The real estate market globally saw a rise in both its commercial and residential sectors. This rise was surprising as most experts thought the lockdowns and pandemic restrictions would result in the market falling. But the reality was, several people began selling real estate at lesser prices, which encouraged an influx of buyers. The Australian real estate market saw an unprecedented rise in value to nearly 7.9 trillion AUD in the residential sector alone. This rise was especially evident in Australian suburbs that saw an increasing local interest in Northern beaches, Melbourne and Kandos real estate. With this increase in interest in real estate, the necessity of real estate agents, brokers, and agencies also saw a rise. There are several risks in investing in property or buying and selling real estate, which newcomers may not know, making them vulnerable. Additionally, with numerous factors affecting the market, common folk require the guidance of a real estate agent.
BUYING COMMERCIAL OR RESIDENTIAL PROPERTY
People who buy property tend to do so for personal use, and those who rent or lease it out are investors, not buyers. These buyers have specific requirements or expectations from the property or the building. A real estate agent can assist them in finding several properties that meet their expectations and suggest profitable areas to buy property. Property prices fluctuate across localities, and real estate agents have in-depth knowledge of a region and its history and background. These agents will help their clients make better buying decisions to get their money’s worth. Besides the region’s history and related data, real estate agencies also have numerous properties for sale on their system. Prospective property buyers can find the property they are looking for with just a visit to the agency instead of going from site to site.
SELLING COMMERCIAL OR RESIDENTIAL PROPERTY
Selling residential properties also has several risk factors that most first-time sellers may not comprehend. Selling a residential property might seem effortless, but commercial property selling has several government protocols that the seller must follow. Real estate agents know the various regulatory bodies and expected standards. These agencies help ensure that sellers meet them without much hassle. Although residential property selling has fewer regulatory protocols, sellers might end up selling their property for a lesser value than possible. Most sellers tend to get their property valued and fix an asking price higher than that. But real estate agents can help increase the property value by making a few changes, allowing sellers to make better profits off the deal.
INVESTING IN PROPERTY
Property investments are perhaps some of the most profitable asset investments that can return higher profits over time. Real estate investments are generally safer than other investments as their values don’t fluctuate too much, allowing people to regain their capital. But there are certain risks involved, which could lead to investors losing money on the deal. Real estate agents know quite a lot about property investments and how to do it right. They can help first-time and seasoned investors make better choices that will ensure profits from their investments. For example, portfolio diversity is a vital factor when investing in property as it minimises losses. Real estate agents can help people optimally diversify their portfolios, ensuring maximum gains.
The rising real estate market value reflects the increased interest in property buying, selling, and investing. People interested in real estate should hire agents, especially when considering suburban properties in Gold Coast, NSW or Kandos real estate.
The Australian real estate market saw the highest rise in market value since 2003 (11.8%). With the increased influx of property buyers, several entities will try to exploit them.