Agents need to diversify

03 Jul 2013| Posted by: Geoff Baldwin

The state government's decision in its latest budget, to reduce the First Home Owner Grant on established homes to $3,000 but to increase it to $10,000 for new homes has highlighted the need for agents to seek out opportunities to diversify, according to RE/MAX WA Managing Director, Geoff Baldwin. “For many years now we have sought out new homes and apartment stock in addition to our conventional established property sales and this has ensured that challenges such as this latest one have been much less of an issue”, he said. “Agents need to take time to nurture relationships with builders and developers and to hone the skills required to market and sell this product. “Selling newly established or particularly, “off the plan” requires a different knowledge and expertise but more agents could certainly develop these skill sets and with the3 result that their businesses would be more secure and profitable. “Patience is also another critical attribute when selling new product especially since a property development can take years from concept to settlement but the rewards can be well worth the wait. “Another benefit of course is that when selling new homes an agent can often pick up the buyers original listing as many people need to sell their current home to buy the new one. “Real estate today is a fast changing and challenging industry and the best agents are seeking out ways to ensure they can continue to prosper regardless of the environment”, Baldwin said.