Not just for the vendor – making the most of estate agents
It’s not what you know but whom you know. This catchphrase rings true in many areas, including the property search.
Although real estate agents work on behalf of a vendor, a strong relationship with an agent can also reap significant rewards for a buyer.
From being among the first to hear about new properties coming onto the market to having access to off-market deals, being known to several estate agents is one of the best ways to ensure you land the property you are looking for.
A good real estate agent can also be a valuable ally in terms of market intelligence. They’ll have an extensive understanding of local property prices, demographics and trends – all useful in guiding you towards an informed purchase.
To get the best results, you should look to cultivate relationships with as many estate agents in your target location as possible. The more tips you can get the better. Moreover, contact with several agents will enable you to compare opinions, recommendations and prices – and to make the most informed decisions.
The best way to get on an agent’s radar is, quite simply, to get out there and introduce yourself. Just go along to open inspections and make yourself known to the agent on-site. Often, they will give you a follow-up call to gauge your interest in the property and this can be a great opportunity to outline exactly what you are looking for and to build the foundations of your relationship.
You can also visit local agency offices and introduce yourself to agents there.
Demonstrate that you’re serious about buying by knowing and outlining exactly what you’re looking for and arming yourself with a pre-approval so you can show you’re ready to pounce when the opportunity arises.
Remember, while most agents will work ethically and reliably, there are always a few bad eggs, so don’t waste time with agents who appear to be over-selling or untrustworthy. Instead, stick to those with whom you feel comfortable and have a good rapport.
Finally, never forget that an agent’s top priority is a good result for the seller, regardless of how strong a bond you may have developed. Act wisely, respectfully and strategically and you will increase your chances of securing that sought-after property dramatically.