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Selling

How To Sell a Deceased Estate In WA – An Expert Guide

When you’re the executor of a deceased estate there are a couple of extra steps that you need to consider compared to when you are selling your own home.

First of all, if there is no will in place, you need to apply for a  Letter of Administration, from the Supreme Court of WA. If this is the case, it is highly recommended that you seek advice from a local estate lawyer.


On the other hand, if there is a valid Will and you are listed as the executor in the Will, you can apply for a Grant of Probate, also referred to as Probate, via the Supreme Court of WA.

This process under deceased estate property can take months and it may be worthwhile to seek assistance from a wills and estate lawyer. 

The next step is to apply to Landgate for the name of the title to be changed to your name as the executor. Once the title is updated, the property can then be sold.

When can you actually start listing the property for sale and start selling it?

If you are appointed as the executor, you can start the process straight away. However, the property cannot settle until you are listed as the executor on the title. If, for whatever reason, you cannot wait until the new titles are issued, it is possible to start the sales process earlier (for instance when Probate is granted but titles haven’t been updated). In that instance, a special condition should be included in the sales contract to make it clear that the sale is subject to the issue of the new titles from Landgate. The recommended approach is to wait until Landgate has finished with the changeover of the name. 

At The Haus Exchange we are have acted as selling agent on a number of deceased estate in Perth as well as in wider Western Australia. We are experts when it comes to deceased estate properties. 

We can help you removing the stress of being being an executor of a deceased estate and we have access to the right experts that can assist in making the difficult process easy.


Get in touch here….

Frequently Asked Questions

Is it worth renovating a deceased estate in WA before selling?

It depends on the condition of the property and how much the renovation is going to cost. If the house hasn’t had any improvements for 30+ years it is generally best to leave it in an as is condition and let the buyer deal with it. A real estate agent would be able to give you specific advice.


How do I sell my parents house in a deceased estate in WA?

You need to be appointed the executor of the estate and you would have to apply for a grant of probate if there is a valid will before you submit your application to Landgate. The property can only settle when the name on the title is changed into the executors name. If in doubt, you should seek legal advice from an estate lawyer. 

Can I sell a house without probate in WA?

In theory you can sign a contract without probate but the property cannot settle until the title records at Landgate are updated. It is recommended to wait until Landgate has issued a new title before accepting an offer and selling the property.


Who controls a deceased estate in WA?

The executor is solely responsible for the administration of the estate. The nominated executor may appoint a real estate agent to act on his or her behalf but the executor remains legally responsible and liable for the estate. 


Can an executor sell property of the estate?

The appointed executor of the estate will need to have the property transferred into their name as the executor. If there is a Will in place the executor have to apply for a grant of probate before lodging the application to Landgate. The property can only sell when the name on the title is changed into the executors name as the executor of the estate. If in doubt you should seek legal advice from an estate lawyer. 


Can I sell property without probate?

Technically you can sell without probate but you cannot settle the transaction before the property is transferred via Landgate. Before you can submit an application to Landgate you need a Grant of Probate. The Grant of Probate allows the executor authority to proceed with distributing and handling the assets within an estate, including property .

 
How soon can a property be sold after a death?

You won’t be able to sell the home until probate has been granted and the title is changed via Landgate. Although you may put the property on the market, contracts can’t be exchanged or settled – so your buyer will need to be prepared to wait. The timeframe can differ and it will therefore make the sale more complicated.

Can you sell a deceased estate in ‘as is’ condition?

Yes, you can sell a deceased estate in “as is” condition but if buyers cannot do their own due diligence as part of the contract, it may turn off a portion of the buyers and you are likely to sell for a reduced price. 


How do I obtain a Grant of Probate in WA?

A Grant of Probate can be applied from the Supreme Court of WA and can take a while (months rather than days or weeks). It is not compulsory to use a specialist Estate Lawyer but it is recommended, as it is likely to speed up the process as an Estate Lawyer is an expert in this field.


Why do I need a Grant of Probate for a Perth property?

The Grant of Probate validates that the last Will and is the process of registering the last Will. Probate is required for changing the name of the title for any property in the estate. 


Which method of sale is best for a deceased estate?

The executor can choose any method of sale, however, an auction or an online auction is a popular method to ensure a transparent sale.


Capital Gains Implications when selling a Perth Deceased Estate

Depending on when the property was originally purchased and if it was the primary residence or an investment property, there may be capital gains implications. It is best to seek advice from your accountant as well as an estate lawyer if you are unsure of your situation or check out the ATO website. 

Note that generally speaking, the 2 year rule is calculated from the deceased’s death to settlement date (not contract date). For more details, please visit the ATO website  


At The Haus Exchange we are have acted as selling agent on a number of deceased estates and we are experts when it comes to deceased estates. We can help you removing the stress of being being an executor of a deceased estate and we have access to the right experts that can assist in making the difficult process easy. Just Get in touch here….

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Categories
Market Update Selling

Should you bother staging when selling?

One of our clients recently asked whether they should bother staging and styling their home for sale.

For us the answer to this is yes, yes and absolutely without a doubt YES! It also really doesn’t have to be all that hard and it makes a huge difference to the final sale price of your home.

In essence, it’s just about dressing your home up to look its best, so that it appeals to as many Perth property buyers as possible. In some properties, you can achieve this with just a little bit of decluttering and tidying. However, most of our client’s use our own in house and fully complimentary home staging service, the Haus Concierge to decorate the whole house with furniture and accessories, showing buyers just how easily they could live there in style.

Home styling is also perfect for empty or investment properties as some buyers can have a hard time visualising how they might live in a property without cues like furniture and accessories. Having a fully styled property means that they don’t have to think about this at all, as instead, they can immediately picture themselves moving right on in.

In the end, it is really all just about showcasing and targeting your property in its best light to all potential buyers. Professional home staging make the photos look fantastic, meaning that more buyers will want to come and view it in person. It could be the difference between a buyer choosing to put their time into visiting your home open over another Perth property listing, so why wouldn’t you.

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Selling

How much does it really cost to style and stage a Perth home for sale?

The cost of home staging in Perth can differ greatly depending on what type of property it is. The good news is that it could be less than you think.

Home staging in Perth

While home staging and styling has been a popular concept internationally and on the East Coast for many years now, only in the past decade has it been something home sellers in Perth have asked about.

As an experienced Perth real estate agent, I am often asked how whether home staging and styling is necessary for selling a house in this market. My answer is simple: These days, the reality is that you can’t afford not to style and stage your property for sale! There is a definite correlation between staging your home and the end result — the sale price and time on market. But more on that later.

First…what is home staging and styling?

First of all, let’s start by talking about what home staging and styling actually is.

In essence, it’s just about dressing your home up to look its best, so that it appeals to as many Perth property buyers as possible.

In some properties, you can achieve this with just a little bit of decluttering and tidying. However, in many cases, vendors use a dedicated home staging service like the Haus Concierge to decorate the whole house with furniture and accessories, showing buyers just how easily they could live there in style.

Home staging & styling is also perfect for empty or investment properties as some buyers can have a hard time visualising how they might live in a property without cues like furniture and accessories. Having a fully styled property means that they don’t have to think about this at all, as instead, they can immediately picture themselves moving right on in.

home staging cta

In the end, it is really all just about showcasing and targeting your houses for sale Perth in its best light to potential buyers. Professional home staging makes the photos look fantastic, meaning that more buyers will want to come and view it in person. It could be the difference between a buyer choosing to put their time into visiting your home open over another Perth property listing!

The advantages of home staging & styling in Perth

The advantages of property styling or home staging is that a well presented and properly staged home:

  • Stands out from the competition as it always looks more appealing
  • Helps potential buyers visualise what they can do with different spaces in a home
  • Accentuates spaces, updates the look of a property, and warms up empty or cold-looking spaces
  • Makes the most of those all-important first impressions.

So are there any downsides to home staging for vendors?

In my view, the only downside to staging is the cost, so let’s talk about that.

Much of the total property staging cost depends on how much furniture you need to hire and how many rooms you want to stage. Sometimes, the whole house needs to be staged. Others, it might just need a little bit of added flair here and there.

A full-service home stylist will usually charge for an initial consultation and you will also be up for the hire of furniture and accessories for the duration of the sales campaign (generally five to six weeks).

Current 2023 prices for property staging in Perth range from $2,000 to $10,000 depending on the size of the property, what you need and how long the sales campaign goes for.

To give you an idea of how much a full home staging package could cost you in Perth for a typical sale period of six weeks, expect to pay in the region of:

  • $1,995 for a one bedroom home
  • $2,500 for a two bedroom home
  • $4,500 for a three bedroom home
  • $6,500 for a four bedroom home
  • $10,000 or more for larger homes with five or more bedrooms

How to save on home staging & styling of your property

If this cost is too much, you could also engage the services of a virtual styling company. This is a company that will add digital furniture to your property photos so that those viewing the property online can still get some help visualising how the property would look if it was fully styled and furnished.

Virtual home styling can sometimes be a good option if the cost of full styling and staging is outside of your budget but, in my experience, buyers do still prefer to see real furniture and furnishings when they view the property in person. It is always the best way to generate an emotional buying response.

The most cost effective home staging solution in Perth

Alternatively, if your property is located in Perth, you could also take the very easy and the most cost effective approach of engaging our own styling and staging team at The Haus Exchange.

As part of our one stop shop property sales service, we offer free home styling and staging to all of our sales clients with our Haus Concierge service.

This service is always complimentary for our clients no matter how big or small your property is and no matter what your requirements are, you only pay a small fee for delivery!

Some examples of Perth properties that The Haus Exchange has fully styled and staged and, most importantly, SOLD are shown here.

We treat each property on an individual basis and select the best mix of furniture, plants and accessories to showcase it at its best. If you would like to request a complimentary home styling assessment and appraisal, just contact us or call 0466 725 866.

Does home staging affect your home’s sale price?

Over the past 10 years, home staging has become the norm in the Perth real estate market. Most local property experts agree that good property staging and styling can add an extra 5 to 10 per cent to a property’s sale price.

So whether you are weighing up choosing a vendor with complimentary a home staging service like our Haus Concierge service, or investing in another professional home styling option, calculate the value of up to 10 per cent of your expected home sale price and see if you think it is worth the investment.

In my opinion, the real question is — can you afford not to stage your property?

If you would like to know more about how we can help you, just get in touch below or call 0466 725 866.

Request a home staging and property appraisal now!

Summary

The cost to home staging & style your Perth home for sale can differ greatly depending on what type of property it is. The real question is can you afford not to stage your property as it could cost you thousands of dollars? The good news is that the investment could be less than you think.

Categories
Selling

Selling Your Property ? Here’s How….

  • Are you selling your own home?
  • Are you selling in Perth from interstate?
  • Are you selling a deceased estate?

Regardless of your situation, we can take the stress out of the entire process.

Whether you are at the other end of the city, living in another state, or even living overseas – we can do the dirty work for you.

That’s right. We’ll take care of everything.

Before going to market

We will prepare your property for sale which could include organising trades such as:

We will prepare your property for sale which could include organising trades such as:

  • painter
  • plumber
  • electrician
  • handyman
  • cleaner
  • even FREE staging and styling of the property

Marketing your property and negotiating

When it comes to marketing the property for sale, we are experts in generating urgency and competition for your property to ensure that you get the best possible price.

Post Sale

Finally, post sale we will continue to sort out all the practical stuff including organising the settlement agent, final inspections so you won’t have to lift a finger.

Just sit back and relax while our experts do it all.

Watch this 1 minute video below where Rasmus from The Haus Exchange explains exactly how the process works. 

Now that you’ve watched the video you may be wondering what’s next. Our team of experts will guide you on this journey. From staging to styling and everything in between. We can help sell your property remotely. Your first step is simple. Contact us today to get the ball rolling.  

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Selling

How to get a Buyer to pay more for your home.

Find out what motivates a buyer to pay more than market price for your property. This approach can be applied to most types of properties.

When you’re selling your property, you want the premium price, of course. But that’s not always the outcome. So why is that? 

To explain this a little bit more, we’ll look at the Olympics and your hundred metre final as an example. The reason why we’re getting world records (at the Olympics) is because the runners have transparency, they have competition. They’re pushing each other and it’s no different when selling a property or your home. 

If a buyer submits an offer and they know that they are the only buyer, they’re not going to pay any more than they absolutely have to and that is the problem with using private treaty as your sales method which is the most common method of sale here in Perth. 

The Agent is not allowed to disclose what to the other buyer’s offer price is. The Agent can disclose that here is another offer but as a buyer, you don’t know for sure if the Agent is telling the truth or not.

However, if the buyer knows that there are other offers on the table and they know how their offer ranks among the other offers, the lower priced buyer would be more inclined to offer more. With the transparency and the urgency, the fear of missing out kicks in.

To get competition for your home, you need the urgency and that is why that my clients, over the last couple of years when the market’s been down and the market’s been up, have been getting premium prices for their properties because we’ve been able to create urgency and competition using transparency. 

If you’d like to know more about how that can happen for your property, do get in touch Perth real estate for sale expert.

Sales Methods that are transparent. 

As a vendor, you want to sell for a premium price.

The best way (regardless of market conditions) to achieve that goal is through competition. To ensure that you get the best possible chance of generating competition, you need urgency and transparency. Click below to learn more about the different sales methods. 

Overview of traditional sales methods

Transparent sales methods

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Selling

Sales Methods that are transparent.

As a vendor, you want to sell for a premium price.

The best way (regardless of market conditions) to achieve that goal is through competition.

To ensure that you get the best possible chance of generating competition, you need urgency and transparency.

This is where the sales method comes in.

Traditionally, your choices are either private treaty or auction but in the past 3 years or so our clients have experienced great results with the following 2 methods.

  • Openn Negotiation – Auction style (but with flexible terms) approach
  • Openn Offers – Private treaty style approach but you can disclose pricing
openn-features-blog-3-Jan-15-2022-08-30-44-75-AM

Openn Negotiation

In an Openn Negotiation, all bidders are pre contracted – which confirms their commitment to purchasing if they are the winning bidder and provides authority for the auctioneer to transfer their specific terms to the final contract and execute on their behalf.  

Because Openn Negotiation operates under Auction Law, the highest unchallenged bid above reserve wins. As such you need an Auctioneer (complimentary when selling with The Haus)

Throughout an Openn Negotiation campaign, there is full price transparency. And just like an auction, the current bid (price) will be updated throughout the advertising.  

Openn Offers

As Openn Offers operates under a private sale or private treaty legal framework, the agent is able to control whether qualified buyers can see the prices submitted by other buyers via an on/off app setting. If the app setting is turned on, then buyers can see where their offer ranks in terms of price, providing greater transparency than traditional private treaty.

An Openn Offers campaign does not require an auctioneer and given it is not an auction, the agent would not reveal any prices outside of the platform. Only qualified buyers are informed of the price ranking through the app.

Openn Offers also allows the vendor, guided by the agent, to accept an offer which may have a lower price but more favourable terms.  They may also accept any offer at any time – which means they don’t have to proceed to the final stage.

Shared features

There are a number of shared features the Openn platform offers across all sales methods. These include:

  • A countdown timer and final stage to help build anticipation, competition and bring each process to a close. 
  • The capability to turn on or off the registration of interest feature. 
  • Contract automation – so agents can execute the final contract of sale by uploading any document, applying the fields they’ve captured from buyers and routing it for digital signatures. 
  • The ability to embed a “make a bid” or “make an offer” button directly onto an agents’ website and,  
  • A property report which can be automatically generated as a PDF at the end of the campaign with statistics on how the sale ran.  

Which method should you choose?

It really depends on your property and your situation.

If you believe that there will be strong competition for your property or you are unsure of market price for your property, then Openn Negotiation is the way to go.

On the other hand, if your property is less likely to attract strong interest or price is not the most important factor, then Openn Offers is the way to go. You can also start with a traditional campaign and switch to an Openn Offers campaign as soon as you receive multiple buyers.

At this point in time, you can switch between the two campaign styles at no extra cost.

That’s a wrap! Hopefully this helps you to understand the key differences in features between the sales methods available on Openn.

If you would like to learn more, simply get in touch here.

(Images and text supplied courtesy of Openn)

Categories
Selling

Should you sell before you buy or buy before you sell?

Similar to the chicken and egg scenario, one of the greatest conundrums when transacting property is: do you sell before you buy or buy before you sell?

There’s a few points to consider if you’re in the market for a new home, especially if you are considering the subject to sale option.

Finances

Depending on your financial capacity, buying a property before you sell your existing home is a good position to be in. It gives you the option to search for something that meets all of your needs without any time pressures.

But for most of us, this scenario is uncommon. There’s not many who have the financial ability to stump up for two mortgages at the same time, so it’s important to crunch the numbers before you take the plunge and make an offer on your dream home.

Subject to sale

One way to buy before you sell without having to simultaneously fund two mortgages is to include a “subject to sale” clause in your offer. While this can be a solution, there are some underlying issues that mean a “subject to sale” clause might not be all it’s cracked up to be.

For example, you can’t be absolutely sure how long it will take to sell your home so there’s going to be an element of uncertainty if you’re traversing this path.

It’s also possible for the seller to instate a 48-hour clause, which means that the vendor can continue to market the property and stage home opens as if your offer is not even on the table. If the vendor receives an offer from another buyer, they are well within their rights to accept it but will give you a period of 48 hours to make your offer unconditional.

Alternative approaches can be especially enticing if they’re a cash offer, even if it’s of a lesser value as it may be perceived to be less of a risk than an offer that relies on sign-off for a new loan.

Get your ducks in a row

It’s widely accepted that the best process is to list and sell your existing home before you make an offer on a new abode. That way, you’re not overextending yourself or adding to what can already be a stressful situation.

Ensure your finances meet your expectations for your dream home. Take the time to speak with you mortgage broker or bank about how much you owe on your existing home, what equity you have and how much you can borrow.

Research real estate agents and speak to some trusted realtors to get an idea about how much your property is worth in the current market. It’s also worth conducing your own inquiries about the prices of similar properties are fetching in your neighbourhood.

What if I sell before a buy?

There are a few things to consider if your home gets snapped up before you find a new property.

  • Request a long settlement. Usually, settlement periods are between 21 to 28 days once finance is unconditionally approved. But it’s worth trying to negotiate a longer settlement if you don’t have a new place to call home
  • Is it possible to rent your home back? If you’re hopeful of becoming a tenant in your own home, include a condition on the offer and acceptance agreement for the buyer to consider.
  • It might not be an ideal situation but you might want to consider moving in with family or friends or to a rental property as a short-term solution until you find the next home you want to purchase. It might be an opportunity to pay no or minimal rent and save more towards your next bricks and mortar investment.

Additional costs

As well as fees and commissions paid to a real estate agent for marketing and selling your home, it’s important to be aware of any additional costs that you may be presented with during the process.

If you are looking to sell an investment property, you will need to consider capital gains tax.  You will also be expected to pay stamp duty and settlement fees on your new home. And depending on how much you are looking to invest in marketing your existing home for sale, there may be extra maintenance or property staging costs to pay for to ensure the property looks its best when it’s put on the market.

How is your property value tracking in this shifting market?

Why guess when you can just ask us for a Digital Appraisal of your home or investment property. If it’s been on your mind, but you haven’t had the chance to arrange an appraisal or you would prefer to let your tenants have their privacy, this is your chance to stay informed without the hassle. 

Simply get in touch with the property address and a brief description so that I can send you an estimated value based on similar homes sale over the past 12 months.

This report costs nothing and is totally obligation-free, so why wait? Simply get in touch and I will send you the report including market research and comparative market sales within 24 hours.

Also find stage house for sale in Perth

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Selling

Should I sell my investment property with or without tenants?

Finding the right answer will be a delicate balancing act for any investor and one that requires significant consideration well before you erect the ‘for sale’ sign.

For some, how to sell an investment property will relate to cash flow so it’s likely your decision will largely be based on whether you can afford to have it vacant while it’s on the market and you wait for settlement.

Retaining the tenant

The most attractive reason for retaining tenants while the property is for sale is that you will be able to keep earning rental income. This will remove some of the time pressure and hopefully enable a higher price.

But be aware that if the tenant is on a periodic lease, they may decide to vacate at short notice and this could cause upheaval during the marketing period.

Selling while a tenant has occupancy can also throw up a few challenges, particularly when it comes to access and presentation.

Access to the property can become an issue depending on the tenants you have. For example, if the tenant is a shift worker and sleeps during the day it may not be possible to show prospective buyers through during daylight hours.

While tenants are required to provide agents with ‘reasonable access’ to a property that is for sale, some can be uncooperative and difficult.

In addition, presenting the property in a clean, welcoming state is important. Sometimes a tenant’s clutter, pungent cooking smells or the two bedrooms jam-packed full of Star Wars collectables or their 30-year teddy bear collection might not help to present the property at its best.

Having a tenant will also mean you have little to no control over presentation of the property, especially if the renters’ standards are not in line with your expectations.

Some tenants keep rental properties in pristine condition and invest considerable time and effort cleaning and tending to the gardens. But others, particularly share houses, can leave a lot to be desired when it comes to presentation.

It’s also worth remembering that even if tenants are helpful and generally tidy, their furniture and personal belongings may not showcase the property at its full potential.

Selling your investment without a tenant

Marketing a vacant home may make the property appear less welcoming, so there’s a good argument for having an expert “stage” or “style” the property with the right furniture and furnishings that makes the most of the space.

“Quite often after a property has been tenanted for a while it needs a bit of TLC, but the downside is that you’re not going to have a rental income for three or four months so cash flow could be an issue,” said The Haus Exchange proprietor Rasmus Nielsen.

“At The Haus Exchange, we understand that primo presentation can ultimately result in a higher sales price and that’s why we offer a complimentary styling service for new listings.

“The Haus Concierge service is an exclusive offering where we can arrange a staging consultation, organise quotes and coordinate the experts to make sure the property looks its best from the first day it hits the market.”

How is your property value tracking in this shifting market?

Why guess when you can just ask us for a Digital Appraisal of your home or investment property. If it’s been on your mind, but you haven’t had the chance to arrange an appraisal or you would prefer to let your tenants have their privacy, this is your chance to stay informed without the hassle. 

Simply get in touch with the property address and a brief description so that I can send you an estimated value based on similar homes sale over the past 12 months.

This report costs nothing and is totally obligation-free, so why wait? Simply get in touch and I will send you the report including market research and comparative market sales within 24 hours.

Request a property appraisal in Perth from an experienced real estate expert.

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Categories
Market Update Selling

It is a crazy market. What is the value of your Perth property in 2022?

HAPPY NEW YEAR! I hope you had a chance to relax and recharge over the Christmas/New year break!

The challenges in 2021

During 2021, we experienced some challenges including preparing a home for sale that was left vacant for nearly 2 years due to covid. With the help of our trusted trades contacts, the home came up like new and sold for a fantastic price with a very happy vendor as a result.

The Haus Exchange has prepared, staged and sold more homes and investment properties in 2021 thanks to your support and we have increased our staging capacity for 2022 as the flow of repeat clients and referrals increase.

In 2021 we have sold in more than 13 suburbs with sales prices ranging from the $300k range all the way up to mid $2 million range helping 62 buyers and sellers making a move.

What you can expect from 2022.

2022 has barely started but already buyers are thick on the ground and property prices are strong.

Over the past few months, we have seen a big increase in buyer demand and strong levels of buyer confidence.

To help our valued clients keep up to date with the current market, we are offering a market update so you can discover the NEW 2022 value of your property. It’s complementary and part of the service we offer our loyal clients.

What will you receive?

  • We will assess the current market value of your property
  • You will discover the NEW 2022 value of your property
  • We will supply a detailed market report of properties sold in your immediate area over the past three months.

REIWA is expecting that the Perth property market is in for an 10% increase in 2022 and in fact, we’re finding many of our clients are surprised when they discover the NEW value of their property.

If you would like to know the NEW 2022 value of your property, please get in contact with me on 0466 725 866 to arrange a time.

Categories
Selling

3 tips on how to generate more interest for your Perth property from interstate buyers.

Lately, at the Haus Exchange we have experienced a significant increase in the number of enquiries from interstate.

As a result, we have sold a number of properties to buyers who never actually personally inspected the property at all.

For instance, for one property located at 14 Velvetene Rd, out of the 9 registered buyers, 4 have not inspected the property, with

  • 2 buyers from NSW,
  • 1 from Tasmania,
  • as well as a buyer from regional WA .

In this quick 1 minute video I am sharing my top 3 tips on how you can generate more interest for your Perth property from interstate buyers, who would be looking at buying your property, sight unseen.

For more tips and the latest updates, please connect with us on Instagram and Facebook

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