[Video] What Does a Good Buyer’s Agent Do?
In the competitive landscape of Sydney real estate, navigating the path to finding your dream property can often seem overwhelming. There are the many Saturdays sacrificed in attending property inspections. The money spent on pest and building reports so you can attend an auction. The frustration of chasing a property only to find that it was out of your reach anyway!
And then when you do find a property, there’s the negotiating with the selling agent and ultimately the vendor.
With the guidance of a good buyer’s agent, this journey becomes not only manageable but also shorter and more rewarding.
In this video, Liz Zaki interviews Michael Salvartsis, Director and Principal Buyer’s Agent at Real Property Buyers to delve into the role of a good buyer’s agent and how their expertise can lead you to bigger success, and less frustration in a competitive property market like Sydney.
What Makes a Buyer’s Agent “Good”?
A good buyer’s agent is more than just a facilitator of property transactions; they are a trusted advisor who prioritises your needs and goals above all else. With a keen understanding of the market, extensive industry connections, and superior negotiation skills, a good buyer’s agent becomes your invaluable partner in the quest for your ideal property.
Getting Location and Budget Right
In the video, Michael highlights the critical significance of aligning your budget and property preferences with your desired location. In some cases, clients may need guidance in refining their location choices to ensure they are both feasible and suitable for their needs. A good buyer’s agent will give you invaluable insights and suggest alternative areas that meet your criteria, ultimately leading to a better long term outcome.
Saving Money Through Insightful Analysis
One of the most significant advantages of working with a good buyer’s agent is their ability to save you money through astute analysis and negotiation skills. A good buyer’s agent will be able to help you anticipate or estimate a property’s current market value, ultimately saving you from overpaying. Or wasting time and money on a property that is outside of your budget.
In a tight market like Sydney where lots of properties go to auction, using a good buyer’s agent could save you hundreds if not thousands of dollars on unnecessary pest and building inspections on properties that were not suitable for your or were out of your range, as well as giving you a lot of your Saturdays back.
Access to Off-Market Opportunities
Buyer’s agents often have access to off-market properties that are not publicly advertised. This provides you with exclusive opportunities to secure often desirable properties before they hit the market. Through their extensive network and reputation within the industry, a good buyer’s agents can uncover hidden gems and present you with unique investment opportunities that may otherwise turn into bidding wars if they were to hit the open market.
One of the biggest factors you can control if you are lucky enough to be presented with one of these opportunities is to have your finance prepared. Some vendors will take an off market offer if a quicker settlement is available.
Savings Through Strategic Analysis
One of the most significant benefits of working with a good buyer’s agent is their capacity to save you time and money through insightful analysis and negotiation prowess.
By conducting thorough market research and leveraging their expertise, a good buyer’s agent can anticipate property values accurately and negotiate favourable deals on your behalf – unemotionally. Whether it’s securing a lower purchase price or negotiating more favourable contract terms, a good buyer’s agent ensures that you get the best possible value for your investment.
Personalised Service Offerings
Most buyer’s agents will help you with research, sourcing, negotiating a property deal or even helping you bid at auction.
A good buyer’s agent offers personalised service offerings tailored to your individual needs and budget. Whether you require comprehensive assistance from start to finish or prefer a more streamlined approach focusing on specific aspects of the buying process, a good buyer’s agent adapts their services to align with your goals and objectives.
The Art of Negotiation
At the heart of every successful property transaction lies the art of negotiation, and a good buyer’s agent excels in this domain. They possess a deep understanding of property dynamics, seller motivations, and current market trends, allowing them to negotiate more favourable outcomes on your behalf – unemotionally. From navigating contract terms to advocating for your interests at the negotiating table, a good buyer’s agent ensures that your needs are met every step of the way.
Preparation Is Key
Having your finances ready and sorted is one of the biggest ways you can be ready when the buyer’s agent locates a property that matches your brief. Especially if they find off-market opportunities where speed is key to success. You have to be ready if lighting strikes.
7 Questions to Ask a Buyer’s Agent
When selecting a good buyer’s agent, it is essential to consider several key factors. Michael emphasises the importance of ensuring that your agent is properly qualified, holds professional indemnity insurance, and operates independently. Additionally, transparency and a commitment to prioritising the client’s best interests are non-negotiable qualities that every buyer’s agent should possess. They should be working for you and no one else. This includes in terms of accepting commissions or incentives from third parties.
The following questions will help you determine if the buyer’s agent you are considering possesses these qualities:
- How long have you been working as a buyer’s agent, and what qualifications do you hold in real estate?
- Can you share examples of successful property transactions you’ve facilitated in the past, particularly in the areas I’m interested in? Or with a similar brief?
- How do you deal with any potential conflicts of interest? What processes do you usually follow?
- What services do you offer to clients, and how do you tailor them to meet individual needs?
- How do you approach negotiations with sellers or their agents, and can you provide examples of successful negotiations you’ve conducted?
- How do you stay updated on market trends and access off-market listings or exclusive opportunities?
- How frequently do you communicate with clients throughout the property search and purchase process, and how do you ensure transparency in your dealings?
In Conclusion
In conclusion, the value of a good buyer’s agent cannot be overstated in today’s competitive real estate market. With their expertise, industry connections, and commitment to your success, they become your trusted ally in the pursuit of your real estate goals. If you’re ready to embark on your real estate journey, enlist the services of a good buyer’s agent and unlock the door to success in the property market often times more quickly and cheaply than you would otherwise be able to do yourself.
