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Property insider
Two years ago Mark amalgamated his own office with the Professionals in Muland happy after having a lumbimby. With their offices wonderful holiday at one of at Mullumbimby, Brunswick our luxury residences,’ says Heads and Ocean Shores, Jane. there’re 20 staff and 250 years of real estate experiMark Cochrane of Mark ence working for buyers and Cochrane/The Professionals sellers. ‘Our Mullumbimby Mullumbimby Real Estate office has just been awarded has been in real estate for top Professionals office on Byron Bay Property Sales nearly five decades (this is the eastern seaboard, which have another brand, Byron his 49th year to be exact!). shows the level of local trust Bay Luxury Homes, which we have earnt,’ says Mark. He was the youngest licensed specialises in managing real estate agent in NSW at Mark is handling the sale of some of Byron Bay’s most the age of 22 and also the luxurious and exclusive the last release of industrial properties, located in some youngest valuer at 23! land in Mullumbimby, at of the most idyllic parts of Now Mark says he’s probTowers Industrial Estate. Byron Bay. Eight of the eleven allotments ably the oldest real estate have already sold. As they They have a specialised agent working in the shire are the last and in very short team, comprising Jane, – although he is happy for supply Mark believes they Amanda and Liz (pictured). someone to dispute that represent a good investment Each member brings a particular claim! option for small investors. depth of experience and flair to the job. Their mission is HAVE ANYTHING TO to makes each guest’s stay go LET US KNOW ABOUT? Any new faces? Career from ordinary to extraordimilestones? Exceptional nary. ‘It’s the attention detail results? Market observations? and the finer touches. There Have you had anything quirky or unusual happen to is nothing more fulfilling you out in the field? Email than seeing a guest check propertyinsider@echo.net.au. out looking totally relaxed
New underquoting laws now in effect A review of the previous underquoting laws found that clearer requirements for agents selling property would offer better protection for consumers. The laws, which came into effect on 1 January, will help clarify how agents are to market properties in relation to price. Under the new legislation, an estimated selling price must be provided in the agency agreement and the agent must give the seller evidence of the reasonableness of the estimate given. They will need to show that their selling price estimates were reasonable, up to date and evidence based.
tised, they must be advertised with either a single price or, if the property is advertised with a price range, the top figure must be no more than 10 per cent of the lower figure. Previously it was difficult to effectively enforce the laws and penalise agents for underquoting. Now, from 1 January 2016, agents face tougher penalties that apply even if they were not aware of the law, or did not intend to break the law.
All agents must provide evidence that their estimate is reasonable and Fair Trading inspectors can demand that evidence. If it is found that the estimate isn’t reasonable, based on the evidence, the NSW Fair Trading cauagent is guilty of an offence. tions sellers when selecting When properties are adver- an agent. It is tempting to
choose an agent because their estimated selling price for the property is considerably higher than other estimates provided by competitors. However, this could indicate that the agent doesn’t understand the market and that the estimate is not reasonable. Fair Trading also points out that simply because a property sells for more than expected, this does not mean underquoting has occurred. Sometimes competitive buyer behaviour can result in a much higher sale price than an agent could have reasonably estimated.
SCOTT HARVEY 741 Fernleigh Road, Brooklet NSW 2479 02 6687 8154 0412 296 872 www.scottharveyrealestate.com.au sales@scottharveyrealestate.com.au Op
en
Sa
Federal
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1–
11
.45
Interest from $885,000
SUPERB 10 ACRES WITH DESIGNER SHED 575 Binna Burra Road
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0412 296 872 ƐĂůĞƐΛƐĐŽƩ ŚĂƌǀĞLJƌĞĂůĞƐƚĂƚĞ͘ĐŽŵ͘ĂƵ
Bangalow
4
2
3
GRAND CHARMER ON 1 ACRE IN BANGALOW ϭϬ ZĂŌ ŽŶƐ ZŽĂĚ This magical northern rivers home with oversized ǁƌĂƉĂƌŽƵŶĚ ďĂůĐŽŶLJ ŝƐ Ă ĚĞĮ ŶŝƚĞ ƐƚĂŶĚŽƵƚ͘ ůŽƐĞ ƚŽ ƚŽǁŶ͕ ƚŚĞ ƐůŽƉŝŶŐ ŐƌŽƵŶĚƐ͕ ƐƵƌƌŽƵŶĚŝŶŐ ƚƌĞĞƐ͕ ĐƌĞĞŬ ĨƌŽŶƚĂŐĞ͕ ĂŶĚ ƌĞƐŝĚĞŶƚ ĂŶŝŵĂů ĂŶĚ ďŝƌĚ ůŝĨĞ ŵĂŬĞ ƚŚŝƐ ƉƌŝǀĂƚĞ ƉƌŽƉĞƌƚLJ ǀĞƌLJ ƐƉĞĐŝĂů͘ zŽƵ ǁŝůů ůŽǀĞ ƚŚĞ ĐŚĞĨͲƐƚLJůĞĚ ŬŝƚĐŚĞŶ ĂŶĚ ƚŚĞ ŵĂŝŶ ůŝǀŝŶŐ ĂƌĞĂ Ăƌƞ ƵůůLJ arranged to create an ambience of ĐŽŶƐŝĚĞƌĞĚ LJĞƚ ƵŶƉŽůŝƐŚĞĚ ĞůĞŐĂŶĐĞ͘ ĚĚŝƟ ŽŶĂů ĨĞĂƚƵƌĞƐ ŝŶĐůƵĚĞ ĂŶ ĂƌĞĂ ƌĞĂĚLJ ƚŽ ďĞ ƉĂƌƟ Ɵ ŽŶĞĚ ĨŽƌ ĨƵƌƚŚĞƌ ƌŽŽŵƐ͕ ϯ ĐĂƌ ƐƉĂĐĞƐ͕ Ă ƐĞĐƵƌĞ ĂŶŝŵĂů ĂƌĞĂ ĂŶĚ Ă ĨƵůůLJ ƉůƵŵďĞĚ ƐƚƵĚŝŽͬ ^ĐŽƩ ,ĂƌǀĞLJ ĐĂƌĂǀĂŶ ůŽĐĂƟ ŽŶ͘
0412 296 872 ƐĂůĞƐΛƐĐŽƩ ŚĂƌǀĞLJƌĞĂůĞƐƚĂƚĞ͘ĐŽŵ͘ĂƵ
Interest from $1,375,000
Op en Sat 10
Fernleigh
4
2
4
Pool
VIEWS, LIFESTYLE AND AFFORDABLE 281 Fernleigh Road
–1 0.4 5a m
Minutes from Tintenbar and Newrybar this extremely ĨƵŶĐƟ ŽŶĂů ƉƌŽƉĞƌƚLJ ŽŶ ϯ ĂĐƌĞƐ ŝƐ ƚŚĞ ƉĞƌĨĞĐƚ ĐŽƵŶƚƌLJ ƌĞƚƌĞĂƚ͘ dŚĞ ƐŝŶŐůĞͲůĞǀĞů ŚŽŵĞ Žī ĞƌƐ ŐƌĞĂƚ ĞŶƚĞƌƚĂŝŶŝŶŐ ƉŽƚĞŶƟ Ăů͕ ǁŝƚŚ ƐƉĂĐŝŽƵƐ ŬŝƚĐŚĞŶ͕ ĚŝŶŝŶŐ ĂŶĚ ůŝǀŝŶŐ ĂƌĞĂƐ͕ Ă ŵĂŝŶ ďĞĚƌŽŽŵ ǁŝƚŚ ĞŶƐƵŝƚĞ ĂŶĚ ŽǀĞƌƐŝnjĞĚ Žĸ ĐĞ͘ tŝƚŚ Ă ŶĞǁ ƌŽŽĨ͕ ƐŽůĂƌ ŚŽƚ ǁĂƚĞƌ͕ ĂŵƉůĞ ǁĂƚĞƌ ƐƵƉƉůLJ͕ ŚŽƌƐĞ ƉĂĚĚŽĐŬƐ͕ ƐƚĂďůĞƐ ĂŶĚ Ă ĚƌĞƐƐĂŐĞ ĂƌĞŶĂ͕ LJŽƵ ǁŝůů ůŽǀĞ ƚŚĞ ĞĂƐLJ ĂĐĐĞƐƐ ƚŽ Ballina (10 minutes away) and fabulous beaches only 12 minutes’ drive from the door. Priced to sell with interest from Ψϳϵϱ͕ϬϬϬ͘
Interest from $795,000 Op en Sat 11. 30a m –1 2p m
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www.scottharveyrealestate.com.au North Coast news daily: www.echonetdaily.net.au
The Byron Shire Echo January 27, 2016 25