GOOD MORNING FROM ELITE AGENT

Want to know where some of your buyers have gone? They’re investing in some of the quirkiest commercial properties around. From car washes (yes, with pet-washing stations) to drive-in theatres that scream “future residential site,” savvy buyers are exploring unconventional commercial assets. Even abattoirs and, wait for it, adult entertainment venues are attracting interest for their unique returns and redevelopment potential.

Today’s read time: 4 minutes, 30 seconds.

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SALES

Maximise your deals: strategies to close before the year-end

With the end of the year fast approaching, Darren Krakowiak of CRE Success advises agents to act swiftly in the remaining weeks.

December's productivity drop and January's lull mean the next eight weeks are crucial for turning listings into completed deals. He recommends focusing on securing pending authorities, closing the gap between buyer and seller expectations, and pushing leasing opportunities.

By proactively managing market challenges and streamlining the closing process, agents can maximise their pipeline and ensure more deals (and presents under the tree) by Christmas.

Focus on securing pending authorities

Darren stresses the urgency of getting potential listings signed now, as waiting until 2025 may bring increased competition and unpredictable market conditions.

"Create a sense of urgency" with clients by using data to show that now is an ideal time to list properties while buyers and tenants are still active. Market data highlighting low competition or active buyers can boost client confidence, helping agents secure exclusive authorities quickly.

Close the expectation gap between buyers and sellers

The biggest hurdle in today's market is often the mismatch between what buyers are willing to pay and what sellers expect. He suggests using "market data to educate" sellers who are holding out for last year's prices, encouraging them to be more realistic.

He also advises pushing buyers to make offers, even if they are below the asking price, as this helps initiate negotiations and provides a basis for adjusting seller expectations, ensuring that transactions can be closed before year-end.

Streamline the closing process to avoid delays

With the holiday season looming, Darren emphasises the need to "push for timely settlements." He recommends that agents proactively coordinate with solicitors, financial institutions, and other parties involved to ensure contracts, financing, and approvals are handled efficiently. Any delay at this stage could push closings into the new year, potentially derailing deals.

By streamlining the process and addressing issues early, agents can avoid unnecessary delays and finalise more transactions before the Christmas slowdown.

ICYMI, yesterday we covered tips on “emotional intelligence” in real estate

TOGETHER WITH REAPIT

Tools to drive agent success

Reapit is gearing up to introduce its latest platform updates at Elevate '24, featuring enhancements to key platforms like Console Cloud, InspectRealEstate, AgentBox and Move Me In. The update will offer new tools for streamlining communications, prospecting, and data insights, designed to help agencies grow their businesses more efficiently.

Matt McGown, Chief Product Officer, describes it as an important development toward creating a unified platform for agents. “Elevate '24 is not just a product update – it’s a significant leap forward in our mission to create a single platform solution.”

The new features will be officially launched on 24 October, and registration is free for agents looking to build and grow their businesses.

For more information, read about Reapit Elevate ‘24 here*

SMART SNIPPETS

September 2024 listings hit highest volume since 2015
Canberra, Sydney, and Perth led the rise in new property listings, with increases of up to 19.8%. While most capitals saw growth, Darwin and Hobart experienced declines and regional markets also had mixed results, with strong gains in Queensland and NSW but declines in Tasmania and the Northern Territory.

Unit markets struggle despite affordability gains
If you’re working with unit buyers in Sydney or Melbourne, it’s worth noting that many unit markets are still below their peak values from the 2010s. CoreLogic data shows that 65 unit markets are under their previous highs, with some Sydney suburbs down by 18.4% since 2017. This is largely due to an oversupply of investment-grade units from that decade, leaving many owners now selling at a loss.

House purchases decline in NSW
Property preferences in New South Wales are shifting, with house purchases having fallen to 58.56%. This trend is particularly notable among first-time buyers and suggests a growing demand for more affordable and lower-maintenance living options, especially in urban areas.

Balancing seller transparency and investor impact
Joel Davoren, Managing Director of RE/MAX Australia, believes there is a "seismic shift" in real estate, where the traditional "buyer beware" approach is transitioning to "seller beware". With governments, regulatory bodies, and lobbyists advocating for stronger consumer protections, stricter regulations are placing more burdens on property investors.

SOUND WAVES

Why saving seconds is better than hours

For real estate agents, time is money, so every second counts. Today’s curated listen explains why zipping through your inbox with keyboard shortcuts or automating those follow-up emails will save you seconds, upon seconds. Even tiny tweaks, like setting bills on autopay or using a CRM more efficiently, will add up to hours saved each week.

Dive straight into the listen below or the deeper dive here.

Read the article from Time here

AGENTS ON SOCIAL

Real estate agents and coffee are a love story for the ages. Who needs a fancy sit-down when you can power-walk with a half-finished latte and still seal the deal? The hustle waits for no one (and neither does the caffeine). ☕️🏃🏽‍♀️‍➡️

@searchpropertyau

It's a need, not a want 🤭☕️ #coffeeaddict #coffeetime #officehumour #workhumour #workbestie #buyersagency #searchpropertyau

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, Giverny Pringle, Charmagne Arrubio 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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