How Buyers Agents In Sydney Have Evolved
As the property market in Sydney grows more and more challenging, buyer agents are becoming more commonplace as prospective homeowners and investors look for additional assistance. However, the role of a buyer’s agent has not always been the same. From serving a niche – predominantly international – clientele to now helping local buyers navigate a highly competitive landscape, buyer agents continue to serve clients by leveraging local expertise and strong connections.
We’ll be exploring how and why the role of buyers agents has evolved, how the property market in Sydney has changed, and the role of technology in the future of buyers agents.
The Evolution of Buyer’s Agents
From the origins of buyers agents to changing audiences and markets, and the role of technology, here’s everything you need to know about the evolution of buyers agents.
Origins
The purpose of buyer’s agents has always been, first and foremost, to help buyers on their home-buying journey. Unlike real estate agents who must remain impartial and unbiased as they can represent both buyers and sellers, buyer’s agents act solely based on the interest of their clients.
For many years, the services of buyers agents were typically enlisted by two types of buyers: overseas and expat clients who were looking to purchase property in an unfamiliar area and needed guidance, and buyers who were short on time and couldn’t afford to spend time pouring through listings and going on endless viewings.
Acting on behalf of their clients, buyer’s agents would use pre-determined criteria to present only the most suitable properties.
Evolution
In recent years, the focus of buyers’ agents has expanded to include a wider audience. With extensive knowledge of local markets, even lifelong residents of Sydney are now seeing the benefit of buyer’s agents. When we started in 1998, a typical buyer might have been an affluent businessperson looking to expand upon their portfolio, whereas a buyer now might be a Sydney-sider looking for an incredibly specific property. Criteria that once might have been as broad as a region in Sydney are becoming more targeted, with buyers now honing in on preferences, restricting searches to individual suburbs, and sometimes just a single street!
Property management was always a part of Rose & Jones, as we don’t believe the help should stop as soon as the sold sign goes up. We consider it a natural next step that not only helps clients solve their property management needs but also helps to build lasting, long-term relationships. The best buyers agents in Sydney are evolving by offering value at all stages of the property life cycle.
Markets
The appeal of buyers agents for local buyers is not just driven by preferences, but also competition. Sydney’s property market is challenging for any buyer to navigate, and with fierce competition for the limited supply of properties, expertise is valuable. Having access to off-market properties, for example, is just one way how buyer’s agents are helping buyers gain an edge in securing their dream homes.
With properties at auction commonly exceeding the guide price, having a professional to act on behalf of a buyer, whether that’s bidding at auction, or negotiating with a seller, is invaluable.
Technology
Buyer’s agents wear many hats, and when dealing with different requirements of different clients, a lot of research is required to help find the right property. In addition to utilising connections that can help with off-market properties, buyers agents must also scour listings and make countless every day to find the right property. Emerging technology including AI-driven tools and platforms are improving the way properties are searched, analysed, and recommended, offering greater efficiency and personalisation.
Other technologies such as virtual reality (VR) and augmented reality (AR) technologies are also being used to help clients explore properties remotely in a detailed and immersive manner that has never been possible before. Buyer’s agents that aren’t afraid to explore new technologies can not only help their clients better, but they will also be able to improve efficiency, too.
Whilst the purpose of Sydney buyers agents hasn’t changed, the role has evolved to include a wider range of prospective buyers at all stages of the property buying cycle. To learn more about how buyers agents work, or for help purchasing your next home or investment property, Rose & Jones can help. We are highly experienced in dealing with property in both New South Wales and Queensland and can help you secure your dream property at the right price and with the right terms.
Get in touch with the team at Rose & Jones to get started on your property journey today.
About Rose & Jones Buyers Agents
Rose & Jones has been helping clients find and purchase properties in Sydney, Brisbane, and the Northern Rivers since 1998. A renowned property buyers agency across residential, commercial and industrial sectors, every one of our property experts meets our high standards, so you won’t have to compromise yours. With access to a wide network of off-market properties, our team can help you find the perfect property. Also offering property management services and investment advice, make Rose & Jones your go-to when it comes to real estate in New South Wales and Queensland.
