What is an Exclusive Buyers Agent?
NOT ORIGINAL CONTENT – NEEDS REVIEWING
Buyers’ agents provide the most accurate and up-to-date gauge of the property market to date.
Advertised prices aren’t always the best market indicator, neither is sold data from three months ago. Experience on the street is valuable.
This involves: researching and viewing properties and locations; and talking to agents, sellers, valuers, councils and naturally other buyers.
Actively in the market every day, buyers’ agents are the eyes and ears of the property market.
With this added benefit of street knowledge they can provide a more holistic perspective on what’s happening in the Brisbane property market, so investors will be better informed on the type of investment they should target and at what price.
2. They can help formulate or sharpen a property investor’s strategy.
What’s the point of starting the search if the investor doesn’t really know what type of investment or home they’re after?
Most buyers’ agents can help work out the strategy before starting the property hunt. They can identify their client’s needs, goals and time frames and work out what investment type best suits their strategy.
3. They can source properties before they’re advertised.
Because buyers’ agents are the eyes and ears of the property market they are often privy to properties going up for sale before they’re listed.
This means they can put the buyer in a powerful position to access a property and place an offer on it before it has reached the market.
This also means they’re often able to help buy properties for substantially less than they would if dealing with the selling agent directly.
4. They have time to fossick through properties and locations when buyers don’t.
Finding a property before it’s advertised – such as a deceased estate – is difficult for most investors and home buyers because, well, jobs and families do consume a lot of time.
This is why many investors and home buyers will only inspect three or four properties before making an offer – a very small pool given the number of potentially more profitable properties out there.
Buyers’ agents however are physically out in the market inspecting properties and locations daily so naturally they have the time and opportunity to come across properties before being released to the open market and properties with enormous potential.
5. They go behind the scenes.
With time, market contacts and experience comes the ability to delve behind the shutters to take a microscopic look at the finer details of shortlisted properties.
These details often include the council approvals on extensions and renovations and certification on pool fences, plus some of the more personal information including the motivation behind a sale and the time a property has been sitting on the market.
6. They negotiate with skill and expertise.
Buyers’ agents arm themselves with the detailed knowledge of the property, putting them in the best position to negotiate a better price and contract conditions.
Remember, they are effectively real estate agents so they know how to confidently handle price negotiation.
7. They’re working for you, not for the developer, selling agent or seller.
When first qualifying the buyers’ agent it’s important to check they are truly independent and that they have no properties for sale which they are attempting to sell you. Generally if they are quoting they will act for free on your behalf, it is because they are being remunerated by a developer or a selling agent, or they are the selling agent. Ask yourself – if I am not paying them – who is and what would be motivating them to do the best thing by me?
Unlike selling agents, a good buyers’ agent will have access to every property on the market including silent listings, off-the-market properties and are frequently contacted by sellers directly before listing their properties for sale with an agent.
They’ll aggressively negotiate and add in clauses to the contract to benefit only their client rather than the other way around.
If sellers engage selling agents to act for them in their property sale, surely it’s logical that buyers also enlist a buyers agent to assist in their purchase. So, why wouldn’t an investor or homebuyer choose to have someone experienced in their side and engage a buyers’ agent?