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Harris Real Estate property consultant and South Australia’s top five agent, Arabella Hooper, is not fazed by market performance because her “stringent” business plan propels her forward, she said.
Ms Hooper has placed fourth in the REB Top 50 Agents South Australia 2023 ranking, and risen from 29th to 20th position in the Top 50 Women in Real Estate 2023 ranking.
She sold 114 properties in the Inner Hills area of South Australia for a total of $144.8 million during the 2022 calendar year, compared to 113 properties for $136.5 million in 2021.
Ms Hooper has credited this to implementing “stringent” business plans three to four years in advance so that her agency remains on track regardless of how the property market is faring.
“I think planning is underrated in this industry but it’s one of the most critical parts of what we do,” she underscored to REB.
“Notwithstanding the healthy property market which has contributed to our figures, implementing a structured and disciplined business model has contributed significantly to mine and my team’s success.”
Ms Hooper and her team not only set sales figure goals three years in advance, they also itemise every process in the business.
“We have implemented a structured process for every step, including how we conduct open inspections, make phone calls, manage our vendor and appraisal meetings, and how we put up our sold stickers,” she said.
This has been particularly fruitful in the current market where there is a “genuine” lack of stock, Ms Hooper said, while tighter lending criteria and borrower serviceability have complicated finance deals.
Despite these hurdles, buyer demand has buoyed the market, Ms Hooper said.
She added that her business model and strong brand recognition have helped her cope with low supply, with clients still approaching her for advice.
“There’s some fee compression occurring as agents don’t have enough houses to sell, so they’re trying to offer their services at a lower cost,” she said.
“But that’s not how we operate. We’re maintaining our fee structure, which is great. We’re capitalising on every opportunity as they present, and making sure that we’re really working open homes.
“A lot of our buyers become vendors. We want to make sure we don’t lose that business.”
In addition, Ms Hooper said, structuring her team based on their strengths and weaknesses has been beneficial.
“This allows us to capitalise on individual strengths while building on weaknesses to strengthen them so that they’re less of an inhibitor to our business,” she said.
She encourages her team to receive training from external trainers who visit Harris Real Estate and by attending the annual AREC real estate conference.
Ms Hooper has sold lifestyle residential houses in Adelaide Hills, along with acreage and equestrian properties, and vineyards.
With buyers prioritising space and seclusion since COVID-19, the Adelaide Hills offered large blocks and houses with gardens around 30 minutes from the CBD, she said.
Ms Hooper sold houses through auctions and best offer buyers in 2022, but observed that the agency has slightly diverted away from the former to the latter this year as monetary policies have tightened.
“We’ve found that it’s been a more successful way of making sure that we secure as many offers as we can for our vendors,” she said.
Three-quarters of her sales originate from referrals and repeat business, Ms Hooper said, adding that “vendors and buyers remember us because of our service”.
“After a transaction, we follow up with phone calls to make sure they are happy. We refer tradies, cleaners and even babysitters to help them settle into our community. I think that resonates with people.”
As for how new agents could succeed in a low stock environment, Ms Hooper suggested identifying their strengths and targeting particular types of properties and clients.
“Find people in your areas of strength instead of trying to do everything in a panic and not have any of it work,” she remarked.
Joining a team will help them build knowledge, skills and confidence, as well as a strong database of clients, she concluded.
Click here to view the REB Top 50 Agents SA, and Top 50 Women in Real Estate 2023 rankings.
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