"We’ve experienced some record results here in Noosa through our auctions, multi-offer situations and even off market sales across all suburbs and price ranges during this financial year."
Lauren Chen a residential and investment property specialist at Tom Offermann Real Estate Noosa is proud to be a born and bred local in one of Australia’s holiday meccas.
With a friendly personality and local knowledge spanning two generations of real estate practice in Noosa, Lauren is well equipped to assist anyone purchasing or selling at any price point, including the recent $10m sale of a luxury holiday home on sought after Witta Circle. This was the second sale in Witta Circle for Lauren and her father, Luke this year. The sale of 33 Witta Circle set a historical record for Noosa Sound as the first single allotment sale to reach eight figures.
WILLIAMS MEDIA spoke to Lauren about her career and her expectations for the Noosa luxury market in 2020 and beyond.
Source: Tom Offermann Real Estate - 33 Witta Circle Noosa Heads Sold by Lauren Chen and Luke ChenWhat are your predictions around the Noosa property market for 2020?
Noosa has experienced a high demand and severe lack of supply over the past 18 months so buyers are ready and eager to sign contracts when the right property becomes available. With money withdrawn from stock markets and low interest rates, the property market and the confidence in 'bricks and mortar' is what smart investors turn to.
During this financial year we’ve experienced some record results here in Noosa through our auctions, multi-offer situations and off market sales across all suburbs and price ranges. While the current restrictions and conditions have seen a focus on families, health, and businesses, people are still transacting on property, whether they plan to relocate here or secure a future holiday home.
What is your message to buyers from what you’re hearing & experiencing?
It’s not the time to be gambling with the ‘what if’ factor, hoping to snare a bargain in 6 months. If something is exactly what you’ve been looking for then seize the opportunity and get into the market.
Everybody wants their own slice of Noosa and the waiting lists continue to grow, with a staggering number of buyers registering their details and criteria with agents. They’re driven by frustration and the fear of missing out again, and try to secure a property before it hits the public market.
Noosa is an icon, and some of our recent record results reiterate how high the prices continue to soar.
Source: Tom Offermann Real Estate - 13 Witta Circle, Noosa Heads sold by Lauren Chen and Luke ChenWhat advice would you give to vendors?
A number of sellers are holding fire for when the cloud cover lifts, but with the lack of new listings on top of our already ‘drought like’ market conditions, there is little competition. We’re seeing buyers in a cash position having sold property during December – February, now have nothing to purchase.
Experienced and savvy owners are contacting us to bring their properties to market now, before the ratio shifts from 5 buyers for 1 property to 5 properties for 1 buyer when the rest of the herd runs.
What demographic are you mostly dealing with and what are they looking to buy?
One of our leading brackets is the 50+range, who are either retired and want a lifestyle, or still involved in big business but no longer need to be hands on.
With a number of well established schools in the community, safe streets and an abundance of outdoor sports and recreation activities, families are another permanent demographic in Noosa.
The upsizing/downsizing trade-off results in a constant flow of transactions between these two demographics.
Other than NZ and the occasional expat, the holiday and investment market is largely domestic. Known as 'little Melbourne' since the 60's Victorians migrate north to Noosa for the winter months to thaw out. With the ease of driving 1.5hrs to their holiday homes, Brisbane investors aren’t far behind and Sydney has started to make its mark on Noosa as well.
Source: Lauren Chen - Luke and Lauren ChenHow has your experience as a second generation Noosa agent guided your luxury real estate career?
As the second generation Chen working in Noosa real estate I am fortunate to have had a head start in 2012 when I began career. My father, Luke Chen started in real estate in the late 1980’s and continues to be a leading agent in the luxury market..
He has built a trusted reputation for knowing the facts, sharing information freely and openly, and being kind and approachable. He is respected by many business moguls around the world who have investments in Noosa. He receives calls and referrals weekly from both buyers and sellers, specifically wanting his help.
I take pride in being a carbon copy of my father and provide the same assistance to my own clients.
Although Noosa's luxury market attracts public identities and high profile figures, Noosa still radiates its laid back beach town roots. Anyone can come and relax and just be themselves, no matter who they are.
Source: Lauren Chen - Queensland vs. New Zealand 'try saving tackle'What hobbies have you enjoyed, how have they influenced your career?
I’ve always been an athletic individual who picks up things quickly. Touch Football is my clear favourite, but I also enjoy snowboarding, surfing, walking our local beaches and the Noosa National Park, travelling, tennis, Rugby 7s and golf.
Playing Touch Football in high school I quickly found myself on representative teams for the Sunshine Coast. Touch Football became my sole focus, I proudly pulled on the 'Mighty Maroon' jersey, achieving my goal to represent Queensland. Like any Australian sport our cousins across the ditch were our biggest rivals, so when the time came to play New Zealand the gloves came off and a win was sweet victory.
The years of representative sport taught me the importance of team work, reliability, persistence, commitment, resilience, respect, hard work and constant training which I now use daily in my career as an agent.
What have you learned about yourself in the industry? Do you have any advice?
I’m continually surprised at the number of times my clients say I'm not like other real estate agents they’ve encountered. It’s also the reason I go to work every morning.
The person I am at home and the person I am at work are one and the same. My positivity results from balancing staying focus and hard work with having a great time and enjoying life – that’s something I’m very conscious of.
It allows me to stay in high spirits with a smile, have a sense of humor (while remaining professional), be my clients' 'friend in real estate', and establishes trust from day one. People can approach me with any questions because they know I will help them make a decision best for them.
Be kind, be informative, be yourself, and have fun with the job.
Related reading:
Rainforest riverfront residence on Noosa Sound sold for $10m