SPECIAL MESSAGE FROM CAPORN YOUNG CEO RICHARD YOUNG

It’s amazing how time flies. Here at Caporn Young, we’ve just celebrated the anniversary of our tenth year in business. And to mark the occasion, we took our entire team on a company trip to the state’s beautiful South West. This gave us a chance not only to commemorate the milestone but also to reward our team members for all the hard work they have contributed to the business.

I believe we have achieved a great deal since our humble beginnings back in 2001. The road travelled hasn’t always been an easy one but there is definitely a lot to be proud of. It’s extremely satisfying knowing that we have contributed positively to the lives of thousands of people in our community and built a brand that is widely regarded in our industry. We have been honoured on numerous occasions with prestigious awards, including our recent ARERA Agency of the Year (Metro) Award, which is always a humbling experience.

I’m also incredibly proud of the quality of the marketing tools we have developed over the years, from our premium brochures to our weekly email bulletins and this fine monthly magazine. We have also pioneered a number of strategies designed to help achieve a premium sale price for our clients, as well as systems that have increased the efficiency in which we can bring a property to market. 

Looking ahead, I want to continue to lead the market with our initiatives, exceed the expectations of our clients and set new standards in our service. However, it’s equally important to me that Caporn Young remains a fun and vibrant company where each team member is valued for their contribution to our collective success.  While we may never reach perfection, I’m certain that we’ll continue to strive for it.

PICK A NUMBER, ANY NUMBER

When it comes to appraising a property, you could be forgiven for thinking that some agents simply pluck a figure out of thin air. And, sadly, many of them do. Or worse, they intentionally inflate the appraisal price to help win the listing.

At Caporn Young, appraising a property involves a very scientific approach of gathering information and then using local knowledge to arrive at a realistic price range. We follow a step by step process, refined over many years, that includes walking systematically through the property, asking key questions of the seller, and of course researching comparable sales.

The knowledge we gain not only helps to produce an accurate appraisal price, but it is vital when we go to sell the property. Without an in-depth understanding of a property, with its features and unique characteristics, an agent cannot be an effective salesperson.

Having detailed knowledge of the property, as well as of similar properties sold or on the market, ensures buyers don’t catch the agent off guard with important questions about the property.

But it’s not just about overcoming buyer objections. The more knowledgeable an agent is, the more enthusiastic he or she will be when selling the property. And this in itself is a valuable asset.

THE BACKUP BUYER

It’s the perfect insurance policy: the backup buyer.

Imagine you’ve just put your property on the market and to your great pleasure you receive an offer on it almost immediately, which you happily accept. Then, blue skies turn grey when the sale falls over. But worry no more as your hard-working agent quickly resuscitates the situation and presents you with a comparable offer.

That’s what happened recently with a property located by the river in Maylands. After the buyer withdrew from the sale, negotiations immediately commenced with a second "backup" buyer who submitted an almost identical offer and secured the property. Clearly, the job of an agent doesn’t stop when an offer is accepted. A smart agent will do everything possible to stay in contact with other potential buyers until the sale becomes unconditional.

Looking at the past weekend, we expected strong activity and we certainly weren’t disappointed. We spoke with many buyers who have recently entered the market and our team achieved some great results, which rounded off an excellent month for clients of Caporn Young. Our unique selling strategy, which is designed to boost competition amongst buyers and effectively turn a buyers' market into a sellers' one, continues to pay dividends.

GREEN SHOOTS EMERGING

Look closely enough and you’ll see something remarkable... little sprouts of new growth.

It might not be obvious to the untrained eye, but every week we’re seeing clearer and clearer signs that buyer confidence is returning. We’re nowhere near the seller’s market of years past, but there is definitely plenty to be positive about.

We saw a healthy amount of activity over the last seven days, with the majority of our team recording good numbers through their home opens. It’s quite pertinent to note that over the last two weeks, when many were enjoying time off with their children, we managed to achieve some impressive results.

One of the recent highlights was the sale of a stately landmark home in Fremantle, which went under offer for a healthy price in excess of $2.5million. With sweeping views and superior craftsmanship, it’s no wonder that a number of buyers were interested in this elegantly restored home. However, most were left to regret their inaction after one buyer stepped forward confidently and agreed a sale.

Why not get out there this weekend and take a look for yourself. You too will notice the green shoots of a new market emerging.

TROPICAL DESTINATION

While some people are dreaming of a tropical destination at this time of year, others are buying one.

The ink is barely dry but we just negotiated the sale of a beautiful tropical inspired home in Bay View Terrace, Claremont. This 3 bedroom property, with its stunning bathrooms and chef’s kitchen, offers the free-flowing indoor-outdoor living that is reminiscent of being on holiday in a tropical location. Negotiating the sale of this property was no holiday however and it came down to listening and understanding the goals and desires of both the buyer and the owner to achieve a very successful outcome.

Around the traps, it was interesting to see how few properties were opened over the weekend. The agents who did open on the weekend were however rewarded for their efforts by good attendance. Some of our team members reported large number of groups through their homes and the quality was overall very good.

We also received a lot of appraisal requests over the weekend from people getting ready to bring their property to market in spring. Given there is already a fair amount of stock on the market, it will be interesting to see what happens in spring when the normal flood of properties arrives. If you’re waiting for spring to sell your property, consider bringing it to market in August to get an advantage over the competition.

GREAT MIGRATIONS

It’s one of nature’s great migrations. A time when herds of teenagers colonise the local shopping centres and swarms of Perth residents invade Bali’s shores. School holidays are here.

Although the real estate market traditionally quietens during this period, our team is clearly not resting. We are continuing to make the most of improving market conditions by negotiating a number of excellent sales.

One of the highlights of the past week involved a beautiful property in North Fremantle that went under offer at the full asking price. This enchanting executive home, which overlooks a park, captivated buyers with its sublime sun lit interiors and French provincial styling.

The successful buyer was rewarded for being decisive, while other buyers who failed to make a move later expressed their regret at missing out on the property.

While we are expecting buyer activity to slow somewhat this weekend, it’s definitely business as usual at Caporn Young.

If you are planning a great migration of your own during the school holidays, please be safe and I look forward to seeing you back in the market shortly.

PLANNING THE KEY TO SUCCESS

For many would-be buyers, attending home opens involves a lot of careful planning and coordinating. Lists are made, maps are drawn, research is conducted, and journeys are calculated with military precision.

And judging by what we observed over the weekend, it seems that not even extreme weather can interrupt the plans of determined buyers. Despite the almost torrential rain, our home opens were surprisingly well attended and overall we met some motivated buyers and negotiated a number of good deals.

Speaking of planning… now is the perfect time to get the ball rolling for anyone thinking about selling a property during the traditionally-busy spring selling period. You should be thinking carefully about the presentation of your property, both inside and out, and talking with your agent about an appropriate selling strategy for your property.

When spring arrives, buyer activity tends to increase, which obviously makes it a great time to sell. But there is also a lot of competition during this time with many properties coming to market. So, those who can get the jump on spring and, with the help of the right agent, get to market before the traditional spring crowd will clearly be positioned to get the best result.