Buyer’s agents may not always be a selling agent’s best friend at price and condition negotiations, acknowledges the director at buyer’s agency InvestorKit, Arjun Paliwal. But he says that getting to this point is a significant step in the sale process, and closing the deal is usually not far away. Here are five ways he says selling agents can work more closely with buyer’s agents.
1. Keywords matter
Mr Paliwal said that investors are increasingly turning to sophisticated software to drill down on properties listed online.
“Even simple keywords are being used by investors,” he said.
“Finding what may be compelling to the investors in your local area and interstate can help people drill down to your listing as they search. With so much choice, people often get selective on who they want to reach out to first, hence having the right listing information matters.”
2. Speed is everything
It is easy to think your listing will be the one, Mr Paliwal said, but buyers and buyer’s agents are out there putting their hands into many cookie jars.
“Whether it is picking up the phone at the first ring, returning a message, emailing someone back or handling a domain enquiry online, speed is key.
“Most real estate agents are skilled communicators; let your strengths show by showing up first.”
3. Proactive networking
Mr Paliwal said there is a wealth of knowledge to be had in building proactive relationships with buyer’s agents.
“Or at least being open to building relationships with them. They have buyers, you have properties — simply put, it is a match made in heaven,” he said.
“Learn more about their buyers and their ideal clients. Understand what information they usually gather each time they buy a property for their clients, as each buyer’s agent is unique with their approach and you could have this all prepared in advance.”
4. Be social
Mr Paliwal said that social media isn’t new, but asked, how often do you actually engage with the content?
“I personally believe LinkedIn is the most powerful platform to authentically connect with your target audience,” he said, adding that they are looking for experts to learn from.
“A simple cycle of connecting with the right people by regularly posting content and engaging with others and their content can be very impactful.”
5. Engage mortgage specialists
The majority of mortgage brokers and bank lending staff can put together an application for a first home buyer, but only a few specialists have the confidence to support multi-property owners and investors, Mr Paliwal said.
“Although the volume of these types of brokers and investors is not large, tapping into this space can be very rewarding.”