Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Revealed: The biggest challenges for agents this year

By Tim Neary
16 February 2018 | 1 minute read
The biggest challenges for agents this year

New research has revealed the biggest challenges that real estate agents face in the climate of new technologies, slower markets and increased competition.

A survey of Sydney and Melbourne agents conducted by live-stream tech outfit Gavl has found that after securing a listing, the most common challenge for agents is satisfying the price expectations of vendors.

As many as 53 per cent of agents admitted that managing the price expectations of their clients was their biggest challenge for the year. A further 31 per cent said that the biggest challenge was achieving a sale price that meets vendors’ expectations.

Advertisement
Advertisement

Just 16 per cent of agents admitted that attracting an adequate number of interested buyers for a property was the most challenging part of the job.

Sydney agents are feeling the pressure to meet price expectations more than their Melbourne counterparts.

In Sydney, 45 per cent — against just 27 per cent in Melbourne — admitted that securing a sale price that meets vendor expectations is the hardest part of their job.

Newer agents found attracting an adequate number of potential buyers to be a challenge — 35 per cent with under 12 months’ experience against just 8 per cent with 20-plus years.

Gavl spokesperson Justin Nickerson said that the survey results match his own experience. 

“Vendors in the second half of last year expected properties to grow as fast as in the previous five years,” Mr Nickerson said.

“This year, agents will be tasked with convincing vendors that growth has slowed, but also ensuring they get the best price in the current market.”

Mr Nickerson added that the challenges are linked to marketing.

“Properties will need a multi-tiered strategy that can be measured and bring in results, and unfortunately, many agents lack the skills or technologies to ensure success in this area.”

Revealed: The biggest challenges for agents this year
team reb
lawyersweekly logo
Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.