The Tangible Value Of A Buyer’s Agent
A list of 11 reasons why you
should hire a buyers agent.
A few weeks ago, I started working with some buyers who had been out looking on their own without a buyer's agent a year.
My four hours spent with them was rather revealing.
Here are some observations:
1. Buyers are becoming increasingly neighborhood agnostic. They are more receptive to neighborhoods they may not have considered in the past as long as convenience and time-saving still factors in.
2. They love BRAND NEW. The thought of a renovation – even for the most creative types – while appealing, is daunting in a world where you have to work lots to afford expensive homes. They value time now more than ever. Time is the last real luxury.
3. Busy, wealthy buyers, and even up and coming millennial buyers climbing the corporate or self-employed lander, have access to tons of information. Yet it would require way too much of their time – at far too great a cost – to have the insights and information an experienced agent has.
4. Buyers love data, but more importantly, they love INSIGHTS & DESIGN RECOMMENDATIONS.
5. The more I show, the more I know. Seeing, on average, 30 plus properties helps me weave a thought process on what buyers should be focused on. It also allows me more time with them to connect to their needs and wants. I think of it as an extended therapy session. The more time I have with my buyers – especially at the beginning – the more I connect with them, the more they talk and reveal what they truly like and want and the more I can show them what to watch out for and what not to offer on and the areas that have appreciation vs. the areas that are going flat.
6. I love to make it fun. Searching on your own can be daunting and draining. As a buyer’s agent in under half of my transaction, it’s a great feeling when I can make the process enjoyable.
7. I never sell or pressure. I don’t believe I can influence or push someone into a condo or home they don’t already want. I simply guide, educate and filter. Just like a good shrink, I help my patients make their own decisions by helping them take accurate inventory and understand all the parameters to their decisions. I give them the good and the bad, the upside and the downside and most of the time tell people what they don’t want to hear.
8. I love being honest, especially in stabilizing markets: When asked: “Will these apartments cost less in a year’s time?” I DO NOT answer: “No way!” I say: “Possibly yes, so we will negotiate and try to price in that possibility. If pricing doesn’t dip, you’ll build in additional value and if it does you will not lose out. But plan to keep the condo, home or property for the next 3-5 years.”
9. I listen like crazy. The little whispers reveal lots. What I want or think rarely matters, except when it comes to writing the offer, negotiating the price, discussing market trends, and guiding a buyer or seller towards their goals.
10. I love analyzing what other agents are selling and doing for their own exclusive listings: when I visit brokers open houses I get to see what they are saying/doing to market their property. This has great value to me, my clients, and potential sellers. I learn from their good and their bad.
11. I feed my client. When out and about, a bit of sugar or coffee perks everyone up! Haha – why not? Maybe some whiskey or a taco? Probably not. I did recently feed a client a taco from Guisados in DTLA with some habanero sauce, and he wrote an offer. Was it the salsa? I’ll let you decide.
I firmly believe that every home buyer should use the services of a professional, informed, intelligent agent. We as a community have an obligation to message this repeatedly to the consumer……just as loudly and boldly (yet elegantly) as some of our competitors tell them they don’t need one. As markets shift and carrying costs increase to advertise and hold listing for longer than the previous five-year average, discounters will shift their models. We’re already seeing the larger ones increase commission fees – because the true cost to provide real, measurable value to consumers cannot be discounted.
Like a good accountant, attorney, and doctor – you want the best working on your most infrequent transactions, transitions or emergencies in life. This is where I come in – and this is where I know I am the right agent. Need help? Like how I blog? Fill out the form below and let’s have the honest, unfiltered, non–salesy conversation you deserve.