After almost 20 years in the real estate business, and an REIQ Salesperson of the Year award, Plum Real Estate’s Brett Andreassen has made the switch to the Market Buy platform.
Throughout his career, Mr Andreassen has seen all facets of the real estate industry, from his first position as personal assistant to the principal to everything in between, including property management, leasing, BDM and sales assistance.
“At 21, I moved into a commission only salesperson role, where I have been ever since,” Mr Andreassen said.
Suffice to say, Mr Andreassen knows a thing or two about sales. In 2012, and every year since, he’s been a finalist for the REIQ Salesperson of the Year, winning in 2015 and 2020.
But while working under the usual structure of listing a sale with either a set price or an ‘offers over’ price tag, Mr Andreassen knew he was onto a winner when he came across Market Buy.
“I heard about Market Buy in mid-2019, and watched it from a distance throughout 2020, as people had to change their tactics in the new market, thanks to COVID-19,” Mr Andreassen said.
“I then watched an in-depth presentation on the system at the Outbreak conference of 2021.
“Throughout that year, we were handling large amounts of multiple offers and although we were receiving great results for our clients, the buyers were having a negative experience through the lack of transparency in the process,” he said.
With transparency at its core, Mr Andreassen said the Market Buy platform was able to get buyers engaged in a holistic fashion, and with outstanding results.
“They were more than happy to offer, they were more than happy to compete and the overall experience for all parties – buyer, seller and agent – was improved dramatically,” he said.
During his first month using Market Buy, Mr Andreassen has sold seven homes through the system, with another three currently underway.
“The first property we sold was in Toowong. A normal two-bed, one-bath unit with a sales expectation of $380,000,” he said.
“We had 71 buyers through the property in 24 hours, 44 of those registered.
“Sixteen buyers made offers, and the property eventually sold for $490,000, which blew away everyone’s expectations.”
Mr Andreassen said the buyers’ feedback was that they loved the transparency.
“It gave them the confidence to offer more because they could see that other people saw value in the property,” he said.
“The main advantage though is the increased transparency – no more having to skirt around the ‘what’s your best offer?’ question.
“The process is more streamlined for all parties and it can certainly allow you to handle more properties.”
Mr Andreassen said his clients now had the ability to be involved in the process from end to end.
“The terms are as flexible or as inflexible as they want them to be, and it brings the same sort of competition that an auction can bring to a private treaty environment,” he said.
His advice? Make the switch, but don’t move into a ‘set and forget’ mentality.
“The property result is still in direct proportion to the amount of work that you put into it,” he said.
“Set a structure around how you communicate with each party at each stage of the campaign – registration, first offer, final day, four hours to go, one hour to go, post-sale process.
“You don’t want to be flying by the seat of your pants with this. I treat it with the same intensity as I do with my auction properties.”