NZ lessons for worried Australian real estate agents
While property prices tumble across the Tasman, agents on this side of the ditch have been there, done that.
New Zealand real estate agents might have advice for their Australian counterparts as they navigate one of the most significant market downturns in recent years. The Australian media have highlighted the challenges faced by salespeople who have shared their struggles on social media. One agent, Liam Cromarty, posted a video warning against lowballing offers, as it could offend the property owners.
He recounted a case where a buyer attempted to offer $100,000 less than the minimum, believing they had the upper hand due to the market's poor state. The property eventually sold to a buyer who submitted a higher offer.
Australian property prices dropped by 0.7% in July and 1.9% over the quarter, marking a more substantial decline than New Zealand's. Auckland real estate agent Diego Traglia shared his experience operating in a downturn since 2022. He noted a sharp decline in auction success rates and open home attendance, with experienced agents forced to adapt quickly.
Traglia emphasized the importance of discipline and daily training to navigate challenging markets, stating that such conditions reveal the difference between average agents and those with the necessary skills and systems to succeed.
Written by urgent.news from RNZ Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
