Hey, guys. It’s Naomi Findlay here; Australia’s rapid renovation expert. This month, I’m bringing you a success tip about how to qualify the leads that come across your desk. I’m going to give you four of the most important things that you need to check.
When I say a lead, what I mean is you’ll find, once you start renovating, that leads or prospective properties or projects start to leap across your desk once you do a good lead generation funnel. It’s really important – because time is money – that you quality check – or QA – these leads that are coming past your desk to make sure that they are the right ones for you.
I actually use a 35-point checklist of quality checks to make sure that any lead that comes across my desk is worth me going to have a look at.
Seventeen of these things on this checklist are things that I check with the local council to which the property belongs. I want to share with you today four of those really important things.
The first one is to ensure that the property is not a heritage property. If it is, that’s absolutely fine. Some of the most amazing properties are heritage properties. But, it does have very specific implications as to what you can do and the cost to do it. You absolutely must check whether that property is heritage listed.
The second tip is I want to take you that one step further. I want you to check whether the property is in a heritage conservation area. Property might not be a heritage property, however it could fall within a heritage conservation area, which does mean that there will be some restrictions or conditions on what you can do to that property. That’s the second thing that you need to check.
The third thing you need to check is whether they have ever been any unauthorized building works on that property. When I say this, I mean whether there are any on record unauthorized building works on that property that the local counsel is aware of. Very important that you check that out before you buy the property. Again, it doesn’t mean that you can’t buy the property, but it means there’s an extra layer that you need to consider.
Last of my top four is whether there are any DA – development applications – lodged either in the neighbouring houses or in the surrounding area that may affect the value of that property.
There’s quite a few examples on a very famous TV show about the impact of not checking any pre-approved or lodged development applications around a property. It can be a million dollar mistake in some circumstances.
If you go buy yourself an $800,000 or a million dollar property thinking that you’re going to be able to increase the value quite substantially, only to find out a preapproved, massive shopping center, car park, commercial development or unit block has been planned for the near and surrounding area. It’s very important. That was my fourth one: always make sure you check for DA approved or lodged DAs in the neighboring blocks and across the road or in the near surrounding area.
As I mentioned, 17 of my 35-point checklist is actually about counsel checks. These are my most important ones that I wanted to share with you today. Is the property heritage listed? Is it in a heritage conservation area? Are there any on-record unauthorized DA or building works done to the place and is there a DA approved or DA lodged for substantial work that may affect the value of the property in the surrounding areas?
There are my tips for today, guys. Make sure you write them down. Integrate them into what you may already be doing. If you’d love to know more, you know where to find me.
I look forward to talking to you next month and I’ll see you soon, guys. Let’s renovate.