Buyer’s Agencies are one of the fastest-growing sectors in Australia, but how do they work and what is the benefit for property buyers.
In this article, we focus on the 5 types of buyers who use a Canberra Buyer’s agent for property purchasing in Australia’s capital city.
We also focus on the real estate boom in Canberra and how Canberra buyer’s agents are a go-to with real estate prices on the rise.
With buyer’s agencies on the increase throughout the country, their services have diversified in recent years not just to be a buyer’s advocate Canberra but to offer different varying levels of service at different prices and fees.
With this has come diversified buyer categories whom each come with their own unique needs in the property purchasing market.
As we know, very few properties are alike, and almost no buyers are alike. However, both have a degree of similarities. Along the way, there have become defined types of buyers in Canberra in the recent past.
Which category applies to you?
1 – I’m a professional – And I don’t have the time!
Where does all my time, go? I can’t believe it’s Friday. I haven’t finished the consignment, I’m supposed to viewing properties this weekend, I just don’t have the time!
The demands of work can be the Achilles heel for many potential buyers looking for property in Canberra. It’s not just finding the time to view property in Canberra; it’s also the time to try and educate and subsequently keep up with the property market itself.
Buying a property in Canberra or buying a house in Canberra cannot be taken lightly in today’s market, it’s moving fast, getting more expensive and is more cut-throat than ever.
More and more professionals are seeking the services of a Canberra Buyer’s agent.
For a busy professional whether, single, married or with a family comes with distinct benefits.
A Canberra Buyer’s agent will significantly reduce time spent on:
- Cost Analysis
- Analysis of the neighbourhood
- ROI potential
- Relevant transportation routes you require
- General area information
A Canberra buyer’s agent knows areas inside out. They know precisely what a property is worth. They advise what kind of financial upside you will see in five to ten years and have access to potential ‘Off-market’ listings, which can substantially reduce time and also price points when buying property in Canberra.
2 – First Home Buyers Canberra
With bank interest rates today so low, you’ve probably been saving for years to finally be in a position to be buying a house in Canberra. For first time buyers Canberra, just getting your foot on the first rung of that property ladder is frustrating at best!
After many years of saving for that deposit, you should look to seek professional advice as this is one of the most significant investment decisions you’ll ever get to make.
Many seek to ‘rentvest’ to seek an ROI, and it is not their primary residence while still renting themselves.
Whatever your goals are, you need professional advice when property purchasing and the help of a Canberra Buyer’s agent. They will provide you with all the information and assist in hard but fair negotiating on your behalf and ensure there are no clauses in the small print at the end.
The Female Market
A growing marketplace in Canberra is the female market. For some time, savvy women have been walking their own path. Women are now successful, smart investors and are becoming a lot more understanding of the pluses and minus of property in Canberra.
Recent trends show women are investing more and more by themselves but also seeking the advice of Canberra buyer’s agents.
Without trying to generalise, men have a trait of wanting to do things by themselves and feel they can handle negotiations and know the marketplace. Though the industry is seeing more and more women using buyer’s agents not just in the city but ACT buyer’s agents throughout the state.
The term ‘The Downsizers’ are classed as being asset-rich, and experienced. The stereotype is usually the age bracket transitioning towards retirement, having already reached the majority of their property goals having already built a family.
Downsizers tend to be cautious and considerate when it comes to buying property in Canberra. Primarily if the children have grown up and are at university or in the working system, moving from a large family home to a smaller property in Canberra is a sensible lifestyle and financial choice.
By engaging a Canberra Buyer’s agent, downsizers now have a myriad of options that were not open to them before. These are the most common group to look at Canberra property auctions and enlist the use of an auction bidding agent. So working together they can be at auctions but leave the bidding process to the buyer’s agent and subsequent firm but fair negotiations and bartering.
Many people that have seen the opportunity to move to buy property in Canberra, maybe due to Sydney and Melbourne being overpriced, tend to feel a little out of place as is the case anytime you move to a new city.
Relocating is already a stressful endeavour without the added pressure of getting around and then trying to understand the ins and outs of buying property in Canberra.
Many people realise that a professional Canberra buyer’s agent is your partner, not just in finding you a property in Canberra and negotiating property purchasing but also helping you to settle in at the same time.
Introducing you to friends, networking events, recommending places to go with the wife, the best restaurants or even recommending good reliable builders and mechanics, for example can be all part of the service.
One of the most critical aspects when choosing a Canberra Buyer’s agent to work with is at the start, you will have a thorough one-to-one where they will want to know everything about you. What you want, what your budget is, what timeframe you have, but also about you.
That is the time for you to build rapport as the process could be a few weeks or months, and there may be a few disappointments along the way.
So it’s vital that you build a friendship during this time as at the end of the day this person could be setting you up with the home of your dreams if you are a first-time buyer Canberra, or be the vital link in the chain to finding your retirement home.
Canberra buyer’s agents are popping up everywhere as new massive developments are now happening in Canberra, the market is growing, the prices are moving, and they offer many services unbeknown to many.
From being an auction bidding agent at Canberra property auctions to helping you settle into life in Canberra, they will ensure you don’t pay over the odds. I assure you that you will find the right property in Canberra quicker than you could on your own if you are inexperienced in the market. My advice is to find a good one and never look back!