Buying
Investor
5 ideas to get ahead in the property market
28-Oct-2022
Thinking about how to beat the competition this spring? One of the best ways to get ahead in the property market is to brush up on your knowledge!
Here's five ideas for how to get ahead of the game.
1. Set clear goals
Do you want to buy a property to increase in value and power you to your next home purchase? Are you thinking of building a property investment portfolio? Or do you want to find ways to maximise your lifestyle through property.
Joe Khougaz of Seek Invest Grow says it's important to know what you hope to achieve through property. Once you have a clear understanding of where you want to end up, you can start planning your financials and identifying what
“Whether it's cash flow, building equity, or owning your dream home — having very clear goals makes it easier for you to make and stick to an investment plan,” Khougaz says.
2. Do your research
In property, it often comes down to crunching the numbers. If you're looking to get ahead, doing you research is a key step.
Angus Moore, economist at realestate.com.au, recommends one of the best ways to keep on top of the game is with REA’s data and insights tool, PropTrack.
“PropTrack’s regular market reports and commentary can help advance your understanding of important trends and changes, to stay on top of conditions, policies and developments affecting property markets right around the country,” Moore says.
Moore says the tool also provides a wealth of city, region and suburb specific data that can provide a detailed understanding of conditions in your area.
There's also a wealth of market insights from PropTrack economists available, plus handy suburb level data to explore on realestate.com.au.
3. Get to know your local agent
Property isn't just about knowing the contours of broader trends, it's about getting to intimately know the ins and outs of the location.
One of the best ways to get a grasp of the market in your area is by having a chat with a local agent.
A quality real estate agent is engaged in their local market every day and knows not only what reasonable market values are, but how many interested buyers are in the market and who they are.
If you're thinking of putting your property on the market, they can help reach prospective buyers and maximise your selling price. If you're on the hunt for a new property, then can suggest properties that might fit you criteria and even give you the inside track on what properties are yet to officially hit the market.
4. Do the legwork
If you really want to get ahead in the property market, Brendan Clark of The Property Curator suggests getting stuck in and visiting as many homes as possible.
This will help not only give you a good understanding of what properties are selling for, but a sense of what attributes are most important to you.
“Attend as many open homes as you possibly, take informative notes and track sales results using a program like Excel or Airtable,” Clark advises.
5. Take a real estate course
If you’re really serious about getting ahead in the property market, why not enrol in an accredited course?
Ryan Keys, Director of Entry Education, taking a property course is one of the best paths to furthering your goals.
“We have people joining our programs for all sorts of reasons, from gaining extra knowledge of the property industry through to wanting to learn about the sales and leasing process,” Keys says.
“Others work in a fringe industry, like building or finance and want to be able to provide more information on the process for clients. Some simply have a passion property!”
With fully accredited real estate courses available in every Australian state, Entry Education's real estate courses provide a comprehensive 360-degree view of the industry.
All courses are self-paced with after-hours support. Plus, you have the support of your own online tutor throughout the course.
For example, if you are in Victoria, you will be looking into a Certificate IV in Real Estate Practice, that really motivated students have completed in three to four weeks. Or do a quick three day workshop and get it done quicker.
Who knows, it may even inspire a new career path in real estate (for that, you can visit realestatecareers.jobs — a job seek platform for the real estate industry in Australia).
SOURCE: Realestate.com.au
IMAGE: Newton Real Estate
Here's five ideas for how to get ahead of the game.
1. Set clear goals
Do you want to buy a property to increase in value and power you to your next home purchase? Are you thinking of building a property investment portfolio? Or do you want to find ways to maximise your lifestyle through property.
Joe Khougaz of Seek Invest Grow says it's important to know what you hope to achieve through property. Once you have a clear understanding of where you want to end up, you can start planning your financials and identifying what
“Whether it's cash flow, building equity, or owning your dream home — having very clear goals makes it easier for you to make and stick to an investment plan,” Khougaz says.
2. Do your research
In property, it often comes down to crunching the numbers. If you're looking to get ahead, doing you research is a key step.
Angus Moore, economist at realestate.com.au, recommends one of the best ways to keep on top of the game is with REA’s data and insights tool, PropTrack.
“PropTrack’s regular market reports and commentary can help advance your understanding of important trends and changes, to stay on top of conditions, policies and developments affecting property markets right around the country,” Moore says.
Moore says the tool also provides a wealth of city, region and suburb specific data that can provide a detailed understanding of conditions in your area.
There's also a wealth of market insights from PropTrack economists available, plus handy suburb level data to explore on realestate.com.au.
3. Get to know your local agent
Property isn't just about knowing the contours of broader trends, it's about getting to intimately know the ins and outs of the location.
One of the best ways to get a grasp of the market in your area is by having a chat with a local agent.
A quality real estate agent is engaged in their local market every day and knows not only what reasonable market values are, but how many interested buyers are in the market and who they are.
If you're thinking of putting your property on the market, they can help reach prospective buyers and maximise your selling price. If you're on the hunt for a new property, then can suggest properties that might fit you criteria and even give you the inside track on what properties are yet to officially hit the market.
4. Do the legwork
If you really want to get ahead in the property market, Brendan Clark of The Property Curator suggests getting stuck in and visiting as many homes as possible.
This will help not only give you a good understanding of what properties are selling for, but a sense of what attributes are most important to you.
“Attend as many open homes as you possibly, take informative notes and track sales results using a program like Excel or Airtable,” Clark advises.
5. Take a real estate course
If you’re really serious about getting ahead in the property market, why not enrol in an accredited course?
Ryan Keys, Director of Entry Education, taking a property course is one of the best paths to furthering your goals.
“We have people joining our programs for all sorts of reasons, from gaining extra knowledge of the property industry through to wanting to learn about the sales and leasing process,” Keys says.
“Others work in a fringe industry, like building or finance and want to be able to provide more information on the process for clients. Some simply have a passion property!”
With fully accredited real estate courses available in every Australian state, Entry Education's real estate courses provide a comprehensive 360-degree view of the industry.
All courses are self-paced with after-hours support. Plus, you have the support of your own online tutor throughout the course.
For example, if you are in Victoria, you will be looking into a Certificate IV in Real Estate Practice, that really motivated students have completed in three to four weeks. Or do a quick three day workshop and get it done quicker.
Who knows, it may even inspire a new career path in real estate (for that, you can visit realestatecareers.jobs — a job seek platform for the real estate industry in Australia).
SOURCE: Realestate.com.au
IMAGE: Newton Real Estate