Ain’t no mountain high enough

Ain’t no mountain high enough

Tap, tap, tapping along to the song ‘Ain’t no mountain high enough’… pondering the similarities with the current real estate market! The definition of real estate has changed dramatically over the last few years and today it has gone from being a real estate market, to the financial market. Whilst some have been optimistic that a correction was just around the corner, I believe that the market will continue to climb for at least another eighteen months. The Mosman $dollar$ is an amazing currency that is accepted all over the world, and get ready for an invasion of the new players in the market. Enter the ex-pats, who for the very first time, will really leave their mark on the property market. Why you ask? Simple, the Aussie dollar is climbing back! Whilst many ex-pats were sitting back watching the dollar drop, over recent weeks it has just jumped up eight per cent!! Even the Prime Minister said this week that the economy was going, “going gangbusters”.

We must apologise for those who experienced delays opening up last week’s edition. Over the last two months our page views and subscriber registrations have been phenomenal. The amount of people accessing our site has actually tripled! Such growth is so unprecedented and is something that we never thought would eventuate. When we investigated, we honestly thought it was a glitch in the system, but our ISP confirmed that these figures were correct. This month we are on par to have the same volume of traffic which by all accounts will see us crack the magic 200,000 page reads. After some long meetings with our IT Department, we have decided to upgrade our services. This will allow us to release some new ‘kick butt’ software systems that the market will love, and yes, we own the Intellectual Property. We will be launching another new service soon that will transform the Mosman real estate market and we are sure all our clients will love it. It is called ‘P.S. Confidential’ and if you think what we’re doing now is great, wait till you see the new features of this service. As Big Kev says…”I’m excited!” Because agents and IT clients subscribe, we are keeping the full details of this new service under lock and key. It is quite amazing that a single real estate agency can lead the IT market in this field… it was an ambitious and costly venture when we first embarked, now it is recognised as the success story in the real estate industry.

As each week goes by a new record is achieved and this week the penthouse in The Horizon sold for $10,000,000! This easily exceeded the previous record of $8,000,000. The real estate market seems to have a greater viewing audience than even ‘Big Brother’ which really is saying something! Even the Australian Taxation Office is watching… yep, the ATO is about to launch their own version. It is called the Information Matching System. This is a fancy name which will enable the ATO to cross-check data given by taxpayers to the various government departments. The IMS matches information obtained from employers, financial institutions, private health funds etc. trying to locate those naughty people who understate their tax. No wonder so many are playing the property game… I just love those words ‘Tax Free’!

My favorite “property barometer” (that being clearance rates) hit a record 84 per cent last weekend. It will be most interesting to see how high it will actually go. Whist the clearance rates climb, so do the complaints about agents. This week I witnessed a very well known agent signing someone up for 1% (Inclusive of GST)!! Bob Carr has still done nothing with his legislation, and it was interesting to see this week that the legal profession might beat him to it. With the news that an investor successfully sued his broker because he had engaged in trading that was “reprehensible, unconscionable and deceptive”… Now that sounds familiar! Ah, yes the agents who make a great living with the ‘deceive to receive’. This should send a tingle down their spines, although some would have a very acceptable argument that they don’t have spines! With this decision, it should now be open slather with the real estate industry, especially where the agents have deceived the client by over valuing to get the business. It will only take one court case to change the agents ethos and in all probability would end a career!! Are we worried? Nope because when we sell a home we receive this kind of feedback in the mail…

“Dear Robert, We wanted to express our sincere appreciation to you and your staff at Richardson & Wrench Mosman for the recent sale of our home in Cremorne. We thought you might like to share this with your readers on your Internet site ‘Virtual Realty News’. With the prospect of selling our family home of 15 years, it was important to us to have a leading agency with not only the professional expertise in this market, but also the sensitivity to make the transition of moving homes as easy as possible. We were very fortunate to have found Richardson & Wrench Mosman. Robert Simeon alongside the incredible staff, and his support team of photographers, conveyancers etc, led an amazing campaign of four weeks to a very successful conclusion at Mosman Rowing Club (their new auction venue) on 26 March 2002. It began with his marketing strategy, spanning four weeks of advertising, open and private viewings, and of course a full listing, with photos on ‘Virtual Realty News’. As expected, there were periods during these four weeks when we found the process quite stressful, but Robert in his own inimitable style assured us the correct strategy was to take this sale to auction. He was very clear in his own mind on the value of our home in the present market, and kept us focussed on remaining calm until the finish, when he secured that price at auction, exceeding all our expectations. In conclusion, we would just like to add that the auction night itself, which can be a very daunting experience for both the purchasers and vendors alike, proved to be just the opposite. The Richardson & Wrench approach let everyone bid in their own time without any pressure from the auctioneer, after which everyone was invited to stay on for some legendary R & W hospitality. For all the office, we owe you a debt of gratitude, not only for the sale, but also for your genuine enthusiasm and support. With many thanks, Sincerely The Roberts family.”

Real estate is a wonderful profession and the majority of agents do care what people say about our industry! We cared so much that we set up ‘Virtual Realty News’ and of course, it works. One agent in particular even has his solicitor subscribe to every edition… wink, wink!! ^_^

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