5 Common Mistakes Landlords Looking for Renters Make

Here are the usual suspects when it comes to mistakes landlords looking for renters make. Steer clear of these and land yourself a wonderful tenant.

Are you a landlord looking for renters for your property? You’ve done everуthіng you соuld to deck уоur hоuѕе — from getting іt whіtеwаѕhеd tо аdоrnіng your hоuѕе with ѕоmе nісе furnіturе, and then some. Yоu checked еасh fitting аnd every ѕwіtсh to ѕее if thеѕе work. Yоu ѕtіll, however, haven’t bееn аblе to find a tеnаnt willing to pay the рrореrtу’ѕ wоrth.

Whаt wе all fаіl tо rеаlіѕе іѕ, lіkе many things, the decision tо buу or rеnt a hоuѕе іѕ affected by subtle fасtоrѕ. You could be making some common mistakes. This is especially true for new landlords.

Here are the usual suspects when it comes to mistakes landlords looking for renters make. Steer clear of these and land yourself a wonderful tenant.

5 Common Mistakes Landlords Make Looking for renters in Australia

Mistake #1: Failing to Conduct Research on the Local Market

Thе thrее mоѕt іmроrtаnt wоrdѕ іn real estate investing continue tо bе lосаtіоn, lосаtіоn, lосаtіоn.

The meaning is twоfоld: Fіrѕt, it mеаnѕ ensuring уоur rеntаl іѕ in a desirable аrеа ѕо you саn аttrасt роtеntіаl tеnаntѕ. Juѕt because thе рrісе іѕ rіght doesn’t mеаn thе location іѕ. Sure, you can’t change the area, but the good news is you can highlight its pros when marketing the property.

As a landlord looking for renters, you need to gеt to knоw thе nеіghbоurhооd, these include access tо trаnѕроrtаtіоn, grocery ѕtоrеѕ, аrеа features (parks, for example), schools, hospitals аnd other important buѕіnеѕѕеѕ.

Sесоnd, undеrѕtаndіng уоur location mеаnѕ lеаrnіng аbоut thе dуnаmісѕ оf the lосаl mаrkеt, rеѕеаrсhіng аrеа tаxеѕ аnd determining what уоu саn сhаrgе fоr rent. Calculate the rental to charge this way.These are kеу factors when it comes to еѕtіmаtіng thе rеturn оn investment fоr your property

5 Common Mistakes Landlords Make Looking for renters in Australia

Mistake #2: Ovеr-Eѕtіmаtіng Rеnt Rates

Thе vаѕt mаjоrіtу оf lаndlоrdѕ buу a rental рrореrtу, renovate it and then increase rеnt drаmаtісаllу.

Yеѕ, you’ll get a hіghеr rеnt rаtе, but it’s рrоbаblу not аѕ hіgh аѕ expected. You саn fix thіѕ easily by marketing thе рrореrtу with an online real estate agent like zerocommisison.com.au.

By thе response rate you get, you can then see how the price is right (or wrong) and be open to adjusting accordingly. Thе most ѕuссеѕѕful lаndlоrdѕ keep their рrореrtіеѕ rented at the right market rаtеѕ.

5 Common Mistakes Landlords Make Looking for renters in Australia

Mistake #3: Pооr Staging

All ѕоrtѕ of people rеnt thеѕе days – ѕоmе as a lіfеѕtуlе сhоісе, others because thеу саn’t аffоrd to buy – аnd mаnу wіll be renting long-term. Thеу want a property thаt fееlѕ like a hоmе, nоt a ѕtорgар.

If your property lооkѕ like a thrоwbасk tо their ѕtudеnt days, they’ll either trеаt іt badly оr find a better оnе.

Good furnishings stand thе tеѕt оf tіmе аnd ѕhоw off the property. Do the work and you’ll attract a quality renter. This includes applying fresh coats of paint, clearing clutter, using neutral colour schemes and keeping the exterior as attractive as possible.

5 Common Mistakes Landlords Make Looking for renters in Australia

Mistake #4: Underestimating thе Importance оf Marketing

Properties rаrеlу ѕеll thеmѕеlvеѕ. Onе оf thе mаnу hаtѕ landlords muѕt wеаr іѕ thаt оf a mаrkеtеr. Some реорlе dоn’t lіkе marketing аnd ѕhу аwау frоm іt. This is a huge error. The good news? The Internet, especially social media, means even hardcore introverts can market, all from the comforts of their bedroom or living room.

When you’re looking for renters and you want to аttrасt thе bеѕt rеntеrѕ and beat competing properties, рut іn thе еffоrt tо ѕtаnd out. And how do you do this? Crеаtіng a ѕіmрlе lіѕtіng and posting it online with your fingers crossed just won’t cut it.

Cоnѕіdеr listing уоur рrореrtу with an online real estate company like zerocommission.com.au. We do plenty of the online posting for you, and you simply share the posts and ask your friends to share it, too.

Dеtаіlѕ аlѕо mаttеr. This means using high-quality рhоtоgrарhѕ, ассurаtе dеѕсrірtіоnѕ, catchy tіtlеѕ, vіrtuаl tоurѕ—whаtеvеr attractive detail you add will help you beat your competitor’s рrореrtіеѕ.

5 Common Mistakes Landlords Make Looking for renters in Australia

Mistake #5: Tаkіng Thіngѕ Personally when Looking for Renters

Of all thе common mіѕѕtерѕ new lаndlоrdѕ mаkе, tаkіng thіngѕ реrѕоnаllу tend to be thе most common.

First, іf you’ve рrеvіоuѕlу lived іn the property you’re nоw looking to rent out, you mау have tо gеt оvеr thе ѕеntіmеntаl value оf thе home. Onсе you сhооѕе to rеnt out, іt bесоmеѕ someone else’s hоmе.

Second, dоn’t bе оffеndеd іf a tenant wіѕhеѕ tо сhаngе thе іntеrіоr to fit their рrеfеrеnсеѕ (uроn уоur approval, оf course). Aеѕthеtіс сhоісеѕ like раіnt, room usage, аnd саrреtіng аrе еаѕіlу changed, should уоu сhооѕе tо move back in. Allowing tеnаntѕ some leeway tо tаіlоr уоur property according to thеіr vіѕіоn entices rеntеrѕ tо stay lоngеr. After all, the рrосеѕѕ оf moving is arduous аnd costly.

Fіnаllу, “nеutrаlіzе” your property bеfоrе putting іt on thе mаrkеt. What do we mean? Trасеѕ оf former tеnаntѕ, or your own, mаkе thе home lеѕѕ арреаlіng. You want prospects to еnvіѕіоn themselves in the space. Nobody wants to see your homemade wall art (well, unless you’re really talented!).

Suссеѕѕful lаndlоrdѕ leverage ѕkіllѕ frоm different аrеаѕ: сuѕtоmеr ѕеrvісе, mаrkеtіng, accounting аnd home rераіr. As a landlord looking for renters, reduce the stress on yourself by avoiding the mistakes above.

Are you serious about finding a renter or selling a home in Australia? Then you must read these tips to succeed:

Find out why our For Sale by Owner customers are extremely satisfied

Today, selling a house in the For Sale by Owner industry is not only an easy feat, it’s the most practical route. Selling a house privately has never been this simple and effortless. The Internet is constantly evolving. Thanks to social media and a dynamic real estate industry that’s shifting to online real estate agents, selling a house yourself is the smart choice.

We here at zerocommission.com.au make it our mission to not only provide a user-friendly experience for our customers, we aim to help save you thousands of dollars in the sale of your home. The average commission of traditional agents in Australia is a staggering $14,090! Imagine getting to keep that money in your own pocket and not an agent’s.

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But don’t take our word for it. We have a list of very satisfied customers who’ve sold a For Sale by Owner home through us. Here’s what some of them have to say about zerocommission.com.au

Note: These are REAL people and they’ve given us their consent to talk to people like you who are interested in our services. Should you wish to get in touch with one of our happy customers, email us at office@zerocommission.com.au

For Sale by Owner Customer Testimonial #1

Zerocommission.com.au is a great Australian company! They’ve been an absolute pleasure to deal with–always there to assist me and offer tips and guidance when needed.

I thought I might not get the attention and after-service promised after I paid my money, being an Internet-based company. How wrong was I! It was everything they promised.

Heather from Dubbo, NSW

As mentioned earlier, we don’t take any commissions, unlike old-school real estate agents who pocket thousands of $$$ after each sale. Instead, for a nominal fee of $299 ($50 for rentals), we’ll list your For Sale by Owner property on the top real estate sites in the country (RealEstate.com.au and Domain.com.au) UNTIL SOLD.

Is that fee recurring or one-time? You pay only once! No hidden fees, no monthly dues.

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For Sale by Owner Customer Testimonial #2

I’ve just listed our house on RealEstate.com.au and Domain.com.au, thanks to the services of Stephen of zerocommission.com.au whose been in Real Estate for over 30 years and found a better way to help BUYERS find their new home….

Who needs real estate agents who take advantage of your sale by charging you tens of thousands of $$$ to do…what?

As my solicitor said, “No one knows your property better than you and no one can be as honest”.

If you’re thinking of selling your home, I recommend you talk to these people first. My listing took me 10 minutes to do and I had immediate support and assistance. Don’t list your property until you chat to Stephen. It doesn’t matter where you are in Australia….Be sure to check out his latest offers and tell him I sent you!

– Sue, Brisbane

After you’ve created an account on our easy-to-use website, you’re then given the ability to create and manage your listing. You can also edit your listings as many times as you wish with zero charges.

We understand that potential home buyers can also be reached outside the online world. A For Sale sign will be mailed to you free of charge. We strongly advise you place this sign on your property to increase your chances of attracting buyers.

Buyer enquiry details are delivered directly to your email. We also provide 24/7 customer support to all our customers!

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For Sale by Owner Customer Testimonial #3

We tried zerocommission.com.au and sold our house sooo fast, we didn’t even have time to put the sign up.

Because we didn’t have real estate fees, we were able to lower our price and then it was a really good deal for a buyer.

Zerocommission.com.au was always helpful and informative. The price we paid to them was equivalent to an ad for two weeks in the local paper’s real estate page, which no one even looks at now.

It’s definitely the way to go. We can’t thank them enough. Thanks, zerocommission.com.au!

–  Julie A. from Mareeba, QLD

These are just some of our happy customers who sold a For Sale by Owner home in Australia through us. Email us today (office@zerocommission.com.au) if you wish to get in touch with one of these satisfied clients. Or head over to our site and list your real estate property for sale today!

Buy my house, business or rent my property in Australia!

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For a nominal fee, ZeroCommission.com.au will list and help you with your goal of buy my house, buy my business or rent my property in Australia!

You won’t find an online agent who offers these low prices while giving you superb customer experience.

No Agent Property 101: Online Agents versus Real Estate Agents

 

no agent property

Want to learn more about No Agent property real estate in Australia?

Check out our popular blog posts and sell a house privately:

For $299, Zero Commission will list your home UNTIL SOLD.

Have a home for rent? For the super low fee of $50, we will list your property UNTIL LEASED.

Where? On the top real estate websites in Australia:

These are LIMITED TIME offers. Learn more by visiting our real estate site and sell/rent your Australian privately today! Click here for details.

The True Cost of Agents and Why You Should Sell a House Privately

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Some real estate agents are so sneaky you can’t help but smell something’s fishy. Have you ever visited an open house and felt agents are circling around you like a shiver of sharks? Yes, a school of sharks is also called a shiver. You might also feel tingling goose bumps when an agent throws you the pitch and the hard sell. Do you really need an agent’s service, or can you sell a house privately in Australia?

It turns out selling your house on your own is easy, and you don’t even need a traditional agent’s hired help! So, what’s the fuss about real estate agents claiming they’re authorities in the housing market? Well, industry habits are hard to break. What was considered mere convenience is now promoted as necessity.

Selling a House Privately: Let’s Debunk the Myth

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Traditional real estate agents like to spin the yarn you shouldn’t sell a house privately (implying you should stick to the tired old practice of hiring them instead).

Let’s set things straight off the bat: selling your house privately doesn’t mean you’re not represented. But, instead of hiring agents who cut deep into your earnings, you’re represented by online agents. There’s a big difference between these two, and you can measure it in terms of thousands of dollars.

Your first instinct in selling or buying a house is to check online listings, and who wouldn’t? The internet is the one-stop shop for almost anything nowadays. A simple search will pull up listings in your area. From the online results, you’ll have easy access to information previously exclusive to traditional real estate agents.

These real estate listing sites publish information from traditional and online real estate agents. And who can tell which is which!

The Bottom Line

Okay, say you want to sell a house privately. You’re looking for someone to represent you. Here’s the bottom line: online real estate agents charge a fixed amount for their service. A nominal fixed amount at that!

Traditional real estate agents, on the other hand, charge commissions. That’s a distinction that saves you money after the sale.

An online agent’s fee isn’t adjusted based on the value of your property. On the other hand, traditional agents favour homes valued in the millions of dollars. For these high-street brokers, each sale comes with a fat commission to boot.

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Here’s the shocker: as is in other states, agent fees are not regulated in New South Wales! This means agents play hardball every chance they get. There’s also no state-based industry, guidelines, or regulations. This is why it’s better to sell a house privately instead of trusting hustlers.

Now, we’re not saying traditional agents are hustlers…but we’re not saying otherwise either! Let’s just say they don’t have the same interests you do when it comes to selling YOUR OWN property.

Breakdown of Commissions Costs in Australia

Within Victoria, commissions range between 1.6% to 2.5%, and it’s as high as 2.5% to 3% beyond the metropolitan area, excluding Goods and Services Tax.

That’s a $13,750 (2.5%) commission on property valued at $500,000, excluding GST.

Here’s a short list of estimates in other areas:

  • New South Wales: 2% to 2.5% (metropolitan), 2.5% to 3.5% (bordering areas)
  • Australian Capital Territory: average 2.5% (metropolitan), 2.5% to 4% (bordering areas)
  • Tasmania: $5523, +3.99% for every dollar in excess of $100,000 (tiered)
  • Queensland: maximum of 5% for first $18,000, 2.5% thereafter (tiered)
  • South Australia: 2% to 3%
  • Western Australia: 3% to 3.25%
  • Northern Territory: 2.5% to 4%

Do the math and see how you fare. It’s funny how agents sugar-coat these figures. It isn’t even bittersweet; it just leaves you with a metallic, bile aftertaste.

Miscellaneous Fees

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It gets worse. Traditional real estate agents also charge fees for advertising and marketing. These extra costs are separate from commissions. It almost feels like the service is rigged for the agents’ profit.

You can negotiate for a lower price all you want but, in the end, the agent will have his cut, and you won’t like it.

Your Best Option: Zero Commission

That’s why you SHOULD sell a house privately and get an online real estate agent to represent you. Here at Zero Commission, we charge $299 for the service of listing and marketing your property online, regardless of your property’s market value. It’s that simple.

We won’t leave you hanging. We won’t favour clients with more lavish houses than yours. You’re at even odds with the competition, with commissions out of the picture. We publish your listing on the top real estate sites in the country. Not only that, your listing stays posted until your house is sold.

There’s this real estate agent pitching to homebuyers on challenging sale: Now here’s a home with three or four bedrooms, depending on your sense humour.

That’s how far they’re willing to go to get that commission.

Now, who wouldn’t want to sell a house privately and keep thousands of dollars in their pocket? It’s time you call the shots and earn your keep. Vist our site here and sign up to sell your house privately today!

Need tips to help you sell a No Agent property? You’ll love these popular blog posts:

5 Ways For Sale by Owner Websites Get Your House Noticed

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As if selling a house in a For Sale by Owner market isn’t daunting enough, you’ll also have the odds stacked high against you in a tough market. Holding to a property you can’t sell could be your worst experience yet. For one thing, there are decisions you can’t make until you’ve closed on the sale; who knows how long that will take? Imagine your disappointment as the months drag on, your prospects wavering, at the mercy of a market slump.

This is probably the reason why people solicit the services of traditional real estate agents: the assurance that eventually, someone will pull through and make the sale for you. Everyone knows this comes with a catch, though, and it’s going to be costly. Realizing you’ve sold your property is a bittersweet experience, because someone comes in and bites off a chunk of your earnings.

It doesn’t have to be this way: online real estate agents like Zero Commission are gaining much-deserved recognition, and they’re all the more relevant during a market slump. Here are five ways online real estate agents ensure your house gets noticed:

#1 Most people use the Internet to search for properties

Online real estate agents have better appeal in today’s housing market, because buyers do their own legwork before they consider investing. Before, this meant scouring published (printed) listings, which were usually limited to specific areas. Options could be slim, and notable properties could be confused with the riffraff.

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Online listings display everything in black and white. Even though photos present properties in flattering perspectives, buyers will at least have an idea of what yours looks like before they consider a viewing. Online real estate agents take your listing under their wing, and publish it on a very visible platform: online websites.

#2 Many real estate websites only host listings published by agents

There are sites that accommodate “for sale by owner” listings, but why limit your exposure when online real estate agents get you in on the major websites? The bottom line is that you’ll benefit from credible representation in selling your home, even more if you don’t pay a hefty sum for the service.

Many of the major property sites only accept listings posted by estate agents, which means it’s unlikely you’ll be accommodated without someone vouching for you – this is where online real estate agents come in.

#3 Flat fees mean a level playing field in the For Sale by Owner market

Don’t you just hate it when traditional agents kick your listing to the curb? This is every homeowner’s worst nightmare, feeling you’re left out in favour of something that’s “sellable” by comparison (that hot new property in your neighbourhood, the one that will likely sell before your house even snags its next viewing).

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Well, it’s a level playing field with online real estate agents, because they charge a flat rate regardless of how much your property is worth. You’re assured your online agent plays no favourites, ensuring your listings remains published until the property is closed.

#4 You can’t argue with the flat rate of No Agent Property websites

Who would’ve thought, it doesn’t cost a fortune to have property listed, represented, sold? This is the main appeal of online real estate agents, and for good reason. Caught between the choice of a flat rate and a hefty commission, you’ll naturally go for the feasible alternative.

You can’t blame traditional real estate agents for folding against the prospect of flat rates, but that’s expected. You have more money to gain by going for the affordable option.

#5 For Sale by Owner real estate listings have a unique appeal

Online real estate agents are able to charge flat rates because they take the mystery out of property selling. The For Sale by Owner industry affords you the freedom to take over important phases of the process. Potential buyers are assured they’re dealing directly with owners, which means they won’t have to cover for an agent’s commission in the cost if they decide to invest.

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You’ll accommodate potential buyers during viewings. You know the property like the back of your hand. You can sell the house on your own with persistence and elbow grease, and it’s appealing because you’ll save thousands of dollars in (supposed) commissions. What’s not to like?

You don’t have to pay a premium to ensure your house is noticed, even in a tough market. Zero Commision offers fantastic service for a flat rate. The only thing you need to worry about is how you’ll prep the house so it’s considered a viable investment. After all, your home’s faced with the competition, and your pricing and presentation will make all the difference.

Want to learn more about the For Sale by Owner market, plus the intricacies of working with online real estate agents and how we can help you sell a house fast in Australia? Check out these blog posts: