April 18, 2022

#149: Listener questions - Is it critical for a Buyer's Advocate to have local expertise & can a borderless BA overcome this with data? Shou

41 minutes

Got a question for the trio? - https://zfrmz.com/uLtjhyBskV96PY6eJfaI https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's episode Dave, Cate and Pete take you through: Market update 1. Could now be the time to buy? Today's market is still a seller's market, although not as crazy as last year. In our two capital cities, many properties are passing in but selling immediately afterwards, and auction clearances rates have lowered but still in the 70's. With global unrest in Ukraine, the federal election looming and chatter of interest rate rises, this might just be the window that you've been waiting for if you're looking to purchase. 2. Turning the tables on fixed rates The Covid induced measures targeting the 3 year bond yield meant that for much of 2020 and the first half of 2021, fixed rates were the lowest we've ever seen and even lower than variable rates. However, the last 10 or so months have seen fixed rates rise and the lending market switched back to the normal status quo of variable rates being lower than 3 year fixed rates. 3. Check out the new CoreLogic website CoreLogic have made some improvements to their site, which is a huge positive as it gives the average punter an excellent idea of what's happening in the market. Vendor advocacy and borderless buyer's agents 1. Call out to our listeners for questions In this week's episode, the trio tackle questions from our listeners on vendor advocates and borderless buyer's agents. Got a burning question? Submit your question to the trio here: https://zfrmz.com/uLtjhyBskV96PY6eJfaI 2.Should I use a vendor's advocate? The question from our listener: I am interested to know about vendor advocacy. We are selling a property and have been approached by a known buyer's advocate in our area who has offered to act as our vendor advocate. This isn't the first time we have sold, it's our fourth time and our most important. We haven't been overly happy with our agents in the past and could see the value this person could bring. The thing I can't reconcile is why an agent would do more for us at the request of our advocate when they are getting less commission (advocate getting their share). We are open to a new experience and after two discussions with the advocate we can see the knowledge base is high. We just don't know what to be careful of and if we end up paying a higher commission will it be worth it? 3. What is a vendors advocate and can they add value? The trio unpack the difference between a vendor's advocate and a selling agent, plus the benefits and risks of using a vendor's advocate. Cate shares her expertise on working alongside vendors advocates and Dave shares his thoughts based on when his company had buyer's agents and vendor advocates in-house. When done well, vendor advocacy can certainly add value, but there are critical considerations in vendor advocate selection to be aware of. 4.When is engaging a vendor's advocate the right move? The trio discuss the circumstances that lend well to using a vendor advocate and Cate shares some critical questions that our listeners should ask vendor advocates when choosing one to work with, and in particular, the experience and the credentials they should have. 5. Borderless vs local buyers agents - the pros and cons The question(s) from ou...

...more