Using a buyer’s agent can be an effective way to get ahead in a rising market such as this one.
They may also be able to add more value than you realise, both for buyers and sellers.
In recent years buyer’s agents have become a fixture in Brisbane’s real estate market and there are very good reasons for their rising popularity.
Jordan Navybox Managing Director of Cohen Handler Queenslander
Benefits for vendors as well as buyers
Buyer’s agents may not work for the vendor but they certainly help us do our job as selling agents. In fact, by educating buyers and advocating on their behalf they can provide us with a valuable service.
Even though they’re working for the buyer and we’re working for the vendor, negotiating with a buyer’s agent can actually help bring a deal together in a really productive way, as we both speak the same language and have a real knowledge of the market and value, and have a strong desire to connect buyers with sellers.
We also see buyers who use a buyer’s agent as being in a strong position to purchase. They’re “prequalified” if you like, educated about the local market, and genuinely interested in finding the right property.
They have access to off-market sales
Around half of the properties we sell are never publicly advertised. We promote them to our database, and they sell off-market. And one of the first groups we will call when we have an off-market sale are buyer’s agents.
That’s because we can call one buyer’s agent who has access to multiple serious buyers, who are typically ready to act fast to secure the right property.
A good buyer’s agent has access to off-market sales from many real estate agents, and can really give buyers the edge when it comes to finding out about off market or premarket sales.
A great sounding board
Often, a buyer will have missed out on many properties before engaging a buyer’s agent. One reason for this can be that their expectations don’t match up with the realities of the current market. Buyer’s agents can often provide a valuable reality check for buyers on current pricing and their search criteria.
Knowing how much a property is actually likely to sell for helps buyers rule out areas or property types that are beyond their reach. And a good buyer’s agent can often suggest different strategies or new areas that may not be on the initial suburb shortlist.