Ten Common Mistakes To Avoid When Selling Your Home

Selling your home isn’t something that you do every day-unless you’re a real estate agent. Over the years I’ve honed my skills in learning what works when it comes to selling your home, as well as what doesn’t.

Fortunately, other people have made these mistakes so that you don’t have to!

1. Ignoring an estate agent’s style tips

We all develop personal connections to our homes, but sometimes those connections mean that it’s hard to see our home through the eyes of a potential buyer. An experienced agent should know how to present your home in a way that will maximise your home’s selling potential.

2. Underestimating the importance of street appeal

First impressions matter, and potential buyers driving past or inspecting your home will take notice of your property’s exterior. In my experience, people buy in the first five seconds and justify throughout the inspection. Make a good impression from the outset and keep up to date with the mowing and weeding!

3 Under-investing in marketing

A targeted, wide-ranging marketing campaign designed to reach as much as possible of your buying audience is essential. Buyers fall into different groups and demographics, and a high quality marketing campaign will reach out effectively to all of these.

4. Not being switched on about going online

In our office, it’s where about 90% of our buyer enquiry comes from. The more you invest here the better. Only a small percentage of buyers look beyond the first page of property search results!

5. Being afraid to commit to a sale price

Committing to a sale price isn’t an easy task, but it’s one that should be a much easier decision when you consider that almost half of all potential buyers will pass over properties with no listed price. Why? It seems too hard, or worse, they fear it will be out of their range. Take the plunge and name a figure.

6. Holding out for a better price

Though it can be tempting to wait for a better offer, the property market doesn’t play by the rules of Who Dares Wins, so think twice before rejecting that initial offer. In my experience, often the first offer is the highest we’ll receive, and almost every record price we achieve comes from an offer made within the first thirty days.

7. Taking offers personally

A low offer on your property is not a reflection on you, or even on your home. Instead, they’re representative of a willingness to commit to opening negotiations. I always encourage vendors to see a low offer as a starting point rather than a final figure.

8. Opting for appointment-only viewings

Although there is the odd exception, for the most part opening your home for inspection is essential to ensure it’s seen by as many potential buyers as possible. We get around 10 times the buyer traffic if it’s open for inspection as opposed to by appointment viewings.

9. Cutting costs when choosing a real estate agent

If you think the best agent is expensive, try hiring the second best & see how much that costs you!

10. Failing to keep up with property maintenance

It’s almost always cheaper to do it yourself than to let the buyer use it as leverage for a price reduction.

I recently sold a home in Aspley where the building and pest report identified multiple maintenance issues at an estimated repair cost of $15k! As expected, the buyer tired for a $15k price reduction. I intervened & re-quoted with a local trusted trade and they seller got the job done for $3k. Fortunately, I managed to salvage the deal without a price reduction. However this could have been avoided or worse the deal could have fallen through.

So call that plumper you’ve been avoiding! For real estate Aspley, contact Justin Watt of Watt Realty today.

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Why upgrade to enterprise risk management?

The Global Financial Crisis taught us the importance of robust risk management practices in identifying and addressing issues that have the potential to impact on overall business objectives. Many organisations have implemented risk management programs, however a significant proportion of these have yet to realise the benefits of upgrading their programs to best-practice Enterprise Risk Management.

What’s the problem with traditional risk management programs?

Historically, risk management has tended to focus only on the negative – how do we identify what might go wrong? How bad will things get if it does? How can we stop it?

Another feature of old-fashioned risk management has been the tendency for it to be “siloed”, with each section of an organisation having its own approach to managing risk.

Modern, best practice Enterprise Risk Management has moved contemporary risk management programs and thinking beyond these limitations.

Why is Enterprise Risk Management better?

Enterprise Risk Management (also known as ERM) has a range of benefits for contemporary businesses:

  • ERM achieves efficiencies across the whole of the organisation by integrating a common approach throughout all functional areas.
  • ERM avoids the pitfall of concentrating on minor risks (such as slip hazards) at the expense of big picture risks (such as failure of critical infrastructure).
  • ERM captures the positive side of risk management, by also considering opportunities for new services, process efficiencies, improved methods of service delivery etc.

What strategies assist adoption of Enterprise Risk Management?

 

QRMC frequently assists organisations to develop or expand their risk management programs to embrace Enterprise Risk Management. Our experience suggests that useful strategies to successfully move to Enterprise Risk Management include:

  • Strong committed, visible leadership.
  • Recognising that risk management is an ongoing (not once-off) process.
  • Treating risk management as a tool to achieve business objectives, not as a compliance exercise.
  • Extensive consultation with, and training of, personnel (at all levels).
  • Consistently integrating ERM across all systems and functional areas within the organisation.

Special considerations for business or department amalgamation

 

A regular feature of contemporary business is the process of amalgamation, either of existing segments of an organisation, or of one business with a completely independent second business (M&A).

Determining the business objectives of a new organisation formed in this way is not always a straightforward exercise. The clarity provided by the risk management process greatly assists this determination.

However, amalgamation poses particular difficulties when it comes to the risk management program:

  1. There are often difficulties involved in assimilating risk-related information from different sources, produced using different methods.
  2. Amalgamation poses the threat of extending the commonly experienced problem of risk management “silos” (as mentioned above) even further by creating silos based on the original business or department entities.

On the positive side, these difficulties present an opportunity to reach solutions by upgrading existing risk management systems to Enterprise Risk Management. Moving the new entity to Enterprise Risk Management provides opportunities to:

  1. Clearly identify the objectives of the new entity, and what risks and opportunities exist in achieving these objectives.
  2. Break down barriers and foster a new organisation-wide approach to risk management and the determination of uniform risk appetite.

Next steps

 

Risk management as a discipline has proven its value over time. Now businesses can extend this value even further by upgrading to Enterprise Risk Management.

For more information on Enterprise Risk Management, safety management, business continuity management and management systems, contact us. We are experts in providing independent and objective facilitation of the process of upgrading or developing new Enterprise Risk Management programs. You can also access other informative articles on our News page dealing with Enterprise Risk Management, as well as newsletters downloadable from our Publications page covering Enterprise Risk Management issues.

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Reflections on Life

Life – what is life! Life can be described in many ways and has many facets and interpretations. It presents us with an ongoing stream of experiences of situations, events and interactions of all kinds with other people and our environment.

It is creation in its magnificent splendour – the original bringing into existence of the universe by God.

For humans it is a journey encompassing all the seasons, colour and streams of life’s experiences.

The miracle of new life in any form of creation brings wonder and amazement as we become aware of the intrinsic formation of such an unexplainable divine plan.

For humans there are many rituals and traditions that help celebrate the different seasons and significant moments in life.

A welcoming of a new child might entail a ritual of a Christening or Blessing in the Christian tradition or perhaps a Naming Ceremony for those less religious. In other cultures and belief systems children are welcomed in a variety of ways but none-the-less mostly it is found to be a joyful celebration of the miracle of new birth.

Life can sometimes be brief – the miracle taken back from where it began just as life is beginning – the mystery of why these sad experiences happen not to be explained.

Life changes for humans as the body grows and life is experienced in new ways. Learning takes place as the brain develops and intelligence is gained and used for the betterment of human kind.

At times the human body suffers from physical limitations this being a challenge as strength of spirit and courage come to the fore.

During the seasons of life ritual is shown to be important such as times of celebration when a person reaches the age of eighteen – a time of maturity and starting out as an adult on life’s journey.

Permanency of relationships can be celebrated by the ritual of Marriage as people start a new chapter along the journey called life.

The miracle of new life can emerge again in this relationship of Marriage as a new life is created and welcomed to the world.

As the continuing seasons and cycles of life are observed, life can represent colour as of a rainbow in these seasons of new beginnings, celebrations, changes and endings.

Red, orange, yellow, green, blue, indigo and violet – colours of the rainbow – how symbolic of life’s journey as the rainbow is composed of the entire spectrum of colour from the shortest wavelength violet to the longest wavelength red.

A closing ritual now takes place as the body has accomplished its purpose and the ending of life as humans know it is honoured and the life celebrated as the spirit travels back to the Divine from whence it came.

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This article supplied by Sandra Hill, Brisbane Wedding Celebrant. For more information about Sandra Hill, weddings, renewal of vows and naming ceremonies in Brisbane, please contact Sandra today.

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Bitcoin for Brisbane Businesses

Bitcoin, an often overlooked cryptocurrency, is left unaccepted and unnoticed by many business owners. Unfortunately, failing to accept this currency is a mistake that is made by many Brisbane non-Bitcoin businesses. Here is why it is a good idea for your business to join the digital technology age and start to accept the exponentially growing Bitcoin.

Reason 1: Fiscal Freedom
Simply put, consumers and business owners alike have total and full access to their Bitcoin accounts. No longer will money be inaccessible because of an unexpected bank closure, holiday, or other condition that would typically limit access to money. No money is lost through currency exchange if it must be sent overseas, since Bitcoins are worth the same in every country and locale.

Reason 2: Fees (or lack thereof)
When hearing about a new way to transfer money, the first question of business owners is often whether there are fees, or how much the fees are. Some transactions are completely free, and there is no fee assessed. Users may pay to speed up Bitcoin transfers in Bitcoin Brisbane, but there is no obligation to pay otherwise. If fees do need to be assessed, users can count on them being far less than banks, PayPal, and credit card companies currently charge.

Reason 3: Lower Risk
Merchants and consumers often worry about identity theft. Consumers are afraid that their money will be accessed without their consent by either the merchant or a malicious third party. Merchants are often worried that consumers will use someone else’s payment information, making the money no good. Fortunately, Bitcoin takes care of all of these worries. Due to a highly sophisticated encryption mechanism, the Bitcoin wallet owner is the only person who will ever be able to initiate transfers. Unlike credit cards, where malicious payment receivers may make unauthorized transactions, or which consumers can steal and use for their own purposes, Bitcoin transfers are completely trustworthy and secure.

There are also certain types of markets where the fraud risk is large. In these cases, merchants can now accept Bitcoin and do away with the risk. In short, Bitcoin transfers in Brisbane have never been safer or easier or cheaper. Compared to the current major payment options, it certainly is superior.

Reason 4: Security
As alluded to above, security was a primary concern during the creation of Bitcoin, and it is also of concern to Bitcoin’s diverse range of users. One aspect of security not yet discussed revolves around personal information. One reason why consumers may not wish to purchase a product is because they may not yet trust the business with all of their personal information. While, unfortunately, this is a completely valid concern, accepting Bitcoins in Brisbane can help to put the consumer’s mind at ease, and allow him or her to make a purchase he or she otherwise would not be willing to make.

Bitcoin protects personal information insofar as it obliterates the need for it. Instead of relying on information like address, postcode, first and last name, and sometimes even identity numbers, it relies on cryptography. Of course, one reading this may think that because it’s only digital, it will be lost if the user’s computer suddenly crashes and becomes unusable. However, nothing is further from the truth. Many Bitcoin users take advantage of both cloud and local computer backup services to ensure that they will always have this open access to their money, making the Bitcoin market even more stable.

Reason 5: Owned by the People
This final reason to accept Bitcoin is often overlooked. If one takes a look at the various major payment methods, it is quite obvious that they are all owned by major corporations. This makes alteration of information easy. There is essentially no transparency to how they are run, or how much of a fee is actually required to sustain the service versus how much of it serves as profit. Fortunately, there is no need to worry about any of this if you are accepting Bitcoin in Brisbane. It is literally impossible to control the Bitcoin market, even for the creators of it. In this sense, it is more secure. Also an important factor, all information anybody could possibly want about the Bitcoin market, including how many are in circulation, and even specific transactions, are all available publicly on what is called the “block chain.”

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