Engaging a good buyers’ agent is key for purchasers trying to navigate the complexities of the property market and the purchasing process. But what exactly does a buyers’ agent need to get the job done and stand out from the rest?
Jacque Parker, Director of House Search Australia and REINSW Buyers’ Agents Chapter Committee Deputy Chairperson, says having the right tools and mindset are essential for a professional buyers’ agent.
“In our fast-moving world and with ready access to information, buyers can become easily overwhelmed and confused about the property market and the purchasing process,” Parker says.
“Given it’s a significant amount of hard-earned money invested, it makes sense to have a professional representing them in what is often the biggest transaction of their lives.”
The Buyers’ Agent Toolkit
Parker says having access to essential data and the most up-to-date market information is an important part of the buyers’ agent toolkit.
“This includes using the most efficient cloud-based software available for CRMs and documentation – REI Forms Live is a good choice for agency agreements – and having systems, policies and procedures in place that streamline tasks.”
Parker suggests subscribing to property sales databases such as RPData Core Logic and Domain Pricefinder.
Michael Ossitt, STRAND Property Group Director and REINSW Buyers’ Agents Chapter Committee Member, says cloud-based systems are key tools for buyers’ agents.
“We use a cloud-based CRM system to track all our clients and strategic partners – including current clients, past clients and prospective clients,” Ossitt says.
“A good database allows a buyers’ agent to see at a glance who they are working with, who they need to follow up with and past clients they should keep in touch with.
“We have also recently implemented a new cloud-based system that allows us to track all the properties we are appraising and shortlisting for clients, so we can track their progress and share details with clients. The clients are able to log in and see our comments and information we have collated for them.”
Ossitt says buyers’ agents also need to have “systems and processes for everything”.
“Having standardised processes and checklists makes sure you don’t miss anything and allows you to work through the buyers’ agency process step-by-step.
“At any given time in a client’s search, you know what you have done and what needs to be done next.”
Buyers’ Agent Qualities and Skills
When it comes to the most valued skills of a good buyers’ agent Parker points to the ability to work with different personalities as well as some other key qualities.
“Being well-organised and an efficient scheduler will pay off, as juggling inspections for several different clients takes effort, planning, and diligence. You also need to be opportunistic at times and be able to adapt.
“Creative problem-solving is something that becomes important especially in negotiating or when timeframes are tight, and decisions need to be made.
“Remaining cool, calm and collected is also an essential component of what we do. It’s not always easy dealing with millions of dollars’ worth of assets, while also juggling the sometimes-unpredictable levels of emotion associated with buyers.”
Ossitt rates having a high attention to detail as an important trait in buyers’ agents, as well as, “being personable”.
“Real estate is a long-term commitment and building relationships that last is critical. I believe being a down-to-earth person and approachable is key to ensuring that you can work with anyone you come across,” Ossitt says.
“I’ve heard negative comments about buyers’ agents coming in all guns blazing and getting sales agents offside, to then burn their bridges with them. This is not a great approach to building good professional relationships with others in the industry if you want to last the distance.”
What are some key strategies and tools you use in your role as a buyers’ agent?
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