How can Buyers Agents Help Buy Smarter in a Booming Market?
- Rayson L.
- Jan 8, 2022
- 4 min read
Updated: 2 days ago
A booming property market is a sellers' market where properties are being sold quickly, sometimes, before it is being listed or within hours of listing. It is the best market for sellers, where they have the upper hand. There is strong demand, and more buyers than properties available for sale.
With more buyers missing out on some good properties, many are getting frustrated and desperate. While most buyers start to panic and start cutting corners and start snapping up the next available property blindly, savvy home buyers have turned to the help of buyer's agents (also known as buyers advocates) to help them buy their properties better and, often, faster.
Who are Buyer's Agents?
Licenced buyers agents are licenced real estate agents whose role is purely to protect the buyers and their interests in buying the property. Independent buyer's agents can also help buyers outsmart the property market and avoid overpaying for their homes and investment properties. They are real estate agents who specialises in helping buyers buy confidently and quickly.
Why is Independent Buyer's Agent Important?
An independent buyer’s agent works exclusively for the buyer—not the selling agent, developer, builder, mortgage broker or referral partner.
That matters because property advice is only valuable when you know who benefits from the purchase. You will be surprised to know, it is very often, it is not the buyer.
An independent buyer’s agent should:
Represent only your interests throughout the purchase.
Assess the entire market, rather than steering you towards properties connected to a developer, sales agency or referral network.
Identify risks and weaknesses, even when that means advising you not to buy.
Negotiate without divided loyalties, using evidence rather than sales pressure.
Disclose fees and relationships clearly, including any commissions, referral arrangements or financial benefits.
Protect you from overpaying, unsuitable properties and emotionally driven decisions.
The biggest risk with “free” property-buying assistance is that the buyer may not be the real client. If the adviser is being paid by the developer, seller or another service provider, their incentive may be to complete a transaction—not necessarily to secure the best property for you.
A genuinely independent buyer’s agent is paid by the buyer and is accountable to the buyer. That clarity removes hidden agendas and allows the advice to remain objective.
Put simply: independence means your buyer’s agent can confidently tell you to walk away—even when everyone else wants the deal to proceed.
Buyer’s agents connected to sales agencies, project marketers, developers or property-selling businesses may have potential conflicts of interest. Their recommendations may be influenced by:
the properties they have available,
the dollar value of commission they receive,
the relationships they have to maintain, and
the sales quota they need to maintain to keep their jobs.
That does not automatically mean the advice is poor. It does mean buyers should ask a simple question:
Who is paying the adviser, and who does the adviser ultimately represent?
Any buyer's agent who are 100% independent and pro-buyer should be a red-flagged and treated as a sales agent. For simplicity, this article will only discuss the effectiveness of true independent buyers agents such as Concierge Buyers Advocates.
How can Independent Buyers Agents help in a seller's market?
In a buyer's market where there are more buyers than available properties, buyers agents have been performing outstandingly. How do they do that?
Buyers agents understand the property market well. They understand the dynamics between buyers and property, the demand, the buyer demographics, and the property itself. They know a good property and a good deal when they see one, and this helps them react to good property deals quickly and confidently. This is why they are able to react fast when new listings are available and recommend quality properties to buyers confidently.
Buyers agents also have good access to off-market listings. Good selling agents usually gives buyers agents the first dip in good property, before they list it. They know good buyers agents and good buyers advocates pre-qualify their clients, ensure their clients are suitably prepared to buy the right property quickly, when it's available. They also realise, because of the buyers agents understanding of the property market and the client's needs, they can sell their properties up to 3 times faster. Ie, it is easier to match their properties to clients represented by buyers agents as the offers are realistic.
How can Off-market Listings Help Property Buyers?
Off market properties are properties which are not openly advertised in the market. With less exposure, there will be less buying competition with these properties, and your chances of securing the property is a lot better.
How Important is Understanding the Property Market?
In a sellers' market, having a good understanding of the property market is very critical. It helps you identify a good property deal quickly, so, you can make the offer when you find a good property, before anyone else does. We've seen properties being sold within hours of listing. Thus, speed of response will help ensure you do not miss the opportunity.
Can Buyers Agents Negotiate in a Sellers Market?
Yes, while negotiating is almost impossible in a sellers market, buyers agents can help ensure you know what you should be offering for the property. The experienced ones will know where and how to find ways to help you pay pay top dollars for the property. At the very least, buyers Agents can help you appraise the property, provide a realistic value for the property and stop you from overpaying.
Can Buyers Agents Guarantee Discounts on Property Prices?
Definitely, it is a yes. But you have to be careful. We know some buyers agents will guarantee x% discounts. But with a catch... Get in touch to find out.
How can a Buyers Agent help Buyers?
Briefly, buyers agents can help:
you save time and reduce stress
you buy your property up to 3 times* faster. *Canstar report.
save on your rent, if you're renting, by simply buying your property faster
earn more, by buying your investment property faster and thus collecting the rents earlier
save over 16%, compared to when you are buying on your own
outsmart the property market
avoid inflated pricing
buy confidently and quickly
How can I get in touch with a Melbourne buyers agent?
Give us a call or submit call back request here.