INCREASED transparency will help boost seller confidence in a changing market and is a key to increasing sales volumes in 2019, the Australasian Real Estate Conference will hear.
Ray White Bridgeman Downs sales director, Sonya Treloar, will address the national conference for property industry professionals on the Gold Coast next month.
She said agencies can also contribute to the sales volumes push, by “layering up” within the company.
CoreLogic property data shows the number of Australian capital city properties that went to auction in the second week of May dropped 46.9 per cent, from 2279 last year to 1210 this year.
Ms Treloar said the number of buyers in the marketplace was also down, however those currently looking were more likely to be finance-approved, serious shoppers.
“You only need one buyer to buy a house,” she said.
And almost half are coming from interstate or overseas.
“I just sold a property in Aspley to a UK couple who had never seen the property,” she said.
“We worked via phone or email and they just purchased the property.”
With eight and a half years selling property in Brisbane’s northwest, Ms Treloar has moved from rookie agent to property adviser who last year sold 143 properties worth $104 million.
Most buyers have been local, however 32 per cent have come from interstate and 12 per cent from overseas.
“I have Chinese and Indian speaking agents in my office to communicate with our clients and we obviously have email, Instagram, paper, print and online to help us.”
She said a seller’s price expectations are sometimes beyond what the market is prepared to pay, and agents should communicate this to the seller in a transparent way.
“You can’t sugar coat information,” she said.
“A seller loves their home, their home is their castle, their expectations are above what the market is prepared to pay.
“To do our job well is to help give all that information to the seller, to inform the client what the market is saying about their property.”
Internally, she said agencies need to focus on sales volume over price.
“We can’t change the sale price in a suburb, but we can change the amount of properties we sell so volume will outweighs sales price,” she said.
One way to do this is by ‘layering up’.
“We each have lanes, and I stay in my lane and I have my client manager and administrator and we each have specific tasks.
“And then we layer more stock in and more stock out and communicate and have the resources and processes in place to give every seller the level of service that we commit to them from the initial signing to working with every buyer and matching them up with a home.”
To ensure this level of service, Ms Treloar said prospective sellers should ask three questions before settling on an agent to sell their house.
“You need to ask for current data on testimonials from the buyers and sellers to validate the sales,” she said.
“Ask to see what communication you will receive, do they speak to you after every inspection.
“And then ask to see evidence of the sales they’ve made.”
Ms Treloar said AREC was a major event on the national real estate industry calendar, used widely as a tool to sharpen skills and work together to grow the housing market by better supporting buyers and sellers.
“The market is changing, and that is positive, it is new. I believe in listening and helping ourselves and teaching ourselves, listening to other agents about how to process stock and communicate to buyers and sellers.”
The 22nd AREC will be held at the Gold Coast Convention and Exhibition Centre from June 2-3.