In today’s real estate landscape, particularly in Sydney, agents are encountering a market that can best be described as stabilised or flat. This stagnation poses unique challenges for both sellers and buyers, requiring agents to adopt innovative strategies to maintain momentum and achieve success.
Join me in Episode 110 of Coaching on the Go as we dive into the challenges and opportunities presented, particularly in Sydney’s currently stabilised or flat market. I’ll share insights on what I call the “listing illusion”—a common trap where agents take on properties without a genuine need to sell.
Click to watch the video below to learn more.
In Episode 110, you’ll explore how to identify true opportunities that not only align with market conditions but are primed for success.
Watch the video now!
This is a critical time to assess whether you are signing up business where there is no genuine need or urgent problem to be solved by a sale. The danger here is potentially holding onto listings for an extended period—or worse, not selling them at all.
The Core of the Matter
The fundamental question you need to ask is: Are you working with clients who have a problem that selling a property will solve? If there’s no problem, the likelihood of making successful transactions in the coming weeks could be low.
It’s not enough just to list any property. It’s about being aware of the nature of your business engagements. Take a moment to review your current listings. If you cannot identify the specific problem each sale is meant to solve, it’s time to rethink your strategy.
Evaluating Your Listings
This flat market presents a perfect opportunity to connect with your clients on a deeper level. If you haven’t already, ask them about their initial motivations. What do they stand to gain by selling? If the benefits aren’t substantial or the market conditions aren’t in their favor, it might be bold, but advisable, to suggest they hold off selling until the market improves. This could mean holding onto their keys for another two to three years.
On the other hand, if keeping the listing doesn’t forecast a sale, you may be looking at what I call an LTL—long-term listing. Recognize this situation early to save effort and resources.
Action Steps
Conduct a thorough stocktake of your listings. Engage deeply with your clients to determine if there are any properties that could realistically meet the market’s demands or if you need to shift focus and attract clients who have a compelling need to sell. This approach will help you maintain consistency and productivity during this challenging market phase.
I hope this discussion sparks new ideas and strategies for your real estate practice as we navigate these stagnant times. Thank you for tuning in, and remember, staying proactive and informed is your best tool in any market condition. See you in the next episode of Coaching on the Go. Bye for now!
Summary:
In Episode 110 of “Coaching on the Go,” we delve into the complexities that real estate agents face in today’s particularly stagnant market, especially here in Sydney. The focus is on avoiding the ‘listing illusion’—a scenario where agents take on properties without a genuine selling motivation behind them. Throughout the episode, we stress the importance of identifying real client needs and ensuring that each property listed addresses a specific problem that its sale will resolve. We provide actionable advice on how to deepen client relationships, accurately gauge seller motivations, and make informed decisions about managing or possibly dropping listings. This guidance is aimed at helping agents stay productive and successful, even in challenging market conditions.
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Caroline Bolderston
With over 18 years of industry experience Caroline has a track record of personal high performance and exceptional results. Taking her passion for Real Estate sales and her genuine interest in sharing her expertise to develop others, she was the creator of the Belle Property Academy which has delivered many $1M agents and high performing sales teams.