Buyer's agents do come at a cost, but there are two primary reasons to make the investment.
Blogger: Rich Harvey, CEO and founder, propertybuyer
Valentine's Day has come and gone, but that doesn't mean people should completely forget about their partner. A relationship is a long road, with peaks and valleys, that requires consistent work, trust and understanding from both parties. Your relationship with property should be the same. Just because you're not buying a property right now doesn't mean you'll feel the same down the line, and it's important to keep that healthy relationship with the market afloat.
One of the best ways of doing this is by using a buyer's agent. The relationship an agent has with the market is a close one, and something that can help you get into a great property with ease. And that's because we keep in close contact with all areas of property, doing the legwork in real estate relationships for you.
Keeping close with agents
As New South Wales Fair Trading says, "an agent must act in the client's best interest at all times". While this means we're going to provide you with excellent, intelligent representation when you buy, it doesn't prevent us from working with selling agents as well. In fact, the close but professional relationships we can keep with agents who sell real estate can be very beneficial in the long term.
The best buyer's agents will be able to give you access to properties that haven't even been listed on the market yet, and maintaining healthy relationships with selling bodies is an important part of that.
Keeping a good relationship with the market
Just as a relationship between peoples requires good understanding, a good buyer's agent has an intimate understanding of the market. We keep up to date with the latest data and use it to shape briefs for clients that fit their financial situation well.
For example, looking at the latest data from the Domain Group, it's clear that land prices in outer Sydney are rocketing at a faster rate than houses at this point. We look at the wide sets of data on suburbs currently growing and adjacent areas, creating a clear plan for pieces of real estate that could erupt in value for buyers and investors.
When it comes to appraising current market value, we look at the most recent and comparable sales. Sydney’s market is so hot at present with the auction clearance rates above 80 per cent, so prices are often going above reserve. To determine true long-term value, we look at a range of factors that impact value and obtain a lot of useful information from historical sales data as well as from agents for properties that sold last week (and don’t appear on the public register yet).
By keeping up to date and close to the market trends, we have a great understanding of what makes property prices tick. This type of relationship is crucial when it comes to buying a property, and is a principal reason buyer's agents are a popular choice for anyone buying a property in Australia.
About the Blogger
This article was written by Rich Harvey, founder and Managing Director of propertybuyer, Sydney & Australia’s most awarded Buyers Agents. Propertybuyer helps property investors and home buyers search and negotiate the right property at the right price, everytime. For further details please visit www.propertybuyer.com.au or call +61 2 9975 3311 or 1300 655 615.