When selling your home it is critical that you work out how to choose a sales agent. And a good sales agent will know how to work with buyers agents. It’s like buyers’ agents have finally been discovered by the mainstream media! Over the past couple of weeks we have noticed a number of news stories about the rising demand for buyers agents in the competitive Sydney property market. Heck, even 7 News ran a story the other night on Buyers’ Agents!
So, with many buyers now electing to pay for advice, sales agents need to rise to the challenge. Back in the early 2000s, when I worked in real estate sales, it was pretty rare to come across a buyers’ agent. For the past 10 years I have represented buyers instead, and in the early days I often had to explain my role to a selling agent. Gradually, over that time, I have seen the savvy agents “get it” and welcome the opportunity of dealing with a professional rather than an unrepresented buyer who doesn’t always play a straight game.
Now, I get it! Buyers are always complaining that agents underquote and don’t give the full story. But buyers, tell me honestly, when was the last time you told a sales agent exactly how much you were prepared to pay for a property? You probably didn’t even know yourself how much you would bid up to at auction, so you can understand how agents may not stick their neck out for you and run the risk of blowing their auction campaign?
Anyway, I digress… the fact is that a good sales agent will know how to deal with a buyers agent. If they don’t, they will not be representing their vendor’s best interests. Why do I say this? Because sales agents need to get the MAXIMUM amount of buyers interested in their listings. If your agent is not encouraging buyers’ agents to view your property (or if they are actively discouraging us, as some unbelievably do), then they are cutting out a growing segment of the market. The more interested buyers you have, the quicker you will sell and the more likely it is that you will get the best price. So, it makes sense that when figuring out how to choose a sales agent, you need to assess how well they work with buyers agents.
We maintain a big picture view and prefer to deal in a professional manner that allows our clients to buy quality property at fair market value. A small minded agent is one who thinks they don’t need to engage with buyers’ agents. My message to these agents is that we aren’t going anywhere – you will need to deal with us eventually if you wish to stay in the game.
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Published 9 November, 2016.
DISCLAIMER: Good Deeds buyers tips are intended to be of a general nature. Please contact us for advice that is specific to your individual circumstances. You may also need to get advice from other professionals such as an accountant, mortgage broker, financial planner or solicitor.