The past year has seen tough property markets across Australia—unpredictable movements and different changes—but the circumstances only brought out the best in some of the property professionals who are working hard to keep the industry afloat.
While there are definitely markets that have performed better than others, property investment in Australia has generally had a good run last 2017.
According to real estate editor Tim Neary, it has been a particularly good year for real estate agents in different Australian property markets, especially for those who have successfully lead the industry and consequently trained new agents to continue the prosperous business. Although it has been tough for real estate agents in struggling markets, there is a sense of resilience that shone through from the good ones who drive ahead regardless of market conditions.
The year 2017, which saw unpredictable markets and different changes in regulations, brought to light the best real estate agents from the vast sea of property investment professionals.
Tim said: “A lot of the very best agents … I won't say they welcome the downturn when it gets a bit tougher, but what they tell us is that when it gets a bit tougher, that's when they have to work hard. That's when they really hone their skills.”
“There's a real opportunity in tough markets … That's when they have to really put the stuff that they've learned into practice and really work for it … It makes them better real estate agents,” he added.
As an avid investor, Smart Property Investment’s Phil Tarrant have always believed in the value added by a good financial team and a reliable real estate agent is one of his “non-negotiables”. Many people often see agents as the enemy—money-hungry professionals who only want to sell an asset for the highest possible price—but seasoned property investors know that good agents always look after the interest of their clients.
The key to their success, at the end of the day, is good communication with property investors. As long as you maintain an open communication about your goals, capabilities, and limitations, the best agents will always work hard to find the most suitable asset for your portfolio.
Tim advised property investors: “[Real estate agents] are tough operators themselves, so if you're that investor that's looking to get that edge, you've got to be on your top game.”
“At the end of the day … the real estate agent is looking after the interests of the seller. They want the property to move. They will find a way to make it happen,” he added.
“Don't see a real estate agent as the enemy … See them as someone who can really support you to secure the property how you want it,” Phil concluded.
Tune in to The Smart Property Investment’s Show special "Top 10 articles of 2017" episode to know more about foreign investment, crowdfunding, the threat of the bursting bubble, and the many reasons why you should invest in property.