Earlier this month, the Reserve Bank of Australia (RBA) announced the nation's official cash rate would be dropped again, and is now resting at the historic low of 2.25 per cent. Housing Industry Association chief economist Harley Dale pointed out that the decision was made to help give the economy more chance to grow – although the current level of new housing construction is nevertheless impressive nationwide.
But one thing to keep in mind about the dropping of the official cash rate is the effect this is anticipated to have on credit products. As these savings get passed along to banks, more often than not consumers will see interest rates on products like credit cards and home loans fall at the same time. This could be worth keeping in mind, especially if you're hoping to sell your luxury property in Surfers Paradise.
This is simply because as more people are able to afford mortgages and pursue their own property goals, there could be an increase in buyer demand in the local community. And the more people you have interested in buying your home, the more chances you have of securing a great, competitive return on your initial investment.
The importance of making a great marketing campaign for your home with your real estate agent is one of the most important elements of a profitable property sale. A well put together campaign is likely to attract a lot of attention, getting more people through the door for open inspections and – hopefully – boost the number of people at your auction, or putting in offers in a private sale.
In this day and age, one of the most popular mediums that real estate agents use will be the Internet. Earlier this year, a survey conducted by Slater & Gordon Conveyancing Works found that 58.5 per cent of respondents would use the Internet as the first place to search for a new home. Furthermore, Queenslanders were the most likely to consider online house hunting – something to keep in in mind when marketing your real estate in Surfers Paradise.
Slater and Gordon Conveyancing Works lawyer Robert Kern said that the results weren't surprising, especially with the lack of spare time that people have these days.
"Real estate websites are becoming increasingly sophisticated, allowing people to highly define what they're looking for in terms of price, location and amenities, it means they don't have to sift through lots of unwanted stuff to find exactly what they want," said Mr Kern in a 23 January statement.
"The research certainly suggests that any decision by companies to invest in and expand their presence online is the right one."
When it comes to marketing online, ensuring your agent has a good grasp on writing descriptions that sell the home is essential. But photographs are an even more important factor into consider when selling your home. In the book 'No-Nonsense Guide to Buying and Selling Property', author Andrew Winters says poor quality photos are simply a waste of time.
He suggests investing in professional photography to really help your home 'pop', especially on a page of listings with a variety of different properties. Their expertise will help make your house look as appealing possible – which, when combined with a great blurb, can be more than enough to encourage people to attend your open homes.
Be sure to utilise the internet to it's fullest extent when marketing your home. You'll be able to reach a lot of people and boost the overall interest in your Surfers Paradise property.