New technologies assisting in buyer success
Over the recent months, we’ve seen the real estate industry employ new and creative alternatives in a bid to continue to operate. With government lockdowns, social distancing and national guidelines all limiting the usual methods of property transactions, agents have skilfully adapted to modern business by introducing technology-driven processes enabling the flow of momentum to continue, right across the marketplace, from a national level.
With the majority of states now operating through private appointments, unable to provide cluster-type open homes, many buyers have been reaping the rewards of building a stronger relationship with real estate agents, whilst maximising the opportunity provided by more personalised service.
So, as a buyer ready to purchase, how can you boost your opportunity and maximise your position, when it comes to purchasing?
Standing out from the crowds of buyers during an open home can be difficult when you’re competing with a multitude of interested parties. However, with the shift to one-on-one, private inspections, the interrupted communications and physical competition evaporates. During a private inspection, regardless of the delivery (virtual or face-to-face), the agent is solely fixed on you, the buyer. Ready and willing to answer your questions, guide you through the home, or even provide broader community education, the agent dedicates their time to inform you of all they know. And for a buyer, this couldn’t be more delightful!!
As with most situations, knowledge is power and what better position to put yourself in, then a fully educated one.
On the flip side, an agent who has a comprehensive overview of their buyer’s desires, will have a strong ability to synergistically develop off-market ‘deals’. With so many vendors dabbling in ‘off-market’ methods of selling, agents are holding properties in hope they can find a buyer by networking. Offering up your circumstances, along with your list of non-negotiables to an agent, will help them connect you to a property you may not otherwise had the chance to view.
See it for what it really is
Consider your virtual appointment, or private inspection with your agent, as a chance to fully submerge yourself into each zone of the home, without other buyers congesting the property. Enjoy viewing the home in private, paying particular attention to how each space makes you feel, and the realism of living there on a more permanent basis.
Stand and ponder areas of the home you wouldn’t have otherwise seen, or spent time in. And don’t forget to take a step outside, enjoying a moment to listen for the wild native birds, or the sound of noisy neighbours!!
Maximise your time in the home; don’t feel rushed to get in and get out. Your real estate agent will have blocked out enough time for the inspection to allow you to take your time and become well acquainted with the property.
Open to options
In a time not too long ago, many agents would encourage buyers to make the time to view a property whilst it was open during a Saturday inspection. Of course, from an agent’s perspective, there are many pro’s to encouraging this type of structure; from highlighting a plethora of interested parties, creating a sense of urgency, to developing a convenient and clearly defined weekly schedule.
However, as the social distancing restrictions continue to drive a more tech-orientated way of business, we can say goodbye to buyers randomly arriving at a home open. Now, by the means of technology and restrictions, buyers have to pre-plan their ‘private’ inspections, continuing to have the upper hand, as they set their own viewing schedule and appointments.
How we can help
The shift away from large, open home inspections, driven by the recent global landscape has propelled buyers into a more educated and strengthened their position in the buying process. The introduction of additional tech-orientated services has encouraged a stronger relationship between buyers and agents, and for many, resulted in an off-market purchase.
If you are considering purchasing, and uncertain on how to successfully navigate the process during these times, please contact your friendly, local Eview Group member agency. Their expert advise will help direct you with a clear and defined path to purchasing your dream home.