Gold Coast property has been the talk of the town ever since the Commonwealth Games shone a light on our beautiful city. Here, we pick the brains of Thomas Fliniks is a Sales & Marketing Consultant for Ray White – Hope Island. He is one of the Gold Coast’s most well-respected agents.
Let’s talk Gold Coast Property. Are you originally from the area or did you move here?
Originally, I grew up in Brisbane and moved to the Coast when I was 21. In hindsight, I don’t know why it took me that long. I can’t imagine living anywhere else.
What properties are selling well right now in Hope Island?
It is a very healthy market, but, as in all markets, there are different responses to the types of properties available. High quality gets high price, average gets average and poor in kind. Ultimately people aren’t going to pay premium dollars unless you’re providing to them a premium product. Hope Island is special to me, I love it. It really is its own little world, hence why reputation is paramount for me. It’s simply impossible to have longevity in an area like this if all you care about is making a quick buck.
What is selling well across the Coast?
Gold Coast property in great positions always sell well. Properties that are priced correctly sell well, as do properties that will attract multiple buyers. Properties that are presented well in physical appearance always have the upper hand. That being said, it’s also imperative that the property has solid marketing covering all three major platforms, digital, social and of course print.
What is a harder sell right now?
When properties are correctly priced, everything sells so we are mainly talking about overpriced properties. Any property is saleable if you get the price right.
What do you predict for the property market over the coming few years?
There are a few indicators that you can use to predict how the property market will go in the next few years. People need to carefully watch the health of our economy and our GDP, which is currently showing some slight signs of improvement. Also keep an eye on interest rates. They play a major factor and are currently at record lows, so they could go higher. Higher interest rates put the brakes on house price increases.
And employment figures?
Property growth is never strong when unemployment is high or rising, but now it is in a comfortable position. We also need to look at the balance of supply and demand – currently there’s an undersupply of properties for sale and strong demand levels. As more properties come on the market that equation will change.
What about inflation?
Inflation which has been somewhat benign for a number of years, is showing some signs of ticking up. All in all, the signs are strong for 2020. Trying to predict beyond that is crystal ball gazing and if you speak with ten different economists you will get ten different opinions.
What about Hope Island?
As for Hope Island I think we will see a steady push in price for large North-to-water blocks. There’s no getting around the fact we have an ageing population that don’t want to manage stairs, hence single level waterfront properties are really where the money lies moving forwards. If building new, position is first, closely followed by an expertly designed home. Good buys right now are small renovation-ready properties with good bones, i.e. high ceilings, good positions. Across Hope Island, buying the right block of land and putting the right house on it can position you really well moving forwards.
What advice would you have for home buyers?
Get your finance approved well in advance of buying a home. It is taking longer to secure finance, although it is available. Secondly, use a broker because they are now a vital component of securing finance, and finance at the best rate. Do your homework, don’t just look online. Check printed real estate listings. Get out and look around at all the open homes, so you can get a good feel for the range of selection that is out there. Also, find an agent you feel comfortable with, to try and do as much legwork through that agent as possible.
What advice do you have for home sellers?
Marketing is so important for a property. Buyers these days are very busy people and they don’t have time to be sitting on the internet constantly looking for new listings. They now choose the properties to look at via notification from agents, or flicking through the printed press, and social media notifications.
Is it a good time for renovation?
There’s never really a bad time for a renovation, that being said if you’re going to do something do it properly and completely. There’s nothing worse than a cheap renovation, or a property that is half and half.
Is the Gold Coast a good place to flip property?
There’s opportunity all across the coast, it’s a dynamic market that usually has a little more stability than the likes of Sydney and Melbourne. You get out what you put in. Don’t skimp on things but don’t over-capitalise either.
What should investors look for if flipping property?
Firstly position, secondly good bones, finally calculate what your expected sale price will be by the time you’re done. If you can’t make the numbers stack up then walk away. Emotion is ruiner of bank account balances.
What do you love most about selling real estate on the Gold Coast?
Across Hope Island it’s definitely the people. I really love helping others and I find more often than not, once you have a relationship with someone where they understand you’re not just there to line your pockets, you can genuinely change their lives for the better. That feeling is second-to-none.
Gold Coast Property – How did you get into it?
Although I wanted to be a real estate agent after leaving school and certainly felt at home in a sales role, I never really pursued it through a lack a drive, focus and in hindsight probably maturity. Shortly after turning 25 I asked myself “if not now, when?” Initially I wanted to go into commercial sales due to its more structured approach and Monday-to-Friday lifestyle. Ironic now I work huge hours usually 7 days a week! Looking back, it was very fortunate that didn’t eventuate as I landed a job as a sales associate alongside one of our company elites, Matt Gates. Matt was and still is a mentor and a huge influence on me. I don’t know where I would be without him. He taught me many things that take people 10+ years in the industry to learn.
And after that?
After 2 years with Matt an opportunity arose with our Hope Island to work as an independent agent. Matt and I discussed and agreed it was time. Although the first year came with a great many personal challenges it was phenomenal for growth both as a person and an agent. Thankfully my support crew in team leader Craig Caughlan and CEO Andrew Bell were on call to guide me through many situations and key learnings. After 2 years as a solo agent I’m happy to say I’ve achieved a 10/10 in every single review and achieved a huge number of record prices across the Hope Island area. What I love about my job is being able to help people every day – it has never been about the money for me. I love that feeling that I get when I know that I’m the reason that buyers are in their beautiful new home.
Thomas Fliniks can be reached on 0406 397 547 or click here. ■
Gold Coast Property – the most expensive buy… check it out!