COVID-19 has impacted all aspects of life, including how we buy property. The combination of the changing rules around real estate and the current market conditions means now more than ever having a buyer’s agent on your side is critical to help you realise your property aspirations.
Changing inspections rules
If you’re looking to buy property around Australia during these tough times when restrictions have been varied, it’s more important than ever to get an expert to inspect a property on your behalf quickly and efficiently, so you don’t miss out.
Throughout Australia, there are shifting rules around inspections and how auctions are conducted. If you’re not familiar with the latest rules and how they are changing, this can put you at a significant disadvantage in the property game. For example, New South Wales and Victoria presently have quite different rules surrounding inspections, and it’s important to be across how things progress in this regard.
Decisive action in required in the current market
Properties are selling quickly, on average, so our property market tools, research, and insights are invaluable in helping buyers make an informed decision on exactly where and what to buy.
In the current market, if you hesitate too much, you will miss out. So identifying the right property, in the right place, at the right price – and then carrying out the appropriate due diligence efficiently – is vital to making a successful offer to buy property this year.
Low stock levels
There are currently very levels of stock listings for buyers to choose from, and stock levels are running more than 25% lower than the current five-year average. While some vendors have been prepared to bring their property to market, this is traditionally a quiet time of year in the lead up to the spring selling season, and there are more willing buyers than stock available for sale.
As a result, total listings across the capital cities are currently tracking 27% below their five-year average, so paying a fixed fee for service to buy quickly makes economic sense.
In the current market, even older and aged listings are clearing quickly, which is the sign of a strong market, so in popular locations, there’s not much choice out there for buyers at the moment. In particular, we find that family-appropriate housing in the popular and desirable middle-ring capital city suburbs is very competitive. And there are numerous regional markets in the desirable lifestyle locations where stock is very tight.
Trying to do everything yourself is a false economy in this type of market
With the uncertainty around COVID-19 and when restrictions will be lifted, and the expectation that new listings will remain muted in Sydney and Melbourne for some time to come, buyer’s agents put buyers’ at a great advantage over most other market participants.
Buyer’s agents often charge 2% to 3% of the purchase price for their services, which adds to the cost of buying, especially in a rising market. BuyersBuyers charge a lower fixed fee for our buyer’s agent service, which gives you full transparency and ensures that we are working only in your best interest as the buyer.
BuyersBuyers is the only national network of buyer’s agents in Australia
Our buyer’s agents are well connected in their local areas, allowing them first access to new listings as they come online. Still, they can also access re-market or off-market opportunities, which the average buyer never gets to see. It’s the vital edge that the buyer’s agent can bring to the table.
Trying to do everything yourself is a false economy in this type of market. Instead, using a professional buyer’s agent will reduce time, cost, and stress and get you the result you want.