By Dave Rawlingson and Janette Brennan
When was the last time you purchased a property?
If your answer to the above questions is more than 15 years ago, you'll notice a lot of changes for all parties involved!
From a buyers perspective
In the old days you would have contacted an agent, most probably recommended from a family member or friend, and you would have worked with them looking at properties. Each week you would have to look through the local paper to see what is for sale (remember internet was not available back then!), also driving around looking for sale signs and attending home opens.
If you did find a property that you wanted to place an offer on and the seller lived out of town, everything had to be sent via snail mail! Offers could take weeks to finalize, unlike the ease of today, where offers are able to be emailing backwards and forwards throughout the negotiation period. Isn’t it great now knowing that you could secure your new property within hours!
From the Sales Reps perspective
If only it was as easy as clicking onto realestate.com.au to find what was currently available for the buyers we are working with. In the “old days” all of Geraldton's sales reps used to meet up on a Monday morning to discuss the week’s sales and new listing. Every office kept what was called the "Multi List" book, which would include all the other agencies listings.
Sales reps used to also keep their own list of available properties which they would obtain by driving around and looking for sale signs, spending hours looking through the local newspaper and keeping in weekly contact with other sales reps.
Also sales reps used to drive up a buyer from their home and drive around all day looking at houses, ending up totally exhausted.
What is one thing you'll notice from the above???
Buyers used to be loyal and work closely with "their" agent. Sales reps used to have strong relationships with other sales reps.
Yes relationships are still formed in the present day, but definitely not as often as they used too.
Buyers have a lot more access to information that was only available previously to a sales rep, plus finding property is only a click away.
Sales reps also have access to the same information as buyers and then some, the good thing is, everything seems to happen a lot quicker these days.
And no we haven't forgotten about you, the Seller.
The major changes that affect you from a sellers perspective would be, the time that it now takes to complete an offer, you also need to be very cognisant of the opportunities available to be a part of the marketing for your property plus the limitless additional marketing methods available and lastly, the laws introduced regarding mandatory RCD’s and smoke alarm installations.
In the end, relationships are still the absolute key in real estate. Let’s face it, if you are selling, you are going to be talking with your sales rep regularly, you may as well get along with them. The same applies for the buyer, if you are loyal to a sales rep, they will be sure to repay your loyalty tenfold.
Happy House Hunting
Over and Out
David and Janette are "Team Brennan" at Ray White Geraldton. Learn more here.