Do you dread the thought of dealing with real estate agents?

It can feel like they are trying to be your best friend despite obviously working for the seller. They might even appear to be the ultimate double agent, but in reality, they are just doing their job. If you are entering the property game - it’s your job to be prepared.

If you have ever asked the question, why would a Real Estate Agent want me to get the best possible price for a property when it would negatively affect their commission - then congratulations, you are ahead of the game.

We often get asked by our clients for advice on how to make an offer on a property or how to negotiate on a possible purchase. It can be a difficult process, after all, your opponent will be experienced in the art of negotiation, while the typical buyer won’t be.

Over the past decade we have been fortunate to be surrounded by property industry professionals and I’ve picked up a few tricks that we personally use to build my own property portfolio. Specifically, Buyer’s Agents have been instrumental in our own negotiation development. A Buyer’s Agent balances the uneven Real Estate Agent equation. They act for the purchaser by identifying properties according to the buyer’s brief and then negotiate the sale with the seller’s agent to secure the best deal for the buyer.

An experienced Buyer’s Agent is worth their weight in gold. Over the years they have saved me a small fortune and we want to pass on their wisdom to you. So, here are my top 5 tips to help you master the art of negotiation:

Get as much information about why the vendor is selling as you can.
- Why are they selling?
- When do they need to settle by?
- Have they purchased another property?
- How long has the property been on the market for?
Negotiation does not always have to be about price. If a vendor has already purchased another property, they may be more motivated to settle quickly rather than get the absolute best price they can achieve.
It’s Ok to be a little emotional when trying to purchase a family home, but never let your emotions play a role in an investment property purchase. Remember, it’s transactional.
Ask the agent to show you the comparable sales in the area that have helped them arrive at their asking price for this property.
Ask how many people are interested in the property and follow this up with how many have already had building and pest inspection completed.

BONUS TIP: If you decide to use a Buyer’s Agent to help purchase a property, make sure you are the only party paying for their services.

So, if you would like more information about our personal experiences working with Buyer’s Agents, please get in touch and we can talk you through the process. But if you do decide to go it alone, remember the top 5 tips and bring your A-game to the negotiation table, it could benefit you significantly.

Stay safe
First Avenue Finance Team