There is a steady rise of buyers agents in the industry, but what exactly are the benefits to buyers when using their services? Arjun Paliwal, CEO of InvestorKit outlines his 3 key benefits when using a buyers agent.
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Here’s the transcript of the video:
Let's say I'm a buyer. Yeah, I've never used a buyer's agent before. What are the benefits to me of using buyer's agent? There are many micro benefits. But on the highest level, that's a great question by the way, I would start off with three things, potentially four but let's just go with these three. Number one is time. We all know searching for property isn't a got it today. It's all done. See you later. It takes time and there's even a reason why banks have pre-approvals that lasts for three to six months. It's not purely for just their finances and what changes but it's also from a perspective that it does take time for someone to go here's my pre-approval and find something. Yeah. Sure. So number one is if you're on that time aspect people who take three to six months, my average time to buy for clients is anywhere between two to six weeks. And the reason why is my nine to five is property while someone has a nine to five family life, social life and then tries to fit property after that. Yes. Good point. Number two and three I'd say are research and experience. The common buyer may not have, when you include time in their, the time to find that research but they may not have access to all the research channels to because there's a lot of stuff that's free. But there's a lot of paid things as well. Yeah, So I'm not only accessing both free data but also paid data and even working with advisory firms to be able to take that research to the next level. Places like Ripehouse, places like Riskwise and a few others just getting this data to a next level where you can say, Hey, Mr and Mrs Customer, this is what you thought, yes, but did you consider this? This is just that extra piece and then you can throw in part three around experience. Not everyone is buying a lot of properties and I think we've got to understand that where your buyer, if you're thinking of the investors in Australia, sure there are many investors not caught up in this number with their purchase properties and trusts, but from a personal name, there are 90 percent of Australian investors only the one or two. So if you think about property that's not a lot of practice and I really want to share that experience part with my customers to say, I've done it a couple of times for myself. Done it a couple of times for my customers and done it multiple times for people in my previous industry as well. Yeah, so I would say those are the top three and if you throw in some micro benefits in there you get access to contacts and connections where you get on and off market property. So just this week, I've had a couple of off market solutions for customers and these places are not listed online. Yep. And if you're thinking great, I'm going to go online and find property and you can't see this one, you may have missed out on an opportunity and I don't think any opportunity is better than the other off market or on market don't necessarily mean they're better but just having access to more means you can have more opportunities. Yeah, good point..
