Under traditional estate agency arrangements vendors pay agents hefty commission and usually fairly substantial marketing costs which in nearly all cases are passed onto the buyer, as the vendor naturally factors these considerations into his or her bottom line when deciding whether to accept or reject any given offer. We have changed things up a bit by reversing the traditional practice by allowing vendors to sell their property for zero cost whilst offering buyers a service that targets properties that fit a buyers requirements. We charge the buyer, not the vendor but the buyer is far better off and enjoys a lot of advantages when looking to buy.
The commercial reality is that vendors are really no better off using selling agents, and buyers who actually pay the vendor’s commission in any event are even more so. Regardless of the product or service being purchased buyer’s bear all of the costs in the delivery of that product or service including all sales commissions, all marketing costs, all legal costs, interest and all government charges including stamp duty. In the case of real estate the buyer is ultimately funding all of the marketing costs along with the agent’s commissions while the agent is acting in the interests of the vendor and by definition against the interests of the buyer, this makes no sense.
We provide these advantages to buyers:
- An opportunity to purchase a property before its actually listed for sale with a selling agent.
- A real estate agent acting for the buyer (the person actually funding the show) rather than the vendor.
- Access to due diligence, market intelligence and guidance throughout the purchase to settlement.
- Transparency in relation to costs which are known and agreed to by the buyer.
- Lower cost, targeted marketing directed to those interested in selling properties that fit the specific criteria the buyer sets, saving time and money
- Low overhead, low cost, fully mobile business model.
- The provision of a method for vendors to sell without having to factor in commissions and other costs.
For Vendors some of the advantages of speaking with buyer’s agents are fairly significant as well.
- No commissions or marketing costs easing pressure on achieving a premium price to cover these.
- Only highly qualified and suited buyers introduced to the property saving time.
- No signage, no marketing campaign and no endless rounds of open for inspections.
- No exclusive authority periods tied to a particular agency.
- No obligation to accept any offer, indeed no obligations whatsoever.
- Absolutely nothing to lose and everything to gain.
- No sales agent pressure to accept low offers in quiet markets.
Using a Buyer’s agent to both buy and sell property represents a complete reversal of the traditional method of vendors selling through a sales agent and attempting to recoup those costs in the process. This strategy delivers gains to either side of a transaction creating a classic win win situation for both sides.