Date  20’th July 2020
Property Address 18 Rogers Street Highbury SA 5089
Title Details  CT 5373/ 461
Mortgagee’s Name (Lender)  Unknown
Mortgagor’s Name/s Adelaide Benevolent Society
Prepared By  Eriks Draiska
Real Estate Agent License Number  RLA 237921
Real Estate Agent License Expiry Date  30’th September 2021
Office Address: 10 Kimberley Avenue, Modbury North SA 5092
ABN: 70149986630
Phone: 08 8396 1100
Fax: 08 8396 3589
Mobile: 0418804900
Email: [email protected]
Contents * The Property
* Opinion
* Requested Commission and Marketing Budget
* Professional Indemnity Insurance / Certificate of Currency
* OTHER Information

1. Property Description

Land Description including Size & Zoning

The 1973-built single storey house is a High-Quality Ranch Style. It is ~167 Sqm in size of brick/ veneer construction. It has a block size of 619 Sqm with an enclosed backyard and front yard bordered with a fence to the street. It has 4 bedrooms, 2 bathrooms and 2 living areas. There is parking for 1 vehicle in the carport UMR. There is also a toolshed. It is Zoned Residential in the City of Tea Tree Gully.

Comprehensive Description of Improvements

The property is in reasonable condition. The bedrooms are of a fair size with built-in robes. There are some paint blemishes and some minor cracks in the gyprock. Strengths: The property is atypical of 3 and 4 bedroom houses in the area. Weaknesses: The home is in need of being updated.

Read More in Sample Editorial – 18Rogers.IsHomeNow.com Opens in Separate Tab.

Planning Issues

There are no known planning issues for this property.

Local Area Information

The size of Highbury is approximately 8.1 square kilometres.
It has 22 parks covering nearly 14.8% of total area.
The population of Highbury in 2011 was 6,647 people.
By 2016 the population was 6,574 showing a population decline of 1.1% in the area during that time.
The predominant age group in Highbury is 40-49 years.
Households in Highbury are primarily couples with children and are likely to be repaying $1800 – $2399 per month on mortgage repayments.
In general, people in Highbury work in a professional occupation.
In 2011, 87.4% of the homes in Highbury were owner-occupied compared with 86.1% in 2016.
Currently, the median sales price of houses in the area is $500,000.

Highbury is divided by Lower North East Road and homes on the other (Southern) side tend to sell for a higher price than those on the Northern side.

Median Pricing in Highbury

2. Opinion

General Marketplace Overview

Whilst there has been some softening of the market during this Covid-19 situation, properties that are presented well and priced correctly are still selling. There are fewer properties on the market than usual, so buyers have less to choose from. Normally that would tend towards a Seller’s market, however, this is not the case as buyers are very choosy in what they will offer for.

So it is important to prepare this property to appeal to as many serious buyers as possible to increase competition to get the maximum price.

Degree of Demand for Property

This area has a mix of Household Types. Couple with children makes up 47.1% of Households, whereas Lone households and Childless couples make up 40.4%. The rest is made up of Single parent 12% and Other. Of the total property mix, the Ownership mix is almost 12: 86 between ‘Renters’ and those who ‘Own outright’ or are ‘Purchasing’.
Why is this important?
Because Private Rental is very small with a percentage being Government Housing. That being said, whilst Investors and Developers form a much smaller part of the buying demographic an opportunity to buy in this situation does not present itself very often.
It is also increasingly difficult to find a 4-bedroom home on a block of a decent size for those who have a family.
We believe it will appeal to families with younger and teenage children.

Target Market

The likely purchaser will be First or Second Homebuyers. Many of these purchasers will likely require a Subject to Sale and/ or Subject to Finance clause.

Comparable Sales and Analysis of Same

Address of Property Sale Date Build Size Beds No’s Bath No’s Park No’s Land Size Year Built Price
$
SUBJECT PROPERTY COMPARISON 167 4 2 1 619 1973
18A Rogers Street, Highbury 24/04/20 155 4 1 3 731 1973 $410,000
885 Lower North East Road, Dernancourt 10/03/20 182 4 2 3 768 1973 $411,000
31 Beckman Avenue, Highbury 04/10/19 156 4 2 1 1133 1975 $425,000
10 Alister Street, Highbury 08/03/19 160 4 2 2 597 1976 $444,000
53 Beckman Avenue, Highbury 23/05/19 141 4 1 2 629 1976 $455,000

Recommended Method of Sale

We, recommend a Private Treaty Marketing & Sales program as most buyers will likely require ‘Subject-to’ conditions of purchase.

However, if Auction is preferred we work with an Award Winning Auctioneer and Accredited-Trainer.

Absolutely Essential Repairs and Maintenance

Repair light switch to main bedroom and check remainder as the Electrician will be alreadyon site. Garden areas tidied up and outdoor paths cleaned..

Non Essential Repairs and Works

The property whilst technically appealing as a 4 Bedroom, 2 Bathroom home lacks buyer appeal.

It appears recently painted, clean and tidy but has absolutely no ‘Wow’ factor.

I recommend a budget-minded make-over as the purchasers paid top dollar for it in 2016 and it has less appeal now as compared to back then.

Works include:

Cut off timbers at eaves, cover and make good the ends
Repaint the bathroom, laundry and toilet tiles to a consistent colour
Repaint the interior rooms and exterior timbers to a modern appealing colour scheme throughout to match the flooring and tiles
Hire furniture and Hom-Stage the interior to style out the property.

Approximate cost would be $10,000 – $12,000.

This would transform the home into something much more desirable to buyers whilst still allowing for their personal tastes to be added later.

Safety or Security Issues

There are no obvious or known safety issues at this property.

Appraisal Range (As Is)

Given the state of the market and presentation of the property, we would estimate a buyer would consider a Residential Property Investment range from $410,000 to $430,000

Appraisal Range (As If Complete)

$430,000 to $460,000

Appraisal Figure

Our Appraisal Figure is $435,000

Additional Sales information from RP Data computer-generated Automated Valuation Report indicates a Low of $403,000 High of $492,000 It has an Estimated Valuation of $445,000 which appears high given state of the property and current market conditions. The property was purchased in December 2016 for $420,011.

For Private Treaty we recommend a 10% Price Range proposal of $400,000 to $440,000 to encourage negotiation, ensuring buyers make multiple offers sooner, therefore working buyers against each other. If a Single Fixed Price is required we recommend an asking price be set at say $439,950.

3. Requested Commission & Marketing Schedule – GST Inclusive

Our Professional Fee for service is 2.2% of selling price. Advertising and associated marketing costs for preparations and open inspections is priced at $2495
If Auction preferred – Auctioneers cost is $660 – Our Auctioneer is a State and National Title Holder.

** View SAMPLE Website Here for 18 Rogers Street, Highbury18Rogers.IsHomeNow.com

Marketing and Advertising Schedule

Item Costs Include GST
For Sale Signboard: 6’ x 4’ with Colour Photographs and Text $275
Brochures Full Colour $235
Professional Photography and Magazine Quality Digital Enhancements $275
Coloured Floor Plan, Site Plan $125
Internet:  HIGHGLIGHT RealEstate.com.au. Domain.com.au Property.com.au $1275
360° VR Property Tour with Agent Chat Option $275
Editorial and Adverts by Copywriter $265
Facebook Ads, Facebook Posts, Gumtree Ads, Craigslist Ads, Text, SMS Marketing, Direct Mail, Printed Letterbox Droppers, Telemarketing, Blog Posts, eFlyers, QR Code $475
Individual Property Website, Domain Name, Virtual Tour, Inspection App, Vanity URL $475
Sub Total for Private Treaty $3675
Independent Award Winning Auctioneer $660
Sub Total  for Auction $4335
Newspaper – Private Treaty Campaign and/ or Auction
Week 1 The Advertiser Saturday Classified Advert $100
Week 2 The Advertiser Saturday Classified Advert $100
Week 3 The Advertiser Saturday Classified Advert $100
Week 4 The Advertiser Saturday Classified Advert $100
Window Card No Charge
Editorial Submitted to The Advertiser, Sunday Mail and Local Paper No Charge
Auction on the day – where applicable No Charge
Property  Open for Inspection and Private Viewings No Charge
TOTAL VALUE OF PRIVATE TREATY CAMPAIGN (is $3800)  Contribution $2495
TOTAL VALUE OF AUCTION CAMPAIGN (is $4460) Contribution $3155

How Are Buyers Followed Up?

All Buyers Details are Collected at Opens & Inspections, Then, They’re Followed Up by:
An Email within 5 Minutes, followed by a Series of Engaging Emails after this
2 SMS/ Text Messages the 1’st is sent within an hour
2 Voicemails the 1’st is sent the following day

The Systems are Automated, SO, it Happens Each & Every Time & No-one is Overlooked.

4. Current Professional Indemnity Insurance Certificate

5. OTHER

Inventory

There is none.

Do you think we should advertise as Mortgagee in Possession and Why?

Generally, we have not done so with Mortgagee, Trustee, Executor or Deceased Estate sales and only disclose the fact to purchasers on a need to know basis. However, the inquiry rate will certainly increase. It has on other properties we have marketed and made it publicly known that it is a Mortgagee Sale. From our perspective, either would suit us.

Marketing Strategies

In South Australia, there are 3 allowable ways of advertising price

  1. No Price
  2. Fixed Price or
  3. Price Range of up to 10%.

The method most often used is Private Treaty accounting for 90-95% of sales. Auction accounts for 5-10% of sales and currently averages a Conversion Rate of around 65% ±  for Pre-Auction Sales and At the fall of the hammer. However, when considering post-auction sales this improves significantly.

Our Sales success rate of Mortgagee and Trustee Sales is ~100%.

Your Method of Sale Options – 9 Types of Sale

  • For Sale by Private Treaty
  • Auction
  • Set Sale – Read more here.
  • Tender
  • Expressions of Interest
  • Price on Application (POA)
  • Low-Key – Read more here.
  • Partner Program – Read more here.

How Do We Get Top Dollar Sales?

Great Marketing leads to more views, higher interest & engagements, more enquiries from competing buyers leading to more inspections, therefore, stronger negotiations which mean a greater perceived value.

We Market the Property to SELL Not just Advertise it for Sale.

Our Marketing Will Put The Property in The Spotlight so it Becomes The Star Attraction.

Where Does the Marketing Budget Go?

1) ** Check out the Comprehensive Marketing Machine here. **

2) Please, Refer to SAMPLE Marketing Pieces Further Below.

What is More Valuable to You? “The Risk Over-Marketing or the Risk of Under-Selling and Losing Tens of Thousands of Dollars?”

Why is This Important?

Because the Internet Allows Buyers to Eliminate as Many Homes as Possible Before They…

  • actually, get into their car
  • to look around the community
  • drive through the neighbourhood
  • before they examine your street
  • then consider the outside, before
  • they step inside to inspect your house

As any of these can be a show stopper! It’s imperative that Online & Offline Marketing, especially the Photographs & Your Property Presentation meets their expectations.

Your Property HAS To Be On Their Shopping List, So…

FIRST – We Need to Make Sure, They TURN Up!

THEN – We Make Sure, They Are FOLLOWED Up!

Please, Refer to SAMPLE Marketing Pieces Further Below.

As Your Agent, Because, We Are On Your Side – You Can Rely On Us To Be

  • Your Trusted Consultants
  • Your Skilled Negotiators and…
  • The People Who Oversee ALL of Your Transaction Details

How Do We Communicate with You?

Our team reports comprehensively to existing clients by phone, SMS text, email, post, Skype and face-to-face meetings during the sales and marketing period. We can tailor our existing methodology and technology to meet your preferred format and requirements. We produce a very comprehensive Weekly Marketing Report giving you comprehensive feedback on the property so you are aware of what is happening every step of the way so timely and informed decisions can be made. Please let us know how we can be of further assistance regarding the successful sale of this property.

Other Considerations – Safety Issues

There are no known situations that would provide a conflict of interest. There appear to be no obvious safety issues. Check for Smoke Alarms  Check for Regulated & Significant Trees? Check Swimming Pools are Adequately Fenced Frequently Asked Questions Reviews & Testimonials About Eriks & Family About Plaza Real Estate Our Home Selling System Overview Your ‘Peace of Mind’ Guarantee of Sale Glossary of Terms Abbreviations Forms & Fact Sheets Links of Interest

Additional Services Available

  • Land Subdivision or Survey
  • Retirement Living
  • Estate Services or Deceased Estates
  • Sales involving Separation or Divorce
  • Mortgagee Sale or pending ‘Foreclosure’ action
  • Retirement Living
  • Business, Commercial or Industrial Sales
  • Surveyor, Engineer or Architect
  • Conveyancer or Solicitor
  • Finance or Insurance Services
  • Getting Your Home or Investment, Ready to Sell
  • Interior Designer, Landscaper or Gardener
  • Building services, Plumbing, Painting or Electrical

Want Proof?

Read our Client Reviews. Sample Market Campaign Reports Show How Successful The Marketing Machine Actually is. This is an opinion of market value and is not a sworn valuation. The report and market appraisal are for the use of the party who it is addressed to and for no other purpose. No responsibility is accepted to any third party who may use or rely on the whole or any part of the content of this report and market appraisal.

Marketing Examples –

  • Text/ SMS: If you have not done this yet-Check it out nowHOUSES to 0488 844 200
  • QR Code: Scan with a Smartphone to open link to the property
  • Also on Facebook
  • Other: Buyers receive – ‘Thank You’ email with Links to Property details and are encouraged to make an offer.
  • Plaza Real Estate Stocklist: www.PlazaProperty.com.au

Call 08 83961100 if you have any questions and we look forward to working with you.