Change is the only certainty

Agents take note! Gone are the days when quoting a good selling price for a property was enough to ensure a property listing. Today’s sellers demand much more from their agent starting with a proven ability to communicate campaign updates and statistics honestly and openly.

It’s not surprising that recent statistics show a fundamental shift in what is important to real estate clients when selling their homes. The entire market place has changed and the old “born local, stay local” mentality has all but disappeared. We have a much more itinerant population who are open to moving not only suburb, but state and country to find the lifestyle they are seeking.

The shift towards a more modern style of client representation is imperative and agents need to adapt in order to meet their clients’ expectations and build sustainable businesses. We examine the top 5 “then” and “now” agent criteria.

Traditional top 5:

1.Recommendation by family member or friend – although there is nothing wrong with taking a recommendation, making a decision on that basis alone is no longer enough.

2.Expected sale price quoted by the agent – in other words, the agent who quoted the highest expected sale price was often the most successful. Yet often as the campaign progressed, the expected sale price was adjusted down and the seller was left wondering why… Today’s sellers are more likely do their own research and know exactly what is a fair price for their property. They want the truth, not an inflated number that discourages realistic buyers.

3.Online marketing – everyone offers marketing on the internet today and that ability alone is no longer a differentiator. Sellers are looking for more wholistic marketing approach.

4.Have previously used the agent to buy or sell a property – using an agent you have previously had a good experience with is still a good basis for making a selection, but only if they have adapted to meet today’s requirements.

5.Experience and local knowledge – taking the “if they live and work locally, they must really know my property” approach. What is clearly evident today is that buyers often come from outside the suburb they are buying in to.

Today’s top 5:

1.Demonstrated professionalism and ability – sellers are now looking for agents who can back their “talk” with the “walk”. Facts, figures and a way of demonstrating the ability to market a property and close a deal are vital.

2.Deep neighbourhood expertise – it is important to sellers to feel that their agent really understands the “lifestyle package” that their property represents. If an agent can demonstrate that understanding to a seller, they will feel confident that they can demonstrate it to potential buyers.

3.Marketing acumen – sellers are much more savvy about the importance of marketing. It is no longer just about placing a classified advertisement in the newspaper and some photos on the internet. It’s about a campaign. Sellers are looking for agents who deliver a fully integrated campaign that uses the best photography, copywriting and other modern marketing tools across a wide range of mediums.

4. Value for money – what does an agent’s commission and fee truly represent? This is what today’s sellers are asking. If the value is there, clients will pay a fair fee for the right result.

5. Communication and responsiveness – providing accurate, honest reports with real data on a pre-defined, structured basis is what sellers demand. Being able to demonstrate a communication methodology and responsive manner is important – especially for women who are now represent the majority of property buyers and sellers.

Today’s smart seller will think outside the traditional and some what comfortable square of just calling in the local agent and focus on truly selecting an agent and an agency that can deliver today’s top 5 and get a top sale result for them!