5 Things Buyer's Agents Want Selling Agents To Know
For me, working in the real estate industry has certainly been a roller coaster ride and if you’re a fellow agent reading this then I’m sure you would agree.
For 18 years now I’ve watched this industry evolve from the old cardboard window cards with the glued on kodak photos to the live streamed Auctions where buyers can place bids from around the globe.
Boy have things changed with the rise of technology and now with the likes of social media, apps and the internet, it’s players like realestate.com.au and B4 real estate that are setting the stage for deals to be done quicker and with greater ease.
Let's agree, Buyers and Sellers have never been more connected with property than they are now, and as a real estate professional working in 2017, it sure makes for an easier working life.
BUT WITH ALL THIS CHANGE, AND SOME WOULD ARGUE, IMPROVEMENT, THERE IS STILL ONE THING THAT IN MY EYES HAS REMAINED CONSTANT AND HAS NOT CHANGED FOR THE BETTER - THE BURDEN OF MISUNDERSTANDING THAT OUR INDUSTRY CARRIES.
Real estate agents have long been the scape goat for sellers who didn’t get their way and buyers who missed out, and it’s not that it’s the agent’s fault.
Well, not always I would like to think!
It’s likely the way in which the salesperson communicated the outcome to the parties that was the underlying motivator behind these misunderstandings that seem to shatter the already tarnished image of the real estate agent and real estate industry.
AND NOWADAYS WE HAVE ONE MORE GROUP TO ADD TO THE MIX - THE BUYER’S AGENTS.
Ahh yes, the Buyer’s Agent or Buyer’s Advocate or Property Strategist or whatever you like to call us.
WE’RE THE AGENTS ON THE OTHER SIDE OF THE FENCE.
And even with technology making it a lot easier to connect Buyers with Sellers and facilitate property transactions easier, the need for a professional representative on the Buyer’s side has undoubtedly seen a rise in recent years.
These days, we (Buyer’s Agents) are popping up everywhere, and it’s independents like me who have witnessed this shift in Buyer perception over the more recent years, and the reality is, more and more Buyers are seeing the advantages in working with a Buyer’s Agent when buying property.
IT’S NOW BECOMING A NECESSITY IF YOU WANT A BETTER DEAL AND LESS STRESS THROUGHOUT THE PROCESS OF BUYING REAL ESTATE.
Perhaps even one day soon, it may just be the norm to have professional representation on both sides.
BUYERS WITH BUYER'S AGENTS AND SELLERS WITH SELLING AGENTS.
And so opens the door for a new breed of real estate agent, and a newly formed dynamic within the industry.
SELLING AGENT VERSUS BUYER’S AGENT.
Working as a selling agent for many many years before becoming a Buyer’s Agent has put me in a unique position to really understand this newly formed dynamic that exists between Selling Agent and Buyer’s Agent.
AND IT'S NOT EXACTLY A MATCH MADE IN HEAVEN.
What I’ve found is that not only are selling agents misunderstanding our role in the marketplace, but many of them are unknowingly placing themselves at a disadvantage when it comes to working with us.
BUT YOU KNOW WHAT, I GET IT.
Anything new is never met without the odd hiccup or misunderstanding and so as a Buyer’s Agent wanting to play at the highest calibre in the industry, here’s what I need selling agents to know so that we can ALL move forward in the best interests of our clients, our careers and heck, even our own sanity.
HERE ARE MY TOP 5 NEED TO KNOWS…
1. WE’RE NOT HERE TO TAKE YOUR COMMISSION.
A few years ago I called a Selling Agent to enquire about a property that I felt was suitable for one of my clients but after putting the phone down after the call, I got the distinct feeling this agent didn’t want to do business with me because she thought I wanted a conjunction and would lose half of her commission.
Maybe I was wrong, but just to clarify, we’re not in it to conjunct.
Our clients (the Buyers) generally pay us in the same way you are paid - via a commission or flat service fee - so rest assured, we’re not about taking a slice of your commission.
In fact, we’ll do half the job for you! All that running around for the Buyer that you normally do? We’ll take care of this.
After all, it's our job.
2. WE GET FLOODED WITH PROPERTIES DAILY.
As Buyer's Agents, we generally don't just farm one patch. We're all over the place! It's not uncommon for me to be in Camp Hill, Bulimba, then across the Story Bridge to New Farm (yes that speed camera loves me!), back to Coorparoo and then flying through the tunnel to Kedron, all in one day!
The area we cover is far and wide and we're inspecting properties from, in my case, all over Brisbane.
If I don’t get back to you straight away about that property you sent me, or even at all, then it’s not because I don’t appreciate you thinking of me or that I’m not interested in hearing from you. It’s because I’m inundated with properties every day from agents from all over Brisbane, and I need to focus my efforts on the properties that WILL work for my clients, rather than the ones that won't .
But this doesn’t mean I want you to stop emailing me properties.
I just want you to understand that I may not have the time to reply to every email I’m sent. I do my very best to get back to every agent who contacts me, but sometimes as I know you can appreciate, some slip through the cracks.
Please accept this apology in advance!
3. WE WORK WITH OUR BUYERS DIFFERENTLY TO THE WAY YOU WORK WITH YOUR BUYERS.
We don’t “sell” to our clients. What do I mean by this?
As a Buyer’s Agent, it’s our job to help our clients (the Buyers) make better decisions when choosing the right property, and this means, we’ll reject many properties over the course of working with our clients, and possibly even advise our clients NOT to buy a certain property.
When I was a selling agent working with Buyers, I did my best to “sell” them on the property I had listed. I would point out all the positives and good stuff about the property, and downplay the negative points where I could.
After all, my job was to find a Buyer for my Seller's property.
But as a professional Buyer’s Agent, it doesn’t work like this. Sometimes if a client is excited about a property, it will be me who is advising them AGAINST it if I feel it is not the right opportunity for them.
4. WE TOO GET REJECTED, THROWN UNDER THE BUS AND FRUSTRATED WITH OUR CLIENTS WHEN THEY DON’T LISTEN TO US.
Yep, we sometimes get the bum steer from our clients too.
This is just what comes with being in real estate and working in a service industry. When you’re dealing with people and that human element as we like to call it, not everyone is going to be happy all the time. Unmet expectations, unrealistic goals and clashing personalities are all a part of it.
In other words, we feel your pain in a similar way when things don't go as planned!
5. WE WANT TO WORK WITH YOU.
Some of the best people I know are real estate agents, and there’s nothing more that I love than having fat chats with a like-minded agent who gets it, and gets ME.
Working together with a fellow industry professional to help our Buyers and Sellers manage the buy / sell process and essentially help them along the way in their next life stage, or to achieve that goal of buying property is a fantastic experience.
YOU KNOW THAT SAYING, TWO HEADS ARE BETTER THAN ONE? THAT APPLIES HERE.
FOR ME, THE PAST THREE YEARS WORKING AS A BUYER’S AGENT IN BRISBANE HAS BEEN A DREAM.
Although I’ve been in real estate now for going on 19 years (yes 19 years!!!) I feel that making the move from Selling Agent to Buyer’s Agent was one of the best things I did for my career.
I love every part of it.
It’s not for everyone, but I can’t help but feel that I’ve finally found my niche.