Do you keep missing out on the best properties? Are you finding it hard to locate the right properties for sale? Do you wonder whether a buyer’s agent is really worth the cost?
The answer to all these questions is- because real estate agents actually prefer to deal with buyer’s agents.
Buyer’s agents create a career in buying property by developing trusting and long-standing relationships with real estate agents. Through these professional relationships, buyer’s agents are often given first look at properties before they are even offered to the general public which means they have the chance to complete all their due diligence and checks so they can snap up the property really quickly before the regular buyer has a chance.
Another advantage that buyer’s agents get from their professional relationships is they are offered access to any off-market properties. This is where sellers prefer to sell their property privately through the real estate agents contacts, and this happens more often then you realise.
Why would a seller want to sell privately off market? This could be due to a number of reasons, but it is because the seller wants to keep their privacy. Sometimes this is due to a divorce situation, an elderly person being moved into a nursing home and they don’t want the stress of a listed property, the seller might not want nosey neighbours/family/friends to know they are selling, or they just prefer to keep their situation private.
The reason that real estate agents prefer to deal with buyer’s agents is because their relationship is built on trust, and they know that the buyer’s agent will have qualified buyers and the transaction is likely to run smoothly and more efficiently.
A buyer’s agent is a serious buyer and will not waste the real estate agent’s time. They will also ask all their questions straight up with less back and forth. Buyer’s agents will also make up their mind quicker and have a range of buyers to offer the property to which will mean a quick sale for the real estate agent.
Having qualified buyers ready means that a buyer’s agent will have clients who are ready to buy the property if their offer is accepted, this is because they already have their finance in place with pre-approvals ready to go. They would have already made a short list of properties and have decided what type of properties, and what characteristics they are looking for in a property.
A buyer’s agent also knows the process very well and will help the process move quicker. They will complete their due diligence from the get-go, organise building and pest inspections, and only put an offer on the property if they are actually prepared to buy the property. They will hold the hand of their client and help them through the process and ensure the deal is secured.
It is beneficial for selling agents to build their relationships with buyer’s agents because they understand the importance of referrals in the property industry. Buyer’s agents will buy property on behalf of their clients, but they do not sell properties. Real estate agents understand that often when there is someone buying a property, it is likely that they might need help selling their property or they will have a property to sell in the future. Developing a strong professional relationship means that the buyer’s agent is likely to recommend their services to clients who want to sell a property.
Due to most real estate agents preferring to deal with buyer’s agents this alone proves that a buyer’s agent is really worth their weight in gold.
A buyer’s agent will also not fall for real estate sales tactics as they have seen every trick in the book. A selling agent will not try these tactics on a buyer’s agent because they want to build a long-standing relationship so they can offer them more properties over time.
A selling agent will also be more transparent and honest with a buyer’s agent in order to build this relationship and so offer special deals and new properties to buyer’s agents to secure a quick deal.
A buyer’s agent will also know how to negotiate with each of their selling agents as they would have dealt with them over a long period. They begin to understand what they are willing to negotiate on and their negotiation tactics which is likely to secure a better deal for the buyer.
If you are looking for a buyer’s agent to assist you with purchasing a home or investment property in the Sydney, Brisbane and Newcastle regions, as well as SA, TAS, ACT, VIC, NSW & QLD please get in touch with Lloyd Edge and his team at Aus Property Professionals here or give us a call on 1800 146 837!
