Buyer's Agent Advantage - Offers Are Viewed With Credibility

Are there any advantages when making offers for properties through a buyer's advocate (or buyer's agent)?

In a fair world, the answer should be "NO". But in practice and through experience and based on feedback from the sales agents and clients, it seems to indicate offers presented by a buyer's advocate are viewed more favourably and they have a higher standing amongst all other offers.

How do Sales Agents Receive Offers from Buyers Agents?

First, let's hear from the real estate sales agents

Throughout our years of property buying experience, our team at Concierge Buyers Advocates has bought hundreds of houses. In the past 5 years alone, we've bought almost $1 billion worth of houses. On average, we inspect 50-100 houses, and buy an average of 1-2 properties per week.

Some of the feedbacks our team of Buyers Agents received from sales agents include:

we know buyers' advocates like you don't sit around
your offer is not the highest, but is the most attractive
you guys know what you are doing
we love working with you. You make our lives so much easier.
very well and professionally negotiated.
your offer is so much more professional, then the others

The above feedback tells us real estate sales agents view our offers differently, and, often, in a good way. Of course, we do receive some negative comments, primarily because of the inexperienced, new buyers agents and black sheeps in the industry.

Let's try to explore why offers from buyer's advocates seems to be preferred.

Advantages of Having Property Offers Presented by Buyers Agents or Buyers Advocates

We love to know definitively why. But no agents will openly admit they prefer our offers over the non-represented offers. We suspect this is because it will be illegal for then to admit. They have to be seen to be equal.

However, let's try to try to explain this from 3 angles:

Our buyers are serious about buying. Buyers using buyers agents are so serious with buying properties efficiently that they invest in the services of a good buyer's advocate to represent and buy for them. It is very important to understand the psychology of the sales agent. Engaging a Buyer's agent tells the sales agent that the buyers are serious, and ready to purchase. They are serious enough to invest in the services of our professional Buyer's Advocate.
Professional Authority. Our Buyers Agents at Concierge Buyers Advocates abide by a strict qualification and on boarding process. Our upfront, no stringent qualification approach to being honest with our clients ensures we only accept clients who are serious and ready to buy. It is a fact that we reject more prospective customers than we accept their engagements. Buyers who are "just looking" will not be offered our services. Our onboarding process and consultative approach also ensures we know what our client wants, and our due diligence processes ensure the properties we shortlist and represent meets the clients' expectations and budget.
Sales agents also know our buyers advocates are not emotionally attached to the property we buy, and we are ready to walk away, if we cannot agree on the offer. This is something which NO home buyers can do. Home buyers are always emotionally attached to the house, and this makes them easy prey for the sales agents.
Sales agents are just humans. Humans being humans, loves the easy path. When they know they have a serious offer from a committed buyer, who has been independently qualified and ready to buy, why would they not support the offer, even if their offer price is not the most expensive? In a typical sales campaign, the sales agents would have received many other unrepresented offers, of varying qualities, and they know how difficult, troublesome and risky it is to work with those offers. Accepting unqualified offers are high risks to the sales agents. The risks of the offers falling through because of of insufficient budget, incomplete due diligence, last minute changes, is very disruptive. Accepting these offers means the risks offers falling through are high and this means they would have to start their marketing the property again.

Let's explain the Buyers Agent Advantage with this example:

Let's say you are about to demand $x thousand dollars from a rogue business partner. You can either personally write a letter of demand to the partner, or you can have the letter of demand written by a person with professional authority, usually a lawyer. Guess which letter carries more weight and which one will your partner take more seriously?

What does it show when an offer is presented by a buyers agent?

When our buyers advocates present an offer to the sales agent, they agents know the buyer has been independently qualified, verified and supported by another real estate professional. It is a professional and serious offer, the offer is reasonable (even if it is not the highest offer) and the buyer is ready to buy what they are selling. Plus, they know we will not hesitate to walk away from the offer, if we are unable to agree on the offer. The agent knows it is going to be an easy sale, and the only thing stopping their sale is them accepting our offer package. So they are often, more willing to negotiate and agree to the offer.

They can see their commission flashing before their eyes. They know getting their commission is going to be quick and easy, and when they are not prepared to let this opportunity slip away, they are more prepared to negotiate. They know their tricks are unlikely to work against another real estate professional, so they don't usually mess around with their excuses and stories.

Are offers from all Buyers Advocates Viewed in the Same Light?

We don't think so. Experience, integrity and reputation plays an important role in how successful the offer is likely to be. Low ball offers, usually from inexperienced / fake buyers advocates, definitely do not stand any chance in ANY market. Good or bad. Low ball offers harms the buyer's (and buyer's advocates) reputation in the property market.

Reputable Buyers Advocates like us take our reputation very seriously and we will never low ball our offers, but our offers are usually amongst the lowest possible to secure the property.

Afterall, we are in the business to help property buyers buy the property.

Is it expensive to engage a Buyer's Advocates to Buy a Property?

No, it is not. Our services start from a reasonable priced Negotiation and Auction Bidding service to a full fledge Search-and-Buy service.

The Negotiation and Auction Bidding service helps buyers get the best price for the dream homes and investment properties which they had found. We work with the buyers to negotiate and present offers or bid for the properties they are interested in. There are 2 reasonably priced packages:

Low Fees Property Negotiation packages

Low Fixed Fees Negotiation. For a low fixed fees, we will help you negotiate up to 3 properties.
No-win-no-fees Negotiation. If you are not getting any savings, you do not pay a cent*. Qualification criteria applies.

The Low Fixed Fees Negotiation and Bid service comes with a discounted upgrade to out full fledge service, should you decide that DIY house finding is too hard.

Get in touch to find out more.

Concierge Buyers Advocates