Who generally uses a Buyer’s Agent?

Every serious buyer should use a Buyer’s Agent when purchasing a primary residence or an investment property. Our clientele consists of locals, out-of-state purchasers, expatriates and people in the public eye. Typically our clients are time poor, unable to attend inspections, and/or they’ve been left frustrated by the experience, usually having spent many months and hundreds of hours having missed out on one or more properties. Due to our affordable pricing structure, we work with buyers who have a variety of requirements, such as first-time buyers, those looking to upsize or downsize, portfolio builders, and buyers of prestigious properties.

Do you have access to properties that are ‘off-market’ or ‘pre-market’?

Yes. At the time of writing, approximately 70 % of the properties that we are purchasing are ‘genuine’ off market or pre market opportunities, completely unavailable to the public. Agents tend to advert ‘off market’ listings these days, however we get to see these listings 3 or 4 weeks prior to the confusing ‘off market listing.

Over the years we have built excellent relationships with selling agents and work diligently to locate off-market prospects (properties not advertised on real estate platforms) that meet our clients’ requirements. In addition to “off-market” prospects, we often receive pre-market listings, which provide us with access to properties before they are posted on the general market. This typically occurs when the properties are being photographed or being prepared for market and it affords us a great opportunity to get a head start on the market, complete our due diligence, and position our clients at the front of the line, giving them a significant advantage in securing the property early in the campaign.

Is it expensive to hire a Buyer’s Agent?

In most cases it is expensive, however here at SP Property Buyers we made the decision to make the costs affordable with a fair priced fixed rate fee structure. Compare our fees with the way in which our local competitors charge on our fees page www.spbuy.com.au/fees

How long will it take you to locate a suitable property for me?

At time of writing, our average ‘Engage of service to Exchange of contracts’ is approximately 5 weeks. This timeline varies based on the sort of property you wish to purchase, the available inventory, and the intricacy of your request. We discuss these expectations beforehand so that everyone is on the same page. Most clients experience daily communication and those regular discussions ensure synergy.

Why pay a Buyer’s Agent when I can do it myself?

A knowledgeable Buyer’s Agent will not be impacted by the same emotions and lack of expertise as the majority of purchasers. Our Buyer’s Agents have industry expertise, relationships built over years and in some cases decades. We understand the real estate market since we are immersed in it on a daily basis and we’ve all been Real Estate Agents in the past. We can swiftly determine what constitutes a quality property, acquire access to “off-market” and “pre-market” properties, properties that you simply can not access without being a Licensed Real Estate Agent. We advise you of the property’s genuine market value, and save you a substantial amount of time and stress with our experience. We are adept negotiators who know how to deal with selling agents and circumvent their sales strategies. Too often, inexperienced purchasers will either acquire the wrong property that does not match their demands, or they will overpay owing to their lack of negotiation experience when up against skilled selling agents. We are dedicated to representing purchasers so that they do not encounter either of these situations.

What is the difference between a Buyer’s Agent and Real Estate Selling Agent?

Buyer’s Agents do not sell real estate. Buyer’s Agents are independently retained and compensated by the buyer in order to operate on their behalf. Real estate selling agents are employed by the seller (vendor) and are required by law to secure the highest feasible sale price for them. While they are permitted to assist purchasers, they are legally required to represent the seller. The duty of a Buyer’s Agent is to secure (and typically source) property at the best feasible price for the buyer client. The fundamental difference between a Selling Agent and a Buyer’s Agent is the parties they represent, as an agent cannot act for and collect compensation from both parties in the same transaction.

How many properties do you buy?

Due to the nature of the industry, some months we buy more properties than in others (such as January or July). However we tend to purchase at least one property every week. The most properties we have bought in a single week is four. Since we restructured our fees, we’ve increased the number of transactions by four fold. Now we are affordable to most, so more people say yes to our service, therefore we buy more often. This has had a massively positive impact on our industry relationships which has had a massive positive impact on the sheer number of off market opportunities presented to us.

What happens if you have a client with the same brief?

Due to the upfront discovery we complete with each potential client, we uncover all the facts which allows us to determine if a potential new client has the same brief as an existing client. At this point the potential client is given the option to wait behind our existing client, or decide to not take up our service. We take a very high moral position here. However, as we traditionally purchase within 6 weeks of engagement, it is extremely rare that this scenario ever occurs.