Starting With "Why": What Real Estate Means For Us In 10 Words Or Less

From my real estate agent point of view, I am acutely aware that our homes factor significantly into our enjoyment of life. Maybe it makes Evan and I a little unique as real estate agents but the transaction of just getting people to buy and sell real estate is not actually our overriding goal. I have been reading Simon Sinek’s book Start With Why this week … it’s a business book about focusing your message on “Why” you run your business rather than “What” you do or “How” you do it. I could write fairly extensively about how our “Why” relates to helping people … to buy their dream house, to achieve their dream lifestyle, to achieve their financial / real estate goals etc etc etc. (It is the truth that Evan and I definitely do not live up to the real estate agent stereotype of pushing people to buy and sell so as to make us money at all costs. Outside of conflicting with our personal ethics, that would get boring very quickly and be dreadfully unfulfilling).

But Why?

So I have spent the week trying to distil our “Why” down into a simple statement that we could use as a slogan like the one used by the American interior design powerhouse duo that started Studio McGee (if you love interior design and haven’t heard of them look them up) who use the statement “Make Life Beautiful”. Having also read their autobiography this week about how they developed their business, this has really resonated with me. If anyone has any suggestions for a “Why” statement that sums us up we would love to hear them.

Give Us Some Feedback To Win!

In fact, provide us with feedback on anything we do via this link and go in the running to win Studio McGee’s book about interior design The Art Of Home. The winner will be announced next week.

Renovators Are Us

If you do follow Studio McGee, you’ll know they work with a lot of renovation projects and so have we in the last couple of weeks - in particular our featured listing, 80 Marshall Lane. It never ceases to surprise me how diverse buyer responses to these properties can be both in terms of buyer perception about the amount of work and the costs involved. To me a renovator is the perfect opportunity to get a home that is 100% to your taste and make a tidy little margin to boot. When viewing a renovator ask yourself does it more or less provide the layout and location that you want. Then be truly objective about what is needed to make it how you would want it which 9 times out of 10 will be solely cosmetic. Then get some advice from a builder and do research around around costs (ask us for some direction as to where to start). Buyer estimations around renovation costs can vary wildly and usually they are very ill informed.

So if buying your own home is as much about loving life as it is about creating financial wealth, maybe give a little more thought to how a renovator could achieve both for you. In truth, a renovation done well and wisely is a great way to get what you want and build wealth.

Renovators Really ARE Us

And on the subject of renovation and making the home your love work better for you, we started our renovation this week … one week early! An unexpected minor flood from the ensuite to the bedroom carpet meant it was time to start some of the demolition immediately. And we also went for an overdue shopping trip for bathroom fixtures and fittings … who would have known there were so many choices in toilets! My tip for the week when renovating would definitely have to be Pinterest, Pinterest, Pinterest. A clear visual style preference makes it far easier for you to make selection decisions and ensures that those assisting you are on the same page and ultimately that is critical.

What Did I Do Before Pinterest!!!

And if you want to do a small design upgrade to your home this weekend and make your bedroom look like it has been visited by a stylist … bedding is one of the cheapest ways to significantly make over a room. And these recommended pillow combinations that I found on Pinterest will have you decorating like Shea McGee before you know where you are.

In Real Estate News ...

Given that real estate prices continue to rise, it won’t come as any great surprise that average new mortgages are at the highest on record hitting $626,055 in spite of the higher interest rates. Mortgage applications have dropped slightly which some are predicting as an impending slowing in the market but which can equally just be attributed to a natural slowing that occurs in June July due to the colder weather. Equally the hundreds of buyers we have seen in the last fortnight alone would all suggest that competition remains fierce as much as they would all like nothing more than a little bit of a slow down.

In better news for some though, rental vacancy rates have eased across Australia for 4 months in a row from a low of 1.09% to 1.42% in June. Undoubtedly it is still low but increased investor activity in the market hopefully is a sign that life will be getting easier for tenants.

The Ray White Perspective

As always, don’t just take my word for it. As the biggest real estate brand in Australia by far, we have access to an exceptional range of information. Check out the monthly Ray White Now report (linked below) about real estate nationally, the Luxury Report covering Australia's high-end market and a few really interesting reports from our chief economist Nerida Conisbee.

See you next week!