Buyer’s Agent services – What We do
House Hunters AU Our Services – What We do!
No two clients, nor two properties are the same and we do not treat them the same.
Whilst our clients and their needs are different, the process is really simple – LEARN, SOURCE, HUNT. CHOOSE. CHECK. NEGOTIATE. BUY.
The problem is the choices or the lack of choices (SUPPLY AND DEMAND) in an ever-changing market and the many individual factors to consider. This can be overwhelming and that is why its great to have a buyer’s advocate on your side. After all, a seller has an advocate representing them and filtering buyers, the buyer should have an advocate filtering the properties, the agents, the locations and all the other criteria that comes with the process of buying.
Buyer’s are by nature emotive when it comes to buying property. They want to get it right, the right property at the right price. Asking friends and family for advice isn’t always helpful as their differing opinions can cause stress, confusion and even erroneous advice. A buyer’s agent works for you and is that voice outside your head that tells you flatly what you need to hear and not what you want to hear. This is of course, based on the initial discovery meeting where you tell us what you want and we make sure we deliver on your wish list.
We, at House Hunters, are experienced property buyers that focus on certain areas of Sydney where we have become specialists. It’s important to not only know what’s happening in the Australian market and the Sydney market, but it is even more important to have suburb and street knowledge because it does MATTER! There are nuances depending on proximity to parks, schools, transport, entertainment and many other factors. These factors are not disclosed to you by the selling agent and they affect purchase price and ultimately long-term value.
We genuinely love what we do – and what is that? We love finding that amazing dream home or investment and we love making our clients happy.
Essential Steps to Success
We always begin with a FREE DISCOVERY CALL. This can be in person or via Zoom.
You can book this by calling 1800 844 042 or online using our CALENDAR.
There is no obligation to proceed. The goal is to ascertain, if and how, we can work together to help you achieve your desired result. After this call you will gain more clarity over the next steps.
This call is about YOU and what you want to achieve and it is about US, giving you advice and honestly telling you if we can help and how we can help. If we can’t help, we can often refer you to someone who can.
If you decide to go ahead and engage our services we will then organise a STRATEGY SESSION where we delve further into your individual property wishes and formulate THE PLAN.
If we decide to work together, we will spend as much time as required discussing your wishlist and assessing your needs during the STRATEGY SESSION.
It’s important for us to understand YOUR goals. We delve into your property history, your property preferences (type and features), locational preferences, social activities, budget, lifestyle and long-term goals.
One client said that we are a cross between a PROJECT MANAGER and a THERAPIST. We are that best friend you can rely on telling you the facts and not what you may want to hear.
For this we need to meet with all parties to the purchase as individuals have difference nuances and all are important.
The goal is to PURCHASE PROPERTY WITH CLARITY, WITH VISION and WITH INSIGHT and with much REDUCED STRESS at the RIGHT PRICE.
After the strategy session, a summary document of intent is produced by us and agreed to before we set out on the property search.
Buyer’s must have their finances ready. Whether it’s a cash purchase or a loan facility.
Buyers who are ready to pounce are in control when the right property is presented.
If you need finance, we can put you in touch with one of our preferred Mortgage Broker’s if you don’t have one.
This step can be done before, during or after the Strategy Session but not before Property Search.
WHY IS FINANCE PRE-APPROVAL ESSENTIAL BEFORE THE SEARCH PROCESS
Finance pre-approval before buying a property is essential.
Pre-approved financing gives you a clear understanding of your budget. Knowing how much you can afford helps you narrow down your property search to homes that align with your financial capacity, saving time and effort. It prevents you from falling in love with a property that ultimately falls outside your budget.
Moreover, having pre-approved financing provides a competitive edge in a competitive real estate market. Sellers are more likely to favour buyers with approved financing, as it signifies commitment and reduces the risk of a deal falling through. Essential when multiple offers are presented to the Vendor.
Pre-approval also enhances your negotiating power. Sellers may be more inclined to accommodate your price negotiations, closing timelines, and other conditions when they are confident in your financial readiness. This can lead to more favourable terms and potentially save you money in the long run.
Additionally, pre-approved financing expedites the closing process, benefiting both you and the seller by reducing delays and uncertainties. It offers peace of mind, allowing you to focus on finding your dream home without the worry of financing obstacles.
Obtaining pre-approved financing before buying a property is a strategic move that not only simplifies the process but also puts you in a strong position to secure your desired home in a competitive market. It provides financial clarity, negotiation leverage, and a faster, less stressful closing experience.
After the STRATEGY SESSION, House Hunters produces the final and agreed to PLAN. We then take over the process of HUNTING (Property Search and Evaluation).
We will present properties to you, the Home Buyer, based on your criteria and your price point.
We will present a range of properties to you to choose from and/or to narrow down to a short-list which we can then evaluate further.
What’s Involved in the Property Search Process?
Market Knowledge: Buyer’s agents have an in-depth understanding of local property markets, including emerging trends and market dynamics.
Access to Listings: Buyer’s agents have access to extensive property listings, including off-market properties, which are not publicly advertised.
Networking: Our industry connections provide early access to new listings, often before they hit the market.
What’s Involved in the Property Evaluation Process?
Property Inspection: Buyer’s agents physically inspect properties on behalf of their clients, assessing condition, potential issues, and suitability.
Comparable Sales Analysis: They analyse recent sales data to determine fair property values and ensure clients don’t overpay.
Due Diligence: Agents conduct thorough research on a property’s history, title, zoning, and any potential encumbrances.
When buying ANY property in Australia, thorough due diligence must be conducted to make an informed decision and hence a wise investment. To not do so, could cost the buyer thousands. A buyer’s agent can be an invaluable asset during this process, helping to navigate the real estate market.
What’s involved in the due diligence process?
- Property Inspection: The property should be inspected thoroughly to identify any structural issues, water damage, or needed repairs. A buyer’s agent can recommend reliable building and pest inspectors and can be present during those inspections.
- Title Search: Vital to verify the property’s title to ensure it’s free of encumbrances or legal disputes. The property’s contract of sale provides for the certificate of title which your solicitor must ensure is relevant and accurately represented on the front page of the contract.
- Property History Search: A simple but important process to research the property’s sales history to gauge its market performance. A buyer’s agent has immediate access to historical sales data and provide insights to help understand fair pricing.
- Comparative Market Analysis (CMA): An important step is to analyse recent sales of similar properties in the area to determine fair market value. This insight really helps the buyers agent and the buyer to take the emotion out of the purchase and be able to buy safely, mitigating errors and problems.
- Finance Approval: So important to secure pre-approval for finance. A buyer’s agent can recommend a mortgage broker and assist with loan applications. Having finance ready to go aids in the buying process, increases your negotiating power and it enables the buyer to be ready for opportunities and be able to secure them confidently.
- Legal Advice: A buyer’s agent can connect you with experiences legal professionals. They know who the best conveyancers are and make recommendations. A good solicitor or conveyancer will scrutinise and review contracts and handle all the legal aspects of the purchase.
- Building and Pest Inspection: A buyer’s agent can engage professionals to conduct thorough inspections, uncovering potential issues. Such feedback can aid in the negotiation process if the issues can be overlooked or overcome.
- Property History and Zoning: Important to check for any future developments or zoning changes that might affect the property. A buyer’s agent can access planning records and advise on potential issues.
- Strata Report (for Apartments): If buying an apartment, a strata report must be obtained to assess the financial health of the strata scheme. A buyer’s agent can arrange for this report and help explain its findings.
- Local Knowledge: Some things just don’t have reports and are not easily found, especially if a buyer is relocating to an area they are not familiar with. In such instances, it is vital to have a buyer’s agent impart personal knowledge (examples) about the best schools, coffee shops, places to park and where the best local doctors and dentists are.
A buyer’s agent can streamline the property-buying process by leveraging their knowledge, network, and experience. They can help you identify suitable properties, conduct due diligence, negotiate effectively, and ensure a seamless transaction. This professional support can save you time, money, and stress when purchasing a property in Australia.
PLEASE NOTE: Whilst we can make recommendations it is up to the buyer whether they agree to the engagement of any of the above professionals. These professionals will charge the buyer directly for their services and House Hunters do not accept referral fees from any of these services. We remain impartial and you may choose your own service provider.
Ahhhh the Art of Negotiation. Our favourite part of the process. All parties must feel like there is a WIN : WIN outcome and to do this a fair but inciteful negotiation must take place.
Up for negotiation is not only PRICE, but TERMS OF THE CONTRACT and TERMS OF THE SALE.
It’s important to understand the Vendor’s motivation which can be influenced by their personal situation, their purchase price and their time on market.
The less emotive the buyer and the more motivated the Seller, the greater the BUYER’S WIN and the converse is true.
A great Buyer’s Agent will understand each of these moving pieces and use them to gain maximum benefit for their client whilst engaging fairly with the Seller.
We believe that you cannot negotiate anything successfully without prior knowledge of the other’s sides motivation.
It’s imperative to find out the reason for the sale in order to gauge the level of emotion involved. Along with emotiveness, days on market also dictates the level of urgency.
The more emotion involved (divorce, death, financial woe, purchased elsewhere) and the longer on market equals greater negotiation power to the buyer.
If the vendor has no urgency to sell and has all the time in the world, they can wait it out for a higher price but even that is thwart with danger for the seller when their property becomes stale and buyer’s see that as an opportunity.
A good and experienced negotiator will seek out every bit of information available to them to help them put together an offer that entices the vendor. The offer should consist of fair price, desired settlement period and anything else that might make the vendor see a win win for them.
The goal is to get the best price possible and to not overpay in any market.
A great BUYER’S AGENT will be an inciteful negotiator and will not only save you money but they will ensure you do not overpay.
Buying a property in NSW, can be exciting and daunting at the same time. The competitiveness and emotiveness of the process can overtake even the most experienced property buyer, especially when it comes to buying under pressure, at auction.
Here’s an overview of the auction bidding process in NSW:
- Preparation: Engage a qualified buyer’s agent who understands the local market and can assist with your property search. Ensure finances are all in order, due diligence has been conducted, contracts reviewed, budget defined and ready to go.
- Auction Registration: On the auction day, register as a bidder. You’ll need to provide identification and sign the auction terms and conditions. If you are unable to attend you will need to give your Buyer’s Agent proxy to purchase on your behalf.
- Auctioneer’s Introduction: The auctioneer will begin by explaining the terms of the auction and any specific rules for the event.
- Commencement of Bidding: The auctioneer will invite an opening bid. This can be made by any registered bidder.
- Rapid Bidding: Once bidding starts, it tends to move quickly. Bidders call out their offers, and the auctioneer acknowledges each bid.
- Reserve Price: The auctioneer will inform bidders when the reserve price is met. The reservice price is the minimum amount the seller is willing to accept.
- Property on the Market: When the reserve price is reached or exceeded, the auctioneer will declare the property ‘on the market’. From this point, the highest bidder, if the property is not sold, is the buyer.
- Determining the Winner: Bidding continues until there’s only one highest bidder remaining.
- Hammer Falls: The auctioneer will bring down the hammer to conclude the auction when no further bids are made.
- Successful Bidder’s Duties: Will be required to sign the contract for sale and pay the deposit immediately after the auction.
- Unsuccessful Bidders: Have no obligations.
REALLY IMPORTANT: Two Main Benefits of Using a Buyer’s Agent when Buying Property Via Auction:
Bidding Strategy: A buyer’s agent can develop a bidding strategy based on current and up-to-date market conditions and your budget to maximize your chances of winning.
Emotional Distance: They can bid on your behalf, removing the emotional aspect from the process and helping you stay within your budget.
Once both parties (the seller and the buyer) have agreed to the purchase price and the terms of the contract. The sellers agent will draw up a SALES ADVICE and send it to each parties conveyancer or solicitor. From there questions may arise and compromises will be made. Usually around clauses and inclusions. Most of the time these are minor, but essential to be scrutinised by your legal representative.
Private Treaty Buyers in NSW may waiver their cooling off period with a 66W from their conveyancer if they are satisfied with the due diligence already taken place. This is often the case in a hot market. Or they may opt to put down a .25% deposit to take the property off the market and do their due diligence in the 5 day cooling off period provided under this strategy.
Auction Buyers in NSW will need to have their ducks in a row prior to auction day as if they are the winning bidder they will need to pay the 10% immediately on the day and automatically waiver the cooling off period.
Your House Hunters Buyer’s Agent will guide you through this process. Where possible we will try to obtain the property for you prior to auction if the competition is strong.
Then we celebrate!
Other Advisory services
We HUNT. You CHOOSE.
It’s as simple as that.
We take the stress and pressure out of buying property by handling the STRATEGY, SEARCH, COMPARE, CHECK, NEGOTIATE AND BUY processes for you.
Just like the TV show HOUSE HUNTERS, we find you the right property within your budget without overpaying. We are right there with you from beginning to end.
Our Buyer’s Agents are experienced AirBNB, Booking.com and Vrbo Superhosts.
We know what types of properties will fetch the best prices and have the greater occupancy.
We don’t just talk the talk, we also walk the walk.
We love helping first home buyers and they are especially grateful for our experience and insight into the property market.
Parents, friends and colleagues are all well meaning but they add to the confusion for first home buyers. Government aids vary from time to time and keeping up with this, market trends, new suburbs, interest rate and finance implications can be daunting.
All House Hunters buyer’s agents have grown children so we know how tough it is and how to help our kids navigate to home ownership.
Renovators Dream vs. Turn key purchase?
Structural Renovations vs. Cosmetic Renovations?
Purchase a rundown property and obtain Development Approval (DA) to develop yourself or to sell with DA?
Is flipping houses worth it?
What should you do?
This is a minefield subject because it depends on the buyer’s personality and their knowledge of the building industry.
Whilst we can’t make the decision for you we can help you understand the pros and cons of all options because we buyer’s agents and House Hunters have done all of the above.
Never buy residential property sight unseen. You need eyes and ears on the ground to view the property because selling agents will show their property in the best light with the best images and showcase all the positives. It is their job to do this, without telling untruths.
The buyer’s agents at House Hunters can conduct all meetings with you via zoom, skype or facetime. We then inspect all suitable properties and provide you with video footage plus pros and cons of the property. You will be provided with evidence of comparable sales and their prices to determine whether it is priced fairly. With further due diligence we can then provide you with advice as to whether it is a good buy or not.
For overseas/interstate investors we will also put you in touch with known excellent property managers so that your property is looked after beyond settlement.
This can save you thousands, if not hundreds of thousands.
If you would like to make an offer, it is best practice that only genuine and unconditional offers are generally considered prior to the auction of a property. In the event that a Seller decides to accept your offer, contracts may be exchanged immediately which is to the benefit of both you and the Owner.
Here’s the steps to making your offer:
- Have the contract reviewd by your Solicitor or Conveyancer.
- If there are changes, additions, or enquries to be made on the contract of sale, have these submitted to the owner’s legal party directly.
- Conduct any further due diligence including pest and building inspections, strata reports, Council checks etc.
- Obtain a 66 W Certificate with your Solicitor or Conveyancer’s signature on it to waive the cooling-off period.
- Submit the offer in writing via the Selling Agent’s preferred method.
Remember the offer should be a WIN WIN for both parties. Do not start with your best offer, the seller is very unlikely to take your first offer anyway.
Get a good Buyer’s Agent to suss out the vendors motivation in order to put your second best foot forward first.
If after the FREE DISCOVERY CALL, you do not want to engage us for any specific services but would like to continue to receive expert one-off on ongoing advice about a property or an area or anything property related, you can do so by engaging us on an hourly basis.
This includes providing property reports about a suburb or per property address.
We offer this to clients after the FREE DISCOVERY CALL.
We do not engage with the Seller on the same property. This is a conflict of interest.
We do not work with more than two Buyer’s at the same time. Doing this dilutes our focus and makes us less effective. TIP: Do not work with a Buyer’s Agent that services more than 1-2 clients at a time.
We do not work with two buyer’s with the same or similar brief at the same time. This is a conflict of interest.
We do not disclose ANY INFORMATION – confidential or otherwise – to anyone.
We are independent and do not work with any real estate agents exclusively. We work for you only.
The Buying Process with House Hunters
bUYER AGENCY sERVICES
Initial Consultation
Free Online or In-Person Chat to determine whether we are the right fit to help you to achieve your goals.
Strategy Session
Typically this takes a couple of hours to nut out a detailed brief and agree on next step. We listen then strategise.
Property Search & Selection
We present to you properties within the brief for your consideration. We HUNT. You CHOOSE.
Due Diligence
Once desired property/ies have been identified we need to make sure it is viable and problem-free.
This includes pest and building, strata reports and council checks.
Negotiation or Auction Bidding
We work out the best strategy depending on vendor motivation, time on market, supply and demand and numerous other factors.
Settlement & Celebration
We look after the process up to settlement and beyond ensuring any hiccups don’t turn into major problems. We are there to the end.