How does a buyers' agent find your property?
November 7, 2014 / Written by Rich Harvey
If you're lower down on the property ladder and are considering investment in Sydney property as a way of generating equity for the future, you've got a huge range of properties at your disposal. With 38 local governments in the metro area and countless suburbs within these, there really is something for everybody.
But being spoilt for choice can make it hard to choose. Whether you want to focus on capital value growth or positively gear your property, there will be something to suit your needs - it's just a matter of getting the right help to find it.
Getting someone you can trust to guide you through the market is one of the most crucial elements of buying property, and qualified buyer agents are a great resource to turn to. By adhering to NSW Fair Trading laws and obtaining the required professional indemnity insurance, legal frameworks are in place to service your best interests at all times.
The buyer agent full search process takes stock of everything there is on the market, and even homes that aren't on the market. It's an extremely valuable process to have access to. Here is some of what it includes.
Knowing the city, knowing the suburbs
A good buyers agent doesn't just know the citywide market - they know the finer details of suburbs far and wide. If there are specifics you want near your property, such as a high school or particular bus route, a buyers agent will find it. Do you also need the property to be a three-bedroom house that will bring you positive rental yields? This can also be sourced by an agent.
This isn't just for property on the market, either, as some properties aren't listed at all - but this won't stop a buyers agent from being able to help access them. Intimate knowledge of the city means agents can guide you to the right suburb for the facilities and amenities you want.
Bringing the data to the negotiating table
Sometimes, properties can sit on the market for long periods, and a buyers agent harnesses this knowledge to boost your power at the negotiating table. For example, the median time on market for Double Bay, a luxury real estate location, is 103 days at the moment. This is a situation where an agent may be able to negotiate a lower price, enabling you to buy a house in Australia even more affordably.
By using figures from organisations like RP Data and Australian Property Monitors, we can also determine the median price of an area, and which way values and rental rates are heading. We can use this to find points in the market that will suit your needs excellently.
Check that your buyers agent has the right accreditation with the REINSW and Real Estate Buyers Association of Australia, and you'll know you are getting a trustworthy and efficient representative to find your property.