Sep 29, 2023
The market is still moving along nicely due to low supply that is outweighing demand. However, in the midst of a financial climate where banks are playing it safe, the choice of selling a property becomes a pivotal decision for both sellers and real estate agents - in terms of achieving the best result. Traditional sale methods may generally not be as appealing, but agents still seem to be pushing auctions without considering if there is a better way. Then there is the other question, which was pointed out recently by a great real estate coach and auctioneer, Tom Panos: Is the agent good enough to be running the auction? Most agents will tell you auctions offer a unique advantage in uncertain financial times and that they create an atmosphere of urgency and competition, compelling potential buyers to act quickly. This approach works well if you're happy to sell at any price and just want the certainty of selling to a cash buyer and moving the risk of last-minute financing issues onto their shoulders, not the sellers. However, what is worth more to you? Certainty or say, $200,000 more? We recently listed a property for sale at auction against our recommendation; it passed in, and we ended up selling it for more after the auction. The seller was happy with the result but later said to me, "We should have just listened to you in the first place and would have sold in half the time." This seller was misled by other agents quoting grossly inflated clearance rates. They ended up going with our agency because they considering us better negotiators, more honest and less driven by self-promotion, but what prompted them to want to auction was many other agencies including sales before the auction or sold after the auction in the clearance rate they were quoting, giving the customer the perception that the success of the auction is high. When a seller and their agent sell a property before the auction it's usually because they've found the best buyer who is willing to pay more than anyone else, and they sell after the auction because sometimes it takes a little while to find the best buyer - that's the reality. Unfortunately though, sometimes the agent is pushing auction because they want to be paid in 30 days from when the property is sold or because it's an easy way to buy the listing (tell the seller what they want to hear) and deal with that seller's grossly inflated price expectations over the next four weeks without losing the listing to a more honest and transparent agent. Either of these two tactics, in my opinion, are morally and ethically wrong. Any seller that is witnessing an agent spruiking big auction events to as a means to get the best result should ask them, "How many did your agency have listed at the last event, and how many of those sold under the hammer at the event, not before and not after it?" In conclusion, while auctions aren't yielding the same results they were twelve months ago, they still offer security for a seller who isn't completely driven by achieving the best price. Agents should, however, consider a bit of creativity in their negotiations and not focus on the "one size fits all" approach. Additionally, they should always be focused on achieving the best result and telling the truth, even if it's not what the client wants to hear. (Note/Tip: This would vastly increase the public's perception of real estate agents.) If you want some honest advice about achieving the best result for your home, give our office a call today - we'd love to help! Have a good weekend. Cheers, Henry...
Sep 28, 2023
In the world of customer service, the real estate industry stands out as a unique and challenging arena – it has one of the highest turnovers of any industry in Australia. It's a field where emotions often run high, expectations are diverse, and transactions involve significant life decisions. To excel in this industry, professionals must recognise that the key to success lies in the people they interact with, whether it's clients, colleagues, or even the occasional difficult customer. One crucial lesson I've learned is that in real estate, as in life, you should surround yourself with good people. If someone treats you with respect and collaboration, you bend over backwards for them and ensure they are a client for life. On the flip side, if someone approaches interactions with hostility or negativity, let them be someone else’s problem – chances are they’ll end up with the real estate agent they deserve anyway… if you know what I mean .. haha! Building strong relationships in the real estate industry is invaluable. Connecting with great people, both clients and colleagues, can make all the difference in your career. When faced with a challenging customer who demands to be taken off your list or refuses further communication, just do it – and don’t look back. Focus on investing your time in the people who want and appreciate your help. There is an old saying, “Leopards don’t change their spots” and trust me, someone who is not nice to you (or anyone for that matter) is not worth your time (unless it’s to help a client) and won’t change unless they want something from you, and then they’ll go back to treating you the same way they did before. In essence, success in the real estate customer service industry is a reflection of the quality of relationships you build. The best professionals understand that by fostering positive connections and treating others with professionalism and empathy, they create a ripple effect of goodwill that can transform even the toughest of customer interactions into valuable learning experiences. So, remember, in real estate, it's all about the people – the clients you serve and the colleagues you collaborate with – and the effort you invest in these relationships can make your journey in the industry truly remarkable. If you’re a real estate professional who is sick of negative interactions, seeks more positive relationships and believes the industry can be better, then give me a call, I’d love to talk about what that journey looks like for you. Cheers, Henry...
Aug 31, 2023
Brisbane, the vibrant capital of Queensland, is truly coming into its own. With a burgeoning culinary scene, a quietly thriving tech industry, and its upcoming role as the host of the Brisbane Olympic Games, the city's evolution is undeniable. One event that perfectly encapsulates this growth is the iconic Brisbane River Fire Festival, a celebration that not only lights up the night sky but also enhances the very fabric of the city's lifestyle. The Brisbane River Fire Festival, an annual fireworks extravaganza, has become a signature event that draws locals and tourists alike. Its dazzling display of pyrotechnics set against the backdrop of the Brisbane River highlights the city's natural beauty and landmarks. Beyond its visual splendour, the festival fosters a sense of community, reinforcing the social fabric of the city and encouraging connections among residents. This cultural growth is closely intertwined with the city's development across various sectors. The emergence of diverse dining options, the rise of the tech industry, and the anticipation of the Brisbane Olympic Games are transforming Brisbane into a dynamic metropolis. As the city garners more attention and opportunities, these elements collectively contribute to an enriched lifestyle for its residents. I was fortunate enough to be part of the Queensland Technology and Innovation festival this week and share a panel with some interesting industry figures. The content from the speakers and seeing what is being developed was exciting to see. I remember years ago feeling very alone when it came to meeting tech-heads. However, we’ve recently sold 3 properties to people that work in industry ranging from $300,000 to multi-million-dollar homes. I always enjoy talking to them about their work and chatting with them about our technical aspirations for real estate, and it’s no surprise they all tell me the industry needs the shakeup. Anyway, this exciting transformative phase is set to influence the local property market. The influx of new industries, increased cultural appeal, and global events like the Olympics can drive demand for housing. As Brisbane gains recognition on the international stage, the property market might experience heightened interest from both domestic and international investors. However, careful consideration must be given to maintaining housing affordability and preserving the city's unique character as development progresses. In conclusion, the Brisbane River Fire Festival stands as a radiant symbol of the city's growth. Its celebration of community, coupled with the rapid development in various sectors and the upcoming Olympic Games, augurs well for Brisbane's future. While the property market could see positive impacts, it's crucial to strike a balance between progress and preservation to ensure that the essence of Brisbane's charm remains intact. If you’re buying, renting, selling or need a new property manager get in touch with our team. Otherwise, have a great River Fire weekend! Thanks again for reading. Cheers, Henry...
