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Buyer's Agent [What They Do + Advanced Strategies]

Today I’m going to show you exactly how to get the most out of your buyer’s agent. 00:00 Buyer's Agent [What They Do + Advanced Strategies] 01:20 1. Getting The Most Out Of Your Buyers Agent 03:11 2. Off Market Properties 04:40 3. Distressed Sale For more info https://www.huntergalloway.com.au/ For home loan enquiries [email protected] Find Jayden here: https://www.huntergalloway.com.au/fre...   / mortgagebrokerbrisbane   https://www.huntergalloway.com.au/aut...   / jaydenvecchio   T: 1300 088 065 E: [email protected] Hunter Galloway: Mortgage Broker Brisbane Head Office: 3 Latrobe Tce Paddington QLD 4064 PO Box 841, Paddington QLD 4064 CBD Office: Level 20, 300 Queen Street Brisbane, QLD 4000 In fact, they're the same strategies Neil Jenman, a renowned real estate author, used to save $250,000! It’s estimated that only around 2.5% of property sales are done through buyer’s agents in Australia. For the most part, it’s because of agents like Frank Valentic, a previous judge on Channel 9’s popular TV show, the Block; who in 2016 was fined and suspended for six months after his company charged two customer $13,750 without providing services to justify the fee. There are so many cowboys like this, but don’t stress, because using these strategies will safeguard you against predators, helping you to avoid mistakes, which could cost you thousands. Advanced Strategy #1 How to get the most out of your buyers’ agent? Start by knowing exactly what you want out of the agent and where they fit in your buying journey. From there be specific with your search; your buyers agent should know exactly what you want, and the more detail you give them, the better. Once your expectations are both clear, it’s time to agree on the payment terms. Listen in, as this is by far the most important point in this video! Firstly, aim to pay nothing upfront except a small retainer fee of about $1,000; this will help you avoid the Frank Valentic dilemma. Secondly, rather than paying a fixed fee or commission based on purchase price; flip the script and negotiate based on the amount they save you. Typically this ranges from 15% to 25% of the savings, depending on your price rate. So in this case - the buyer’s agent would be paid between $11,250 to $18,750. This is what Neil Jenman did, and by using this same technique has saved $250,000! The reason this strategy works so well as it creates an incentive for the buyer’s agent to work in your best interest and get rewarded accordingly! Really making it a win, win! Advanced Strategy #2 Off market properties This is a big one! Getting properties off the market will save you heaps as the sellers won’t have to pay a real estate agent or advertising fees, which could be tens of thousands of dollars. Ultimately helping you save a bunch too! Side note - an off market property is a property that’s currently not for sale and typically sold directly from seller to buyer without intervention of a real estate agent. A friend of mine was looking to buy their dream home, they had been looking for over two years to no avail. Because what they were after was specific, they never seemed to find properties which met their criteria in the few suburbs they wanted to live in. So instead of going it alone, they decided to seek the guidance of a buyer's agent who specializes in buying properties off the market. Within 8 weeks the deal was closed and settled, they were over the moon as got a great price, found a home that met their specific needs and all the hard work was done for them! For buyers agent to find a property off market, typically this hard work! To uncover requires local knowledge, door knocking, letterbox drops, engaging in the local community. So to see if your buyers agent is able to help with this ask; ● What strategies have you used in the past to obtain off the market properties ● What would your game plan be for my property? ● Can you show me your track record in buying off market properties? Advanced Strategy #3 Distressed Sale These are as rare as hens teeth and really where a great buyers agent will shine! A Distressed Sale can be defined as a property which is sold in an urgent manner, where by the seller typically sells at a loss due to time constraints. These constraints vary from repossession to divorce. DISCLAIMER: This video offers no Legal, Financial and Taxation advice, and the information contained is general and does not take into account your personal situation. The Listener acknowledges, consents and agrees to the viewing of the content presented on the Channel is subject to the full Disclaimer (below) and agrees to be unconditionally bound by this Disclaimer. Full Disclaimer here – https://www.huntergalloway.com.au/you...