In a hot market, finding a buyer for just about any piece of real estate is considerably easier than in a comparatively slower market. Knowing this, some sellers are inclined to list with agents known to them by association rather than choosing local practitioners. Caution is advised when taking this option.
Most agents, local or not, will promote their property listings via the well-known portals and by targeting the largest of the buyer groups; the active “unknown” buyer, via this method will probably find a buyer in this market. The other major buyer groups can be described as the “active known buyer”, those the agent have on a data base and the “latent buyer”, those buyers not actively looking but may be tempted to buy after seeing a particular property advertised.
It’s these remaining buyer groups that sellers miss out on when listing with out-of-town agents. Latent buyers are often attracted by large colour press adverts where only local agents advertise (such as those found in the Herald), whilst known buyers respond best to direct contact from local agents where they’ve registered their buying requirements; something missing from non-local agents’ data bases.
Bear in mind most buyers are local folk moving about within their immediate neighbourhood. Local Fremantle agents report that 68% of their buyers come from within the localities of Cockburn, Melville
and Fremantle and East Fremantle.
Given that the majority of buyers are locals then it makes sense to target property marketing locally and thankfully, the nature of the world-wide-web captures everyone else. It follows that sellers benefit from gaining access to a local agents’ network of would-be buyers and data base of active known buyers.
There are, therefore, tangible benefits in using the services of a local agent when selling property. Every area has a uniqueness punctuated with subtle nuances that an out-of-town agent can easily miss, and buyers are usually more comfortable relying on the expertise of the local agent. Local agents are familiar community faces most of whom enjoy a positive reputation that, in turn, boosts a buyer’s confidence in the accuracy of the information the agent provides.
In the new year, if you are thinking of selling in the Greater Fremantle area, it is in your best interests to choose an agent that is inherently and thoroughly local.
The National Hotel and St. Patrick’s Community Support Centre hold their annual long table dinner event each November to raise much-need funds to assist those without a place to call home. This year’s was a cracker and a shout-out to Karl and Janine Bullers for their inspiration. You see evidence … Read more
The media and government have thrown about the phrase ‘housing crisis’ in recent times to highlight the challenges of Australia’s housing market. The overuse of a slogan can reduce the seriousness of the challenge of housing affordability. Last week, the federal government finally got legislation through the parliament designed to … Read more