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Guide to marketing your property

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Moreton Investor (7), Property Management, Real estate Moreton, Mortgage Broker Moreton, Moreton property market

There are many components to consider when it comes to marketing a property in Moreton. From basic direct marketing collateral such as colour brochures, through to print advertising and virtual tours – there are various tools available to make marketing a home easy and successful.Moreton Investor (7), Property Management, Real estate Moreton, Mortgage Broker Moreton, Moreton property market

Every property warrants a different marketing mix and this is usually dependent on the types of buyers the home may attract. For example, a small entry-level investment unit will not have the same marketing strategy as a prestigious waterfront mansion.

How much is enough?

As a general and somewhat unwritten guide, many property agents will advise that approximately one per cent of the anticipated sale price should be allocated towards the marketing spend. For example, a $500,000 property would generally comprise of a $5000 marketing plan. However, this is just an industry guide. A seller can allocate as much or as little to a marketing budget as he or she sees fit.

 Where do I put my marketing money?

A study conducted by Neilsen Australia (http://au.nielsen.com/site/index.shtml ) researches which tools a consumer uses when researching property. The study finds that local newspapers and the internet are the most highly engaged mediums. A property consultant can advise you on what they propose are the most successful tools in your particular market.

Ways to market a property

There are many different ways to market a property, however before you place an ad or go online, you will need to ensure you have adequate photography of the home. These days, majority of sellers engage a professional photographer and sometimes, a professional copywriter to make sure the property looks and sounds, as appealing as possible.

Common forms of  material

Window cards and brochures: A property consultant will usually generate a window card for the office shop front and various colour brochures or booklets to give prospective buyers at the open for inspections. This printed collateral forms part of the marketing basics.

Signboards: There are many different types of signboards on the market and your property consultant can advise what he or she thinks may be suitable for your particular property. From a basic corflute ‘for sale’ sign, to a full colour board with photos and floor plans, you can create your own design. Properties that have minimal street appeal (such as a battle-axe block or cul-de-sac home) can greatly benefit from photographic sign boards, while those that have a virtual tour or additional features can benefit from featuring a QR.

 

Article originally published in www.Couriermail.com.au   by Jade Harrison  New Limited Newspapers 26/6/2012

Property Management

Mon Komo Redcliffe Records Strong Occupancy Rate

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Property developer Kyko Group has released performance figures for investment properties at its $150 million Mon Komo development in the bayside Brisbane suburb of Redcliffe.

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Property Management

7 Common GST Mistakes On Property

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It’s great to see the property market in South-East Queensland going in the right direction. With that comes an upswing in volume of transactions and GST consequences to consider.

GST and property has always been a touchy area and the Australian Taxation Office have remained active and vigilant in identifying problem transactions.

With the market now moving in the right direction we thought it a good time to set out the most common mistakes we see in the market by developers and professionals. So, here are 7 Common GST Mistakes on Property:

#1. CHARGING GST ON PRE-EXISTING RESIDENTIAL PREMISES.

For some reason this continues to happen almost 15 years after GST was introduced. If a developer sells pre-existing residential premises there will be no GST effect [they are input taxed supplies]. This is despite the fact that the developer is GST registered and selling to another GST registered developer. To be clear this only applies to pre-existing houses, units, apartments, etc … not land that may happen to be in a residential area.

#2. FORGETTING TO AGREE THE MARGIN SCHEME IN THE CONTRACT.

While most developers are aware that selling under the margin scheme can save GST on sale it is still often left out of the contract in error. The only way to fix this problem is to go to the purchaser after settlement to agree the margin scheme was used. You then still have an additional step in asking the ATO to waive the normal requirement to have this agreed prior to settlement. If this doesn’t occur you have lost the full 1/11th in GST on sale.

[Tip – make sure you can use the margin scheme in the first place]

#3. CLAIMING GST ON A RESIDENTIAL PROPERTY BEING BUILT WHERE YOU INTEND TO HOLD THE PROPERTY.

No GST can be claimed where you intend to rent out a property for residential rent. This is the case even if you intend to sell the property as new residential premises within 5 years of construction.

[Tip – make sure you have considered the cash-flow effect of not being able to claim back GST on construction costs]

#4. FIRST TIME OR PRIVATE DEVELOPERS REGISTERING AUTOMATICALLY FOR GST TO CLAIM CREDITS BACK.

When you undertake a development you need to consider whether or not you should register or if you are required to be registered for GST for your specific development. If you are subdividing land that you have held for a long term for a capital purpose such as rental, then you might not need to register for GST. If you choose to register for GST when you’re not required to by law you could be giving a lot of profit away by unnecessarily paying GST on the sale of the development property.

[Tip – do the maths and seek advice on your personal circumstances]

#5. IF A PROPERTY IS USED COMMERCIALLY THEN IT WILL AUTOMATICALLY ATTRACT GST ON SALE.

This is another common misconception. Traditionally with GST the type of property tends to determine the GST treatment. In other words you should look at the property and understand what its normal form and function is. Don’t just look at how the property is used. This will mean many properties used in a commercial way may not actually be subject to GST.

[Tip – you normally shouldn’t be charging GST to a commercial tenant in this circumstance or claiming back GST credits]

#6. IF YOU HAVE CHARGED OR PAID GST WHERE YOU SHOULDN’T HAVE IS IT DIFFICULT TO DO ANYTHING ABOUT IT?

We have dealt with numerous circumstances on both sides of the fence where we have been able to get a much better GST result. In some cases the ATO has been actively engaged with to ensure a good outcome.

[Tip – it’s still easier and less costly to get it right up front prior to settlement]

#7. IT’S TOO HARD TO GO TO THE ATO TO GET A PRIVATE RULING ON GST.
This is not the case. GST and property tend to be one of the more common rulings the ATO are asked for. They also tend to be quick to resolve where you know what information is required to be provided up front. This is one way to deal with contentious GST matters under contract.

We see these types of mistakes happening all the time [along with many others]. But now over to you, leave your comments below and tell us what other GST mistakes you have experienced on property.

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Property Management

Queensland Says No New Taxes on Foreign Property Buyers in Bjelke Petersen-like Strategy

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Queensland Says No New Taxes on Foreign Property Buyers in Bjelke Petersen-like Strategy

Queensland Says No New Taxes on Foreign Property Buyers in Bjelke Petersen-like Strategy

 

The Queensland government has ruled out introducing new taxes on foreign buyers of residential real estate.

They are the only state that actually monitors foreign investment, so were in the box seat to implement such a tax regime.

The rejection comes after the populist Victoria Labor government’s recent budget unveiled a new tax regime that will seek to tax foreign buyers and foreign owners.

Queensland has vowed not to ­follow Victoria’s lead and introduce any new taxes on foreign property investors.

Treasurer Curtis Pitt said Queensland welcomed foreign property investment.

“We’re ruling out any stamp duty surcharges for foreign investors who purchase a house in Queensland,” said Pitt.

“We’re also ruling out any land tax surcharge for foreign investors in this state.”

The Victorian state budget, revealed on Tuesday, included a 3%t stamp duty surcharge for homes from July and land tax increases of 0.5% from 2016 for offshore-based investors.

News Ltd reported Queensland executive director of the Property Council, Chris Mountford saying the action will strengthen Queensland’s position on the global investment map.

“In particular it creates a compelling case to invest in Queensland over Victoria.”

Nothing new for Queensland as that was how former premier Joh Bjelke Petersen saw the state into an upswing when Queensland didn’t have death duties like other states.

It was in 1977 when the Premier of Queensland Joh Bjelke Petersen abolished death duties and a wave of Australia’s elderly headed towards the Gold Coast with the high rise following as dying in Queensland became a tax avoidance scheme and Surfers Paradise became a retirement haven.

By JONATHAN CHANCELLOR via propertyobserver.com.au

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