Life of a Buyers Agent
As a buyer's agent, there is a somewhat typical process for securing a house for my clients. Generally it involves several key steps from start to finish:
Initial Consultation. The process begins with an in-depth consultation with the client to understand their specific needs, wants, budget, timeframe, and preferences regarding location, property type, features, and amenities.
Needs Analysis Based on the consultation. The Buyer's Agent conducts a comprehensive needs analysis, taking into account the client's lifestyle, family situation, investment goals (if applicable), and long-term plans.
Property Search. Armed with a clear understanding of the client's requirements, the Buyer's Agent conducts an extensive property search, leveraging their industry knowledge, network, and access to various real estate platforms and databases. In my case this also includes door knocking in those specific suburbs that you may wish to move to. It’s tough, however it can yield great results as these are off-market houses. I also leverage my wider network to see what properties may be upcoming that meet your needs.
Property Shortlisting. The Buyer’s Agent creates a shortlist of properties that match the client's criteria, providing detailed information, comparative market analysis, and insights for each option. We run through this in more detail to make sure the properties meet the brief and eliminate some if required.
Property Viewings. The Buyers Agent arranges and accompanies the client on viewings of the shortlisted properties, offering professional advice and guidance throughout the process. In some cases the client may just wish that the agent does this and films some videos or hosts a video call.
Due Diligence. Once the client identifies a desired property, the Buyer's Agent conducts thorough due diligence, including:
Researching property history and sales data
Arranging building and pest inspections
Reviewing legal documents and contracts
Investigating zoning regulations and council plans
Negotiation and Bidding. With the client's best interests in mind, the Buyer's Agent negotiates the purchase price and terms, either through private treaty or at auction. Their expertise in negotiation tactics and market knowledge is crucial in securing the best possible deal.
Contract Exchange and Settlement. After successful negotiations, the Buyer's Agent facilitates the contract exchange process, ensuring all legal requirements are met and addressing any issues that may arise. They also coordinate the settlement process, including the transfer of funds and property ownership.
After-Sale Support. Even after the sale is complete, a good buyer's agent may provide additional support, such as recommending tradespersons, stylists, or property managers, depending on the client's needs. This is a service that our clients appreciate immensely. Some property down-sizers also wish for help to source holiday houses with the freed equity.
Throughout the entire process, the Buyer's Agent acts as the client's advocate, leveraging their industry expertise, negotiation skills, and market knowledge to secure the best possible property at the most favourable terms, while minimising stress and potential pitfalls for the client.
