{"id":21361,"date":"2018-06-01T01:00:28","date_gmt":"2018-05-31T15:00:28","guid":{"rendered":"https:\/\/realestatetalk.com.au\/?p=21361"},"modified":"2018-06-01T01:00:28","modified_gmt":"2018-05-31T15:00:28","slug":"free-ebook-explores-supply-demand-rents-under-pressure-kitchen-reno-blunders","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/free-ebook-explores-supply-demand-rents-under-pressure-kitchen-reno-blunders\/","title":{"rendered":"Free eBook explores supply &amp; demand + Rents under pressure + Kitchen reno blunders"},"content":{"rendered":"<p><strong><em><u>Highlights from this week: <\/u><\/em><\/strong><\/p>\n<ul>\n<li>National vacancies fall putting rents under pressure<\/li>\n<li>FREE eBook link<\/li>\n<li>What not to do in a kitchen reno<\/li>\n<li>Take a stake in HashChing<\/li>\n<li>New real estate brand comes to Australia<\/li>\n<\/ul>\n<p><strong>Transcripts:<\/strong><\/p>\n<h2>Supply &amp; Demand &#8211; FREE eBook &#8211;\u00a0Simon Pressley<\/h2>\n<p><strong>Kevin:<\/strong>\u00a0 In an e-book that\u2019s produced exclusively for Real Estate Talk, Simon Pressley from Propertyology makes the point that everything on Earth that has a dollar value is determined by a relationship between supply and demand. However, as Simon points out, the price of property is much more complex. In the e-book \u2013 supplied free of charge as a bonus for Real Estate Talk subscribers \u2013 he points to a third force, which is sentiment. He joins me to talk about that.<\/p>\n<p>Simon, thanks again for your time.<\/p>\n<p><strong>Simon:<\/strong>\u00a0 Hi, Kevin. Always good to chat. Yes, this information in this e-book has never been produced before. It\u2019s a must-download for anyone who has an interest in property markets.<\/p>\n<p><strong>Kevin:<\/strong>\u00a0 Yes, it\u2019s totally free, and you\u2019ve put a lot of effort into this. Now you\u2019ve taken us through state by state. Just give us a couple of the highlights, some of the things that we can pick up in there.<\/p>\n<p><strong>Simon:<\/strong>\u00a0 We\u2019re covering a 33-year period, so there have been a lot of changes in Australia over those years. We\u2019ve had a couple of property booms, including the one that Sydney and Melbourne just finished. We\u2019ve had a GFC in there. We had the introduction of the GST, which had an impact on property markets. We\u2019ve seen interest rates go from 3.5% recently to 10.5% at one point.<\/p>\n<p>We\u2019ve seen populations change from Western Australia and Queensland being the strongest growth rate periods to more recently, Victoria. We\u2019ve seen shifts. We\u2019ve done interstate migration.<\/p>\n<p>And we\u2019ve certainly seen a big change in dwelling supply, both in a volume sense \u2013 total number of dwellings approved in each capital city \u2013 but also in the style of dwelling, a big push over the last five or six years to more apartment supply.<\/p>\n<p><strong>Kevin:<\/strong>\u00a0 In the opening, I mentioned that we\u2019ve credited price growth in property all about being supply and demand, but it really isn\u2019t that simple, is it? There\u2019s a lot more complexity behind those figures.<\/p>\n<p><strong>Simon:<\/strong>\u00a0 There certainly is. This e-book focuses on what we call the base level of supply and demand. What we mean by base level on the supply side is the number of dwellings constructed, and on the demand side, the base level is a change in population. But the overall property puzzle, there would be nothing less than 30 individual metrics that affect supply, demand, and that keyword sentiment that you mentioned earlier.<\/p>\n<p>That\u2019s the buyer mood. We don\u2019t have to buy a property. There\u2019s no law that says we have to live in something that we own. We can rent. We can live in a one-person household or a ten-person household. We can live in a capital city or a regional location. There\u2019s a whole bunch of things that affect supply, demand, and sentiment.<\/p>\n<p><strong>Kevin:<\/strong>\u00a0 It\u2019s an extensive study and a great e-book. Just going through it, just having a quick look at it now, each of the states is broken down. You\u2019ve looked at each one, analyzed the complexity behind it.<\/p>\n<p>What did you learn from doing that exercise? Is there anything that jumped out at you, Simon?<\/p>\n<p><strong>Simon:<\/strong>\u00a0 Yes, we saw that there\u2019s no doubt that the last five years, Australia is in a residential construction boom. That\u2019s more Australia\u2019s big four cities more so than regional cities. There are some amazing charts that we put a lot of time and resources into to put in this e-book that really graphically illustrate how in some locations, the supply is much higher over the last couple of years than what it\u2019s ever been before.<\/p>\n<p>We have also seen, as I said earlier Kevin, a real change in the style of dwelling that we\u2019re building, and some of the charts show you over the 33-year period that we\u2019re charting here, the number of houses built in a typical year, the number of apartments built in a typical year, the amount of population growth in a typical year, and just seeing how that changes over the last few years, there are some fascinating charts.<\/p>\n<p>And there\u2019s some great \u2013 what we call \u2013 fun facts as well. I\u2019ll give one away. Whilst Darwin\u2019s property market has been in the doldrums over the last couple of years, it had eight consecutive years, Kevin, of double-digit price growth between 2002 and 2009. There\u2019s not a location in Australia that has achieved that, eight years in a row of double-digit price growth. That\u2019s just one of many fun facts that we\u2019ve put in this<a href=\"https:\/\/realestatetalk.com.au\/propertyology-ebook\/\" target=\"_blank\" rel=\"noopener noreferrer\"> e-book<\/a>.<\/p>\n<p><strong>Kevin:<\/strong>\u00a0 You\u2019ll certainly learn a lot by picking up the e-book. As I said, it\u2019s totally free of charge to subscribers for Real Estate Talk. You can do that. And we thank Simon and his team at Propertyology for doing it for us.<\/p>\n<p>Now, how do you get it? Well, it\u2019s very simple. There are a number of buttons all over the site, Real Estate Talk, to help you get that. It\u2019s a free download, as I said, so jump in, look for any one of the buttons. If you can\u2019t find it, send me an e-mail, <a href=\"mailto:Kevin@realestatetalk.com.au\">Kevin@realestatetalk.com.au<\/a>. I\u2019ll certainly give you that link.<\/p>\n<p>Simon, thank you so much for your time. Thank you for all of the time and effort that you put into putting this e-book together. I think it\u2019s a wonderful contribution to educating our listeners. So, thank you very much, once again, for doing that, Simon.<\/p>\n<p><strong>Simon:<\/strong>\u00a0 My pleasure. We\u2019ve had a lot of fun putting it together, and I sincerely mean anyone who has an interest in property, this is a must-read.<\/p>\n<p>Get your free copy\u00a0<a href=\"https:\/\/realestatetalk.com.au\/propertyology-ebook\/\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a><\/p>\n<h2>Rents under pressure &#8211;\u00a0Louis Christopher<\/h2>\n<p><strong>Kevin:\u00a0 <\/strong>If you want to know what\u2019s happening with the market, particularly investor stock, I love to pick up Louis Christopher\u2019s report from SQM Research that talks about vacancy rates around Australia. It gives a really interesting insight. Louis joins me to talk about it.<\/p>\n<p>Good day, Louis. Good to have you on the show again.<\/p>\n<p><strong>Louis:\u00a0 <\/strong>Good day, Kevin. Good to be here again.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Thanks, mate. The latest report talks about vacancy rates: some up, some down. What do you read into this? Let\u2019s go cap city by cap city.<\/p>\n<p><strong>Louis:\u00a0 <\/strong>Okay. The national result was that we recorded a rental vacancy rate of 2.1% in April. So, on our numbers, 67,800 residential properties were vacant in April. That compares to March where the rate was 2.1%. So, effectively, it was a steady market in April. Looking at where we were this time last year, the national vacancy rate was 2.4%.<\/p>\n<p>Now, in all this, Kevin, as you\u2019ve said, some cities have gone up in vacancies, some have gone down. When I look at Brisbane, we recorded a vacancy rate for 3%, which sounds elevated. Now, that was down from 3.2% in March and down from 3.7% in April last year.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Let\u2019s bring some perspective into this. What would you call a balanced market? Is it around that 2% or 3%?<\/p>\n<p><strong>Louis:\u00a0 <\/strong>Yes, that is correct. When it\u2019s below 2%, generally speaking, it\u2019s a landlord\u2019s market. When it\u2019s 3% and above, it\u2019s a tenant\u2019s market. But in all this, what is important to note is the relative movement. For example, we saw this some years back up in Gladstone, where Gladstone once upon a time had a vacancy rate of 9%. That vacancy rate has now come back to about 5%.<\/p>\n<p>The rental market has actually tightened up. It\u2019s still relatively loose, there\u2019s plenty of stock available, but given the fact that it has tightened, that has actually created a little bit of a rise in rents. So, it\u2019s a relative movement that you also need to consider.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>What\u2019s happening in Sydney and Melbourne?<\/p>\n<p><strong>Louis:\u00a0 <\/strong>Vacancy rate in Sydney at the moment is 2.3%, which is steady month on month but was up compared to April last year when the vacancy rate was 1.7%. Melbourne on the other hand has now quite a tight vacancy rate of just 1.3%. This time last year, it was at 1.5%.<\/p>\n<p>So, Melbourne is very tight even while we\u2019ve had an increase in dwelling completions \u2013 a rapid increase in dwelling completions, might I add? It seems as though the very accelerated population growth rate has absorbed a lot of the surplus stock.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>What about the difference between houses and units, Louis?<\/p>\n<p><strong>Louis:\u00a0 <\/strong>We don\u2019t break it down, Kevin, because what we see regarding units is you can get a misleading read on units at times, so we generally publish a combined houses and units vacancy rate. But what I like to look at, though, is areas where we know there are lots of units. For example, Brisbane CBD, where you won\u2019t find too many freestanding houses there.<\/p>\n<p>So, we have a vacancy rate now in the Brisbane CBD of about 5%. That\u2019s actually been trending down as well of late, which I find interesting. And it may well suggest that the worst is behind us regarding Brisbane\u2019s apartment glut, but still very early days.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Yes. When looking at the figures, what do you read into it cap city by cap city in terms of what\u2019s likely to happen with rental returns?<\/p>\n<p><strong>Louis:\u00a0 <\/strong>It is very much a mixed market overall. We just went through some of the cap cities. Perth for example is recording a 4.1% vacancy rate. That said, though, it\u2019s coming down. There\u2019s still surplus stock in Perth due to the mining downturn, but our view is that we were at the bottom at Perth. We\u2019re already past the bottom of Perth now and the rents will likely start to rise again, assuming that the uptick in commodity prices continues.<\/p>\n<p>It\u2019s the same issue with Brisbane where everybody is aware of the over-supply, and we\u2019ve just talked about the fact that maybe we\u2019ve passed the worst of it once again in Brisbane.<\/p>\n<p>Darwin, on the other hand, we have a vacancy rate of 3.3%. We don\u2019t think the worst is over yet. We had to actually recently revise our forecast for Darwin downwards because we\u2019re still seeing a lot of surplus stock. I think Darwin has not quite bottomed out yet.<\/p>\n<p>And then when we look at Sydney, I think for now, vacancies are likely to continue to increase. So, our outlook for the rental market in Sydney is pretty flat at this point in time.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Always a great reports at Louis\u2019 website too, SQMResearch.com.au. And if you want to find out about distressed properties as well, some reports there that you might want to look into.<\/p>\n<p>Louis Christopher has been my guest. Louis, thanks again for your time.<\/p>\n<p><strong>Louis:\u00a0 <\/strong>Good to be here, Kevin.<\/p>\n<h2>Get a share of the future &#8211;\u00a0Siobhan Hayden<\/h2>\n<p><strong>Kevin:<\/strong>\u00a0 It\u2019s not very often we do an interview like the one we\u2019re going to do now, but I think this is such a wonderful opportunity that fits right into the property arena that I just want to bring it to you. It\u2019s an opportunity if you were looking to buy a part share in a company that\u2019s really making some great ground in this area, the company we\u2019ve spoken about on a number of occasions called HashChing.<\/p>\n<p>To explain a little bit more about the opportunity, I\u2019d like to welcome into the show, the COO for HashChing, Siobhan Hayden, who we\u2019ve spoken to in the past.<\/p>\n<p>Good day, Siobhan.<\/p>\n<p><strong>Siobhan:<\/strong>\u00a0 Thanks, Kevin. Nice to be here.<\/p>\n<p><strong>Kevin:<\/strong>\u00a0 It\u2019s a great opportunity for investors to buy a piece of HashChing or buy a piece of the future. Tell me about how you\u2019re engineering this.<\/p>\n<p><strong>Siobhan:<\/strong>\u00a0 Yes, it\u2019s really exciting, Kevin. We shortly kick off equity crowdfunding for the business. We\u2019ve been in business for nearly three years in August, and in that time, we\u2019ve only raised $3.4 million. And that probably doesn\u2019t sound like a little amount of money \u2013 it probably sounds like quite a lot \u2013 but for comparative industries or other business operators in our space, they\u2019ve raised much, much more money. We\u2019ve been really running quite a lean business and we\u2019ve done very well, and we\u2019re now looking to open it up for a $5 million capital raise.<\/p>\n<p>Where this all started was a customer who had successfully settled a loan eight months ago who reached out and wanted to invest a couple of hundred thousand, and she wasn\u2019t able to because she wasn\u2019t deemed a sophisticated investor.<\/p>\n<p><strong>Kevin:<\/strong>\u00a0 How do you determine a sophisticated investor?<\/p>\n<p><strong>Siobhan:<\/strong>\u00a0 It\u2019s a bit complicated \u2013 I\u2019m definitely not one myself \u2013 but you need to have $1 million net assets and a letter from your accountant, in broad terms. So, there are probably a few more boxes to tick, but in broad terms, you need to be obviously well-positioned financially to be able to make significant investments in businesses that have already raised money, and that was the precursor for that person. We had already raised enough money in a particular window of time, which precluded her.<\/p>\n<p>So, what we\u2019re looking at now is actually going to people like this lady, what are called retail investors. People can contribute or pay for or buy a minimum of $250 up to $10,000 through the equity crowdfunding piece, which I think is a really exciting opportunity.<\/p>\n<p>We have 38,000 customers \u2013 and growing \u2013 who have already used HashChing. We have a network of mortgage brokers around the country, over 700. We have lots of people who have already registered for this offer to go live and Equitise is the platform that is helping us do it. And they\u2019re a great little start-up as well.<\/p>\n<p><strong>Kevin:<\/strong>\u00a0 That\u2019s a platform that allows for this to happen. Is that right?<\/p>\n<p><strong>Siobhan:<\/strong>\u00a0 Yes. You can go onto their site, and they have loads of businesses that they\u2019ve already raised money for. It\u2019s actually a really good site. I have friends who own their own hospitality businesses who have already downloaded the Equitise app, so we\u2019re across the opportunities that Equitise offers in all different business verticals.<\/p>\n<p>Of course, we\u2019re in the home loan and property space, but they have an \u201cInvest\u201d tab, and if you click on that, you can see their whole offer.<\/p>\n<p><strong>Kevin:<\/strong>\u00a0 Okay, tell me a little bit about HashChing. I\u2019d like to know the business behind it but also the risks involved for anyone who wants to become involved.<\/p>\n<p><strong>Siobhan:<\/strong>\u00a0 Yes, totally. When the offer becomes live on Equitise, it will have all the documents available for consumers to read, and it is a risk that a customer needs to review in detail and make that decision themselves.<\/p>\n<p>At the point of the capital raise, the equity crowdfunding, the business is valued at $25 million pre-valuation, so pre-money, so pre-raising the funds, and we\u2019re looking to raise the $5 million, as I suggested.<\/p>\n<p>The main reason for the funds or the main use of the funds that we\u2019re raising is really to get the branding out there and primarily to grow the business and help more customers own their own home sooner, which is what our passion is, and obviously, not to be owned by a financial institution.<\/p>\n<p>We want to really maintain that view of having multiple lenders across the panel that customers can genuinely trust and not being influenced by any parent company.<\/p>\n<p><strong>Kevin:<\/strong>\u00a0 The website is called Equitise.com.<\/p>\n<p><strong>Siobhan:<\/strong>\u00a0 That\u2019s right.<\/p>\n<p><strong>Kevin:<\/strong>\u00a0 There are quite a number of businesses on there that you can have a look at. By the time this goes to air, when we broadcast this, that offer will be live, I understand?<\/p>\n<p><strong>Siobhan:<\/strong>\u00a0 Yes, that\u2019s right.<\/p>\n<p><strong>Kevin:<\/strong>\u00a0 Okay, so it\u2019s live right now as you\u2019re listening, so go to Equitise.com.<\/p>\n<p>Anything else you\u2019d like to add about the future for HashChing?<\/p>\n<p><strong>Siobhan:<\/strong>\u00a0 We\u2019ve already done so many things in the business that we\u2019re excited about, but recently added our own HashChing home loan deals, two deals that brokers in our network are now able to chat with customers about, which we\u2019re really excited about, and we\u2019ve also launched our customer portal when customers launch a lead with us or an interest to talk to a broker, they\u2019re given access to their own customer portal, which is where they will also receive offers and alerts about their property.<\/p>\n<p><strong>Kevin:<\/strong>\u00a0 Wonderful. A great opportunity, I think, for small investors or investors wanting to start out. If you have some confidence in the product, it\u2019s called HashChing, and the website to go to to find out a little bit more about investing is Equitise.com and all the information will be there.<\/p>\n<p>Siobhan Hayden from HashChing, thank you so much for your time and telling us about this opportunity. It\u2019s great to talk to you.<\/p>\n<p><strong>Siobhan:<\/strong>\u00a0 Thanks, Kevin. Much appreciated. Have a good day.<\/p>\n<h2>What not to do in a kitchen reno &#8211;\u00a0Brett White<\/h2>\n<p><strong>Kevin:\u00a0 <\/strong>No doubt there are two areas of the home that will really appeal to buyers, and we\u2019ve spoken about it in the show in the past. One is kitchen, and the other one is bathroom. Today in this segment, I\u2019m going to be focusing very much on the kitchen, some of the dos and don\u2019ts about renovating the kitchen. I\u2019m talking to Brett White, who is the chief inspector for Inspect East Building Inspections out of Victoria.<\/p>\n<p>I guess, Brett, it would be fair to say that in your building inspections, you\u2019ve come across some shockers but you\u2019ve also come across some really good kitchens.<\/p>\n<p><strong>Brett:\u00a0 <\/strong>Absolutely. Yes, it\u2019s an area of the home that people spend a lot of money on and spend a lot of time in.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Yes, they do. And it can certainly help sell the house, even encourage buyers to make an offer because it gives that first impression about what the house is like. I know the outside impression is important, but once you get inside, it has to feel like a home.<\/p>\n<p>In an article I read that you wrote recently on our website, you talk about ignoring the little stuff. What do you mean by that?<\/p>\n<p><strong>Brett:\u00a0 <\/strong>Some important aspects when it comes to kitchens. Ensuring all materials meet Australian standards is one of the first. People forget it is a wet area and it has a high usage, and those things are important.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>What about the heights of the cabinets? Is there any regulation on those?<\/p>\n<p><strong>Brett:\u00a0 <\/strong>There is. There is a set height. There is some tolerance built into those heights, but generally, they\u2019re around 900 millimeters to top of bench. That\u2019s for usability.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Yes. I have a mate who\u2019s particularly tall, and when he had a kitchen put in, he made it oversize, he made it a little bit higher. How would he go on in selling that? Would he need to bring that to any kind of regulation?<\/p>\n<p><strong>Brett:\u00a0 <\/strong>Like I said, there is some tolerance that can be built into that, and some people will have their cabinetry built higher, but that will deter potential buyers in the future. We\u2019ve had that issue raised where clients have moved onto another property because of that fact.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>I guess it\u2019s important, too, when you are renovating the kitchen that you\u2019re catering for workflow. What have you found? Are the smaller, compact kitchens more popular? Chefs have told me that\u2019s what they prefer.<\/p>\n<p><strong>Brett:\u00a0 <\/strong>Yes. Quite often, we\u2019re finding upright cookers, walk-in pantries, lots of different layouts for kitchens, but it\u2019s a high use area and those sorts of things should be brought into consideration.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>What are you noticing in terms of style? Are people going for more of the open field, the kitchen flowing into the family area?<\/p>\n<p><strong>Brett:\u00a0 <\/strong>Yes, open living areas, island benches with serveries or breakfast areas. It\u2019s the hub of the home, so people really look at kitchens closely when they\u2019re purchasing a home.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Is it possible to make a kitchen too trendy, put too many gadgets in it?<\/p>\n<p><strong>Brett:\u00a0 <\/strong>Interesting question. There is a lot of focus on kitchens. Some people will go overboard with ovens and appliances in kitchens, where personally, I like to see it stripped back with some raw materials and a more robust aspect, personally. But you have to remember they\u2019re one of the prominent areas and the photos are always looked at closely, and that high gloss level and that extreme finish is expensive but well sought after.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Anyone looking at doing a kitchen makeover or a remodel, who are they best to turn to? Is it an architect, or are there specialist kitchen designers you\u2019ve come across, Brett?<\/p>\n<p><strong>Brett:\u00a0 <\/strong>It depends on property to property. You need to realize your budget. And yes, some properties will require an architect\u2019s input to get that design layout correct, and there are quite often large budgets spent on kitchen space these days.<\/p>\n<p>What we do recommend is ensuring that all your trades are licensed and everything is done to Australian standards. We quite often see some unsafe conditions produced, upright cookers not being secured in position and the correct sealing \u2013 like I say, it is a wet area \u2013 and ensuring it\u2019s all functioning correctly.<\/p>\n<p><strong>Kevin: \u00a0<\/strong>As a building inspector, you obviously look for all of those major defects. But do you also look at lighting and workflow and how a kitchen is going to work, or are you really just focused on the building?<\/p>\n<p><strong>Brett:\u00a0 <\/strong>Mainly the building. We do take into assessment extraction and performance of the kitchen, but lighting is really a personal touch in those areas.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Great talking to you. Brett White is the chief inspector for Inspect East Building Inspections out of Victoria. A few good tips there for your if you\u2019re looking at a makeover in your kitchen.<\/p>\n<p>Brett, thank you for your time.<\/p>\n<p><strong>Brett:\u00a0 <\/strong>Thank you.<\/p>\n<h2>Big brand real estate comes to Australia &#8211;\u00a0Simon Cashman<\/h2>\n<p><strong>Kevin:\u00a0 <\/strong>There\u2019s a brand new real estate kid on the block. It\u2019s called Better Homes and Gardens Real Estate, not to be confused with the <em>Better Homes and Gardens<\/em> television show. The man behind the new brand is Charles Tarbey, who was also the chairman and owner of Century 21 Australasia. Simon Cashman, however, will be responsible for the operation of the brand in Australia, and he joins us.<\/p>\n<p>Good morning, Simon.<\/p>\n<p><strong>Simon:\u00a0 <\/strong>Good morning. How are you?<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Well, thank you. Simon, is there any association between the real estate brand and the television show?<\/p>\n<p><strong>Simon:\u00a0 <\/strong>No, there\u2019s not. We\u2019re quite unique, as any real estate brand is. We have a great relationship developing with Pacific Magazines, so we\u2019re working quite closely with them at the moment, and we\u2019ll be advertising properties in their magazine moving forward. But there\u2019s potential for that, but certainly, there isn\u2019t any at the moment.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>I would have thought it\u2019s a great multimedia hook, being associated with the magazine, but also the television show. A great opportunity, I would have thought.<\/p>\n<p><strong>Simon:\u00a0 <\/strong>Yes, that is correct. The success of it is coming out of the States. The Meredith Corporation over there, one of the largest publicists, has had a very successful job working with BHG Real Estate and Sherry Chris. So, we are following a bit in those footsteps.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>I mentioned on the outset there about Century 21. Are there any plans for Better Homes and Gardens, the real estate network, to work closer with Century 21 in Australia?<\/p>\n<p><strong>Simon:\u00a0 <\/strong>The opportunity is there for C21 offices. They get the first right of refusal. If they\u2019re looking at opening up another shop, by all means, we are welcoming that conversation with them. And that arm has been extended to them quite openly at the moment, and we do have some interest already. It gives them the opportunity to reach across a broader demographic and a broader area, and I think that\u2019s the best opportunity we can extend to them before we go to market.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Yes. It\u2019s a bit like the Colgate Palmolive story, isn\u2019t it? Colgate Palmolive with so many soap brands, it really helps with market share.<\/p>\n<p>How big is Better Homes and Gardens in Australia, just to give us some perspective, and also, like Century 21, will you be hoping to leverage off that?<\/p>\n<p><strong>Simon:\u00a0 <\/strong>You mean in the States?<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Yes.<\/p>\n<p><strong>Simon:\u00a0 <\/strong>There are about 350 offices and about 11,000 brokers over there, as they call them, as opposed to agents as we call them. So, under the realty umbrella, where C21 sits as well, BHG is actually quite a formidable brand. It\u2019s a common name. It\u2019s as omnipresent as much as it is here.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>What are your ambitions for Better Homes and Gardens Real Estate and its growth in the Australian market?<\/p>\n<p><strong>Simon:\u00a0 <\/strong>We\u2019re looking at launching in the latter half of this year. We have a number of offices, as I mentioned, people who are keen. The interest has been massive since the <strong>[2:35 inaudible]<\/strong> article and the other articles we\u2019ve had. So, we are looking at growing at a steady pace, and we believe that we should have a number of offices within the first 24 months and should be able to double that within five years.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Do you have the rights for New Zealand as well?<\/p>\n<p><strong>Simon:\u00a0 <\/strong>We do, yes. That\u2019s our next cab off the rank. We\u2019re going to establish ourselves comfortably in Australia first, and then certainly, we will be going across the ditch into New Zealand.<\/p>\n<p>It\u2019s important to note that we already have a number of offices chomping at the bit that are keen to go with us, but we want to make sure we have the right strategy \u2013 which we do \u2013 in place to work the Eastern Seaboard, swing around to South Australia and WA, and then certainly branch out into New Zealand.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Some would say that we\u2019ve already over-crowded the Australian market with real estate brands. How will this one stand out?<\/p>\n<p><strong>Simon:\u00a0 <\/strong>I believe we have a point of difference in the simple fact that if you mention the name Better Homes and Gardens anywhere in Australia, people already know it. It\u2019s a very well-known brand. The association with how the rest of the media is portrayed for BHG at the moment is that we\u2019re a very warm and welcoming brand.<\/p>\n<p>We believe that our agents \u2013 who we\u2019re going to call service personnel \u2013 will be able to take you through the whole journey of the home. A lot of agents proclaim that now, but I think we have an advantage with a magazine that will be placing advertising and articles in association with its partner at Channel 7 that we will be able to utilize.<\/p>\n<p>Picture this: I\u2019m moving into the new home, and for the next seven years, I\u2019ll be able to help you maintain that investment and look after that property. And we\u2019ll be able to promote articles that we\u2019ve seen in the magazine or on the show that associate with better landscaping or a renovation or fixing your driveway or things like that that as an agent or a service person, he or she will be able to offer those services on an ongoing basis throughout the whole journey of the home. So, in seven to ten years\u2019 time, who else would you call?<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>You called them service personnel. Is that an American influence?<\/p>\n<p><strong>Simon:\u00a0 <\/strong>No, not at all. It\u2019s ours. We certainly want that to be portrayed. The real estate agent as we know it is stereotypical in a lot of ways, and we are certainly looking for people who are real estate agents but believe in that full-service approach to looking after their clients, not just as a traditional agent would today.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>You\u2019re experienced in both the Australian and the American market. Is there much we can learn from America, or is it going to push back the other way?<\/p>\n<p><strong>Simon:\u00a0 <\/strong>That\u2019s very interesting, Kevin. I would suggest there\u2019s a lot to be learned from Sherry Chris and what she has done as the president and CEO. An extremely successful brand, and we have a lot to learn from them and how they\u2019ve done things over there. In turn, I think Australia leads the way on the globe of how we tackle real estate, and certainly its marketing and property advertising.<\/p>\n<p>I think it\u2019s a two-way thing. I think we\u2019re going to be able to help each other out, and we are very close to sharing her team already. It\u2019s a great relationship.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Of course, we do know that the Australian market is the most expensive market in the world to advertise a property on the Internet. No doubt that makes the Australian market quite attractive to a brand like Better Homes and Gardens, I would have thought.<\/p>\n<p><strong>Simon:\u00a0 <\/strong>Yes, it does. Absolutely. I think BHG, Better Homes and Gardens, has been watching Australia for some time. The opportunity came, we seized the day. But yes, they are already very watchful and very mindful and offering as much support as they can right now. Sherry herself is very frequently in Australia. She\u2019s coming out again in a few more months from now to be involved with some of our PR.<\/p>\n<p>It\u2019s a pleasure to be working with them, and you\u2019re right, they are very keen to see what we can do with the brand down under.<\/p>\n<p><strong>Kevin:\u00a0 <\/strong>Yes, wonderful stuff. Great talking to you, Simon. Simon Cashman is behind Better Homes and Gardens Real Estate and what it\u2019ll be doing in the Australian market.<\/p>\n<p>Simon, thank you so much for your time.<\/p>\n<p><strong>Simon:\u00a0 <\/strong>Absolute pleasure. Thanks so much for the call.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Highlights from this week: National vacancies fall putting rents under pressure FREE eBook link What not to do in a kitchen reno Take a stake in HashChing New real estate brand comes to Australia Transcripts: Supply &amp; Demand &#8211; FREE eBook &#8211;\u00a0Simon Pressley Kevin:\u00a0 In&#8230;<\/p>\n","protected":false},"author":176692473,"featured_media":21362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,11,13,24],"tags":[101],"class_list":["post-21361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-shows","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Free eBook explores supply &amp; 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