If you've tried to buy a property lately you'd have noticed that stock levels are low…exceptionally low.
In fact, the market is about as tight as we have seen it in recent years in Australia.
It's tough out there for buyers to find the property they want, and when they do find one there are often so many other buyers around that prices are running hot.
Here are 3 ways that a buyer's agent can help.
1 - Market research and experience
Because buyer's agents are in the market buying property every day they are better qualified than anyone to have a handle on how the market is faring and operating.
We have access to unparalleled market research tools (you can access some for free on this website at the WeIntelligence section).
Just as you wouldn't try to fix your car engine without a mechanic, so it is with buying property…our experts can help!
2 - Decisive offers
An experienced buyer's agent can make sure that property buyers don't experience the dreaded 'fear of missing out' (FOMO) and dramatically overpay due to having no strategic plan.
The key to buying well in a hot market is preparation.
You need to have carried out your detailed market research, understand exactly what your budget should be able to buy, and make informed and decisive offers when the right opportunity comes along.
3 - Finding off-market deals (and pre-market properties)
When stock levels are as tight as they are, the ability to find off-market deals or 'silent sales' can be worth its weight in gold.
Buyer's agents have a great network of real estate agents and can often get access to properties that the wider public never hears about.
The reasons for selling off-market can be varied, but there will always be a certain share of properties which are never openly listed for sale.
A variation on this theme is 'pre-market' properties, which are due to be listed but are often presented to buyer's agents before the properties are listed to the public.
Buying professionals with great networks can bring through pre-qualified buyers and make transactions happen quickly, so will always get preferred access to some stock.
Good luck in 2021!
The buying environment is the toughest we've seen for some years, but the market is expected to be buoyant for some time yet, thanks to the record low mortgage rates expected over the next few years.
Good luck with your search!
Find out about our Affordable 10-Year Property Plan here.
And to find out more about our affordable property buying services here.