{"id":8199,"date":"2016-06-02T10:00:20","date_gmt":"2016-06-02T00:00:20","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=8199"},"modified":"2016-06-02T10:00:20","modified_gmt":"2016-06-02T00:00:20","slug":"aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/","title":{"rendered":"Aussies slow with property technology + Why not to focus on auction clearances"},"content":{"rendered":"

Lower interest rates, the 2016 Budget and a Federal Election \u2013 what does all that mean for property? \u00a0Michael Yardney<\/strong><\/a> gives us an insight and a warning as well.
\nAndrew Mirams<\/strong> <\/a>from Intuitive Finance explains what LMI or Lenders Mortgage Insurance is all about.
\nAs a follow on from last week\u2019s show when Bernard Salt<\/strong> talked about how our living requirements have changed and the impact of that on our housing, Nerida Conisbee<\/strong> from realestate.com.au tells us about a study amongst 28,000 highly engaged listings on their site they used to come up with Australia\u2019s ideal home. She also tells us why buyers are willing to pay $100,000 more if they find it.
\nWe ask Pete Wargent<\/strong> <\/a><\/span>to explain why Australian investors are the least willing to embrace new technology when searching for an investment.
\nThe head of one of the country\u2019s biggest real estate groups says we have it all wrong when we use auction clearance rates as a measure of how the market is either improving or declining.\u00a0 He gives us some better indicators.
\nJessica Darnborough<\/strong> gives us a look inside the Australian finance broking industry with some good advice about how to choose a broker.
\n 
\nTranscripts<\/strong>
\n 
\nMichael Yardney:<\/strong><\/a>
\nKevin:<\/b>\u00a0 With more and more lower interest rates on the landscape, and of course, the recent budget, what does that mean for property? Michael Yardney<\/a> from Metropole Property Strategists<\/a> joins me.
\nGood morning, Michael.
\nMichael:<\/b>\u00a0 Good morning, Kevin.
\nKevin:<\/b>\u00a0 Everyone\u2019s talking about this, aren\u2019t they? What\u2019s going to happen with property? What\u2019s your take on it all, Michael?
\nMichael:<\/b>\u00a0 As we know, recently interest rates have been lowered, and the expectation is that they\u2019re going to be lowered once more, so interest rates may drop another quarter of a percent before the end of this year. Yes, everyone is wondering how is that going to affect property. I believe it\u2019s going to put a floor under our slowing housing markets and it definitely will be welcomed by first-home buyers.
\nBut I think the big factor in people\u2019s minds at the moment is lower consumer confidence \u2013 some uncertainty about an upcoming election. A lot of people are a bit uncertain about their jobs. Interest rates have been lowered because the economy is not doing well. I think these other factors are going to make people just sit on the sidelines for a little bit, Kevin, and they probably won\u2019t jump into property because of the lower interest rates, at least not just yet.
\nKevin:<\/b>\u00a0 Michael, you mentioned there about more rate cuts on the horizon. When will that happen, and what impact are they having on the market?
\nMichael:<\/b>\u00a0 Many economists believe that there will be another round of rate cuts but not until after the election, so probably in August or September. The decision of the Reserve Bank really has taken a number of factors into account: the fact that our housing markets have slowed. APRA seems to be working well in that regard so it doesn\u2019t have to worry too much about the housing markets.
\nIt\u2019s really more worried that our economy is slowing but inflation has almost stalled, which really means that our job growth, wages growth, and economic growth aren\u2019t happening, so they\u2019re trying to encourage it by, I guess, dropping rates more for businesses, who are hopefully then going to feel confident and employ people and buy new equipment. It\u2019s working well in that side.
\nAs for homebuyers, it\u2019s going to allow people to pay off their mortgages a little bit quicker. I don\u2019t think people in these more uncertain times are going to rush off and upgrade their homes or buy bigger houses; what they\u2019re probably going to do is take advantage of the lower rates and get those financial buffers in place.
\nKevin:<\/b>\u00a0 We are actually seeing the banks, too, passing on this recent decrease, aren\u2019t we?
\nMichael:<\/b>\u00a0 It happened much quicker than in the past and to a greater degree, where most of the banks have passed on the full cut \u2013 at present, Kevin. But we know that the banks are being squeezed because of the cost of their funds from overseas. That\u2019s where they get a lot of their money because Australians aren\u2019t putting money into their deposits anymore. That\u2019s how, in the old days, you used to have a savings book and that\u2019s where banks got their money. Now they get a lot of their money overseas, and that\u2019s more expensive.
\nAlso, they\u2019re having to keep more cash on hand because of APRA\u2019s changes, so it\u2019s possible to boost their profits they\u2019re going to do an out-of-cycle rate rise again, like they did last year. That\u2019s definitely on the cards.
\nKevin:<\/b>\u00a0 What are consumers doing with these decreases in interest rates, Michael? Are they actually paying their loans off faster, or are they taking the decrease?
\nMichael:<\/b>\u00a0 What\u2019s happening is they\u2019re paying their loans off faster, in general. They\u2019re getting rid of credit card debt. Most households are in very good shape, but at the end of last year, due to a couple of stimuli from the government and people feeling more confident, consumers started to spend a little bit more, and we\u2019re seeing that household saving is decreasing a bit.
\nThat\u2019s what the government wants. They want us to be encouraged to spend and they\u2019re encouraging businesses to spend because that\u2019s what makes the dollars go around and our economy go around and pay people\u2019s wages. That\u2019s that interesting mix of not taking on too much debt, not overspending and using your house as an ATM but also spending enough to keep people employed.
\nKevin:<\/b>\u00a0 Always good talking to you, Michael Yardney<\/a> from Metropole Property Strategists.<\/a> Thanks, Michael.
\nMichael:<\/b>\u00a0 My pleasure, Kevin.
\n 
\nAndrew Miriams<\/strong><\/a>
\nKevin:<\/b>\u00a0 I was approached by a young couple recently who were very concerned about getting into their first property and, I guess like a lot of young people, have been trying to save but they can\u2019t get a full 20% deposit and were very concerned about the LMI \u2013 lenders mortgage insurance \u2013 and asked me what it was all about. I thought I\u2019d get more detailed insight into LMI. Joining me, Andrew Mirams from Intuitive Finance, a regular contributor to our podcast.
\nAndrew, what is LMI? What is lenders mortgage insurance?
\nAndrew:<\/b>\u00a0 Hi, Kevin. A great question. I think there\u2019s still a little bit of a mish out in the markets about what it is. Firstly, lenders mortgage insurance is these companies that sit around the banks. The banks want everyone to have a 20% deposit plus their fee, so they\u2019ll lend you 80%. They\u2019ll put that on their own books and that 20% is basically their buffer for any market movement.
\nCan you go over that? If you have a smaller deposit, you can do that, but then we have a group of mortgage insurers that actually insure the debt. They actually then do their own assessment on whether you\u2019re a good risk and they insure the debt. What that means is it\u2019s the only insurance in the world, I guess, that you pay to insure someone else. What the lenders mortgage insurance is doing is actually securing the bank\u2019s position in case of default.
\nKevin:<\/b>\u00a0 It\u2019s hardly fair, is it?
\nAndrew:<\/b>\u00a0 Well, I think if you don\u2019t have it, you don\u2019t get into your property, so I think it\u2019s actually a necessary evil in our markets, \u00a0because for the young people of today, it\u2019s not so much the holding costs with rates being at all-time record lows; it\u2019s actually their ability to save a deposit and get into the market. That\u2019s becoming the harder thing. So I think mortgage insurance has a definite opportunity within the market to use. We have both homebuyers and investors using it all the time.
\nKevin:<\/b>\u00a0 Give me an idea on the costs involved in LMI.
\nAndrew:<\/b>\u00a0 There\u2019s not a set formula because there are a number of insurers; they all have different premiums. Generally, what they do is it depends on your actual loan-to-value ratio. What the loan-to-value ratio means is if you have your loan at $400,000 and your property is worth $500,000, that\u2019s the 80% LVR is what we call the acronym. If you can only do your loan at $450,000 against your property at $500,000, that\u2019s then your 90% LVR.
\nNow, the premiums go up in 2% increments so whether you borrow 82%, 84%, 86%, 88%, etc. in increments. For an investor, it\u2019s kept at 90% nowadays, and for owner-occupiers, they\u2019re still able to go up to 95%.
\nIt\u2019s basically your risk and reward. The more you can contribute to your property, the lower the mortgage insurance will be because their risk is actually lower. There is not actually a set formula or premium that you can just say that\u2019s the amount, but that\u2019s how that\u2019s roughly calculated. There are also a couple of tiers in your loan amount. Under $500,000 and over $500,000 tend to attract different premiums, as well.
\nKevin:<\/b> \u00a0Does the premium have to be paid in a lump sum, or can it be part of the loan?
\nAndrew:<\/b>\u00a0 There are two parts to that question. It\u2019s a one-time lump-sum payment, but most of the time, you can actually capitalize it onto your loan, so it\u2019s not actually an on-cost, like your stamp duty that you need to be able to fund up at the start. You can add it and capitalize it on top of your loan.
\nKevin:<\/b>\u00a0 Are there any mortgages where LMI wouldn\u2019t apply, as in, say, a reverse mortgage?
\nAndrew:<\/b>\u00a0 Yes, there are in those circumstances. There are also certain high-income-earning professions that lenders will waive their right to mortgage insurance because they\u2019re trying to attract a certain profession; they know that they\u2019re higher income and things like that. Yes, there are opportunities. There are some lenders that will do an 85%. Again, it\u2019s a bit of a give-and-take relationship. You might not pay the mortgage insurance but you\u2019ll pay a little bit more in interest rates. No free ride, Kevin.
\nKevin:<\/b>\u00a0 No. We learn that in life very quickly. What about off the plan, Andrew? Does it apply there?
\nAndrew:<\/b>\u00a0 You can get it for off the plan. Off the plan is a really interesting market because as we know, when a developer is actually building something, they have their margins built in because they\u2019ve paid someone else to market and, then there are commissions and fees. It\u2019s not uncommon\u2026 It doesn\u2019t happen all of the time. There are really good projects out there and the market might have been kind where the purchase price will marry up to the actual valuation at the time. It\u2019s not uncommon for valuations to come in a little bit less or lower than what the actual client has purchased.
\nThen you can take mortgage insurance out against generally the lower of the two \u2013 or most of the time now. Because they\u2019re greater than a 12-month purchase, the valuation will be what the lender uses and then you\u2019ll sign a mortgage insurance premium based on the valuation.
\nKevin:<\/b>\u00a0 I imagine it might have happened in Sydney where people purchased a property and maybe it went up in value. They were paying lenders mortgage insurance then they wanted to borrow against the increased equity. Do you need to adjust that insurance?
\nAndrew:<\/b>\u00a0 Yes. Once you have the insurance premium in place, you can actually do what we call a top-up. What the lender does is if you, let\u2019s say, paid the $5000 in your first application and then you want to take out a little bit more equity, you\u2019ll only pay the difference. The premium for the new loan and the new loan amount might have been 5\u00bd; you\u2019ll actually only pay that $500 in the differential being the top-up mortgage insurance. It\u2019s a really good strategy we use for our investors to keep that insurance in place, and if I\u2019ve used it at 90% from the start, we\u2019ll try to keep that policy in place and take it back up to 90% again and just pay a top-up premium. It\u2019s a really great strategy for our investors.
\nKevin:<\/b>\u00a0 Would a way to avoid paying LMI be to get some kind of a family guarantee?
\nAndrew:<\/b>\u00a0 Absolutely. For first-home buyers, that\u2019s a great opportunity. Like we said from the outset, it\u2019s getting harder and harder for our young people today to save that required deposit, so using a family guarantee \u2013 which is where the parents use the equity out of their property to assist a young person getting both a home or an investment; it might be a great way for them to start adding investing, as well \u2013 they can put their property up and that way, they\u2019ll avoid the insurance.
\nKevin:<\/b>\u00a0 If I\u2019m not backed for finance on a property purchase because I don\u2019t qualify for LMI, can I find out why?
\nAndrew:<\/b>\u00a0 It\u2019s generally the same reasons as what you would get for a lender. The answer is yes; however, because the insurers are taking on a greater risk, it\u2019s their calculators and their reasoning and rationale around whether they\u2019ll accept the property in the first place. So that\u2019s where some of those off-the-plan properties, they might have a certain exposure already to that development or they might be postcodes they don\u2019t want to lend to.
\nThen if clients are actually stretching themselves a little bit but it works at the bank, it still doesn\u2019t mean it\u2019s a guarantee to work at the mortgage insurer because they have stricter and tighter policies around, because again, they\u2019re insuring the lender and they\u2019re going to be at risk if a client was to not make their payments. The lender basically knocks on the insurer\u2019s door and says, \u201cThank you, we need those funds back,\u201d and then it\u2019s up to the insurer to pursue the client.
\nKevin:<\/b>\u00a0 Always good talking to you. Andrew Mirams from Intuitive Finance. Andrew, thanks for that insight into lenders mortgage insurance. I appreciate your time.
\nAndrew:<\/b>\u00a0 My pleasure, Kevin. Thank you.
\n 
\nNerida Conisbee<\/strong>
\nKevin:\u00a0 <\/b>The ideal home is a concept that varies for different people, but if you had to design the most statistically sought-after home in Australia, what would it look like? Now we can tell you, because RealEstate.com.au has done some research, and they\u2019ve come up with the answer for us. Joining us to tell us what that might be, chief economist for the REA group, which is the parent company of RealEstate.com.au, Nerida Conisbee.
\nNerida, what does the ideal house look like?<\/b>
\nNerida:\u00a0 <\/b>What we did is we had a look at the most popular searches on RealEstate.com.au. We have about five million people searching every month, and we saw some really distinct trends as to the types of things people are looking for in a new home. So what does a perfect house look like? It\u2019s bigger, it has more bedrooms, two bathrooms, two garages, and it\u2019s on quite a big block \u2013 on a block of around 665 square meters.<\/b>
\nKevin:\u00a0 <\/b>It\u2019s interesting when we look at so many contemporary homes around Australia now being constructed on smaller blocks of land, too. We want both. We want both the bigger house and the bigger block of land. Is it realistic, Nerida?<\/b>
\nNerida:\u00a0 <\/b>When we have a look at the size of new blocks, they\u2019re typically around 480 square meters, so it\u2019s probably not realistic. I think 665 square meters would be considered a very large block at the moment in Australia, and certainly for new homes, you\u2019d probably be unable to get a block of that size. You could possibly get one, but you\u2019d certainly be paying a significant premium to access it.<\/b>
\nKevin:\u00a0 <\/b>Yes, there aren\u2019t too many places in Australia where you can get a 600 square meter block. Did it vary much around Australia? In other words, were the styles of houses different in Queensland, New South Wales, and Victoria?<\/b>
\nNerida:\u00a0 <\/b>Yes, it was interesting. Tasmanians were looking for the biggest blocks. They were looking for around 750 square meters. South Australia, Queensland at around 680, and New South Wales were the smallest. They were looking for under 650. So it did vary across states.
\nThe size of the home also varied quite a lot. If we had a look at the southern states \u2013 Tasmania, Victoria, South Australia \u2013 they were typically happier with smaller homes \u2013 so three bedrooms \u2013 but if we look to the warmer climates, particularly New South Wales, Queensland, and Western Australia, they were looking for four bedrooms, so bigger homes in those states than what we saw in the southern states.<\/b>
\nKevin:\u00a0 <\/b>Can you line that up with lifestyle? In other words, for instance, in the warmer climates where they\u2019re looking for bigger homes, would that include more outdoor entertainment areas?<\/b>
\nNerida:\u00a0 <\/b>Not particularly. If you have a look at New South Wales, they were quite happy to live on small blocks that have big homes, so it wouldn\u2019t really suggest that they\u2019re wanting more outdoor areas than, say, Tasmania. It probably has a little bit to do with the cost of land in those areas, but it was certainly surprising that people in warmer climates want more bedrooms, because that was probably the key finding, that they\u2019re wanting an extra bedroom for whatever reason, and it was more apparent in warmer climates.<\/b>
\nKevin:\u00a0 <\/b>With everyone wanting bigger and better, Nerida, are they willing to pay more for it?<\/b>
\nNerida:\u00a0 <\/b>Yes, they certainly are. The median house price at the moment in Australia is $550,000, and people were prepared to spend an extra $100,000 on getting a bigger home. It varied again across each of the states.
\nIf you have a look at Western Australia, they were the most likely to spend more on their homes relative to the median house price. I think the median in Perth right now is around $495,000 and they were prepared to pay around $700,000, so willing to spend a $205,000 premium. The premium that Queensland residents were prepared to pay was less. I think the median in Queensland now is around $470,000; they were prepared to pay up to around $550,000. There was a bit of regional variation, but on average, around $100,000 more to get a bigger home.<\/b>
\nKevin:\u00a0 <\/b>What about first-home buyers? Are they willing to sacrifice, or do they want to go straight to the perfect home?<\/b>
\nNerida:\u00a0 <\/b>We didn\u2019t specifically look at first-home buyers. It would be interesting to have a look. I think for many of them, they would be priced out of the perfect home. If you have a look at what happened to house prices nationally, and if you have a look at what happened to affordability, it\u2019s getting quite expensive to access major markets, but it would certainly be something that we would like to have a look at, to see whether first-home buyers are getting what they want in the market. It would be an interesting further study, I think.<\/b>
\nKevin:\u00a0 <\/b>Have you got any figures on how many people in Australia are dissatisfied with the home that they\u2019re currently living in?<\/b>
\nNerida:\u00a0 <\/b>Yes. The Australian Bureau of Statistics data has shown that around 50% of households are dissatisfied with the size of their homes. That\u2019s quite consistent with our findings. It\u2019s showing that at least half of households want to live somewhat bigger, and certainly, these findings are showing that more bedrooms are very much sought after, as well as a bigger block of land.<\/b>
\nKevin:\u00a0 <\/b>Great talking to you. Nerida Conisbee from REA, thank you so much for your time.<\/b>
\nNerida:\u00a0 <\/b>Thanks, Kevin.
\n 
\nPete Wagent<\/strong>
\nKevin:\u00a0 <\/b>When it comes to investing, Australians apparently are the least willing to embrace new technology. That\u2019s according to a study that was done recently, admittedly overseas, but it was a global study, and they did actually highlight the fact that Australians are pretty much behind the 8-ball when it comes to using technology. I want to get a view on this from Pete Wargent from Allen Wargent .
\nPete has clients from all over the world, so Pete, I guess you\u2019d be fairly well across this. Would you agree with that assessment? And let\u2019s look in detail at it.<\/b>
\nPete:\u00a0 <\/b>Yes, sure, I think as a general rule, Australians are probably a little bit behind the curve on the idea of using technology in investing. Particularly Asia is leading the way, and then Americans, as well, but generally speaking, Australia is just lagging behind.<\/b>
\nKevin:\u00a0 <\/b>Some of the results out of the survey, just to keep it in context: 4103 high-net-worth investors aged from 40 to 75, and 1267 high-net-worth investors aged between 30 and 39, so they spanned quite a lot of age groups, and they even went across 19 global markets to get these results. It showed that Australian investors trail behind their global counterparts, with only about 4% responding that they\u2019re prepared to embrace technology. It\u2019s pretty low when you compare it to some of the global averages of around 38%, Pete.<\/b>
\nPete:\u00a0 <\/b>Yes, I think there are two aspects. One is geographic, and another one is related to age. You generally find that people under the age of 40 in Australia are a bit more open to the idea of using technology in investing, probably around a fifth, but for people aged over 40, then the numbers drop away very sharply to around 4%. I think to some extent, Australians are falling behind in this regard.<\/b>
\nKevin:\u00a0 <\/b>Let\u2019s have a look at it in terms of property and does it related to the property market? I guess a lot of us are reluctant to look outside of Australia for property investment opportunities.<\/b>
\nPete:\u00a0 <\/b>It definitely does. I think technology in investing originally came to light with the idea of online brokerages, which really increased the frequency of trading and possibly led to shorter-term time horizons in investing, but we\u2019ve spread now towards mobile investing, automated advice and even the use of apps and social media for the purchase of investments.
\nAs it relates to property, though, I think we\u2019re going to see some kind of digital disruption to the industry, perhaps undercutting of agents\u2019 fees. Obviously, most people now look at online listings, but also for investors, there\u2019s much more research that can be done online today, so looking at development approvals, flood maps, census data, and suburb data, and so on. There\u2019s stacks of data that was just never available before.
\nBut the fact that there\u2019s more information, you still can\u2019t remove that human element entirely, and I think some experience is important.<\/b>
\nKevin:\u00a0 <\/b>You talk about digital disruption, and that\u2019s something that we are experiencing, particularly in the Australian market right now with a lot of third-party sites offering to put you in touch with the best agent in your area, and then, of course, they\u2019re getting a commission, as well. We have all these disruptions happening. What impact do you think that\u2019s going to have on us as consumers?<\/b>
\nPete:\u00a0 <\/b>I think there\u2019s definitely a move towards cutting out middleman activity, and people are very much looking at a DIY approach to a lot of their investing. That can apply to property, too. I think we\u2019ve seen that traditionally in Australia, Aussies have often favored a DIY approach. Self-managed super funds is a good example \u2013 extremely popular. But I think in general, Aussies should embrace technology, and that goes for investors and advisors.<\/b>
\nKevin:\u00a0 <\/b>What about the countries overseas? I think the report highlighted the US and Asia as two of the countries that probably lead the way in terms of purchasing their investments online. You mentioned apps. Is that the only technology that we should be concerned about?<\/b>
\nPete:\u00a0 <\/b>Apps are often used to purchase investments, particularly in Asia and America, but as I mentioned, online brokerages have been around for a long time. There\u2019s the rise of automated or robo advice \u2013 so portfolio recommendations \u2013 that\u2019ll become increasingly popular, but even just general social media \u2013 not just property listings, but chat forums, investor groups, and so on. There\u2019s a very wide range of technology that could be embraced as it relates to investing.<\/b>
\nKevin:\u00a0 <\/b>I guess it\u2019s fairly important, too \u2013 and you mentioned this \u2013 that face-to-face relationship you can build up with advisors. The online world is really supplementary to that. You still need to get face-to-face.<\/b>
\nPete:\u00a0 <\/b>I think so, though even there, technology is infiltrating and people are embracing Facetime, Skype, and so on, but as I mentioned, I think that as the automated advice industry becomes a bigger share of the pie, people will still want an element of human interaction and human experience.<\/b>
\nKevin:\u00a0 <\/b>Good talking to you. Pete Wargent from Allen Wargent . Thanks for your insight into that issue, Pete. I appreciate your time.<\/b>
\nPete:\u00a0 <\/b>Pleasure, Kevin.
\n 
\nGrant Harrod<\/strong>
\nKevin:\u00a0 <\/b>Quite often, when we\u2019re looking at market sentiment, we look at a number of barometers but the one that seems to come up all the time is auction clearance rates. There\u2019s one school of thought that says it\u2019s not a good enough barometer on its own to measure what’s really happening with the market. This is a blog article that was recently written by Grant Harrod, who is the Chief Executive of LJ Hooker.
\nI guess, Grant, you would well and truly know whether or not it is a good measure. What\u2019s your thought behind this? Welcome to the show. Thanks for your time.
\nGrant:\u00a0 <\/b>No problem; thank you. Look at the national stats around the number of properties that are sold by auctions versus private treaty, and it averages around 27%. Clearly, more than two-thirds of properties are sold outside of auctions through a private treaty arrangement.
\nIf you look at it by state, in some states, it\u2019s actually as low as less than 10%. Certainly, New South Wales and Victoria \u2013 or specifically Sydney and Melbourne \u2013 are the markets in which you tend to see auctions used a little bit more regularly, but if you move into regional locations or into other states around Australia, it\u2019s actually not a regularly used method of selling a property.
\nThe other side of this is that there are a lot of properties that probably start life in an auction process because, really, we see it as more of a method of marketing than necessarily a method of transacting a property. They\u2019ll start with an auction campaign, which has the benefit of concentrating the process into a three- to four-week period, and which obviously really benefits the vendor and the purchaser, and also the agent, as well. A number will sell before auction, and then a number will also sell after auction. Checking the clearance rate on the day is \u2013 in our view \u2013 not necessarily an indicator of the health and well-being of a particular property market.
\nKevin:\u00a0 <\/b>Just to take that thought one step further too, Grant, the day of the auction is influenced by so many factors, not the least of which is whether or not the property has a realistic expectation put on it by the seller, which is a direct reflection sometimes on the activities of the agent, how well the agent has been educating the seller, ready for them to meet the market.
\nGrant:\u00a0 <\/b>Correct. I\u2019d also extend that to suggest the vendor, as well. You can imagine in a market like we\u2019re in at the moment, where you do have a number of real estate markets that are coming off a high point, managing the expectation of the vendor is quite challenging.
\nThey\u2019ve probably been considering selling their property for quite some time. They\u2019ve been tracking the market, they\u2019ve seen the home down the road go for a particular number, and they\u2019ve decided, \u201cThat\u2019s my price. I\u2019m going to put my property on the market.\u201d Of course, the markets are moving around quite a fair bit at the moment, and therefore, that may not necessarily be what the purchasers are prepared to pay for that market.
\nAn auction process is valuable in the extent that it gives both the buyer and the seller a very clear visibility <\/b>to what the market is prepared to pay. But more often, from an agent\u2019s perspective, it\u2019s actually managing the vendor \u2013 the seller\u2019s expectation \u2013 that is the critical part.
\nKevin:\u00a0 <\/b>Given that we can\u2019t rely on those auction clearance rates as a barometer for the market, as you so clearly pointed out, what are some of the indicators that you would suggest consumers should be looking at to gauge where the market\u2019s at?
\nGrant:\u00a0 <\/b>I think one of the most [4:08 inaudible]<\/b> measures is time on market. As an example, in the Sydney market and certainly in some of the markets that are the closest to the CBD, we\u2019re seeing a very short time on market. There\u2019s a lot of buyer demand. There\u2019s a shortage of listings. So when properties are coming on market\u2026 And some are actually being sold before they come on market. Agents are reaching out to their databases in advance of actually starting the marketing campaign for the property and in many situations, selling it before a campaign has even been undertaken.
\nBut contrast that to, say, Perth. The average time on market in Sydney could be as low as 20 days. Then you go to Perth, and the average time on market there now is 60 days, if not heading now towards 70, even 80 days, where you obviously have a lot of listings, a lot of stock, but not enough buyers. For us, one of the key measures of the state of a real estate market is what is the average time on market for properties?
\nKevin:\u00a0 <\/b>Great advice, Grant. I really appreciate your time and your insight there. Grant Harrod, who is the Chief Executive of LJ Hooker.
\nGrant, thank you very much for your time.
\nGrant:\u00a0 <\/b>Thank you.
\n\u00a0<\/b>
\nJessica Darnborough<\/strong>
\nKevin:\u00a0 <\/b>More and more, we\u2019re seeing investors right across Australia and New Zealand start to use mortgage brokers, more so than we\u2019ve ever seen before. What are the pros and cons, and why would you want to do it? Jessica Darnbrough from Mortgage Choice joins me.
\nJessica, thank you for your time.
\nJessica:\u00a0 <\/b>Thanks for having me.
\nKevin:\u00a0 <\/b>How common is it for investors now to be using mortgage brokers? Are we seeing it grow?
\nJessica:\u00a0 <\/b>We definitely are seeing it grow, and it is becoming increasingly common for investors to use mortgage brokers. Approximately 53% of all home loans are written through mortgage brokers these days, and the same level is for investors, as well. Of the 100% of home loans, about 30% are investors, and of that 30%, 50% are done through mortgage brokers, so they definitely have a big share of that pie.
\nKevin:\u00a0 <\/b>Yes, it\u2019s certainly growing. There\u2019s a lot to choose from if you jump online. How do we make a good choice? What are the steps we should take, and what do we look for?
\nJessica:\u00a0 <\/b>There are a couple of different ways to find a good mortgage broker. In the first instance, you want to talk to your family, your friends, your work colleagues \u2013 anyone who has a mortgage, anyone who\u2019s been through a mortgage broker. Ask them about their experiences, who they dealt with, the pros and cons. They\u2019ll be able to give you some really great feedback on whether or not that\u2019s a person that you\u2019d want to touch base with.
\nIn addition, it also helps to get online, do your research, see which brokers are in your local area. It\u2019s always good to work with a local broker where possible because they\u2019ll know the local area, they\u2019ll be able to give you some real estate information, and just generally provide you with some comfort because they know the local area so well.
\nKevin:\u00a0 <\/b>Yes. Of course, we\u2019re seeing real estate agents now get very, very close associations with mortgage brokers. Is that a good way to go? Is that such a good idea to have the real estate agent that closely involved in the loan process?
\nJessica:\u00a0 <\/b>What it is more than anything, is they just refer their clients and customers if they come to open houses and things like that on to mortgage brokers if those clients make it clear that they don\u2019t have their finances sorted yet. They\u2019re not exactly involved in the home loan process, but they do form a nice referral partnership.
\nWhile at Mortgage Choice, we don\u2019t have a national alliance \u2013 we have one particular real estate agency \u2013 some other broking companies across the country do. We don\u2019t have that, but we do encourage our brokers on a local level to get involved with their local real estate agents because they make a really nice referral partnership.
\nKevin:\u00a0 <\/b>Do brokers need to specialize in certain areas \u2013 as in commercial or residential \u2013 or can they go across the whole lot?
\nJessica:\u00a0 <\/b>Generally speaking, mortgage brokers will go across the whole lot. They\u2019ll be able to look after mum and dad, investors, seasoned investors, negative gearing. They can do really complex investment structures. They can do the whole bing-bang lot. Regardless, if you want a personal loan, a commercial loan, or a residential home loan, your mortgage broker will be able to help you out.
\nKevin:\u00a0 <\/b>They have to keep pretty well up to date, haven\u2019t they? If you go to a bank, they\u2019re only concerned with their own loan type structures, but a mortgage broker has to be across all the lenders. There must be a lot of learning involved.
\nJessica:\u00a0 <\/b>There certainly is, and that\u2019s why a lot of the big broking groups \u2013 all of the broking groups, in fact \u2013 hold a lot of professional development days for their brokers to make sure that they\u2019re constantly learning and keeping on top of the latest policy and pricing changes. In addition to that, they supply them with exceptional software platforms, so brokers are always knowledgeable about who\u2019s doing what, what lenders are offering what pricing, and what policy changes have been made. They\u2019re really keeping abreast of what\u2019s happening in the market.
\nKevin:\u00a0 <\/b>Do you think because we\u2019ve become so busy, that\u2019s a reflection of why brokers have become so popular? Do you think that it\u2019s easier for us to do it that way?
\nJessica:\u00a0 <\/b>There\u2019s definitely a level of ease there. The mortgage broker does all of the legwork for you, which is really handy, because when you\u2019re taking out a mortgage, even if you just go in for your residential, standard, vanilla-type loan, that\u2019s still quite complex and there\u2019s still a lot involved.
\nYour mortgage broker will be able to sit down with you. They\u2019ll take you through it all. Then all of the grunt work, all of the negotiating the right price, all of the picking out the right lender, they can definitely do that for you, and that\u2019s a big time saver. It\u2019s also a big comfort thing for Australians.
\nIn addition to that, your brokers are well-educated. They do it every single day, hundreds of loans a year, so they know exactly what they\u2019re talking about and they know exactly what they\u2019re doing. If you haven\u2019t been involved in the mortgage market before, you don\u2019t have a mortgage, or you\u2019ve only had one and you\u2019re looking to maybe purchase an investment, you\u2019re probably not going to be up to speed with exactly how a mortgage works, exactly how the system operates, and a mortgage broker will. That\u2019s why you go to them \u2013 for that professional next-level advice.
\nKevin:\u00a0 <\/b>What preparation should I do before I go and see the broker, and what should I be taking along with me?
\nJessica:\u00a0 <\/b>There are a couple of things you should take with you. In first instance, take some form of identification: a driver\u2019s license, a passport, those sorts of things. It\u2019s a good idea to also have any recent pay slips on hand, potentially the last three months\u2019 consecutive pay slips because that can show evidence of income.
\nGenerally speaking, what will happen is once you touch base with a broker and suggest that you want to catch up with them and you are ready to look at your financial situation and you\u2019re taking out a home loan in the near future, your mortgage broker should send you a little bit of a to-do list. It will have a fact find attached to it, just to get a little bit more about you: where you work, how long you\u2019ve worked there, number of children, that sort of thing.
\nThey\u2019ll also send you a list of things that you need to bring, whether or not that be income statements, statements of assets and liabilities, statements around debts, those sorts of things that you might have. They\u2019ll tell you what to bring, but generally speaking, if you\u2019re buying with someone, if you can, make sure both of you are at the meeting if you can because it makes the whole thing run a lot more smoothly and it means the mortgage broker doesn\u2019t have to do multiple meetings with you.
\nKevin:\u00a0 <\/b>Good idea. What if things come off the rail \u2013 sometimes they do \u2013 and I have a bit of a problem with a broker? Is there a professional body I can turn to?
\nJessica:\u00a0 <\/b>Absolutely. In the first instance, turn to your broker. If you\u2019re getting no love there, turn to the franchise group they work under or broking group they work under. Again, if there\u2019s nothing there, then there\u2019s also the MFAA. The MFAA is the Mortgage Finance Association of Australia, and you can raise any complaints with them because most mortgage brokers \u2013 if not all mortgage brokers \u2013 operate under either them or the FBAA. Depending on which industry body your broker works underneath, contact that industry body because they should be able to help you with your concerns.
\nKevin:\u00a0 <\/b>Great talking to you. Jessica Darnbrough from Mortgage Choice. Thank you for your time, Jessica.
\nJessica:\u00a0 <\/b>Thank you so much.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

Lower interest rates, the 2016 Budget and a Federal Election \u2013 what does all that mean for property? \u00a0Michael Yardney gives us an insight and a warning as well. Andrew Mirams from Intuitive Finance explains what LMI or Lenders Mortgage Insurance is all about. As…<\/p>\n","protected":false},"author":176692471,"featured_media":8200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[10,11,13,24],"tags":[101],"class_list":["post-8199","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":"\nAussies slow with property technology + Why not to focus on auction clearances - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aussies slow with property technology + Why not to focus on auction clearances - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Lower interest rates, the 2016 Budget and a Federal Election \u2013 what does all that mean for property? \u00a0Michael Yardney gives us an insight and a warning as well. Andrew Mirams from Intuitive Finance explains what LMI or Lenders Mortgage Insurance is all about. As...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/\" \/>\n<meta property=\"og:site_name\" content=\"Realty Talk\" \/>\n<meta property=\"article:published_time\" content=\"2016-06-02T00:00:20+00:00\" \/>\n<meta name=\"author\" content=\"rolanrush\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rolanrush\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"33 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\\\/\"},\"author\":{\"name\":\"rolanrush\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"headline\":\"Aussies slow with property technology + Why not to focus on auction clearances\",\"datePublished\":\"2016-06-02T00:00:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\\\/\"},\"wordCount\":6524,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"podcast\"],\"articleSection\":[\"Kevin Turner\",\"Kevin's Update\",\"Latest Stories\",\"Shows\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\\\/\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\\\/\",\"name\":\"Aussies slow with property technology + Why not to focus on auction clearances - Realty Talk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2016-06-02T00:00:20+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Aussies slow with property technology + Why not to focus on auction clearances\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\",\"name\":\"Realty Talk\",\"description\":\"Your Trusted Voice For Property Investing. Anywhere, Anytime.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\",\"name\":\"rolanrush\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"caption\":\"rolanrush\"},\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/author\\\/rolanrush\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Aussies slow with property technology + Why not to focus on auction clearances - Realty Talk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/","og_locale":"en_US","og_type":"article","og_title":"Aussies slow with property technology + Why not to focus on auction clearances - Realty Talk","og_description":"Lower interest rates, the 2016 Budget and a Federal Election \u2013 what does all that mean for property? \u00a0Michael Yardney gives us an insight and a warning as well. Andrew Mirams from Intuitive Finance explains what LMI or Lenders Mortgage Insurance is all about. As...","og_url":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/","og_site_name":"Realty Talk","article_published_time":"2016-06-02T00:00:20+00:00","author":"rolanrush","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rolanrush","Est. reading time":"33 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/#article","isPartOf":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/"},"author":{"name":"rolanrush","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d"},"headline":"Aussies slow with property technology + Why not to focus on auction clearances","datePublished":"2016-06-02T00:00:20+00:00","mainEntityOfPage":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/"},"wordCount":6524,"commentCount":0,"image":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/#primaryimage"},"thumbnailUrl":"","keywords":["podcast"],"articleSection":["Kevin Turner","Kevin's Update","Latest Stories","Shows"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/","url":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/","name":"Aussies slow with property technology + Why not to focus on auction clearances - Realty Talk","isPartOf":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/#primaryimage"},"image":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/#primaryimage"},"thumbnailUrl":"","datePublished":"2016-06-02T00:00:20+00:00","author":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d"},"breadcrumb":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/channels.realty.com.au\/realtytalk\/aussies-slow-with-property-technology-why-not-to-focus-on-auction-clearances\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/channels.realty.com.au\/realtytalk\/"},{"@type":"ListItem","position":2,"name":"Aussies slow with property technology + Why not to focus on auction clearances"}]},{"@type":"WebSite","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#website","url":"https:\/\/channels.realty.com.au\/realtytalk\/","name":"Realty Talk","description":"Your Trusted Voice For Property Investing. Anywhere, Anytime.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/channels.realty.com.au\/realtytalk\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d","name":"rolanrush","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","caption":"rolanrush"},"url":"https:\/\/channels.realty.com.au\/realtytalk\/author\/rolanrush\/"}]}},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts\/8199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/users\/176692471"}],"replies":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/comments?post=8199"}],"version-history":[{"count":0,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts\/8199\/revisions"}],"wp:attachment":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/media?parent=8199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/categories?post=8199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/tags?post=8199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}