The latest happenings in the Melbourne property market. For our Essays and The Secret Agent Report, see our Research page.

Category Archives For: Random Thoughts has recently changed their website. They are certainly the major player in Australia in terms of property search.

They are really moving into a social direction in terms of users being able to see street reviews and comments from people that may have lived in the area previously.

But what is really interesting is the ‘people also viewed’ section, which displays on each listing you click on. It really gives you an insight into what the competition (other buyers) are showing interest in or are viewing.

Now we are not talking about a great latte review where the supply is infinite, this is one listing where only one bidder can be the eventual purchaser.

By searching for the right property for you, are you putting yourself at a disadvantage my helping others to see your choices?

Now I know this is being done on a massive scale, but it’s just a thought as I’m sure these will become more and more local as well as targeted in the future.

The power of feedback


Here’s the power of feedback. As an agent in Real Estate, feedback was only received if you asked. Now, it’s everywhere.

Here’s a review of an agency in Northcote. They gave the agency 3.5 star.

But here’s the thing, in the comments, apparently the agent failed to collect a deposit from the purchaser. This is a big no no from selling agents.

Being careful with client personal details

I was helping a client with a real estate transaction, dealing with a major brand last week.

She was given a collection notice (Privacy Act) to sign. One of the points was: ‘From time to time (the company) may share my personal information with partner businesses offering complimentary products or services that we believe may be of interest to you’.

She was uncomfortable signing this. She didn’t in fact. This I feel is where things are changing. The whole opt in and opt out of offering things to consumers is a little backwards. This really just annoys people and doesn’t aid potential future partnerships with that person.

These should really be opt in rather than hiding these finer points into documents that are hard to spot. Some of the bigger brands just don’t seem to understand this.

The wide angle lens

It’s one of the great frustrations that many newbie property buyers will experience. The wide angle lens can certainly deceive and disappoint.

So remember to train your eyes to think a ‘little smaller’ on some of those photos….

Heat and inspections

Great day to inspect property as I've stated before. A hot day will give you a good feel for the way a property adapts to the heat. 

Even better after 3 hot days in a row, although almost everything is not immune. If it's still cool, then that's some feat!
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Moving closer to years end

The closer we've moved to Christmas, the more and more I've seen listings that represent great value. 

When desperation kicks in, buyers are paying too much. But it works the other way too. Vendors wanting to sell before the end of the year, are having to take offers that they wouldn't have taken a few weeks ago.
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Some reflective thoughts

Over the past week I had the opportunity to meet with some high end banking executives from some of the biggest banks in Australia.

We've had some fascinating conversations and many seemed to have a similar feeling about property prices over the next 5 years.

Many felt that Melbourne's inner ring would become simply unaffordable. That most every day people have a 5 year window of opportunity before its simply out of reach.

This was consistently the feeling and an interesting conversation from the people that have an inside knowledge of the supply of money.

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