Faced with economic uncertainty and subdued buyer confidence, young agents are becoming increasingly attracted to agencies that offer greater support, Realmark managing director John Percudani has claimed.
“Young agents find it [market conditions] especially challenging as they may not have faced the sensitivities of the situation before,” Mr Percudani said.
“Agents working for large companies sometimes become ‘lost’ in the work environment and unable to access direct support whereas small agencies tend not to have the resources available to offer a collegial environment for their agents.”
All real estate professionals have been forced to change and adapt their practices to meet the needs of the current market, Mr Percudani said.
“Being a real estate agent is no longer just about selling properties, it’s about relating to people and understanding their needs.
“We aim to create a residency of understanding within the agency which makes employees feel supported,” he said.
Mr Percudani’s comments were made in light of issues raised at the recent National Young Professionals in Real Estate (YPIRE) Conference.
Sean Hughes, director of Realmark North Beach and speaker at the YPIRE Conference said one key issue was dealing with complex and emotionally charged transactions.
“Agents are confronted with quite complex client scenarios; sometimes you find yourself dealing with people that are going through a marriage separation or a difficult financial phase in their life,” Mr Hughes said.
“These types of situations can be highly emotional and the agent needs to be adaptive. Home owners often have an emotional connection to their property, making the transaction quite sensitive. Add to that, the current economic conditions make the role of an agent even more difficult.”
Mr Hughes said that agents must be prepared to deal with confrontations as well as be highly skilled in terms of negotiating in order to achieve the desired results for clients.