Raising the Bar
October 12 2022
As we head into the final quarter of the year, the market is still trying to find a new level of equilibrium following the pandemic boom of 2020-2021.
The constantly changing real estate landscape can be tricky for vendors to negotiate, which is why choosing the right agent is important for achieving the best outcome for your property.
Our role as agents goes far beyond being a broker. We are relied upon to be strategic advisors and clients look to us to provide advice and positive outcomes for their assets, no matter what the economic climate.
Unfortunately, many agents walk into a listing presentation and promise a client an unrealistic price, with no experience or proven strategy around how they are going to deliver it. Their lack of experience ultimately means owners lose.
This is why I continue to champion the Real Estate Institute of Queensland (REIQ) and the Office of Fair Trading to help to raise the bar for entry into the property industry.
The industry needs to be producing better-qualified individuals, who understand process, risk mitigation, price maximising strategies, and how to execute sales properly.
Anyone can gain a sales licence within about five days and then be out advising property owners or buyers, with little supervision.
In my view, licence courses should be a minimum of 12 months of study, completed through the REIQ, a TAFE, or university, followed by a further 6-12 months of gaining practical experience in a sales associate role under an already licensed agent.
At Kollosche, agents are exposed to continuous in-house training and professional development using leading industry trainers who focus on process, compliance, and execution.
We also structure our teams so that newer agents learn alongside more senior agents in a collaborative environment. The team also attends annual industry conferences to widen their skill sets, enabling them to process listings and sales with transparency and integrity.
This experience and knowledge have allowed our agents to instil confidence and achieve outstanding results for prestige sellers in a market where interest rate hikes and rising stock levels have led to a more discerning buyer.
New Benchmark for Burleigh
Troy had 110 groups inspect the property during an effective four-week marketing campaign. On auction day, 12 groups registered to bid and about 100 people gathered to watch the action.
The winning bid was placed by a woman from Tallebudgera, who bought the property for her son and his fiancée. The sale surpassed the previous price record by almost $4,500,000, setting an extraordinary benchmark for the suburb and highlighting what can be achieved by an experienced agent despite external market conditions.
Myself, along with Sales Associate Jay Helprin, sold the Mediterranean-style waterfront mansion at 26 Midshipman Court, Paradise Waters, for $4,300,000 before auction. It was the first time the property had come to market in 25 years and had only been listed for four days before the successful offer was made.
Kollosche Sales Agent Kara Christiansen sold an acreage property at 36 Waltham Court in Bonogin for $2,050,000. The secluded 7.5-acre rainforest block with a French Provincial home was bought by a Gold Coast couple seeking a weekend lifestyle property for extended family.
A new contemporary home in prestigious Mermaid Beach was sold under the hammer for $4,400,000 through myself, Sales Agent Eoghan Murphy, and Inside Assistant James Roberts. The auction drew a large crowd with Mermaid Beach continuing to be one of the most sought after suburbs on the Coast. Its median price sits at $2,400,000, according to CoreLogic.
Former timeshare building ‘The Voyager Resort’ sold for $45,001,680 to a private investor after what was a four-year journey to market for some 3,000 timeshare holders.
They followed this up with a $4,470,000 deal for the boutique apartment block ‘El Dorado’, which involved the amalgamation of six units on a corner block at 173-175 Surf Parade.
The sales signal a major vote of confidence in the central Gold Coast suburb which, despite the challenges in the construction market, has become an epicentre for luxury new-build developments.
Kollosche as a business continues to grow, with our Prestige Property Magazine moving into its third year of publication. To mark the milestone, in this 25th edition, we take a walk down memory lane and look back at some of the most prestigious Gold Coast properties to have graced our magazine cover since the first edition was printed in October 2020.
If you are thinking of selling in the coming months, reach out to our trusted agents for an informed discussion about how we can help you to achieve your property goals.