Despite shaky consumer confidence and price corrections occurring across the country, a prominent industry trainer has claimed that this is the best real estate market agents will ever work in.
At the Young Professionals in Real Estate (YPIRE) conference in Coogee, NSW this week, Josh Phegan told a packed room of bright-eyed youthful agents that this was the best market that any of them would ever sell real estate in.
“The market will only ever change if the consumer changes their perceptions, and that is not likely to happen in the current media environment,” he elaborated to Real Estate Business on the sidelines of the conference.
“From that point of view, you’ve got to learn how to deal with the current consumer before you’ll ever see the market shift.”
According to Mr Phegan, since the introduction of mass media through social media outlets, consumers have become more informed than ever before, creating new hurdles real estate agents need to overcome.
“With so much information, so much social media stuff and so much TV and news we’ve become paralysed,” he said.
“And what I mean by that is that as a society we watch so much TV, listen to so much radio, and read so many different newspapers and books that there is always a reason why we can’t do something.
“There are always issues happening in China, and if it is not China it is Japan, or America or Russia or Europe.
“Consumers have changed and adapted so much that they are so informed that I think they are actually paralysed to act.
“So our role as real estate agents is to really facilitate that process by asking better questions and helping them to move to those next steps, and to give them the courage to chase down their dreams about the things they want to do from a property perspective.”
Mr Phegan's comments come shortly after John McGrath, CEO at McGrath Estate Agents, told attendees at REAL 2012 in Brisbane that the time is ripe for agents and principals to grab market share.
“You’ve got to realise the market is fine,” he told the audience of around 350 industry professionals from across Australia and New Zealand.
“It [your success] has nothing to do with [Reserve Bank governor] Glenn Stevens.”
“This is not a tough market,” he continued. “Get rid of your excuses.”