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John McGrath has said that female agents are better than their male counterparts, having a better feel for the essentials of the business and producing “extraordinary” results.
“I would love to see a higher representation of women in the sales environment as great female agents are in general better than their male counterparts,” Mr McGrath, founder and executive director of McGrath Estate Agents, told REB.
“Real estate is about relationship, trust, integrity, empathy and organisation. The female agents I’ve had the pleasure of working with provide this with extraordinary results.”
He said that, too often, male agents have a tendency to be shorter term, with a focus on transactions over relationships.
Mr McGrath also predicted that the market will begin to become more buoyant in the new year.
“The light at the end of the tunnel will become visible during 2019,” Mr McGrath said.
“We are halfway through the correction in Sydney and Melbourne and should see a stabilisation at some point during the year. There may be a few per cent correction still to come in some areas, but in many areas that we work in, we’ve already seen a 15 per cent to 20 per cent price correction, and history tells us that’s more than we’ve had in the previous five market corrections.”
But he said that there will be casualties.
“As an industry, we will see a decline in agent numbers as many agents will struggle to stay afloat as the tight market continues,” Mr McGrath said.
“I’d expect a 10 per cent decline in agent numbers across the country.”
Mr McGrath said that the industry continues to need higher-quality advice and more transparency.
“This is what we hear all the time from consumers,” he added.
“So those agents geared up for this both ethically and organisationally will deliver and, in doing so, reap the rewards. Many parts of the industry continue to operate like the 1980s and this correction period will shake out those who don’t deliver the experience the market expects as well as the results.
“With 50 per cent of the population being female and there being such a great natural fit for real estate, I’d like to see the ranks of female agents grow rapidly to at least 50 per cent of the workforce.”
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