Following a red-hot streak where many homes were selling sight unseen, Perth’s property market is shifting – and that’s placing a fresh spotlight on the power of agent expertise.
Part of Perth end-to-end property specialist firm Effective Property Solutions, Effective Residential’s award-winning agents Ollie Salimi and Sarah Hart are encouraging buyers to do their due diligence before appointing a property sales agent in the current climate.
For the past five years or so, Perth homes have pretty much sold themselves. In many cases, they were literally selling sight unseen, but the market has shifted in recent weeks
– says Mr Salimi
“Home listings have now hit a three-year high and some buyers are feeling a little more hesitant, especially now that they are faced with more choice.”
REIWA statistics reveal that, in the week ending August 30, there were more than 7,300 homes listed for sale in Perth, up from 2,981 at the same time last year.
Buyers are most definitely still in the market but, with more stock to choose from, sellers need stronger positioning and marketing, and honed negotiation skills on their side – as well as a more proactive strategy – to stand out
– explains Ms Hart
“The past few weeks have shown our team that there are still very serious buyers in the market who are willing to pay above asking price.“
“For sellers, the message is to ensure they partner with an agent who has experience navigating a market like this, not only a red-hot boom, to help them achieve the best result.”
Effective Residential’s Top 6 Tips for Sellers
- Select an agency with a deep database
In a market punctuated by fewer people through home opens, fewer offers and a need for more strategic and direct marketing, agencies with vast networks and a ready-made database of interested buyers are better placed to deliver a swift sale. - Ensure your agent has first-class negotiating skills
Having come out of a period where many motivated buyers were outbidding each other and pushing sale prices up, with less buyer competition and more price-sensitive purchasers, agents will now be playing a more central role in negotiating prices up to meet seller expectations. - Look for a proactive agent
In boom times, buyers will come to the agent. In a changing market, agents need to have a far more proactive approach and be confident in using more traditional sales tools, as well as digital tools. - Ask to see their sales strategy
A sales strategy that can transcend a booming market is a must, so don’t be afraid to ask to see it and find out how your agent will move forward if your home doesn’t sell within the first few weeks. - Prioritise honesty
Selling a home is a two-way street, so seeking an agent who will give you honest feedback, such as how to best present your home and the evidence for their recommended listing price, is essential, especially in a shifting market. - Ask the difficult questions early
Don’t shy away from asking difficult questions to agents you’re considering listing with. It’s critical to find out how they will handle challenges that may arise, like a protracted sales process or a lack of buyer interest, before you sign.
