Kiwi lessons for worried Australian real estate agents
Australian real estate agents are facing a significant market downturn, with experts suggesting they look to New Zealand's recent experiences for guidance. Agents are being advised to manage seller expectations and avoid lowball offers to maintain market integrity.
Why it matters
The real estate sector is a major economic indicator, and the strategies used to navigate downturns have direct implications for property owners and the broader economy.
<p>New Zealand real estate salespeople may be able to offer pointers to their Australian counterparts, as they go through possibly their most significant market downturn in recent years.</p> <p><b>By Susan Edmunds of </b><a href="https://www.rnz.co.nz/news/personal-finance/1173515/nz-lessons-for-worried-australian-real-estate-agents" target="_blank"><b>RNZ</b></a><b></b></p> <p>Australian media have reported on the struggles of some salespeople, who have posted on social media about the downturn.</p> <p>One, Liam Cromarty, posted a video telling people not to lowball with their offers, because they could end up insulting the owners.</p> <p>"I had one buyer who offered more than $100,000 less than the bottom end of the range," he said in the Instagram video.</p> <p>"The buyer thought they've got all the power, the market is terrible and if the owner wants that price, they're going to have wait years for the market to turn around."</p> <p>He said the property ended up selling to a buyer who offered a higher price.</p> <p>"Then the buyer that was…
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