Buyers Agent Sydney – Nick Viner
Buyers’ agents have been around in Sydney since the early 1990s – that’s nearly 30 years now! Barely 10 years ago, many Sydneysiders had not even heard of a buyer’s agent and I rarely bumped into any of my competitors at property inspections. But in the last 2 – 5 years, it seems as though there has been an explosion both in the number of buyers’ agents and in their demand from Sydney property buyers.
For example, there are now roughly 90 buyers’ agents operating in Sydney’s Eastern Suburbs which is a 35% increase in the last two years alone. And as to property inspections, it has become rarer for me to not bump into fellow buyers’ agents at Saturday opens!
1. Lack of Time
Sydneysiders increasingly lead busy lives. Searching for the right property is time consuming. It requires serious dedication and commitment. Giving up Saturdays. Escaping from work during the week. It can take months, if not years. It can be a long emotional rollercoaster ride of falling in love with a property; missing out; searching for the next one; falling in love…; missing out…; repeat…
Buyers’ agents on the other hand are constantly looking for properties and they are paid to use their time to look for properties for you in the most efficient ways possible. On the one hand, you will get your free time and your Saturdays back! On the other hand, buyers’ agents will take far less time to identify and secure the right property for you. They can wrap it up in days, if not weeks.
2. Lack of Stock
In my 11 years’ experience as a Sydney buyer’s agent, I cannot remember a time where stock levels have ever been particularly plentiful. Sure, it’s always relative but search for a particular type of property in a sought-after suburb and the availability of suitable properties will vary from non-existent to rare.
Buyers’ agents will find more properties and to use a cliché, they will open more doors. They will do this through thinking outside the square, using their extensive industry networks and having access to off-market properties which you otherwise wouldn’t know about. In accessing more properties sooner, buyers’ agents will clearly save you time as well which reinforces point 1 above.
3. High Prices
Buying a property in Sydney requires a serious level of financial commitment. And prices constantly seem to be rising. Well almost constantly.
But you have to pay even more to use a buyer’s agent. So how does that make any sense?
Well, sometimes you have to pay money to save money! Buyers’ agents are paid upon successfully securing the right property at the right price. They use their knowledge and experience to weed out properties that could end up costing a fortune to maintain; properties with limited capital growth potential; and properties that are simply overpriced. Clearly, there’s a lot that could go wrong and as property prices have been rising, Sydney buyers have more and more to lose.
Buyers’ agents on the other hand are professional negotiators and they will use their skills to secure the best deals. In doing so, they frequently save their clients multiple times the cost of their fees.
Yes, this is a serious business. But so is the increasing cost of Sydney real estate. That’s why more and more buyers in Sydney recognise that they will end up being better off if they use a reputable buyer’s agent to find and negotiate the purchase of their next property.
Today, there are more and more research tools and online apps to help property buyers find their ideal homes and investment properties from the comfort of their own living rooms. In spite of all this, buyers’ agents are quickly becoming an irreplaceable sector within the real estate profession. Lack of time; lack of stock and escalating Sydney property prices mean that buyers’ agents are here to stay!