Like most real estate agents, you have probably never studied finance, commerce or basic economics in depth, but you have probably read plenty of articles from experts discussing share market collapses and movements, and grazed the newspaper discovering interest rates on hold, or something. But if a client asked you, ‘how will this affect the real estate market?’, you might be at a loss for an answer.
SA Real Estate News is proud to announce a new regular segment called ‘Everything an Agent Should Know (But Probably Doesn’t)’. We will teach you all about how to answer questions like ‘how is the SA economy doing?” and “what will an RBA rate rise mean for buyers?”. By exploring the complex side of the real estate industry and digging into topics they do not teach you in real estate school, we can teach you real world skills of real estate, such as;
1. Media, PR & Advertising – Marketing by yourself
How can I “pay for likes” on Facebook?
Does Twitter work?
Real Estate Websites Vs Print Media – Is it really black & white?
What’s the cheapest way to get my brand out there?
I have a $500 advertising budget, what should I do?
Now here’s a topic that agents probably understand better than most: real estate advertising & marketing is a huge industry, but it seems to have a choke-hold on agents.
What if you could sell homes without using these traditional methods of real estate advertising? Instead of using third party websites or printed newspapers to attract buyers, what if you used nothing but your own website and a few handy tricks in social media.
The funny thing is, this isn’t a dream and it is very easy to do!
By adapting the right marketing tools, and researching where to find your buyers, you can easily put together a great marketing package which will sell a home for only the tiniest fraction of a regular marketing campaign budget.
But what kind of effect does this kind of marketing have on your brand’s image?
This section is probably the most exciting section in the series. It is here we discuss, in great detail, some of the incredible tools at your disposal that you did not even know you had. We also give you great tips on marketing homes, yourself and your brand.
2. Finance – More than just home loans
What does the the ASX 200 have to do with finance?
How does the RBA set the “interest rate”?
Why is the RBA’s interest rate different from what I pay my bank?
What are mortgage bonds?
What is a “asset backed security”, and what does it have to do with home loans?
The majority of agents have a pretty good understanding of the home loans side of the finance industry – we all know “the best broker” and we usually have them on speed dial – but there’s way more to finance than just great deals on home loans.
According to the ABS, in 2015 $74 billion dollars flowed through the financial sector in finance related activities. Every cent of that money had a very big impact on the real estate market and every cent had an effect on our industry not only on a national level, but all the way down into a single household.
Our finance section will look into the latest headlines of the finance world, where we will not only explain what they mean but, more importantly, what it means for real estate agents, your clients, and your business.
3. The Economy – What the heck is up or down?
Ok so I get supply and demand, but how hard could it be?
Macro and Micro Economics… What’s the difference?
Our GDP is higher every year, so why is everyone worried about it?
What is “Keynesian”?
Anywhere you look in the media, there is always an economics expert talking about whether the economy is going to be ‘up’, or ‘down’. Most of the time you are left with more questions than answers after leaving these articles.
Join us for this segment, so that the next time you are at a family BBQ, and the conversation turns to ‘the economy’, you will have a much better understanding of what exactly is involved. And of course, you can answer that age old question of ‘ups’ or ‘downs’.
4. Politics & Law – Who scratches whose back?
So who’s in power and what’s a guy gotta’ do to pass a law around here?
The law obviously affects me, but how can I make it work for me?
What Real Estate legislation changes are in the works currently?
What would it take to get my commission upfront?
Real estate legislation is extremely important as it is the foundation on which we run our businesses. It is how we determine everything such as how to deal with complaints, to how to collect debts from clients. It important we get our heads around the facts and fully understand how we are governed.
There’s plenty of laws that principals can use to help run their businesses more efficiently, while agents need to understand when they themselves are getting a ‘fair deal’.
Most importantly, we all need to understand the laws of our industry because it is how we protect ourselves, ensuring our employment of ‘list and sell’ is a successful and profitable one.
We aim to show you there is more to law in real estate than just conveyancing, breaking apart real estate politics and law in this section of the series.