Are You Still Curious About Your Own Market?

One of the great advantages of experience in real estate is knowing your market.

After years of selling in the same area, you know the streets, you know which pockets buyers prefer, and you know the properties that attract competition and the ones that can be harder to sell.

You’ve watched markets rise, fall and move sideways. You've met thousands of buyers and sellers and probably walked through more properties than you could ever remember.

That experience is incredibly valuable, but there's a question worth asking every now and then: Are you still curious about your market, or have you started assuming you already know it?

Because markets don't stand still, and neither do the people in them.

Experience can create assumptions

When you're new to real estate, almost everything is a question.

• Why did that property sell so quickly?

• Why did buyers respond to that campaign?

• Why did one home attract five offers while another, seemingly similar property struggled?

• What are buyers asking for?

• Why are people moving into this area?

• Where are they coming from?

You ask because you don't know. Over time, experience starts providing the answers. You recognise patterns and develop an instinct for what is happening.

That's one of the benefits of doing this job for a long time, but there's also a risk. We can stop asking the questions.

Instead of wondering why something happened, we assume we already know, and that's when experience can quietly turn into complacency.

Your market may be changing underneath you

We often talk about "the market" as though it's one thing. It isn't. Even within a single suburb, buyer behaviour can change significantly over time.

The young couples who once dominated inspections might now be competing with downsizers.

A suburb that was traditionally considered too far from the city might suddenly become more attractive because people are working differently.

Renovated homes may command a greater premium because buyers have less appetite for taking on a project.

A particular school catchment, transport connection, shopping precinct or lifestyle feature might suddenly matter far more than it did five years ago.

The change doesn't always announce itself. Often, it starts with small signals, and you only notice those signals if you're paying attention.

Open homes are full of information

An open home isn't simply an opportunity to meet potential buyers. It's a room full of market research.

• What are people talking about?

• What do they notice first?

• What don't they like?

• What are they comparing the property with?

• What compromises are they prepared to make?

• What is stopping them from making an offer?

We collect plenty of buyer feedback in real estate, but there is a difference between recording feedback and being genuinely curious about it.

If three buyers say the same thing, is there a pattern? If a property attracts a completely different buyer demographic than you expected, why? If enquiry is strong but nobody is taking the next step, what is that telling you?

The answers won't always be obvious. That's precisely why they're worth exploring.

Look beyond the sales figures

Of course, data matters. We need to know recent sales, days on market, listing volumes and what comparable properties are achieving.

But knowing your market is about more than knowing the numbers. It's understanding the people behind them.

Talk to buyers, talk to sellers, talk to local businesses, walk around your neighbourhood rather than simply driving between appointments.

Notice what's being built, renovated or knocked down, look at which properties are attracting attention and which aren't, and watch what other agents are doing.

Not because you need to copy them, but because curiosity makes you better informed.

The more interested you are in your market, the more likely you are to notice change before it becomes obvious.

Don't let your past experience answer today's questions

There's another trap experienced agents need to be conscious of. Sometimes something was true for so long that we assume it is still true.

Based on past experience we might think buyers won't pay that much for this side of the suburb, families aren't interested in apartments here, that style of property always takes longer to sell, or sellers in this area always prefer a particular method of sale.

Maybe. But when did you last test that assumption?

Your experience should inform your judgement, not close your mind. Some of the most valuable knowledge in real estate comes from recognising when an old rule no longer applies.

Curiosity makes you a better adviser

Clients rely on us for more than the information that they could find themselves online. They want perspective.

A seller can look up recent sales, but what they need from an experienced agent is an understanding of what those sales mean for their property.

They need someone who understands what buyers are thinking, where demand is coming from and how the market is changing.

That knowledge doesn't come from relying on what you learned five years ago. It comes from continuing to learn today.

Keep asking questions

Experience should make you more knowledgeable. It shouldn't make you less curious. The agents who really understand their markets aren't necessarily the ones who have worked in them the longest.

They're the ones who keep paying attention. They notice, they listen, they ask questions, and they're willing to change their view when the evidence in front of them changes.

So, regardless of whether you've worked in your market for two years or 20, keep asking why: Why did that sell? Why didn't that one? Why are buyers responding differently? What's changing? What am I missing?

Because knowing your market is valuable, but remaining curious about it is how you make sure you continue to know it.

About the Author

Manos Findikakis is the CEO of Agents’Agency, Australia’s first multi-brand real estate network, ‘the only fully integrated solution for you and your people to create an unforgettable experience.’

For all enquiries and more information on how the Agents’Agency can help you take your career to the next level, click here to get in touch.