We are now officially in the final quarter of a year in which the real estate market has been very strong. The housing bubble has led to great demand for real estate agents Sydney-wide. It has also made things more competitive.Let’s take a look at some real estate tips for this spring given the current state of the economy and how to capitalize on the high number of sellers in the market.
How is the real estate industry placed going forward?
With property prices on the downward swing after several months of high demand (brought on due to low interest rates and various other factors) the number of buyers in Sydney’s housing market looks to be on the verge of a plateuo. The property market has been running hot and effectively driving Australia’s economy since the mining industry slowed. However, the number of buyers is growing at a faster rate compared to that of buyers, so much so that experts are predicting a 7.5% reduction in property prices from March next year. The slowing of this market is expected to play out over the 12 months and into 2017.
As far as the real estate market goes, we can expect things to cool off eventually but for these spring months are going to see a great deal of players in the market looking to sell their homes. Now is as good a time as any from a seller’s point of view given that demand is still relatively strong and opportunities for real estate agents will certainly be presenting themselves.
But how can these opportunities be made the most of to deliver the best value to your clients?
Be honest with your clients
As always, it’s difficult to predict what will happen in this market. When managing your client’s expectations, be up front about what you kind of dollar value you expect to fetch on the market according to the current economic indicators. If the slowdown comes around earlier than expected, you might find that you struggle to meet expectations if you’ve overestimated interest and general demand. Make sure you’re clients are clued into the the current economic situation.
Up-to-date marketing collateral
Considering investing in additional marketing and advertising in the coming months. Self manageable online marketing techniques such as Goodle Adwords can be used relatively cheaply if you have a quality website. If you don’t, consider beefing your existing site up and providing additional info to make the most of online traffic. Marketing service providers can assist you in the process of organising business cards, brochures relatively inexpensively.
Keep in touch with existing clients
It always pays to check in with old clients and find out how they’re getting on. Providing information to them about the market and when might be a good time to sell might not result in their rehiring you straight away, but can be appreciated and create goodwill and further opportunities in the long run.
Keep an eye on current trends
With the market expected to show down at some point, it always pays to keep informed about whats happening from a macro-perspective to get a sense of the current landscape. The sale prices that particular homes are going for in suburbs around Sydney is also a must.
As always, make the most of your time in the lead up until christmas as thing usually slow down during this period. Happy selling to real estates agents and home owners looking to sell in the next few months!