A booming property market is a sellers' market where properties are being snapped up quickly. Sometimes, within hours of listing. It is a market where the sellers have the upper hand when there are more buyers than properties available for sale.
With buyers missing out on some good properties, many are getting frustrated and desperate. While most buyers start to panic and start cutting corners and start snapping up the next available property blindly, savvy home buyers have turned to the help of buyer's agents (also known as buyers advocates) to help them buy their properties faster.
Who are Buyer's Agents?
Licenced buyers agents are licenced real estate agents whose role is purely to protect the buyers and their interests, and to help them outsmart the property market and avoid overpaying for the home. They are real estate agents who specialises in helping buyer's buy confidently and quickly.
How can Buyers Agents help in a seller's market?
In a seller's market where there are more buyers than available properties, buyers agents have been performing outstandingly. How do they do that?
Buyers agents understand the property market well. They understand the buyers and property dynamics, the demand, the buyer demographics, and the property itself. They know a good property or a good deal when they see one, and this helps them react to good property deals quickly and confidently. This is why they are able to react fast when new listings are available and recommend quality properties to buyers confidently.
Buyers agents also have good access to off-market listings. Good selling agents usually gives buyers agents the first dip in good property, before they list it. They know good buyers agents and good buyers advocates pre-qualify their clients, ensure their clients are suitably prepared to buy the right property quickly, when it's available. They also realise, because of the buyers agents understanding of the property market and the client's needs, they can sell their properties up to 3 times faster. Ie, it is easier to match their properties to clients represented by buyers agents as the offers are realistic.
How can Off-market Listings Help Property Buyers?
Off market properties are properties which are not openly advertised in the market. With less exposure, there will be less buying competition with these properties, and your chances of securing the property is a lot better.
How Important is Understanding the Property Market?
In a sellers' market, having a good understanding of the property market is very critical. It helps you identify a good property deal quickly, so, you can make the offer when you find a good property, before anyone else does. We've seen properties being sold within hours of listing. Thus, speed of response will help ensure you do not miss the opportunity.
Can Buyers Agents Negotiate in a Sellers Market?
Yes, while negotiating is almost impossible in a sellers market, buyers agents can help ensure you know what you should be offering for the property. Buyers Agents can help you appraise the property, provide a realistic value for the property and stop you from overpaying.
Can Buyers Agents Guarantee Discounts on Property Prices?
Definitely, it is a yes. But you have to be careful. We know some buyers agents will guarantee x% discounts. But with a catch... Get in touch to find out.
How can a Buyers Agent help?
Briefly, buyers agents can help:
you save time and reduce stress
you buy your property up to 3 times* faster. *Canstar report.
save on your rent, if you're renting, by simply buying your property faster
earn more, by buying your investment property faster and thus collecting the rents earlier
save over 16%, compared to when you are buying on your own
outsmart the property market
avoid inflated pricing
buy confidently and quickly
How can I get in touch with a Melbourne buyers agent?
Give us a call or submit call back request here.
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