Here's a tip for home buyers short on time.
Not everyone is obsessed with real estate. And even if they were, few can claim expert knowledge about where to buy and how much to spend.
That's why professional buyers agents have made a mark in recent years. As a counter to traditional real estate agents who act primarily for the property seller, buyers' agents help home seekers with everything from researching properties to bidding at auctions.
Real estate sales agent Nicole Graham, 32, could see the demand for buyers' agents and liked the idea of representing the buyer instead of the seller. So, recently she jumped the fence and became a buyers' agent.
"People never go to court with only one solicitor on one side usually both parties are represented whereas in real estate the sellers have always been represented and the buyers have not," she said.
Ms Graham, now of Sydney Property Finders, has worked in real estate for 12 years, including five years as a sales agent with Di Jones Real Estate.
"The only selling we do is selling our services," she said. "My job now is presenting information to clients and giving them advice."
She said the work of a buyers' agent included finding and researching properties, advising about finance and helping clients negotiate the price or bid at auctions.
"People will say, 'I'm looking for a house in, say, Erskineville: I have up to $500,000 to spend am I likely to find it?' We can tell them if they are realistic," Ms Graham said. "We charge a small retainer in the beginning and we get paid when we find them a property.
"There might be 100 properties on the market in the suburbs they have nominated and we'll show them the best. We filter all the properties and deliver them a concise list."
As she is already experienced in the real estate industry, she understands the tricks and knows a lot of agents a big plus as buyers' agents have to be able to sniff out the sale of a property before it's listed.
One of the major things Ms Graham has had to learn is looking at properties with more critical eyes. "As a sales agent I always tried to look at the good stuff in properties," she said. "As a buyers' agent I have to be more critical and look at the negative aspects and think of the long-term ramifications for the buyers."
Although the hours are long she loves her job because of the contact with people one of the major reasons she entered the real estate industry.
She said the work of a buyers' agent was less stressful. "You are just using your knowledge base rather than having to sell a property within a time frame," she said. But the gratification of her new job was the same as her old one "satisfying clients".
Real Estate Institute of Australia president said buyers' agents were here to stay but said consumers must be sure they were dealing with someone experienced in the real estate industry.
"At this stage anybody can say that they are a buyers' agent, which isn't good enough because they are representing people in major transactions," he said. "We do believe that anybody engaged in property transactions should be registered or licensed appropriately."
aussieproperty.com has a professional Property Buyer Member in each state to assist you find your special property.
Follow the links below for your area of interest.
Sydney - PK Property
Melbourne - Domain Buyer Advocates
Perth - Hegney Property Advisors
Brisbane - Property Searchers
Tasmania - Buy Tas
