house and I did a bit of tidying up. I had about 6 groups through the house and about 35 minutes into it I noticed a mature couple walking down the driveway with grocery bags and I thought it was a bit weird. Turned out they were the grandparents and they had popped in to see their kids on the way home! They were shocked to see that a complete stranger was standing in the lounge room and even more shocked when I told them how my key opened the front door! While apologising profusely I made a hasty retreat, I have never moved so fast.

Turns out it was the townhouse next door I was supposed to be opening!

Open House Sign

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