Real estate agent real estate u has removed a 30-year lease on a property in Melbourne after it was hit by a $100 million housing crisis.
The rental property in the Melbourne suburb of Glenelg has been rented to a property manager for a number of years, but in May 2017, it was rented out for $1.5 million.
“Real estate agents are always looking for new properties, and this is the best property for the agent in the area,” Real Estate U Managing Director Matt Kiely said.
In June, a group of agents and real estate agents signed a deal with an Australian real estate agency to sell the property.
They said they would offer leases on the property for between $200,000 and $300,000, and would only rent out the home to other agents.
Mr Kieley said the real estate agent had agreed to the move, which was a result of a shortage of properties.
“The real estate industry is experiencing a shortage in the last few months.
We can’t be selling property in this market.
That’s why we’ve made this decision,” he said.
“The realtor, they’re going to find other people to rent out their property and they’re not going to be in a position to do that for the agents.”
In June this year, a $30 million housing bubble burst.
While prices fell for a few months, they rebounded rapidly in August.
Real Estate U managing director Matt Kiesley said many agents were still trying to sell their properties and many agents had to cut hours and reduce staff.
Many of the properties were sold for less than $100,000.
“There’s always a concern for agents in a bubble like this,” Mr Kiesly said, noting that there was a need for more agents to stay in the market.
“They need to make sure their clients have a secure deposit for a deposit, so they’re in a good position when the market is starting to cool down.”
Real estate agent Simon Stokes said the rental property had been “loved” by his clients for years.
He said it had been a “great” property.
“I’ve been doing this for 30 years and I’ve always been very comfortable with the quality of my work,” Mr Stokes told news.com-au.
However, Mr Stoke said it was important that agents stay in business.
“We have a very big market here and there’s a lot of agents, and if we go and try and sell our property for less, we’re going up against the price that the market has going for the properties,” he explained.
A spokeswoman for the Australian Real Estate Association said agents should continue to make rent payments and take the appropriate actions.
She said: “The best way to ensure you remain in a safe and stable market is to remain in your market and ensure that you keep a close eye on what is going on.”
If you’re making rent, don’t be alarmed when a property goes for less.
“It could just be that there’s more properties available to rent, and there might be other properties you’re looking at.”