GOOD MORNING FROM ELITE AGENT

A groundbreaking new construction system by AltForm is promising to transform home building in Australia.

Using prefabricated components that fit together like a puzzle, single-storey homes can now be completed in just 10-15 days, while two-storey homes take 20-25 days.

The system also has zero-waste system, with all components designed for reuse. For agents, this means quicker listings and a unique selling point for clients prioritising sustainability.

Today’s read time: 4 minutes, 22 seconds.

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OPINION

Are you unfairly rejecting young tenants? Here’s why they might be your best bet yet

Young, first-time tenants often face a tough time landing rentals because they don’t have a rental history, and landlords tend to favour seasoned renters

But Alison Hatch, Director of Best Nest Property Management, thinks it’s time to look beyond that. She says a bit of simple digging (checking work history, finances, and getting solid references) can show that young renters are more than capable.

Plus, they’re often eager to impress, which means better property care and on-time rent.

Alternative vetting methods

“You can thoroughly check a young tenant who may not have any leasing experience in multiple ways, just like you can a seasoned tenant,” she explains.

By examining work history, financial documents like car loan repayment ledgers, and personal referees, agents can build a comprehensive picture of a young applicant’s reliability. Alison also mentions that providing evidence of home care readiness, such as having the necessary garden tools or equipment, adds another layer of assurance for landlords. It may seem left of centre, but it all paints a picture of how capable tenants may be.

Eagerness to impress

Alison also points out that first-time renters often show a higher level of commitment compared to seasoned tenants. “Inexperienced tenants are very eager to please and very protective about collecting the best rental history.”

This desire to prove themselves can lead to better care of the property and more consistent rent payments. Best Nest’s internal statistics support this, showing that first-time renters often receive high ratings for their attention to detail and reliability.

Success story

“In 2023, a single father and his partner with no rental history applied for one of our ground-level units. They had been refused multiple properties elsewhere, but after thorough checks using our methods, we found them highly suitable with strong, aligned values.”

Alison said the couple excelled throughout their tenancy, taking on feedback and keeping the property in top condition. “Their trust paid off, and we recently moved them into a house with a yard, allowing them to expand their tenancy history and skills.”

ICYMI, last week we reported on what The Great Aussie Dream looks like in 2024

TOGETHER WITH DOMAIN

Agents using Domain’s new Audience Boost feature are reporting an average 23% increase in listing views, along with more interest and enquiries. Launched in July 2024, Audience Boost promotes residential sale listings through display advertising and social media using advanced AI to target new and returning buyers.

By leveraging Domain’s exclusive data with platforms like Google, Facebook, and Instagram, the tool reaches beyond Domain’s six million monthly users. Melbourne agent Halli Moore of Buxton Real Estate highlighted how Audience Boost aligns with current trends of mobile and social media usage, while Sam Taylor of Evans Properties noted increased enquiries, even from out-of-area buyers.

Read more about Domain’s Audience Boost feature here

SMART SNIPPETS

Victoria ends no-fault evictions
Victoria is making life easier for renters with new laws banning landlords from evicting tenants without valid reasons. The sweeping reforms, introduced to parliament in 2024, will cap lease-breaking penalties and ban fees for rent processing. Landlords can still evict for legitimate reasons like non-payment or property damage, but arbitrary evictions will be a thing of the past.

NZ market hits 10-year peak
The New Zealand property market in October 2024 saw its highest stock levels in a decade, with over 32,000 properties available, which is a 26.3% increase from last year and up 7.7% from September. While the recent OCR cut and easing interest rates sparked a 17.1% boost in buyer enquiries, sales momentum remains cautious.

Is relief in sight for homeowners?
Australian homeowners facing mortgage challenges aren't alone, with nearly half of all mortgage holders experiencing payment strain—an all-time high. On the positive side, the RBA's decision to hold rates steady at 4.35% signals a cautious approach, prioritising economic stability. As inflation continues to ease, there’s hope that future rate cuts could offer some much-needed relief.

SOUND WAVES

Why less is more in conversation

Alright, this might be a tough pill to swallow: today's curated listen is all about the impact of saying less. In a world overflowing with over-talkers, those who speak with intention truly stand out.

Dive straight into the listen below or the deeper dive here.

Read the article from Time here

AGENTS ON SOCIAL

As a real estate agent, I know we can get a bit inquisitive. It starts innocently enough: “What kind of space are you looking for?” Then it snowballs: “Do you cook often? What’s your Wi-Fi password strength? By the time we’re done, I know your dog’s name, your favourite recipe, and whether your in-laws are over too often. 🗣️🥘

@shaan_samsrealestate

Realistic Real Estate Agent Lifestyle in 2024 🏡✨ Making connections everyday is part of the real estate agent job, especially is Dubai Rea... See more

Seen an Agent On Social we should include? Let us know here (email link)

Wishing you a productive day

Elite Agent is crewed by Mark Edwards, Catherine Nikas-Boulos, Rowan Crosby, Giverny Pringle, Charmagne Arrubio and Samantha McLean. We aim to uplift the real estate industry by delivering forward-thinking, hype-free news and education that fosters knowledge and fuels ambition.

If you see a * beside a story, it’s a sponsored post, including the 'Together With' section. To enquire about advertising with us, visit eliteagent.com/advertise.

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