Podcast Summary
Estate agents launch new rival to Rightmove and Zoopla: Estate agents introduce OnTheMarket as an alternative to dominant property listing websites, but its success is uncertain due to potential conflicts of interest and smaller marketing budget
A new rival to Rightmove and Zoopla, called OnTheMarket, has been launched by estate agents looking to break up the duopoly of the two major property listing websites. This new platform, which is partly owned by the agents themselves, could potentially disrupt the industry by offering an alternative to Rightmove and Zoopla, but it remains to be seen whether it will gain significant traction among property sellers and buyers. Some concerns have been raised about the potential conflict of interest for agents who are only allowed to advertise on one of the three platforms, and it is unclear how ordinary people selling their houses will react to this new development. Despite the potential benefits, OnTheMarket is a minnow compared to the marketing budgets of Rightmove and Zoopla, making it a challenging competitor in the industry.
New Real Estate Platform Seeks Mainstream Recognition: A new real estate platform aims to establish itself amidst competition by generating interest among agents and investors through a free book and podcast, while the Property Hub community continues to grow and provide valuable insights.
A new real estate platform is making waves in the industry but faces the challenge of gaining mainstream recognition and survival. The platform, which hasn't been widely publicized, needs to quickly establish itself and generate interest among agents and investors to avoid being overshadowed by competitors. Meanwhile, the Property Hub community continues to thrive, with regular meetups and a growing membership base. A new book, "100 Property Investment Tips," is being launched, featuring insights from various members of the Property Hub. The book, which is free for the first five days, offers unique perspectives and expertise from experienced investors, brokers, and letting agents. The Property Hub podcast, with over 1 million downloads and 2,500 members, is a testament to the value of the community and the wealth of knowledge it provides.
Considering Time, Energy, and Financial Costs in Property Investment: Investors should evaluate property investment opportunities by considering both financial costs and the time and energy investment required for potential savings and informed decision making.
Importance of considering both financial costs and the cost of time and energy when evaluating property investment opportunities. Jane Owen's tip from the first chapter emphasizes the value of accounting for the time and energy investment required in addition to the financial returns. Kylie Ackers' tip from the second chapter illustrates the significance of being bold in negotiations to potentially save costs. By being mindful of these factors, investors can make informed decisions and avoid being overwhelmed by unexpected expenses or time commitments.
Negotiating unexpected outcomes: Be bold in asking for what you want, hearing 'no' doesn't end negotiations, regularly review financing on investments, and allow tenants to personalize rentals.
Being bold and asking for what you want in negotiations can lead to unexpected outcomes. The speaker shared an experience where they successfully negotiated a lower price for a service, surprising both parties. This highlights the importance of putting in the ask, even if it seems unrealistic. Additionally, hearing "no" is not the end of the negotiation process and can provide an opportunity to reset expectations and potentially reach a mutually beneficial agreement. Another important takeaway is the need to regularly review financing on investment properties, as changes in property prices and interest rates can impact investment strategies. Lastly, allowing tenants to personalize a rental property within reason can lead to happier tenants and reduced turnover.
Encouraging tenant longevity through personalization: Allowing tenants to personalize their rentals can lead to longer stays, fewer void periods, and increased income for landlords. Balance is key to prevent excessive redecoration or damage. Focus on capital growth for long-term wealth in property investment.
Allowing tenants to personalize a rental property can encourage them to stay longer, leading to fewer void periods and increased income for landlords. However, it's essential to strike a balance and include clauses in tenancy agreements to prevent excessive redecoration or damage. Additionally, focusing on capital growth rather than just rental profits is a less common but effective strategy for building long-term wealth in property investment. Although rental income is crucial, it's the appreciation of property value over time that can make investors financially independent.
Maximize capital growth and tax savings in property investment: Shifting focus to capital growth, balancing rent and tax savings, and offsetting education costs against taxes can lead to significant savings and success in property investment.
Property investment is a long-term game, focusing on capital growth and tax optimization can help achieve financial goals. The mindset shift is to balance between growth and rent, and tax savings can be significant. Education costs related to property investment can be offset against taxes, but only if it's considered as developing an existing skill. A simple yet effective tip for renting or selling properties is to arrange group viewings or schedule private viewings one after another to create a sense of urgency or competition. These strategies, along with the tips and tricks in Chapter 7, can lead to substantial savings and success in property investment.
Leveraging creative tactics in property negotiations: Mentioning a buyer's disinterest in a bank can help sway negotiations in your favor. Learn from various perspectives with a free property investment book, leaving a review and telling a friend to grow the community.
Using creative tactics, such as mentioning a buyer's disinterest in a bank, can help push negotiations in your favor when selling or investing in property. Tom shared this insight from a collaborative book filled with 100 property investment tips, which encourages readers to learn from various perspectives. The book, available for free for the first 5 days, offers 93 more tips for those interested. To help spread the word and grow the Property Hub community, leaving a review on Amazon and telling a friend about the book are encouraged. The book is a valuable resource for property investors, providing new ideas even for those who have already consumed extensive property-related content. This week's resource recommendation comes from David Sables, who suggested the website "secret weapon dot org," which the hosts had previously discovered but forgotten about. By utilizing these resources and tips, property investors can expand their knowledge and potentially increase their success.
Optimizing Evernote for GTD and Property Investment: Combining Evernote with GTD enhances task management, prevents forgetting items, and boosts productivity for note-taking and property investment. Free instructional videos available at secret weapon.org, check out Property Hub's free course on using Evernote and Trello for property investment.
Evernote, a popular and widely used note-taking app, can be optimized for use with the productivity methodology known as Getting Things Done (GTD). By combining these two tools, users can effectively manage tasks, prevent forgetting important items, and improve overall productivity. This can be achieved through a series of free instructional videos available at secret weapon.org. Additionally, listeners are encouraged to check out the Property Hub's free course on using Evernote and Trello for property investment. A listener's review was read, expressing gratitude for the podcast's consistent, valuable content and inspiring listeners to start investing. The hosts promised to create an episode on using the equity from investment properties to purchase more properties in the near future. The Property Podcast team expressed their appreciation to their audience for their continued support and announced their plans to continue producing content for episode 101 and beyond. Lastly, they encouraged listeners to check out their free tips book, available at thepropertyhub.netforward/tipsbook.
Listen attentively and join mailing lists: Stay engaged with The Property Podcast by listening carefully and subscribing to the mailing list at prophecypodcast.com. Your support through reviews and modern air miles is appreciated.
Learning from this episode 100 of The Property Podcast is the importance of listening attentively and joining mailing lists. Despite the hosts' light-hearted banter and momentary confusion about the podcast name, they emphasized the significance of continuing to listen until the end and subscribing to their mailing list at prophecypodcast.com. They also expressed their gratitude for listeners' support through reviews and modern air miles. Although the hosts couldn't come up with profound words of wisdom on the spot, they reminded everyone that the value of the podcast lies in the information shared and the community it fosters. So, keep listening, join the mailing list, and don't forget to leave a review – that's the best wisdom we can offer for now. Thanks for tuning in, and we'll see you next week!
