Why big brand agencies are better in a buyers' market
Category RealADVICE
Real estate in SA is currently still very much a buyers' market, even though the inflation rate is trending downward and interest rates are set to follow in the new year.
This means, says Gerhard Kotzé, CEO of the RealNet property group, that there is still an excess of homes for sale and that sellers really need the support of established real estate brands in order to compete for buyers' attention and achieve the best possible prices.
"Established national brands such as RealNet offer several advantages over small, local agencies and discount operations, the first of which is the credibility associated with more widespread recognition. Buyers tend to trust well-known brands, and that by itself can attract more attention to a listed property and lead to a faster sale.
"The top real estate groups are usually also able to provide their property professionals with extensive training and give them access to the latest technologies and market intelligence, so that they can provide home sellers with valuable guidance when it comes to setting an asking price and navigating a challenging market."
In addition, he says, big brand agencies have a larger network of property professionals and potential buyers, and more resources generally. They often have access to advanced marketing tools, technologies and databases that smaller agencies don't have, and this broader reach can significantly increase the exposure of a seller's property to a larger pool of potential buyers.
"Also, established brands tend to invest heavily in marketing and advertising, using bigger budgets to create increased visibility for clients' properties, generate more inquiries and showings and once again increase the chances of a successful sale."
And speaking of viewings, Kotzé says, well-trained property professionals know how to use these to gain valuable market feedback for sellers while showing their home to maximum advantage. "On top of this, home sellers will find value in working with a property professional who not only has excellent negotiation skills and the ability to keep prospective buyers engaged, but also the backing of a reputable brand.
"The reason is that in this market, when buyers may well feel that they have many options open to them, they are much less likely to stall or just walk away from negotiations when dealing with a property professional from a known and respected group."
And finally, he says, larger real estate brands typically have established processes and automated systems for managing transactions efficiently. This significantly reduces the potential for complications or delays and ensures that sellers receive their proceeds timeously.
Author: RealNet
