According to the owners of Professionals Real Estate Armidale, buying real estate in Armidale has traditionally been attractive to both investors and residential buyers due to both the affordability of properties and the higher than average rental yields. Owner occupiers are attracted to the area by the fact that they are able to buy a property for a fraction of the cost that they would be able to in a city area. This is notwithstanding the fact that many properties in the local area are on bigger than average blocks and in some cases are situated on acres!
Investors have traditionally been attracted to the area due to the large numbers of people, such as University students, who choose to rent in the Armidale area. This continues to be the case with Ben and Kristy from Professionals Real Estate Armidale noting that some investors still choose to purchase properties off the plan without seeing the property. In addition, many other investors choose to buy property in Armidale as part of their self-managed superannuation portfolio.
Ben and Kristy note that in order to be successful in the real estate industry it is necessary to have a passion for property as without this it is unlikely you would succeed in the industry. Ben, Kristy and John certainly have this ‘passion’ for real estate, their family and the local community in abundance!
In terms of what the future of real estate will look like, Ben and Kristy from Professionals Real Estate Armidale suggested that the industry is becoming more digitalised. In fact, in city areas potential buyers and lessors are already booking via an online portal when wanting to view a property!
Even though transactions may occur in the digital domain in the future, there is still no doubt that to be a successful real estate agent it will still be necessary to maintain personal relationships with people within the community!
In our next posting, we will document the many ways that John, Ben and Kristy choose to maintain these personal relationships whilst benefitting the community as a whole!