Yes, it is true, the market is shifting from a strong sellers’ market throughout 2020 into early 2022, into what now seems to be a buyers’ market. So, is there still value in engaging a buyers agent?
During the frantic sellers’ market, stock was extremely low and in high demand. Property was moving quickly, often within a matter of days and plenty of property buyers were missing out and starting to feel extremely frustrated.
So, it was a time our local markets saw many Buyers Agent putting their skills to work and securing a lot of property on behalf of clients.
For those wondering ‘what is a Buyers Agent?’ read on below…
A Buyers Agent is an expert property buyer which finds and secures the best home for you, at the best price with the best terms. See our full blog here on ‘What is a Buyer’s Agent’.
Buyers Agents have many value adds for property buyers, some which include:
- Strong and established agent relationships
- Getting access to more stock than general property buyers
- Expert local knowledge to help guide you to the right locations
- Experienced negotiators with proven results
- Being able to identify red flags quickly when inspecting or completing due diligence
Buyers Agents help property buyers in a sellers’ market by getting early access and help purchase homes quickly. Speed is everything.
Buyers Agents use their established agent relationships and ability to place offers with more attractive terms than general property buyers. They basically gave their clients an unfair advantage.
So, you may be thinking, if the market has changed from a sellers’ market to a buyers’ market, what value can a Buyers Agent add?
During a buyers’ market we see:
- Days on market increase
- Vendor discounts increase
- Increased stock levels
- Less auctions and many selling prior
- More B and C grade properties
Read our blog on ‘Is the Central Coast market cooling?’
It is a time many general property buyers think, ‘why don’t I just give it a go’, ‘there aren’t as many buyers and stock levels are increasing’, etc.
Now the truth is, a good Buyers Agent should add more value in a buyers’ market than a sellers’ market. Other than relying on their relationships and speed, there are now many other reasons such as helping educate you on the market, providing in depth knowledge of areas down to the street level, inside information about reasons for sale, quickly identifying red flags and most importantly provide you with the confidence in your decision making.
Here are a few other reasons why Buyers Agents are move valuable in a buyers’ market:
- They can negotiate a better sale price and terms than general buyers. Saving you 10’s, if not 100’s of thousands of dollars
- They have access to more A Grade properties than general buyers
- More visibility to upcoming stock to help decision making
- Unlock opportunities you may initially think are out of budget
- Better market and local knowledge to help make informed and confident decisions. It is important to know that insulting offers will not achieve anything in a buyer’s market
- Sort through and quickly rule out B and C grade properties to save you wasting your time inspecting unsuitable properties
- Identify ‘red flags’ that ensure you purchase market resilient properties
They will remove the overwhelm and uncertainty, allowing you to move with more confidence than general buyers. This ensures you make educated decisions at the time.
If you would like to discuss how we can add value to your property journey during a buyers’ market, please reach out to our team for an obligation-free conversation.
It is important to know that a Buyers Agent only works with specific property buyers. If you are a buyer that is:
- New to the area and does not know much about the Central Coast, Lake Macquarie or Newcastle
- Does not have established agent relationships
- No education on the local property market and unsure about it
- Has been looking and on their own purchasing journey for more than 4 months
- Does simply not have the time to complete the research, follow up and conduct multiple inspections
We would love to speak with you and better understand your situation to learn if we can help. We are happy to share as much knowledge with you as possible, even if we are not right for working with each other.
If you would like to learn more about the Central Coast or have a suburb you would like to know more about, please reach out to our team as we would love to speak with you.
Our team of buyers agents are the most active in the Central Coast market.
The Central Coast is a great location for people looking to increase their quality of life. We can help match the perfect home to your family and lifestyle needs. Reach out now for a conversation with our team.