PROPERTY NEWS - Contrary to what many might believe, not all real estate transactions begin with an inquiry on a property portal. Especially during challenging real estate markets where buyers are scarce, the professional services provided by a real estate agent are crucial to attracting the right kind of buyer for your home.
"Particularly within this kind of market, buyers might not be looking to move within this economy. But, based on their professional relationship with their real estate agent, they might hear about a new property that entices them to make the move," explains Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa.
As evidence to support this, RE/MAX Premier in Cape Town tracked their buyer sources for their last 100 sales and discovered that while 50% of their buyers had indeed come from property portals and website advertising, the other 50% came from the professional services provided by their real estate agents.
"Property portals made up 80% of our sales in 2018. This has dropped by 30% in 2019, which points to how challenging the market is at the moment. This is where real estate agents become a vital sales driver. Unlike property portals, which passively allow buyers to browse through their options, real estate agents actively match clients to properties and makes sales happen," explains Kevin Jacobs, broker/owner of RE/MAX Premier.
He explains that show houses are a vital marketing strategy, accounting for 26% of all buyer leads for their last 100 sales.
"Interestingly, of the 50% of buyers who come from property portals, most end up at the show house after making the inquiry on the website. If you are working with an estate agent that does not believe in the value of show houses, then you might be missing out on a huge potential market," he says.
Beyond this, Jacobs points out that 19% of buyers come directly from the real estate agent's own database of buyers and sellers.
"Real estate agents leverage their professional relationships developed with property investors and buyers over the years to match their clients to their dream home," he clarifies.
The last 5% of RE/MAX Premier's sales came from referrals from other RE/MAX offices and agents across the country. This reveals the benefit of working with the largest brand in real estate.
"With over 2 400 agents operating from 160 offices across the region, RE/MAX has the largest reach within Southern Africa, outnumbering our closest competitor by nearly 1 000 agents. If you want to make sure you have the unfair advantage when selling your home, then your best chance is to partner with a RE/MAX agent," Goslett concludes.
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