Archive for the ‘Buyer beware’ Category

Does your agent really need local knowledge?

Many agents think local knowledge is their best asset. There's no doubt it's an important part of every successful sale but it certainly shouldn't be the main reason for selecting your agent. The traditional model of real estate agencies working exclusively in small territories is changing. And that's good news for buyers and sellers. Read ten agent websites and every one will claim to be the expert in this suburb or that. So clearly it's no longer a differentiating factor in selecting the right agent for your transaction. Many vendors would rightly suggest local knowledge is a minimum expectation and runs a distant second to... View article »
Posted in Buyer beware, Sales Effectiveness on 1st November, 2015

The hidden cost of non-compliance

Residents of Melbourne apartment building which caught fire due to illegal Chinese cladding forced to pay $20 million replacement cost. It was the fire that occurred due to confusing building regulations, a regulatory failure and governments asleep at the wheel. Which makes it even harder for owners of apartments in Melbourne's Lacrosse building to pay the $20 million cost of replacing illegal cladding encasing their building - roughly $40,000 per apartment. In November, 2014, the Alucobest cladding on the Docklands building caught fire after a cigarette butt accidentally ignited the blaze on a sixth floor balcony. Melbourne City Council originally signed off on the... View article »
Posted in Building regulations, Buyer beware on 31st October, 2015