The Real Estate Market 2024 and 5 Reasons You Need RESO

June 10, 2024



Agents: The Market is Changing Again! Here are 5 Reasons You Need RESO

When it comes to the property market, 2023 was interesting, to say the least. Despite lockdowns and job losses, the Australian housing market boomed across the country. Prices in Sydney increased 25.5%, Melbourne 14.9%, Adelaide 24.8%, Perth 11.2% and Brisbane prices increased a whopping 29.2%.

With the new year upon us, the real estate market 2024 is starting to show signs of easing, but it’s not expected to see dramatic change. Values are predicted to continue to rise and agents across the board need to embrace new techniques to help them achieve success in a busier-than-ever market.

What to expect in 2024

Here’s what we can expect in the property market in 2024 based on two key factors – interest rates and property demand: Interest Rates: Although there are rumours that interest rates will increase this year, the Reserve Bank of Australia isn’t so certain (and they make the rules, after all). According to RBA governor Philip Lowe, if the economy continues to outperform expectations, rates could increase. However, it’s believed this will more likely be in 2024-2025, rather than this year. As such, the low interest rates are expected to continue to attract buyers, though numbers might fall off later in the year as people become more cautious of potential increases. Property Demand vs Affordability: While there is plenty of property around at the moment as sellers’ cash in on the market, it’s the demand that drives prices. Although 2023 saw massive increases in demand, it also resulted in affordability becoming a major cause for concern. For the real estate market 2024, buying a home is simply not plausible for many people as prices are simply too high. Take the Sunshine Coast, for example. In 2023, the median house price at Sunshine Beach increased 47.6% and Minyama increased 54.4% – just to name two. If prices continue to increase, we may find demand starts to decrease due to affordability constraints.

5 reasons you need RESO

Given the volatility of the market, RESO can provide agents with stability that not only helps you market properties, but also gets them over the line with higher sales prices. So, what is RESO and how can it help you? RESO is an online property management tool that’s designed for the modern real estate market, offering a simple and convenient way for people to buy, sell and market properties. Here are 5 ways RESO can help you:

1. Increases productivity

Selling a home is all about getting the highest price, but when you’re dealing with numerous offers all on the table at one time, you need to be able to handle them as efficiently as possible. RESO provides an easy to use system that allows you to deal with a large number of potential buyers, without the paperwork.

2. Access to more buyers

RESO gives you access to more buyers from around Australia and the world. For example, one home in Queensland received over 180 offers from 90 RESO registered bidders. The fastest offer came in just one minute after the property was advertised, and the maximum offer was over $100,000 above the asking price.

3. A competitive edge

RESO offers agents a competitive edge by giving sellers and buyers full disclosure and real time access to the entire process. By using RESO, sellers and potential buyers can have full access to all documentation directly with the online management system. They can access contracts, building and pest reports, council forms, and anything else related to the property. And you don’t have to spend hours sifting through documentation to provide it.

4. Increased client referrals

Want more clients? Agents who have been using RESO have actually reported that they are getting more referrals from people who have sold through the RESO system than they have previously had through old-school property sales. Word of mouth is a powerful thing.

5. Efficient communication and less admin

RESO ensures your clients are always up to date, which in turn gives them confidence in the sales and purchasing process. Buyers and sellers will receive fast SMS and email notifications throughout the process without needing to chase you (the agent) down. This creates less admin work and ultimately gives you more time to do what you do best – SELL.

Make the most of the real estate market – 2024 and beyond. Get in touch with the team at RESO today.


Rachel Coulter

Thank you and untill next time!

Smart offer management

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