When someone buys a property, everyone can see and feel the end result – that is, a tangible real estate asset and a place to call home.
The outcome is applauded, with very little thought often given to how the buyer managed to even get there.
Sometimes, the road to success was so twisty, stressful, and down-right unpleasant, that the buyer doesn’t want to ever think about it again.
The same sort of narrative can be applied to the fundamental roles of buyers’ agents, which are becoming increasingly popular in Australia for good reason.
What I mean is that buyers’ agents are generally known for the outcomes that they deliver for this clients which, of course, is right and correct.
This can be securing a home for someone prior to auction day, which may have resulted in an epic three-day negotiation when it failed to sell under the hammer without their assistance.
Or perhaps it is finding their clients a truly hidden gem off-market through their solid agent network that the average punter would never have known about.
The product and the price are the most celebrated part of any deal or transaction, sort of like the “reveal” in one of those renovation “reality” shows.
However, what doesn’t get much airtime, and should in my opinion, is the process as well as the role that a good buyers’ agent can play in even getting their clients to the negotiation table in the first place.
The most professional and experienced buyers’ agent have developed soft skills and emotional intelligence that not only make all the difference to the outcome for their clients but can also be the most demanding part of a buyers’ agent’s working life.
In my view, the very best buyers’ agents not only know property, but they are also experts in listening, communication, and have superior levels of empathy as well as a warm and genuine nature.
A key element of what an excellent buyers’ agent does is to wear many hats throughout the process to ensure that their client’s individual needs and wants are being heard and being met where possible and practical.
That means that on any given day, I could be playing the role of coach, motivator, independent arbitrator, counsellor, sounding board, and even bad cop sometimes!
Professional buyers’ agents and Qualified Property Investment Advisers (QPIA) like myself always adopt a tailored approach to their clients that address their individual needs.
Depending on the client, this means that we need to adapt to the things that are the most important to them during a property purchase. For example, some clients want lots of details, while others require few; some clients want emotional support and others want the process to be as easy as possible for them. Likewise, some clients want to be back-seat drivers and others want to hand over most of the process to you as their buying expert.
Every day of the week a good buyers’ agent will likely be wearing a different hat depending on the unique requirements of their clients, including the following six:
1. Independent voice of reason
A professional buyers’ agent will always act as a voice of reason for their clients who perhaps can’t agree on a property search brief.
This is commonly a couple who are not on the same page because they have different, ideas, views, or experiences.
Providing an independent viewpoint in these situations can make the difference between purchasing a property or not at all.
2. Truth teller
Every one of us dream about owning certain types of properties in desirable locations, however, while dreams are free, real estate is not.
This means that we often have to be the one to politely tell our clients that their thinking is a little flawed or unrealistic.
One of the most common examples of this is being the truth teller with a client who just doesn’t have the budget to buy in a particular suburb and will need to consider other locations.
Of course, this is where our emotional intelligence is the most valuable to our clients as well.
3. Property know-how
We also need to be adept at managing a client’s “love” of a property they have found online themselves, when that property is problematic, or the price is over-the-top.
Of course, this conversation requires tact, respect, and superior communication skills so that our client understands that it is not them that we are picking holes in, but rather an inferior property that has been marketed as something else entirely.
A similar situation is having to prevent a client purchasing a C-Grade property in the middle of a property boom, because their fear of missing out has over-ruled their common sense.
4. Expert guidance
Many first-time homebuyers are nervous because of the big financial commitment they are about to make.
A professional buyers’ agent will have the skills and experience needed to provide guidance and advice every step of the way, including assisting them to make an offer on a property with minimal stress.
5. Straight and narrow
Property is one of the most newsworthy topics out there but some of the stories in the media can be alarmist and cause unnecessary stress for potential property purchasers.
A good buyers’ agent can help to shield their client from external noise, such as click-bait media, but also unwanted input from family and friends who may have low risk profiles, to keep a buyer on track.
6. Continual support
The very best buyers’ agents believe in continual support for their clients, including after a deal has been done.
Their clients are supported throughout the entire process – from engagement to property selection and negotiation to settlement and beyond – so they feel satisfied with the outcome and can move into their new home stress-free and, above all else, happy.