National Forum

Real Estate Markets

Mr Keith Bradby
Summary Notes from Workshop

Objectives: To develop strategies to increase the conservation-based marketing of bush properties among real estate businesses across Australia. To develop strategies for overcoming impediments to landholders wanting to sell/market their property, or part of their property, for conservation purposes.

What's the role of government in doing this?

Needs to work to create the framework, systems and connections to create this new market
Making information on properties available (with appropriate safeguards)
Local government could monitor land sales in its area and intervene to connect them to existing voluntary programs
Comment from a Landowner:
- "We have lots of bush to sell. Who do we go to find out what we have to do?"
- Need a "Five easy steps for selling your bush" guideline

The need to educate real estate agents about what we want and what's possible.

Partnerships with Real Estate agents need to be developed to:

Help them know how to describe, market and sell these properties - change the mindsets
Create the new marketing options and develop this new emerging market
Develop the policies and systems needed for this emerging market whilst ensuring conservation outcomes

Possible markets to be developed in stages include:

The niche/core conservation market (people wanting to buy who already understand conservation issues),
Then extending the market through wider awareness raising,
The international market,
Eco-tourism
Linking the "Pitt Street/St George's Terrace farmer with the farmer on the land

Comments:

From a prospective buyer: "We got pushed my the real estate agent into the 'small farm' category (they didn't understand what we were looking for"
From a real estate agent: "I'm confident that if work was done with real estate agents to better describe and market land that we would see an increase in the number of buyers"
Good descriptors could help real estate agents market these properties better

The need to define, target, find and create the market for this kind of land - educating the vendor

Aiming the language appropriately

Fitting types of Title to fit specific needs

Exploring and developing new forms of Title to suit the emerging markets

How to match buyers and sellers?

Currently we have more sellers than buyers. Sellers need to get smarter about marketing
A key issue is how to identify land that is of real conservation value and also how to find out when good land (with conservation value) is coming on the market.
Need an 'RAC for Bush': People who can do an environmental evaluation (inspection). These could be government, private business, non-government or tertiary institutions
Some use is being made of Websites: there are two in the eastern states. There will shortly be on in WA through Bush Brokers.

How have/can prospective buyers identify land that is available and has high conservation value

Decide a regional focus and criteria
Look at aerial photographs and then explore options

How to get momentum going in this market

The need to educate government and local government about this new emerging market
Talk to web-sites about how to better describe, publicise and differentiate this market
Talk to real estate agents about how to better describe, publicise and differentiate this market