The first few months of 2014 have proven lucrative for the real estate market. Although most trend speculators advise buyers to rest easy on low interest rates, Queensland maintains to be the top area in property sales.
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Brush up your skills if you’re an agent with a lot of possible buyers to target. Make sure to maintain your properties at their best form for saleability.
Real estate buyers live and breathe networking. This takes up to 80 per cent of their selling time. Choosing a home takes a bit longer to decide on. This is why client profiles need updating to ensure a constant flow of sales. Here are more tips for you to build your buyer’s network:
Tip 1: Set your selling goals
If your objective is to reach at least $50,000 of income per year, you can group your target sales per quarter, month and week. Say your average commission on every sold unit falls within the 2 to 4 per cent range. This means you should reap about $4,000 per month. You can then shuffle different properties to sell every time.
Tip 2: Build and refresh your contacts
It’ll be a challenge to sell properties every month. Not all buyers are convinced to buy a house and lot within a few weeks of meeting. This is where you can set your sights on building your buyer database.
Be creative in finding your clients: in wedding expos (since couples will live together and hence purchase property) or geriatric hospitals (if you also represent homes with aged care). Have a set of standards in choosing your prospective customers. This way, you won’t waste your money and efforts in talking to the wrong person for a sale.
Tip 3: Organise your leads
For agents with minimal capital, cold calling or making phone calls to establish contact is a good start. If you don’t have a brochure just yet, invest in high quality calling cards. Get as many contacts as you can and categorise them based on their preferred means of introduction (email, phone call or an actual meet up).
Tip 4: Keep the 4% Rule handy
You know you’ve built a valuable set of leads with a confirmed buyer’s appointment. The 4% Rule simply means not all individuals you talk to will be interested to know more about your offerings or purchase a property.
If you’re planning to sell four properties per month, this sale is 4% of all the contacts you’ve spoken with. This means you’ll need to speak with about 100 contacts to get these four valuable people per month. You’ll then need to constantly search for clients while not leaving the previous leads behind. You’ll never know of when they’ll decide on a purchase in the coming years. Always update the profile of your prospects to also stay relevant in their eyes. You can easily schedule selling pitches.
Excellent vicinities are a must. Match your top buyers’ needs with the properties you handle.
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Tip 5: Set your eyes on tropical Cairns
Most homeowners would dream of waking up to the sight of a tropical paradise. Cairns is the gateway to the Great Barrier Reef where you’ll see various oceanic species. Having homes by the shore encourages a healthier state of life for homeowners.
Tip 6: Check out suburban Ipswich
Ipswich has a rich cultural heritage, making it a viable area for homeowners setting up their abodes with the prospect of having a big family. Located in Queensland’s innermost suburbs, the area offers a number of nearby health and educational centres.
Suburban home owners will find it easier to reach the CBD in a few minutes, while also avoiding the stressful hustle and bustle of the city when it’s time to relax. Shops and retail outlets are nearby for them to conveniently stack up on supplies.
Tip 7: Wisely consider Brisbane’s Central Business District (CBD)
Brisbane’s CBD is the optimal territory for buyers out to reach the prime of their careers. This area is known to be the third most populous in Australia. While this location’s market value will stay up for several more years, it’ll be a challenge to rake in a sale while ensuring the comfort of your homeowners.
Real estate can be even tougher in Brisbane and this is where an extensive network comes in handy. Establish your connections with associations to get the freshest updates as you get yourself known as the buyer’s top choice.
Tip 8: Property fixtures sweeten the deal
Aside from offering the most lucrative site available, you’ll most likely meet your buyers’ needs with solid fixtures. Set up a choice of amenities for your possible investors. There are buyers who simply want non-frills or the bare essentials, while some won’t hesitate to spend their savings on the finer things in life.
The appraisal value increases with unique features in the home. These would depend on the vicinities around – libraries are suitable for suburban homes with growing families, while an overlooking patio is apt along a tropical location.
It’s selling high time in Australian real estate. Take advantage of the mentioned selling tips and lucrative vicinities. Excellent selling skills and industry essentials are your top priorities to make your roster of properties even more marketable to prospective home owners.
About the Author: Barbara Verner is a business and finance freelance writer residing in Adelaide, Australia, and writing on behalf of Bluewater - an integrated master plan community designed to be walkable, liveable and sustainable. If you're looking to make the Northern Beaches in Cairns your new home, there's no better choice than Bluewater. Follow @BluewaterBRP on Twitter.