The Rise and Rise of the Buyer’s Agent

Auction Bidding Service

More Buyers are Securing a Professional Advantage!

 

Long popular in the United States, buyer’s agents are becoming increasingly popular in Australia too, as more buyers see what tremendous value there is in having a knowledgeable professional acting and advocating for them. Here’s what to know and what to look for.

Buyers Agent Sydney

 

A decade ago there were only a few buyer’s agents operating in Sydney and they were largely considered (rightly or wrongly) the domain of the wealthy. Today, more and more buyer’s agents are popping up in Sydney and elsewhere, as buyers at all price points cotton on the huge benefits using one can achieve.  

 

Not just for the wealthy

There’s a common misperception that only well-off people use buyer’s agents but this is simply not the case. Buying a property is a huge investment and getting it wrong can be costly. Investing in a professional property buyer, who knows the market inside out and has an extensive network of contacts and a wealth of knowledge to draw upon, will almost certainly save money, even when their fees are factored in. It’s also the most likely way to secure your dream home or investment property in a competitive market.

 

Getting it right

It’s important to remember that good property investment isn’t only about saving money or securing a ‘bargain’, however, but about getting the right property, at the right price, at the right time – for your unique needs. A good buyer’s agent will consult with you extensively to figure out what you hope to achieve and will have the experience and market knowledge to find the property – or properties – that ticks all the right boxes.

 

Why use a buyer’s agent?

Buying a property can be an incredibly time consuming and stressful experience. With so much at stake it’s easy for the novice to miss important details that could have huge consequences later. An experienced buyer’s agent can transform the process into a seamless, stress-free one, and achieve a far better result. They may know about off-market properties that are unique or in need of a fast sale, for example. What’s more, a great buyer’s agent will go above and beyond the one real estate transaction, guiding you to figure out your long-term property-related goals and strategy.

 

On the auction block

Televisions shows like The Block and Location, Location, Location have played a role in the rising popularity of buyer’s agents, by showing them in action at auctions, highlighting their value as audiences witness the results they can achieve.

 

The auction process itself can be fraught with pitfalls. Most people will only buy at auction a small handful of times, if that, in their lives. A buyer’s agent, who has done it dozens or even hundreds of times, knows all of the traps and has a multitude of strategies to put in place for success. They’re also emotionally detached – they are simply there to achieve the best outcome for their client – and that in itself can avoid many common mistakes, particularly those made by first-time buyers.

 

What to look for in a buyer’s agent


With more buyer’s agents popping up all the time, it’s important to make sure that you’re engaging a true professional with a proven track record. They should have several years’ experience – at a minimum – in the specific area that you want to buy. Check that they are appropriately licensed and insured with the relevant professional qualifications and ask about their most recent purchases and reviews. They should ideally also be a member of the Real Estate Institute in your state or territory.

 

Want to save tens of thousands of dollars on your next property? Use an experienced negotiator from TBAS® Buyers Agents.

Call us on 02 9363 3239 or EMAIL US

 

5 Reasons why NOW is the best time to BUY Property in Sydney

Buyers Agent Sydney

5 Reasons why NOW is the best time to BUY Property in Sydney

Conditions are the best they’ve been in a decade!

 

While the softening Sydney real estate market is scaring off many buyers, smart buyers and property investors know that now is time to snap up a bargain. Here are five reasons why the real estate market in Sydney is the best it’s been in a decade.

 

#1: Down, down, prices are down

 

According to CoreLogic data, Australian dwelling values fell 4.8% through 2018, marking the weakest housing market conditions since 2008. The year that was showed consistently larger quarter-on-quarter decline in Sydney and Melbourne. In some parts of Sydney we are now seeing prices down as much as 20 per cent from their peak. While it’s impossible to perfectly time the market, prices could drop another five per cent by the end of 2019.

 

#2: There’s less competition

 

Remember the days of turning up to view a property and finding it looked like a party was in progress with would-be buyers lined up out the door? Not so any more. With a lot of buyers running scared, it’s the perfect time to buy real estate in Sydney – less competition means lower prices. Following the Banking Royal Commission findings, banks have significantly tightened their lending conditions, which has considerably reduced buyer activity.

 

#3: It’s a buyer’s market

 

With less buyers in the market it’s an ideal time to negotiate a better price. Make sure to do your homework both about the property and what other similar properties have recently sold for and use this as leverage. Hold your ground, be willing to walk away, and know that there are deals to be had if you’re patient and firm in your negotiations.

 

Remember that the good properties always have more than one buyer interested, so you need to evaluate the property and move quickly before someone else snaps it up. Get professional help from a buyer’s agent if you can. Scoring a top-quality investment at a bargain price will pay off big dividends in the long run. Plus, it’s always better to have one on your side, rather than one working against you.

 

#4: The playing field has been levelled

 

The tighter lending conditions are hitting investors hard, with new restrictions by the Australian Prudential Regulation Authority (APRA) aiming to limit lending to heavily investors, while minimising the impact on home owners and investors. Because investors are often the main competition for first-time buyers, this reduced investor competition makes life a lot easier for those seeking an affordable entry point into the market.

 

#5: A history lesson  

 

You only have to cast your mind back a decade to see the wisdom of buying now. When the GFC hit, it was the savvy cashed-up investors who were buying while others were selling or running scared. Those who bought then are certainly laughing now. The market will inevitably rebound and those who have capitalised on the short-term downturn will be amply rewarded in the long-term. In its Residential Property Prospects 2018 to 2021 report, economic forecaster BIS Oxford Economics predicts that Sydney’s median house price will bottom out at 8 per cent below its June 2017 peak before turning up again.

 

Act fast when you find a bargain

 

Our assessment of the current market, given what we see from the 10 or more auctions we attend weekly, is that despite the softening conditions, good properties are still selling above reserve price. These are the properties that have strong fundamentals such as being located close to public transport, schools, shops and major infrastructure with potential for capital growth.

 

Want to save tens of thousands of dollars on your next property? Use an experienced negotiator from TBAS® Buyers Agents

Call us on 02 9363 3239 or EMAIL US

 

Rodney McLoughlin is the Director of TBAS® Buyers Agents, located in Sydney, Melbourne & Southern Highlands. With 30 years Real Estate experience Rodney’s team provides Exclusive Representation for the Buyers.