Wednesday, November 27, 2013

The small things do count.

Toop&Toop are in the business of helping investors achieve a good return and we want our tenants to enjoy a good moving and living experience. With over $1billion in residential property under our management, we house a lot of people every week.

Our job is to make things as smooth as possible for both the landlord and tenant. However, occasionally things go wrong… and it matters! For the tenant, it's that broken tap, or stove not working as it should. Things that could easily be seen as trivial concerns, does in fact impact on the tenant's living experience and may be the source of something bigger for the landlord.  As a landlord, you may also be exposed to a tenant who is behind in their rent or receive a phone call about a burst hot water system that you weren't expecting.

Residential property management is a far cry from commercial—with the only real similarity being bricks and mortar.

From my time with AMP Capital in Sydney, commercial real estate was about negotiating the best deal and reducing vacancy risk for clients. With the big clients, the rent is paid every month in advance like clockwork and lease breaks are virtually unheard of. Lease terms are upwards of three years and the tenants are usually responsible for any general maintenance during the term of the lease with a 'make good' as a key requirement at the end. Commercial spaces are used during work hours and the emotional connection, like you see in residential, is rare.

By contrast in residential, tenants 'come home' to the properties we manage and there is generally a sense of pride and ownership in the home, despite all the sensational stories in the media. It's their home, their sanctuary… so the stakes are high. Tenants want things to work, and we get it. Over the span of Toop&Toop's 28 years, we have developed a trusted group of suppliers to provide a quick, competitive and reliable service to our clients. We have Preferred and Approved supplier agreements in place that require KPIs to be met, including timeframes for completion and guarantee of work—ultimately helping both our landlords and tenants.

So why would we be in this emotional game? Because, we genuinely love what we do! We enjoy working with people in their day-to-day lives and helping solve problems for both landlords and tenants.

We understand that being a landlord can often be an emotional ride and that in life things don't always go to plan. We're here to give you piece of mind and help get you the best outcome we can when the unexpected happens. But we're only human. We are not professing to have a magic wand, but we are set up with key initiatives in place to provide industry best service, minimise risk and create great investment experiences.

If you are keen to find out more about our team and what we offer, please give me a call on 0413 594 285. At Toop&Toop, we know the little things do count.

Regards,
Suzannah Toop


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Wednesday, November 20, 2013

Addicted.


There must be an easier way to make a living!

Real estate looks so glamorous to outsiders, but the pressure of long hours, the constant rejection and intensely competitive daily grind can take its toll.

Despite all of this, I love it. I have asked myself often: "why do I keep doing this?" The answer is, because I'm addicted. It is in my blood and quite frankly, it's like a drug. The adrenaline rush, the highs and the lows, the good, the bad and the ugly—I can't get enough of it and have been hooked for decades.

You meet so many different people in real estate, in all sorts of situations—some very colourful. Agents get close to people's emotions, which can be challenging at times, yet rewarding at other times.

Property management and sales are both areas of real estate with similar demands; both deal with people from different walks of life, all just doing their thing.

Real estate is never dull or boring and each day literally flies, as the pressure to perform can be intense and incredibly stressful, yet personally fulfilling.

Clients, tenants, community and legal demands these days are often unrealistic, yet we go about our daily tasks of housing people amid their changing needs.

So, who works in this crazy industry?

People like me. People who question: "why am I doing this for a job?" The pay is ordinary, the demands are ridiculous, the hours are long, responsibilities increase daily and it can be really stressful. But it is addictive.

Do you want all of the above?

Give us a call - we are expanding. With another new office building almost complete, we need more property management staff, more sales staff and we will also need more administration staff - there are opportunities everywhere. With Toop&Toop it's a career, not a job.

If you aspire to be the best in the nation in this mad, crazy, yet addictive business of real estate, here is your chance. Be part of the best and most highly awarded real estate agency in the country. And if you're already in the industry, you haven't seen anything like Toop&Toop; so it will be a whole new experience for you too, but you must want to work with the best in the industry.

Call me (0418 824 188), Genevieve (0418 824 178) or Suzannah (0413 594 285), or better still, email me (anthony.toop@toop.com.au) and I'll get the right person to call you.

Get addicted... it's a way of life.

Regards,
Anthony Toop


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Wednesday, November 13, 2013

Property is running HOT… but for how long?

There is no doubt that the property market is running hot across Australia. The market conditions right now are the best we have seen in years—conditions we may not see again for some time! For example, at Toop&Toop in October, we had one of our best months in sales for years; we have listed and sold a phenomenal amount of quality properties.

This trend seems to be appearing Australia-wide. According to an article in the Financial Review on Monday, November is shaping up to be the strongest property month on record for Sydney, where they are expecting in excess of $3 billion in sales!

The buzz around property is hard to ignore and everyone is looking to property once again. Investors are getting back into the market in droves, those with property are looking to up-size using the equity of their existing properties and as a result, first home buyers are struggling to get into the market because of this increase in competition.

Over the recent weeks we have talked a lot about the benefits of this market for buyers—there is no doubt that this is a great market to buy in, but what about those wanting to sell? 

We are finding that sellers want to know if they should be taking advantage of this market, and also if it's too late to do something before Christmas?

The great news is—for those wanting or needing to sell—now is the perfect time! There are still 3 weeks left before Christmas to list a property and 6 more selling weeks of the year. The demand for property right now is strong, and if you need to sell, right now is a perfect time.

So how long will the market be hot? It is always hard to judge. We are starting to hear some stories surface around uncertainty in the New Year. Dr Andrew Wilson from Australian Property Monitors has mentioned that he did not think this current momentum would be sustained into the New Year. "Unemployment is trending up towards 6 per cent so we expect a moderation in activity." Just this week we are hearing the government talking about the Federal budget being worse than originally thought and these factors could have the potential to impact the property market in the New Year.

One thing is for sure—you can never predict the future. Right now the property market is in full swing, there is a strong demand for property and finance conditions for buyers are the best we have seen. The momentum in the market is here right now and if you want to sell in 2013, it's not too late. 

Give us a call and we can put the backing of Toop&Toop behind you to take advantage of this market and help you achieve a premium price for your property.

Regards,
Genevieve Toop


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Thursday, November 07, 2013

Everybody's talking about it…but now is the time to make a move!

Often there is a lot of talk about purchasing property and not a lot of action. I'm as guilty of this as anyone. I've been looking for my second investment property since September and I'm certain now is the time to get involved, provided you buy well—yet I'm still shopping around.

With an 80% auction clearance rate last week, we knocked Sydney off the top of the list for the first time in more than six months—and in turn achieved the highest clearance rate in the nation! Adelaide's average time on market for houses has decreased by 11% since September alone. Looking at the current real estate cycle, according to Australian Property Monitors (APM), Adelaide has come off the bottom and is in the Recovery phase. Sydney is charging ahead with double digit growth and is well into the Expansion stage.



What does this all mean? It means that Adelaide is the box seat for investors or purchasers who are seeking capital growth—now is the time to act!

Not only are the residential stats telling us things are ticking over well, the lenders are fighting for market share. This is a tell-tale sign that the market is active and everyone wants a piece of it.

The battle for lenders has escalated since the start of spring according to brokers, banks and market observers…even the 'Big 4' are being aggressive. Wealth Management companies across Australia have noticed that the level of discounting has increased with up to 100 basis points being knocked off the borrowing rate.

What type of savings does a 1.0% discount pass on? With a $500,000 loan size you would reduce payments by $3,540 a year and $88,500 over 25 years. This is no small drop in the ocean.

RP Data's latest report shows that Adelaide's mortgage activity is growing steadily month-on-month and is significantly higher than what we saw back in August. This is consistent with the feedback from lenders in the market.

After chatting with CommSec's Savanth Sebastian last week about consumer sentiment and his thoughts on the current market, theory and gut feel are telling me it's time to get serious about purchasing.

The signs are saying now is the time to jump in and negotiate hard on home loans, particularly if you are taking out a substantial mortgage or are dealing with the smaller lenders. Be strategic and talk to a number of lenders to find out what the best rates out there are. Often seeing a mortgage broker is the simplest way to go as they are in the game and know what deals are around.

Since September, I've changed gear and am taking a piece of my own advice. I have booked an appointment with my mortgage broker this week…I'm hoping to make the most of these lending conditions and know with Adelaide's steady long term market growth, getting involved is better than sitting on the sidelines. It's time to make the jump!

Regards,
Suzannah Toop


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