In Episode 32 of the Property Investing Journey series, Mike is joined by Michelle Tucker and Linda Johnson, Co-Directors of Spring Buyer’s Agency and Spring Property Management, to discuss the value proposition of working with a Buyer’s Agent in navigating the residential property market.
Having established Spring Buyer’s Agency in late 2020, Linda and Michelle each have strong business and real estate backgrounds, covering multiple aspects of the industry from sales and operations through to projects and working closely with investors, property owners and developers alike. Spring was founded with a mission to help busy people achieve their property and lifestyle goals via unbiased advice and seamless navigation of the market.
In this episode Linda and Michelle explain the value that a Buyer’s Agent can bring to the residential sales process, particularly as it relates to off-market transactions. And just what is an off-market offering? Often times properties are labelled as off-market, but they’re more likely to be pre-market. Michelle and Linda explain what the difference is and why it’s important.
From leveraging relationships built over many years in the industry, to understanding the market and uncovering opportunity, Linda and Michelle talk Mike through the myriad of advantages a Buyer’s Agent can bring to the table. If you’re in the market looking for a hidden gem, or just weighing up the benefits of outsourcing your property search, this episode is one you won’t want to miss.
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Mike is joined by Michelle Tucker and Linda Johnson, Co-Directors of Spring Buyer’s Agency and Spring Property Management, to discuss the value proposition of working with a Buyer’s Agent in navigating the residential property market. Linda and Michelle explain the value that a Buyer’s Agent can bring to the residential sales process, particularly as it relates to off-market transactions.
What we cover in this episode
- The definition of a true off-market
- The main motivation for selling off-market
- Is buying off-market a golden ticket?
- The value of a Buyer’s Agent
- Leveraging long term relationships with sales agents
- The three types of buyer’s agents
- Three tips for engaging with a Buyer’s Agent
“Some off-markets go to market wanting a dream price and this is another whole scenario that we have to work through. We don’t want our buyers paying overs for a property just because it’s something that no-one else can see and it’s ‘special’.“ Michelle 4:30
“Off-market doesn’t necessarily mean cheap. There’s people that go off market that are wanting over what’s reasonable and at fair market value that might be ok to purchase off-market, but if you’re reducing the competition a lot of properties are selling above fair market value because there’s a lot of urgency“ Mike 6:35
“The value of a buyer’s agent in many ways, is understanding the true value of a property. Now that takes many, many years.“ Michelle 9:01
“In relation to investor products versus owner-occupiers, you are 100% correct, it’s two separate skillsets. You’ve really got to understand intimately the numbers… there are so many different metrics you need to understand first and foremost, but also you’ve got to know where to look, when to look, how to look.“ Linda 18:08
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