Media release - 22 June, 2012

Raine & Horne Charmhaven agent named among Australia’s best

Andrew Sorensen, Principal of Raine & Horne Charmhaven, has been named by leading property publication, Real Estate Business, as one of Australia’s top 100 real estate salespeople, the only Central Coast agent to make the list.

Also among the winners were Raine & Horne Double Bay-Bondi Beach Principal, Ric Serrao, who grabbed third, and Raine & Horne Neutral Bay’s David Buttel, who secured a ranking of 79^th.

Mr Sorensen, who placed 96^th, was rated on the basis of sales volumes, sales numbers and average sales prices achieved in the 2011 calendar year.

“But we looked beyond sales volumes and average prices as part of our research, as we believe there is great merit in understanding what the top performers are doing within their businesses to ensure they hit consistently high volumes,” says Simon Parker, Editor, Real Estate Business.

Mr Sorensen agrees that business initiative is crucial, and attributes his stellar success to local market knowledge and a commitment to the auction process.

“Almost 100% of Raine & Horne Charmhaven’s sales involve the auction process, with homes selling before, during and after auction,” says Mr Sorensen, who was also named Raine & Horne’s leading NSW agent in 2011 for number of sales.

“It’s a process that draws out committed buyers and by establishing a deadline, which is the auction itself, we have been able to seriously slash the time it takes owners to sell their Central Coast homes and maximise prices.

“We call this ‘days on market’, and currently Raine & Horne Charmhaven is selling homes within an average of 27 days, while the local market is averaging 112 days.”

It also helps that the Charmhaven market, which includes the likes of Blue Haven, San Remo, Tuggerah and Warnervale, is very affordable for first home buyers, upgraders and investors.

“We have a combination of existing homes and new developments, so the change in the First Home Owners Grant (FHOG) in NSW will create plenty of opportunities for buyers,” says Mr Sorensen.

The $7,000 FHOG will cease to apply to the transaction of existing homes completed on or after 1 October 2012, while the $15,000 grant, which will apply to new homes only, will take effect from this date.

“We already have first timers trying to take advantage of the grant before the deadline, while the beefed-up benefits for new homes will favour aspiring buyers looking at new homes in estates such as Hamlyn Terrace, Wadalba and Woongarrah after 1 October,” says Mr Sorensen.

That said, Mr Sorensen contends that no single buyer segment is dominating the Charmhaven market, with generous numbers of investors vying with first timers and upgraders for well-located homes.

“We are seeing upgraders moving from Western Sydney suburbs such as Liverpool and Penrith, as well as investors spooked by concerns about the global economy and weak share market returns buying into the local market,” confirms Mr Sorensen.

Affordability is the key driver for buyers and investors, with three bedroom homes starting from $200,000. For example, Mr Sorensen recently sold 52 Wandewoi Avenue, San Remo to a first home buyer. This three bedroom home with a renovated bathroom and kitchen sold for $205,000.

Likewise Mr Sorensen sold 11 Settlement Drive, Wadalba, a four bedroom, two garage home built by AV Jennings to an investor for $340,000 on Monday 18 June.

“This property will generate a weekly rental of $410, which represents a healthy gross rental yield in excess of 6.25%,” says Mr Sorensen.

Mr Sorensen, who is selling almost two homes a week, says it’s important to win industry recognition from the likes of Real Estate Business.

“This result is about winning credibility from a well-respected industry stakeholder such as Real Estate Business for the high level of service we deliver at Raine & Horne Charmhaven to our clients,” says Mr Sorensen.

“It also confirms the resilience of Raine & Horne Charmhaven, which is set for its biggest year ever despite the travails in places such as Greece and Italy.

“The Real Estate Business award recognises that our processes work. It doesn’t matter if it’s an industrial shed or waterfront property, auctions work best.”

-ENDS-

For further media information contact:

Andrew Sorensen, Principal, Raine & Horne Charmhaven on 0410 563 146

Simon Parker, Editor, Real Estate Business, 02 9922 3300

Andrew Harrington, National Marketing & Communications Co-ordinator on 02 9258 5400

Central Coast agent named among Australia’s best by leading property magazine