The past four years saw significant changes in the real estate market.

In 2007, the mortgage product landscape rapidly shifted, causing concern and challenges for both buyers and sellers.

The market transitioned from a seller's market to a more balanced one, where buyers had increased control. The days of agents setting prices at will were over, and achieving maximum value became more complex.

To succeed in this new environment, sellers needed to prioritise speed and efficiency. Having a knowledgeable and well-compensated estate agent was essential, as they could guide sellers through the intricacies of the market.

A reliable conveyancer was also crucial, ideally connected to the estate agent to streamline the process. The longer a sale dragged on, the less value the property represented, causing concerns for both buyers and sellers.

In response to these challenges, the discussion highlighted the importance of education for clients, transparent communication, and upfront information to speed up the property transaction process.

Proactive agents who guide clients through the selling process and create competition among potential buyers were recommended to achieve the best results.

The pricing strategy, aimed at attracting buyers seeking bargains, was also emphasised, ensuring properties would find their right market level.

Overall, the real estate industry needed to adapt to a more balanced market where efficiency and client education played a significant role in successful transactions.