The Biggest Agent Challenge in 2018: Vendor Price Expectations

In our current real estate climate, new research has revealed that the biggest challenge facing agents is the price expectations of property owners looking to sell.

Among the real estate agents of Sydney and Melbourne, we conducted a survey investigating the biggest challenges of the industry.  

The results revealed that;

  • 53% of agents found managing the price expectations of sellers as their biggest challenge of the year.

  • A further 31% said the biggest challenge was achieving the sale price their vendor was seeking. 

  • 16% of agents admitted that attracting an adequate number of interested buyers for a property was the most challenging part of their job.

Due to external factors and potentially higher international interest, Sydney homeowners have higher price expectations and are putting more pressure on agents than their Melbourne counterparts: 45% of Sydney agents said that the hardest part of their job is securing a sale price that meets the property owner’s expectations, compared to just 27% of Melbourne agents.

 

Gavl spokesperson Justin Nickerson – a multi-award-winning auctioneer who has sold more than 5000 properties via auction – confirms the survey results match his own experiences and the feedback he receives from agents.  

“Homeowners selling in the second half of last year expected properties to grow as fast as in the previous five years. They should still get the best price they can in the current market – and this comes down to marketing. Vendors will need to look for agents that have a multi-tiered marketing and sales strategy. “

Justin says vendors need to look for agents who are using cost-effective technologies that market their properties.

“Technologies like Gavl, which has livestreamed more than 7000 auctions, opens up the auction to a whole new digital audience – attracting 3.5m views in Gavl’s case. And with more people watching, including those interested parties who may not be able to attend the auction in person, a vendor has every chance of increasing the number of buyers watching.”  

Learn all you need to know about Gavl whether you’re a Buyer, Vendor or even an Agent!

 


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