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Today’s read time: 5 minutes, 6 seconds.

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SALES

Strategies for agents as listings surge

Last month, there was a surge in new and auction listings, reaching a five-year high, suggesting that sellers may be trying to capitalise on peak market conditions.

Bianca Denham, Head of Performance and Recognition at Ray White said that while some areas continue to see price increases, Sydney and Melbourne experienced declines, indicating a multi-speed market across Australia. The excess stock may be absorbed in some regions, but other areas could see properties accumulate.

Many agents in the industry have only experienced booming conditions, making it crucial for them to adjust to a potentially cooling market.

Key strategies include adapting to shifting benchmarks, maintaining strong communication with sellers, and monitoring critical indicators like inspection numbers and days on market.

Benchmarking and pricing flexibility

Agents must avoid getting stuck on past price benchmarks as the market can shift quickly, said Bianca. "When the market corrects, it can happen with great speed. It’s important that you don’t get stuck in the past and end up costing your clients more money by protecting a dream of a certain price."

Instead, agents should remain adaptable and focus on what current buyers are willing to pay, ensuring sellers achieve the best possible result under current conditions.

Prioritise communication

In a changing market, communication with sellers is key to managing expectations. "Now is the time to reinstate weekly vendor reporting and face-to-face meetings,” explained Bianca. Frequent updates, even with bad news, help keep sellers informed and maintain trust. Delaying uncomfortable conversations about price realignment could harm the relationship and the sale.

Monitor market indicators closely

Paying attention to early signs of market slowdown, such as declining inspection numbers and rising days on market, is essential. "An additional ten days on market per listing can reduce the overall stock clearance number by almost 20 listings per year." Agents need to take proactive steps to drive buyer interest and avoid letting stockpile growth stretch their resources and impact their business efficiency. Read more on Bianca’s advice here

ICYMI, last week we covered some tips on how to navigate buyer hesitation after the RBA hold

TOGETHER WITH AURORA REALTY

Managing a diverse portfolio for all kinds of landlords, from first-time investors to those renting out family homes, Aurora Realty covers the entire Brisbane metro area and beyond with offices in Bulimba and Bayside.

What sets Aurora apart? It’s all about property management, not sales, giving them an edge in the rental market. Their team is packed with experience, with most of their property managers having been in the industry for over 20 years, managing assets valued at over $15 billion for more than 7,000 landlords in Queensland and New South Wales.

They use some of the latest technologies and innovative strategies, like tenant-matching algorithms, to fill vacancies fast and for added convenience offer inspections six days a week. Find out more about Aurora Realty here*

SMART SNIPPETS

Negative gearing: PM’s housing supply headache versus reform
The Prime Minister had hinted at potential changes to negative gearing but quickly backpedalled, worrying that tinkering with it might worsen the housing supply. Meanwhile, RMIT’s Dr Liam Davies offered up a middle ground - keep tax perks, but only for landlords who play fair with rental standards. The debate heats up as policymakers weigh supply fears against making housing better for everyone.

Tax hikes won't cure housing woes
Australia's housing crisis won't be solved by heavier taxation, according to industry experts. The Housing Industry Association's Chief Economist claims increased taxes will only lead to fewer homes being built, exacerbating affordability issues. Instead, they're calling for less government interference and a focus on tackling supply constraints.

Property confidence steady despite supply concerns
The Property Council's Confidence Index rose slightly to 108 in September, but housing supply remains a major worry. Construction expectations are below average, while price growth expectations soar. Industry leaders warn Australia will fall short of its 1.2 million new homes target by 2029 without further reforms. The property sector calls for changes in planning, tax settings, and infrastructure to address the housing crisis.

SOUND WAVES

The danger of workplace gossip (and no, we’re not overreacting)

Today’s curated listen is about why chit-chat in the office is great, but gossip can be downright destructive.

Read the article from the Careerstone Group here

AGENTS ON SOCIAL

After a three month dry spell he’s desperate to close the deal, but even this agent can’t ignore the horror of this buyer fantasising about making a pizza with pineapple in the new kitchen. I mean, everyone has their breaking point, right?🍕🍍🚫

@therealestestate

When the realtor keeps it too real! 🤣🤣 #realestatememes #realestatefun #realtor

Seen an Agent On Social we should include? Let us know here (email link)

Wishing you a productive day

Elite Agent is crewed by Mark Edwards, Catherine Nikas-Boulos, Rowan Crosby, and Samantha McLean. We aim to uplift the real estate industry by delivering forward-thinking, hype-free news and education that fosters knowledge and fuels ambition.

If you see a * beside a story, it means it’s a sponsored post. To enquire about advertising with us, visit eliteagent.com/advertise.

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