While the services of a buyer's agent are not yet as well known as the services of a selling agent, there are several ways buyer's agents demonstrate their value in any market. 

Knowledge of the market

Full time buyer's agents are immersed in their local market, accumulating valuable data in real time. This data is crucial because buyers are purchasing one property in one individual suburb, they're not purchasing the whole suburb, which is often as granular as data will go. Data is also often a reflection on what has happened, while being in the market everyday allows you to assess what is happening. While historical data is very useful, a buyer's agent will use data as context and combine it with what is happening in the market in real time, to provide clients a competitive edge.

To assess what is happening in the local market, a buyer's agent speaks to selling agents, buyers, owners, mortgage brokers and conveyancers; all the people with perspective on the property market. Overlay this information with vendor expectations, selling agent style and level of competition and this information helps buyer's agents secure a property at the best possible price and terms for their client. 

Access to property

Relationships with selling agents means buyer's agents are front-of-mind and often the first people the agent calls to preview a property. There are hundreds of agents operating in any one region, so it's our job to be on their radar which means being on the phone, proactively calling lists of agents to create opportunities for clients (hello the source of off-markets!). Buyer's agents also inspect property during times most people are at work. By the time buyers schedule an after-hours appointment or organise the kids on a Saturday, it might be too late!

Negotiation

Preparation is key! This includes understanding the pros and cons of each property that's being negotiated. The more prepared a buyer is in a negotiation, the more control the buyer has. This includes appraising the property in the given market conditions. For example, conducting a comparable sales analysis (this info isn't always easy to come by FYI), knowing the market (point 1) and assessing the benefits, scarcity, quirks, and negatives of the property. 

If you have any questions about the above or the services a buyer's agent can offer, you can call me on 0409 812 137 or email me at rhiannan@buyersdomain.com.au

Rhiannan Jenkins is a property investor, real estate nerd and advocate for independent property advice. She has invested, studied, researched, worked and built a network to be in the position she is in today to help home buyers and property investors confidently purchase their first or next property. She work with first home buyers, new and experienced investors, upgraders and downsizers to help achieve their property purchasing goals. Her role and personal goal is to cut through the noise and be an independent voice for buyers in the real estate industry.

If you want to see more of this property news and other tips and insights from property experts, email rhiannan@buyersdomain.com.au to subscribe to Rhiannan’s monthly newsletter.

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