Combating the influence of sales agents
March 10, 2014 / Written by Rich Harvey
By Rich Harvey, CEO, propertybuyer.com.au
It's easy for home buyers in Australia to forget that not every real estate professional has their best interests in mind.
Sales agents can certainly help you buy a house in Australia, but at the end of the day, they work on behalf of the seller.
It's not as if sales agents are on the hunt for inexperienced buyers to take advantage of, but their number one goal is to produce a good result for the seller, not the buyer. In fact, they are legally obligated to do everything they can to serve the interests of the seller.
Part of their job is to influence buyers in a way that will better serve their goals, and much of the time this involves using strategies that will cost buyers more money.
The tricks of the trade
There's no shortage of strategies sales agents can use to influence buyers. Creating a sense of urgency is chief among them. If you feel like you must make a decision immediately or lose out, chances are you won't give your purchase the time and attention it deserves.
Another method sales agents use is trying to illustrate how in demand a property is by arranging viewings with multiple buyers. Not only can this help boost the sales price through more bids, it can also leave buyers feeling the threat of competition, prompting them to move quickly.
Staying smart
Whether you're buying a house in Australia for your family or are looking to invest, it is important to understand how moving quickly and gaining an edge over the competition can benefit you.
However, it's just as essential to not rely on sales agents as your sole source of advice and assistance.
By hiring a buyers agent, you can combat the influence of sales professionals and make sure you have qualified help in your corner. Buyers agents work strictly on your behalf, and can assist with everything from providing expert advice and negotiating with sellers to bidding for you at auction.
