‘Show developers value,’ says agent

‘Show developers value,’ says agent

27 November 2015 by Liz Shaw 0 comments

A Sydney agent who is selling nine properties in one line has highlighted the professionalism he is expected to bring for his latest listing.

Colliers International agent Josh Crealy, who has been given the listing for nine Mascot properties, said developers expect a higher level of professionalism than typical residential buyers.

Mr Crealy told REB that because developers look at a property purchase as a business transaction, agents need to “show them value and how they’re going to get the best return”.

He stressed that when agents are dealing with developers, they’ve got to know exactly what they’re talking about and show a history in dealing with councils.

“You have to be a professional in your field, and dealing with councils is very important – so if you’re up to date and you know your market inside out, that’s what appeals to developers.”

Mr Crealy said the key is to know future council plans when other people don’t, what will and won’t be allowed, and what mixed-use opportunities there are.

“That way not only do [developers] have the insight, but they can do further due diligence as well,” he said.

The nine properties cover an area of about 3,400-square metres and are zoned for high-rise, mixed-use development.

Mr Crealy said the properties have attracted substantial interest from developers and would fetch upwards of $10 million.

When developers are looking at properties before they do their due diligence, they want to know that the agent has done theirs too, according to Mr Crealy.

“Developers want to know that the seller is very serious, because when they're doing their due diligence they don’t want to waste their time on someone who is half considering it,” he said.

Expressions of interest close today.

[Related: Agent scores after cold-calling rich developer]

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