Times have been tough for the real estate industry, but things are finally looking up. We asked three agents what challenges they’ve experienced and what they’re predicting for the days ahead.
Partner at Chadwick Real Estate
Challenges: Lack of predictability
A shifting market requires sales agents to be nimble and one of the biggest challenges we’ve faced is providing timely advice to clients. Reduced stock levels, negative buyer sentiment and uncertainty in the political and banking sectors have made it difficult for agents, as they’ve been called upon to not only interpret, but predict, when clients should act or hold.
Actions: Seller nurture
We rapidly increased our face-to-face meetings with sellers, so they’re armed with all available information. This has allowed us to ensure market and buyer feedback is addressed in a timely manner and adjustments to our sales strategy and price are addressed earlier in each campaign.
Predictions: Increased buyer engagement
The property market is always in a state of transition. What we’ve found is that since the Federal Election, buyers have been far more comfortable to engage and make decisions. Spring will be the ultimate test. I think supply will increase and we can only hope demand is at the ready.