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An experienced agent comes into their own in a volatile property market as they can use their skill sets to negotiate strong prices for vendors, according to a Sydney-based agent.
Two decades of experience in the real estate industry has served Sydney-based agent Alexandra Stamatiou-Buda well, who has secured a place in the REB Top 50 NSW, Top 100 and Top 50 Women in Real Estate 2023 rankings.
Ms Stamatiou-Buda – who is a partner and sales agent at McGrath Estate Agents and services Dulwich Hill, Earlwood, Hurlstone Park and Marrickville – sold 95 properties for $163.7 million in the 2022 calendar year.
She credited her success to being surrounded by a supportive team and the experience she has accumulated over her years in the industry.
“I feel that as the market conditions change and the climate becomes uncertain, your experience and skill set enable you to negotiate solid results for your clients,” she told REB.
“Anyone in a strong market can put up a sign board. But it’s in a moving market that experienced agents with skill sets stand out.”
Identify what’s in your control
While acknowledging that she has no control over rising interest rates and cost of living or mortgage repayments, Ms Stamatiou-Buda said she can control how well she communicates with her clients.
“We control the information that we give to our sellers and buyers. Clients need to be aware of market conditions and how it could affect them, especially when there is a decline. They need to be prepared for that,” she said.
“If you get a better result for them regardless of this, then that’s outstanding.
“I feel that we need to continue to be honest and direct with our buyers and sellers in terms of the information we provide. We may not be able to control interest rates, but we can control how we react to that, how we behave around clients, and make sure we deliver information.”
Ms Stamatiou-Buda said she sold the majority of her properties via auctions in 2022, which included family homes priced between $2 million and $3.4 million, along with townhouses and apartments.
She noted that buyers demanded turnkey properties because they were not willing to risk purchasing properties that were not renovated amid rising building costs.
“Properties that were ready for buyers to purchase performed well because the buyer did not have to second guess how much it’s going to cost to renovate the kitchen or bathroom,” Ms Stamatiou-Buda said.
How to clinch referrals
Over half of Ms Stamatiou-Buda’s business originated from repeat business from past buyers and sellers, she shared.
“We’re thrilled with this because it shows that we treated our buyers with respect during the negotiation process and auctions, which led them to call us when they wanted to sell their property,” she said.
The secret to attracting repeat and referral business is for agents to remain authentic and genuinely care about their clients, Ms Stamatiou-Buda added.
“Sometimes people who sell with us remember us from a decade ago. They might have been trying to buy but it may not have gone through,” she said.
“I feel it’s because of that combination of respect, honesty, and following through [on your promises].”
When asked how other agents could replicate her success, Ms Stamatiou-Buda urged them to respect other agents and build a positive reputation in the industry.
“This could take a while,” she stressed.
“People may forget what they paid but they’ll remember the way you treated them. Treat people the way you want to be treated. Make them feel special, without a hidden agenda.”
Observing that the real estate industry continues to be male dominated, Ms Stamatiou-Buda concluded by calling on members of the industry to “treat everyone like equals”.
Click here to view the REB Top 50 Agents NSW, Top 100, and Top 50 Women in Real Estate 2023 rankings.
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