I spent after long time few months in Australia last year. It was very nice to see familiar places and the old friends again. But apart from the personal memories, Melbourne reminded me of something else as well. Already after a few weeks I got quite a good understanding of the real estate market. How is it possible that a person who is not a professional in RE market, gets this level of knowledge, without investing a lot of time and money into the market research?
It is quite easy, the real estate agents do it for you. In Melbourne it is impossible to walk for more then a kilometer and not to see a big banner in front of a house. "FOR SALE"sign is just a part of the streets like shops and parking meters. In front of EVERY house for sale is at least a small banner with the agency name, contact details and the expected price. The expected price, because most of the houses are sold on auctions. Properties sold by the well known agencies have a Billboard up to 1,5x2 meters with beautiful photos of the interior, and/or garden with the pool. So even if I did not think about buying any property, I could not escape the flood of real estate information. So when there is a huge board in front of an ordinary house, with the photo of modern living room with the garden view and price tag 500000, one must start thinking: 250 square meters house with a pool, big garden, 5 minutes from the beach and only 15 minutes from the city center and "only" 500 000 AUD (approx 370 000 EUR)???
The result is that Australians can talk about the real estate prices and locations like we talk about the petrol price. Almost everybody has a rough idea what is possible to buy, where,for how much, and who is the best RE agent etc. Names of agencies, their logos and approximate prices are imprinted in their brains long before they start to even think to buy or sell.
Have I talked about "open houses"? With the exception of RE/MAX in Austria and a few big projects I have never seen an "open house" note in any ad. If I have missed some, please let me know. You will make me really happy.
I know that this might sound like another grumpy expat, who came home to tell everybody how it is supposed to be done. But I can't help myself. Here I have a feeling that nobody wants my money, and I have to fight in order to (sensibly) spend them.
I went over this website and I believe you have a lot of wonderful information, saved to my bookmarks
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