5 Ways Buyer’s Agents Can Help Sales Agents
Buyer’s Agents are an integral part of Queensland’s real estate industry, becoming more widely recognised and utilised in Queensland every year.
Savvy buyers recognise the benefits of using a buyer’s agent and astute sales agents have also caught on to the benefits of working closely with buyer’s agents. Buyer’s agents can help sales agents do their job more easily and can provide valuable assistance in many ways.
Here are some of the ways that forming and cultivating relationships with buyer’s agents can benefit your business:
- A valuable sounding board
Sales agents who invite buyer’s agents to property pre-launches and to pre-market inspections can gain insight and feedback from a specialist who is looking at a wide range of properties every day from the ‘buy-side’ perspective.
Buyer’s agents can provide honest feedback on property that can be beneficial in the pre-market phase. I have strong relationships with a number of sales agents and I believe buyer’s agents and sales agents should work productively together to connect buyers and sellers.
Buyer’s agents can be good sounding boards for all things property including price.
Recently, at a pre-launch, a sales agent asked my opinion on a property’s price as he was uncertain in this transitioning market if the price he had set was achievable. I was able to give him feedback and reassurance on that matter.
Having an open line of communication with buyer’s agents can provide your vendors with early feedback helping with price expectations.
- Access to qualified buyers
Buyer’s agents work with qualified buyers who have a need to purchase. They aren’t window shopping, they are active buyers who have paid a retainer. A buyer’s agent has spent time ensuring their client is qualified, up to date on current market conditions and prices, and ready to act when the right property is matched. Having good relationships with buyer’s agents gives you access to these qualified buyers.
- Kick-start your sales campaign
Arranging for a group of buyer’s agents to view your property before it goes to market is a way of creating competition early within your sales campaign and could trigger momentum for offers to commence.
- Free promotion
Buyer’s agents are often happy to tag and promote properties they inspect across their social media. Having good relationships with buyer’s agents can attracting more eyes to your listings.
- Easier transactions
Negotiating and putting a deal together with a buyer’s agent is much easier as buyer’s agents are experienced in doing so. Buyer’s agents speak the same language as you and have a strong understanding and knowledge of value and the current market. If you are transacting with a buyer’s agent you don’t need to run through the sales process step by step as buyer’s agents are also qualified real estate agents who hold a licence.
These are some ways in which sales agents and sellers can benefit from engaging with buyer’s agents. Forging relationships with buyer’s agents can make the transaction a better experience for all involved and working with them can ultimately add value to your business.
Jayne Robbins is owner of The Informed Buyer.