An interview with Geoff Cayzer
June 2nd, 2018
Geoff with his silver hair is the most recognisable agent and auctioneer in Albert Park, having been round for decades. He always has a smile on his face and in our opinion genuinely trying to help all he comes into contact with especially his selling clients. His auctioneering style is warm and humorous and most of all effective. When speaking with us we have found Geoff’s quote on vendor expectation, price and eventual result to be as close to 100% accurate as anybody can be. We don’t get that many calls from business owners about properties for our clients but we do from Geoff. One quirky point – never seen him on a mobile and we’re not sure if he has one.
Mal: Family Status and where do you live?
Geoff: Married with 2 daughters and have lived in the Middle Park area for some 30 years.
Mal: How long have you been in real estate and what is the company you work for?
Geoff: I have been in real estate since 1976 after being a live stock auctioneer for some 13 years, and formed Cayzer Real Estate in 1986.
Where do you mainly work (area) and what types of homes do you specialise in?
Our company specialises in the inner city precinct encompassing Albert Park, Middle Park, South Melbourne, Port Melbourne, Docklands & St Kilda. Most of the houses in these areas are of a Victorian or Edwardian nature on small allotments
What makes a good investment?
A good investment in one that gives you consistent return or capital appreciation
What makes a good family home?
This could be best described as one that has a good balance of house to land, and offers good accommodation for the quiet enjoyment of the occupants. The location of such a home is important as are the services and sporting facilities surrounding that immediate area.
What makes a good buying decision?
The decision to buy is something that people consistently put off. Over that period the property market has generally increased naturally depending on the area. It is important to be positive with the purchase of a property that meets your criteria and price range. Only time will tell whether that was a good buying decision or not.
Best investment decision you made?
My first house which was deemed to be the most expensive in the street at the time
Worst investment decision you made?
What are the top 3 precincts in your area, how big is an average block, what type/style of home, what is the dirt price and how much for a renovated home today?
Answered on audio
3 underrated streets in your area for family home buying (where, price, type and style, would they have to renovate)?
These 3 street offer a blend of renovated and un-renovated homes and are varying in their land size.
The three underrated streets that I would nominate would be:
Beaconsfield Parade, Albert Park/ Middle Park ($1 – 3 million)
Hambleton Street, Albert Park/ Middle Park ($700K – 1.4million)
Henderson Street, South Melbourne ($800K – 1.3million)
What would you say to a young couple with $800,000 looking for a family home specifically in your area – eg (where, type and style, would they have to renovate)?
If a young couple had $800,000 looking for a family home in our area we could only direct them to a single fronted property of 4 main rooms. One of the problems we are striking is that young couples are outgrowing their homes and purchasing in run off areas such as Port Melbourne, St Kilda East and Elwood.
What would you say to a downsizing couple with $1.5m specifically in your area (where, type and style, would they have to renovate)?
If a downsizing couple had $1.5million to spend, they could obtain a comfortable Victorian or Edwardian terrace home of 6 rooms (3 bedrooms). The cross section of homes could be 2 storey balcony terrace, small double fronted Victorian or a Victorian Double fronted weatherboard with good land. Another alternative may be to buy a new fully renovated town house of 20 squares of more.
Buyer Agents yes or no?
We strongly endorse the suggestion of Buyers Advocates in the support of purchasing a property by inexperienced buyers lacking confidence in their ability to research specific properties
Apartments or Houses?
We would recommend the purchase of apartments or houses across the board. These are two entirely different markets and are in most cases price driven. It is not usual for a purchaser to commence looking at a house to find that their budget does not align with the asking price. They therefore can purchase similar accommodation in the apartment form which may have extras such as elevation, balconies and car parking.
Auction or Private Sale?
We strongly recommend the auction system in our specific area. It is often said that an auction is a private sale with one extra line stating the date and time of the auction. In most cases all the procedures set for a private sale are done for an auction also. There is no three day cooling off period with an auction as there is with a private sale. Any offers made prior to, at or within three days of the auction, must be of an unconditional basis.
How can a seller maximise their value at sale?
To maximise the value of the sale a vendor must do all things necessary to attract multiple buyers and create competition for their house. In a lot of cases values are not reflective of the accommodation offered but more the presentation of the product.
What are the do’s and don’ts for buyers when dealing with selling agents?
We would strongly encourage that a prospective buyer forms an association with a couple of agents in their selective area that they can trust and be confident on the information provided. Agents will provide extra information that is relative to the sale if encouraged to do so. Be the agents friend!
The do not’s would be not to try to outsmart the agent at his job because they will beat you every time.
What do you think are the opportunities now with us?
Now is the best market that our Company has seen over the last ten years in which to purchase a house/apartment. Interest rates are at their lowest point and stock prices have been reduced considerably since last year. Be positive in your endeavours to find the house that suits you and broaden your geographical base.
Where is the market going in 2009 in your area?
The market this year will continue in its normal style with more of the same. It is best described as a very true market where buyer and seller are prepared to negotiate a reasonable outcome. Please don’t expect vendors to dramatically reduce their price as they may not be in a position to do so.
Who will win this year’s premiership and why?
St Kilda will win this year’s premiership as they have been trying for over the last 40 years and it’s their turn!
If a potential seller would like an appraisal or wishes to sell their home then please contact Geoff Cayzer on 9699 5999 or 9690 9782 (after hours) or via email firstname.lastname@example.org