Sydney agents challenged to lift their game in 2016

Sydney agents challenged to lift their game in 2016

Competition
by 0 comments

Unlike this time last year, Sydney agents can no longer rely on a booming market to close a deal, a franchise boss has argued.

Laing & Simmons managing director Leanne Pilkington said the market has substantially changed in 12 months, with the balance of power between buyers and sellers now more even. As a result, the true value of an agent will be tested in 2016.

Ms Pilkington said agents would face increased competition for listings and would have to prove their ability to execute the right strategy and negotiate the best deal.

“In 2016 agents will need to call on distinct local market experience and knowledge to set themselves apart,” she said.

“Mass-produced campaigns are no longer cutting it, with the advent of new technology, social media and online reviews highlighting the need for agents to provide a great customer experience every single time.”

Ms Pilkington said this market slowdown should be regarded as a positive because it has reduced the risk of a major correction.

Another positive is that it should make life easier for Sydney first home buyers, according to Ms Pilkington.

“In 2016, conditions may at long last swing in favour of this long-forgotten section of the market,” she said.

“New supply is up, investor lending is down and the price heat of 2015 has subsided. The market cycle has potentially turned to support those looking to get into the market.”

[Related: Laing & Simmons embraces virtual reality]

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How this agent's commitment to clientele built him a 25k-strong client base

In this episode of Secrets of the Top 100 Agents, host Tim Nearly talks to RT Edgar’s Glen Coutinho who ranked number six in this year’...

View all podcasts

How difficult is it to maintain a good work/ life balance?

Very – if I’m having balance my competitors are working
Not – I schedule the time into my calendar in advance
A little – It’s scheduled, but something always crops up
Work/ life balance – what’s that?
Do you have an industry update?