This week our first Feature Premier Agent John Paranchi from McGrath Hunters Hill shares his predictions on the Sydney property market for the next 12 months, three key sales strategies and some advice for agents starting out.
What trends can we expect to see in the Sydney property market in 2016?
Overall I think we will see steady growth across most parts of Sydney. Of course, some markets will perform better than others. The markets that I service, including Gladesville, Tennyson Point and Putney, will see reasonable growth over the next 12 months. The main reason for this is the relative lack of properties available compared to the demand combined with great amenities on offer, like waterfront parks, great schools, several major shopping centres nearby and easy access to Sydney’s CBD.
With an outstanding track record for exceptional results and speedy sales (in FY14 John sold 65 homes worth almost $90 million with an average of 31 days on the market) what three strategies do you find are key to maintaining this?
1. Positioning and presentation: You need to get an accurate assessment of the property as today's buyers are very savvy to what's under/over priced. It is crucial to get the price range right up front, then go from there to put the right strategy together and get the presentation of the property right.
2. Meticulous follow-ups: Call your hot buyers before the property listing goes live. It’s so important not to be lazy in following up with hot and old leads. Over the years we've all met hundreds of buyers to whom we promise to call if anything suitable comes along that meets their requirements. In real estate it is so important to make good of this promise with follow up calls. Through continuous follow ups you will gain homebuyers trust over time which will make it easier for you to negotiate with them in the future. Which also in turn means a better outcome for you and your vendor down the track.
3. Communication: Consistent communication with both buyers and vendors during the campaign is key. You should call your vendors daily and meet with them weekly to review progress. It’s also a good idea to talk to your contract holders consistently and try to meet with bidders before the auction.
With over 24 years experience as an agent, is there any advice you would pass on to a new agent?
Apart from working extremely hard and following up with every potential buyer, I would definitely recommend seeking out a mentor when you’re first starting out in the industry. Buddy up with a colleague, which does not necessarily mean someone from the same office, to help you through the process and help to find your feet.
What do you find most challenging about working in real estate? How do you and your team work together to overcome these challenges?
I think the toughest thing about working in real estate is the emotions, both on buyer and seller sides. For most people buying or selling a home is one of the most emotional transactions you'll ever make, so we need to relate to and empathise with our clients and be mindful of their emotions. The best way to go about this is through consistent and transparent communication throughout the selling process.
Why do you list with Homely and what do you like about the Premier Agent product?
The reasons I list with Homely is because it's clean, easy and fast to use. What I like about the Premier Agent product is that a potential client can really dissect the performance of any agent. They can easily see what an agent has sold up to three years back, and the map listings feature is a powerful way to showcase how active you are in your core area.
John Paranchi is a Sales Agent with McGrath Hunters Hill. Consistently ranked at the top of McGrath’s 650+ agent network, ranked as high as Number 6 in Real Estate Business Magazine’s ‘Top 100 Agents’ and awarded The Number 1 Sales Agent in the Australian Real Estate Awards. A Partner at McGrath Hunters Hill, John has an outstanding track record for exceptional sales results in any market conditions. With 24 years of local sales experience, John has lived in the Ryde/Gladesville area all his life and has an unbeatable knowledge of the local market. He has set suburb records in every one of his specialty areas of Gladesville, Putney, Tennyson Point and Ryde – a feat none of his competitors can match.
Homely is a new way to search for real estate for sale and properties to rent in Sydney and right across Australia. Homely incorporates beautiful design and community engagement, to create an enjoyable and simple experience that helps you find a new home quickly.
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