Real Estate News


Don't be an Auction Bunny - Reading the Play When Buying at Auction


 Auction bunnies are home-buyers duped into bidding at auctions when they have no chance of being a successful buyer. The auction bunny reaches their maximum price at the auction before the price even hits the seller's reserve. Not only do these poor bunnies often get their hearts broken, they also lose thousands of dollars in 'due diligence' expenses - such as building reports, pest reports, strata reports and legal expenses.   Here's what happens: an auction bunny asks the agent, "How much will this property sell for?" The agent gives the standard bunny-trap reply - they quote a price around 10 to 15% below the seller's reserve price. For example if the seller want a million dollars, the auction agent will say "We're expecting bidding to start from around $850,000". If the auction bunny pushes the agent, saying something like, "Are you sure? Do you really think it will sell for such a low price?" the agent will say something like, "The sellers are keen and will meet the m...


Choosing a Real Estate Agency That Responds to HOT Callers


  Most Essendon homes for sale are easy to spot because they have a 'For Sale' sign out the front. This is because even in the days of internet in their pockets, prospective home buyers often like to drive around an area to get a feel for it when preparing to buy, as some are specifically looking for streets or houses in which they would like to live. It's also standard practice for the For Sale sign to have a phone number so prospective buyers can call and get information about the property - but this is only useful if the agent is ready to strike while the purchaser is HOT.   Put the Agency to the Test If you're in the process of selecting an agent to sell your home, try ringing a phone number from a signboard as if you were about to organise an inspection. Signs are great at generating such phone calls, and while many of these calls never result in a 'sold' sign, it's worth being sure that the agent you're about to choose ca...


Pennisi News & Views 2018


Click here to read the latest Pennisi Real Estate 2018 News & Views.  


The Leopard's New Spots - The Real Reason Behind Expensive Internet Ads


    Real estate agents love a ‘motivated vendor’. Why? Because a motivated vendor is far more likely to sell, even if the price is below their expectations - whereas unmotivated vendors are more likely to reject lower than expected offers. You may have heard the saying, ‘The best time to sell is when you don’t need to’. It’s this lack of motivation in the seller that causes indifference, inadvertently creating an advantage of sorts for themselves over the buyer. The buyer and/or their agent need to pander to the seller’s demands when the vendor’s motivation to sell is low. Unmotivated vendors can be a nightmare for real estate agents if they are ambivalent about selling, because the agent only gets paid if they do sell, which creates conflicting motives for the seller and their agent.     When a seller signs with an agent, they are exclusively signed to that agent’s firm for the duration of the a...


What will Labor do to my wealth?


  If you’re a home owner, you’re no doubt wondering about the future of your investment (not to mention the future of the Liberals) in light of the recent leadership spill. Below is one concerned home owner’s letter to financial guru The Barefoot Investor, and his response to the political instability.         Hi Barefoot Investor,    Given the way the Liberals have self-destructed this week, it’s looking increasingly likely they’re not going to be in office next year. Yet the thought of Bill Shorten making it into office terrifies me. I am 54, earn $110,000 a year, and have an investment property. Should I be worried?   How do I prepare?   Rod       Hi Rod,   I wouldn’t advise basing your long-term investment decisions on short-term politics. (After all, the way Canberra craters, next year we could have Kyle Sandilands and his deputy Jackie O having a tilt at the ...


Can we promote your business?


  As the oldest Real Estate agency in Moonee Valley, Pennisi Real Estate is passionate about supporting local business to create a connected and thriving local community. With 45 years’ experience, we understand first-hand the challenges small business owners face when it comes to marketing their brand and attracting new customers. That’s why we’d like to invite you to promote your local business or community event on our Essendon Community Facebook Page.   Just LIKE the Essendon Community Facebook Page and send us a Facebook message with the details of a special offer or upcoming event, and we’ll promote it to our growing online community of locals from Essendon and surrounding suburbs:  Airport West Brunswick Campbellfield  Essendon North Flemington  Footscray Hillside  Keilor Keilor East Keilor Park Moonee Ponds Mount Macedon Niddrie Pascoe Vale Point Cook Strathmore Tullamarine  ...