MARKET APPRAISAL Prepared for Brook Boswell
4 Eleban Place,
UNPARELLED, MARKET LEADING REAL ESTATE SERVICES
Berkeley NSW 2506
WELCOME We wanted to personally thank you for giving us the opportunity to submit our market proposal and recommendations for the sale of your property. At MMJ Real Estate we provide unrivalled knowledge and skills in the delivery of market leading real estate services, to achieve the best possible result for our clients. We have been providing opportunities, solutions and services to the Illawarra property market for 60 years. You’ll find a detailed report outlining several key considerations which will assist you with your decision making and highlight our customised service and sales strategy for you in the marketplace. We look forward to bringing you the experience, energy and expertise required to achieve a great outcome. Should you require any further information please do not hesitate to contact us.
Daniel Hastings
Director 0416 283 876
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daniel.hastings@mmj.com.au
Professional and excellent communication. Daniel was extremely professional in dealing with the sale of our home. He kept us up to date throughout the process and worked hard to get the best price (even during the difficult times presented due to COVID-19)! Thank you to Daniel and the team at MMJ ____ Sale of rental unit
Daniel was able to secure our sale within 10 days of listing in a very difficult market. He was professional, approachable and would highly recommend him to anyone. ____
Best Real Estate Agent
Š MMJ Real Estate
Just sold family property with MMJ Real Estate. Very happy with service provided by Daniel Hastings the agent. He was professional, knowledgeable and very empathetic towards our situation. I would defiantly recommend Daniel to friends and family.
SUMMARY
m2 -
-
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Partially modernised 3 bedroom home in low traffic cul-desac address. Carport situated under the roofline. Near level allotment. Short walk or drive to Lake Illawarra shoreline. Easy commute to Wollongong CBD or Sydney.
TITLE
AREA
ZONING
Lot 1740 DP 226207
639m2 approx.
R2 Low Density Residential
$
ESTIMATED MARKET VALUE This represents our opinion on market value as at the date of this report based on recent sales, current stock levels, current market conditions and current economic events. The information set out above is a recommendation based on the agent’s knowledge and considered opinion of prevailing market conditions. This is not a valuation and should not be used or relied upon for such purposes, as a number of enquiries made during the normal course of valuation have not been undertaken. No liability will be accepted on the basis of information supplied. This information is relevant at the date of this appraisal and we reserve the right to review this based on current market conditions. Please note the agent has not completed an internal inspection of this property.
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FEATURES
REGIONAL MARKET OVERVIEW
Regional locations are increasingly seen as a viable alternative to city life as flexible working and remote offices become the new norm. This means it is not only holiday-makers, downsizers and retirees who are interested in these markets. Young families and professionals—put off by Sydney’s cost and overcrowding—are now looking for a sea change and moving south to regional centres like Wollongong. Contradicting NSW reports, Wollongong’s real estate market, local economy and better-quality lifestyle have bucked the trend and been only slightly affected by the COVID-19 pandemic.
Wollongong’s Property Market What’s Positive The QBE 2019–2022 Australian Housing Outlook forecasts Wollongong to experience modest price growth from 2021 through to 2022. It predicts that the median house price will grow by 4− 6% over this timeframe. Surprisingly, the latest figures in June 2020 showed Wollongong had an increase in the medium house prices during the COVID-19 pandemic. Overall, it suggests prices are likely to stabilise and improve in the region over the latter part of 2020. Real estate is a long-term investment…and it is important to remember that property values have increased by 37.3% over the last 5 years. .
Remember: real estate is governed by social and political factors, and the COVID-19 virus will continue to affect our economy and marketplace.
© MMJ Real Estate
Most reports indicate that house prices in the Wollongong area increased by 1.4% in the beginning of 2020 with the median price at just over $700,000. It is a similar story for other locations in the Illawarra, with Kiama and Shellharbour median prices experiencing a comparable increase. Earlier in the year, NSW market conditions levelled with many experts indicating that the lows of 2019 passed. Unfortunately, with the COVID-19 virus affecting our economy and real estate, the market is now unsettled.
RECENT SALES 17 Goolana Street Berkeley NSW 2506 Sale Date: Sale Price: Size: Features: DOM: Analysis:
February 2020 $435,000 664m2 (approx) 3 Bed 1 Bath 1 Car 4 Days - Closely located to subject but not in a cul-de-sac as per subject. - Similar accommodation to subject. - Dated as per subject property. - Slightly larger land area than subject. - Sold in strong early 2020 market, prior to pandemic restrictions. - Overall Comparable
13 Goolana Street Berkeley NSW 2506 Sale Date: Sale Price: Size: Features: DOM: Analysis:
May 2020 $445,000 594m2 (approx) 3 Bed 1 Bath 1 Car 64 Days - Closely located to subject but not in a cul-de-sac as per subject. - Similar accommodation to subject. - Dated as per subject property. - Smaller land area than subject. - Sold in similar market to present, during pandemic. - Overall Comparable
273 Flagstaff Road Lake Heights NSW 2502 November 2019 $497,500 716m2 (approx) 3 Bed 1 Bath 1 Car 25 Days - Closely located to subject but much more traffic. Not in a cul-de-sac as per subject. - Similar accommodation to subject. - Has garage where as subject has carport. - More modernised than subject property. - Slightly larger land area than subject, but more sloped allotment. - Sold in the improving late 2019 market, arguably slightly lesser market than the present. - Overall Superior.
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Sale Date: Sale Price: Size: Features: DOM: Analysis:
RECOMMENDED METHOD OF SALE The method of sale chosen to sell your property is an important decision, as not all properties should be sold the same way. Among real estate experts there are strong advocates for numerous methods. Some say the competitive atmosphere of an auction guarantees the best price. Others warn that auctions are fraught with danger and a private treaty sale is the most effective way to extract every last dollar out of a buyer. To maximise profits and minimise selling time, it is best to consider all options and choose the most appropriate for your requirements. Having considered the available methods of sale, given the current economic climate the most appropriate method of sale we recommend is a sale by Private Treaty. Majority of recent sales have chosen and succeeded with this method and the general market is familiar and comfortable with this method.
PRIVATE TREATY
Disclose Price + Invite Offers A standard residential property transaction is known as a Private Treaty sale. This is when you set the price you’d like your property to sell for, and your real estate agent negotiates individually with prospective buyers to achieve a sale as close t o this price as possible.
Benefits• Greater flexibility for negotiation. For instance, a contract can be signed ‘subject to' certain conditions such as a report, inspection or finance approval. • Flexibility regarding the length of time your home is listed for sale: unlike an auction, you are not working towards one specific date. • Cost savings on the marketing and promotional expenses is debatable subject to how long the private treaty sale goes for.
PUBLIC AUCTION Create Competition + Bidding.
© MMJ Real Estate
Benefits • Sense of Urgency; Auctions generate a sense of urgency amongst buyers. This sense of urgency is due to there being a set ‘end date’ for the sale of the property and this compels potential buyers to make a decision on the day. • Competition Amongst Buyers; At an auction, competitive bidding amongst potential buyers means that the selling price often exceeds the expected value of the property, maximising the sale price for the seller. • Reserve Price Protection; An auction provides sellers with protection in the form of a reserve price. This means that your property will not sell unless bidding reaches a pre-agreed level. Further, there is no ceiling price, so you have the opportunity to achieve a price well above your expectations especially if there is a competitive crowd. • Set Terms; Auctions are suited to situations where the owner wants an unconditional sale (no cooling off at auction) or wishes to set specific terms of sale, such as settlement terms to suit the vendor.
STRATEGY METHOD / PROCESS
MARKETING
PRICE
We recommend is a sale by Private Treaty.
If you are wanting to go ahead with the sale of your property, I will prepare a Marketing Campaign suited to your property.
Considering market conditions and sales evidence, should the property be placed on the market in the near future, we believe you could achieve within the sale price range of; $430,000 - $460,000 Please note the agent has not completed an internal inspection of this property.
MARKET
IMPROVEMENTS
FEE
THE WAY FORWARD
Investors, Families & Established couples.
No need to do any major works to the property, only just ensuring that the property is neat and tidy for the open for inspection times.
We propose that the remuneration for the provision of property services shall be calculated at 1.98% of the sale price including GST plus an agreed marketing investment cost.
Decide when it would be a good time for yourself to sell the property and give myself a call.
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TARGET
Presenting your property for sale is an important step to master. If done correctly it could help you to achieve a better result.
Q.
Ask your MMJ expert about property styling and how it can unlock
hidden value in
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your property.
TAILORED MARKETING SHOWCASE During the marketing period, MMJ will manage all aspects of the campaign from concept to completion. We will contact our comprehensive buyer databases which are unsurpassed in our region containing the largest number of active buyers! Coupled with this, our high quality advertising and open houses will ensure we capture 100% of the target market. To keep you informed we will constantly provide updates on activity, offers and feedback from the market. The following timeline is what we aim to adhere to.
Week 1
Public Launch All proposed advertising to commence both print & digital.
Week 2
Client Launch All identified targeted parties and investor lists will be contacted prior to public launch
Week 3
Variable Marketing Timeframe
Weeks 3-6
Prime Engagement Period Inspections, market profiling, vendor reporting .
Weeks 6+
Exchange of contracts & Settlement period
Expected Settlement Period Usually 6 weeks but can vary subject to negotiations.
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Pre marketing including the preparation of all advertising material.
DIGITAL MARKETING
SOCIAL
WEBSITES
Tailored Facebook and Instagram campaigns to reach the target market
50,000 website views per month
CREATIVE CONTENT
AUDIENCES
TARGETED ADS
Our Social Media Marketing Team (Facebook, Instagram, LinkedIn, Twitter, YouTube, Google +) generate 750,000+ engagements per month
Extensive, well managed lead strategy to generate, capture, nurture and convert leads
50,000+ client database with an automated CRM
© MMJ Real Estate
In-house content creators and marketing experts
DATABASE
BROCHURES
SIGNAGE
NEWSPAPER ADS
Professionally designed and printed property brochures, scripted by a copywriter
Strategically designed signboard to engage with passing traffic
Local, regional and metropolitan newspaper advertisements
AUCTION FEES
PHOTOGRAPHY
CAMPAIGN MANAGEMENT
Accredited auction + venue hire
Profession photography internal & external + floorplans
Booking, content preparation & campaign management
© MMJ Real Estate
TRADITIONAL MARKETING
2017 2016 2014 2013 2012 2011
Š MMJ Real Estate
2018
Illawarra Business Awards Property & Finance Finalist Young Business Person - Luke Rollinson Finalist
2019
Illawarra Business Awards Property & Finance Highly Commended
2020
RateMyAgent Number One Agency Wollongong WINNER Number One Agency in Wollongong WINNER REI NSW Awards for Excellence , Commercial Agency, Finalist Project Marketing, Finalist lllawarra Women in Business Awards Best Small Business, Winner Customer Focus, Finalist
RateMyAgent Number One Agency Wollongong WINNER Number One Agency in Wollongong WINNER
Illawarra Business Awards Property & Finance WINNER REI NSW Awards for Excellence Commercial Management Finalist
Illawarra Business Awards Property & Finance Finalist
Illawarra Business Awards Excellence in Workplace Health & Safety Finalist
REI NSW Awards for Excellence Commercial Agency WINNER
RateMyAgent Number One Agency Wollongong WINNER Number One Agency in Wollongong WINNER
RateMyAgent Number One Agency Wollongong WINNER Number One Agency in Wollongong WINNER
RECENT ACCOLADES
WOLLONGONG
MMJ continually strives to provide the best quality
service to its clients. This outstanding service has been consistently recognised and awarded by the local business community and the real estate industry.
2010
MMJ Case Studies
3 Sheppard Street West Wollongong NSW
Price: $600,00 Days on Market: 110 Method: Private Treaty
Description: Located at the end of a low traffic cul-de-sac address with excellent conveniences to Wollongong Uni, bus transport & Wollongong's CBD. • Generous 898m2 site with great access for many vehicles.Only one step, so the levelness is ideal. • Spacious kitchen and dining space.
THE MMJ DIFERENCE // A longer campaign doesn’t also mean that the property will never sell. The agent gained the vendors trust to ensure that they knew the agent would get the best result possible. It took 138 prospective buyers through the property to find a buyer and securing a great result.
40A Mangerton Road, Wollongong NSW
Price: $880,000 Days on Market: 34 Method: Private Treaty
Description: Recently renovated 2 storey residence in established CBD outskirt address, perfect for the larger family with no urgent works required. • Approximately 27-yearold home, notably modernized in recent history. • Spacious formal and informal living spaces downstairs, plus upstairs retreat.
© MMJ Real Estate
THE MMJ DIFERENCE // With 3 offering parties in a race to secure the property, your agent must know how to handle those types of situations and MMJ Wollongong does. Our agents know how to adapt to every situation and always has the vendors interest at heart & top of mind.
AGENT PROFILE
DANIEL HASTINGS
With over 25 years experience in the Illawarra real estate
Director, Licensed Real Estate Agent
industry (Almost all with MMJ), Daniel has established
MMJ Real Estate, Wollongong
himself as one of the Illawarra region’s premier agents.
0416 283 876 Daniel.hastings@mmj.com.au
His strong work ethic, resources that are 2nd to none from the region's largest real estate company & a refreshing no
QUALIFICATIONS & FURTHER EDUCTION
non-sense approach to his business dealings has provided Daniel with people raving about his services to their loved
• •
Licensed Real Estate Agent since 1995 Accredited Auctioneer
“We chose Daniel after a first impression that was one of professionalism and honestly. Daniel brought an inspiring, enthusiastic and encouraging energy to our sale.“
ones.
With a professional & personal network the envy of many in the industry, you can be assured that all necessary bases will be covered when Daniel is selected as your agent of choice.
Countless MMJ clients have benefitted from Daniel’s superior auctioneering skills over the years, but so have many worthy charities. MMJ have lead the way in the art of Auction for decades & Daniel proudly continues that legacy as MMJ’s head auctioneer.
Family & sporting activities provide Daniel a life balance outside work hours. Football (soccer) is Daniel's passion but he has also taken part in numerous running events, including 5 full marathons, in the last decade. Wife Kim & their 2 boys have been extremely supportive throughout Daniel's career, especially when he became a Director of MMJ in 2005.
KEY PERSONNEL WOLLONGONG
DANIEL HASTINGS
DAVID GEARY
Director, Licensed Real Estate Agent
Director, Licensed Real Estate Agent
0416 283 876
0418 423 782
daniel.hastings@mmj.com.au
david.geary@mmj.com.au
VICTOR SHALALA
ANGELA SHALALA
COOPER REED
Partner, Licensed Real Estate Agent
Personal Assistant to Victor Shalala
Residential Sales Consultant
0421 307 664
02 4229 5555
0447 178 967
victor.shalala@mmj.com.au
angela.shalala@mmj.com.au
cooper.reed@mmj.com.au
Sales Secretary 02 4229 5555 ressales.wollongong@mmj.com.au
MMJ IN-HOUSE MARKETING TEAM National Marketing Manager & Marketing Coordinator marketing@mmj.com.au © MMJ Real Estate
EMILY NORONHA
OUR VISION
© MMJ Real Estate © MMJ Real Estate
OUR VISION IS TO PROVIDE UNRIVALLED KNOWLEDGE AND SKILLS IN THE DELIVERY OF MARKET LEADING REAL ESTATE SERVICES.
MARKET-LEADING NATIONAL SERVICE LINES
How can we help you? View more information and explore all our services and office locations online. mmj.com.au
PROJECTS Land Subdivision Sales Industrial Strata Commercial Office Buildings Mixed Use Developments Consultation On-site Sales Pre-selling Planning Cash Flow Management
VALUATION & ADVISORY Rental Valuations Property Valuation Feasibility Studies Property Consultancy Market Research Land Tax Objections TOWN PLANNING Property Consultancy/Advice Strategic and Statutory Planning Development Applications Rezoning Applications Master Planning Statement of Environmental Effects Reports
ASSET SERVICES Tenant Placement Expenses Management Repairs & Maintenance Arrears Control Asset Management Strata Management MARKETING Tailored Advertising Campaigns In-house Graphic Designers Bulk Advertising/Discount Rates
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SALES Commercial & Industrial Residential & Development Pre-selling Advice Property Sales Sale by Auction Marketing
DISCLAIMER
PRIVACY
This document is strictly private, confidential and personal to its recipients and should not be copied, distributed or reproduced in whole or in part, nor passed to any third party.
MMJ Real Estate understand and respect that protection of your personal information is important to you and are committed to protecting the privacy of personal information in accordance with its obligations under the Privacy Act 1988 (Cth) (the Privacy Act) and in particular, the Australian Privacy Principles (APPs). For our full Privacy Policy head to www.mmj.com.au/privacy