On 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.
So, when I say a lead, what I mean is you’ll find once you start renovating that leads or perspective properties or prospective projects that start to leak past your desk once you do a lead generation funnel. But, it’s really important because time is money that you quality check or you QA these leads that are coming past your desks to make sure that they are the right ones for you.
Now, I actually use a 35 point checklist of quality checks to make sure that any lead that crosses my desk is worth me going to have a look at. Now, 17 of these things on this checklist are things that I check with the local councilor to which the property belongs. And I want to share with you today four of those really important things. So, here we go.
CHECK IF THE PROPERTY IS HERITAGE PROPERTY
The first one is to ensure that the property is not heritage property. Now, if it is, that’s absolutely fine. Some of the most amazing properties are heritage properties. But, it does have a very specific implications as to what you can do and the cost to do it. So, you absolutely must check to find out whether that property is heritage listed.
CHECK IF THE PROPERTY IS HERITAGE CONVERSION AREA
And the second tip is I want to take you that one step farther. I want you to check if the property is a heritage conservation area. So, the property might not be a heritage property however, it could fall within a heritage conservation area which again does mean that there will be some restrictions or some conditions let’s call them, on what you can do to that property. So, that’s the second thing that you need to check.
CHECK FOR UNAUTHORISED BUILDING WORK
Now, the third thing you need to check is whether there have ever been any unauthorized building works on that property. So, when I say this I mean, whether there are on record unauthorized building works on that property that the local council is aware of. It’s very important to check that out before you buy the property. Again, it doesn’t mean you can’t buy the property but it means there is an extra layer that you need to consider.
CHECK FOR DEVELOPMENT APPLICATIONS
And lastly of my top four is, whether there are any DAs, or Development Applications lodged either in the neighbouring houses or in the surrounding area that may affect the value of that property.
So, there are quite a few examples on the very famous TV show about the impact of not checking any pre-approved or lodged development applications around the 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 pre-approved massive shopping centre or a car park or commercial development or unit block has been planned for the near and surrounding area. So, it’s very important.
That was my fourth one. Always make sure you check for DA approved or lodged DAs in the neighbouring blocks and across the road or in the near surrounding area.
As I mentioned, 17 of my 35-point checklist is actually about council checks and these are my most important ones I wanted to share with you today. Is the property heritage listed? Is it in a conservation heritage area? Are there any on record unauthorized DA or building works done to the place and is there a DA approved or a DA lodged for substantial work that may affect the value of the property in the surrounding area.
So, there are my tips for today. Make sure you write them down, integrate them into what you may already be doing and if you would 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.