Agent Spotlight: Mark Murray, licensee, Stocker Preston

May 24, 2023, 09:38 AM

We spoke to Mark about his experience and passion for real estate, and what you need to know before jumping into the world of rural sales.

Title : Agent Spotlight: Mark Murray, licensee, Stocker Preston

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News date : May 24, 2023, 09:33 AM

Growing up on a wheat and sheep farm in East Beverly, Mark Murray expected to work in broadacre agriculture for the rest of his life. However, after a move to the South West, he joined the team at Stocker Preston where he now serves as licensee for the agency. He also chairs the REIWA Rural Network Committee.

We spoke to Mark about his experience and passion for real estate, and what you need to know before jumping into the world of rural sales.

How did you get involved in real estate?

I’ve always loved helping and working with people, so when my wife and I made the decision to move to Cowaramup, it was a natural fit.

I applied for a sales role with Stocker Preston over a decade ago and haven’t looked back. I work in both residential and rural sales. When it comes to the rural market, my background in broadacre agriculture has been extremely beneficial, giving me the experience to best serve my clients.

What are the differences between the rural sales and regional residential sales?

Rural property sales can range from a 6000ha farm to a 60ha small farm or hobby farm. They could be in the Wheatbelt or on the outskirts of Perth. Wherever they are, they require a completely different skillset. You have to understand the legalities that surround rural properties. This can include legislation around boundary fences, declared weeds and GST, as well as water use, fertiliser history, soil and pasture composition, among others.

When working with and appraising rural properties, you need to have a larger picture of the market. You need to know what the comparable properties are within a 50-kilometre radius, not just knowledge of a particular suburb.

It makes it easier if you’re a community member, which involves its own commitment. You need to know the people around you and understand what is happening in the local neighbourhood. The data doesn’t always paint a full picture of what is happening in the market, so by understanding the community you live and work in, you can better serve your clients.

What do you love about this career?

For me I simply love being able to help people, it’s no deeper than that. My deep-seated passion and background led me to rural properties, but no matter where I ended up, I always wanted to be able to help people.

In my experience in the rural market, buyers and sellers are very down to earth and happy to have honest conversations with you, and being able to fully understand your client’s needs significantly helps the selling process.

What has your local market been like in the past 12 months? 

In the rural sector, we’re seeing the number of properties available continue to decrease over the past six or seven years. Due to a lack of supply, we’re seeing a tighter demand for rural properties and hobby farms.

In terms of investment, I would say most enquiries are coming from buyers within the region, or metro-based investors looking for holiday homes that sometimes double as an investment. We are seeing a slight increase in the number of interstate investors, but this only makes up a small portion of the market. I would say the investment to owner-occupier ratio is increasing to levels seen approximately five years ago.

contenttypes : Article

topics :

Regional WA

audiences :

Experienced buyer
Investor

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