Some real estate agents focus only on the next sale – neglecting buyers, or at least paying them scant attention – on the basis that there’s nothing in it for them.

That’s a big mistake, according to research.

CoreLogic’s Report, Buyer Perceptions of Real Estate Agents found that only 25% of buyers would use the real estate agent they bought from to sell their own home. Perhaps even worse was the fact that only 9% of buyers rated agents’ honesty and trustworthiness as “excellent”, while 16% of buyers said it was “poor” and 12% “disastrous”.

That’s not just a sad indictment of our profession, it’s also terrible for business.

We want to be synonymous with Darling Point property, which means we’d love to be the first real agent every buyer and seller recommends. We know the only way we can do that is to build long-term relationships and offer great service to everyone – not just those who we think can provide the next sale.

As the Corelogic report argued, “one of the greatest falsehoods real estate agents tell themselves is that buyers and sellers are two different types of customers who need to be treated differently.” We know that buyers are vital – the key ingredient even – to every sale we make. And, in time, buyers almost always become sellers.

I pride myself on being called back to sell for my previous purchasers. For example, in Ranelagh, which is one of the largest buildings in Darling Point, I have been responsible for more than 100 transactions over 25 years, and a personal highlight was selling one of these apartments six times – for a higher price each time.

Nurturing long-term relationships

Ultimately, real estate is a service industry. And good service promotes repeat business and good word of mouth.

The report found that buyers and sellers both highlighted the same behaviours and skills as attributes of excellent service: good communication, help, empathy, fast response times and a transparent buying process. They both also wanted someone who recognised the large emotional and financial investment that buying and selling property involves.

Most people don’t just buy one property in their lifetime. They go on a property journey: one that often starts in a small property or apartment before upsizing – maybe even a couple of times – and then downsizing into an apartment again. Along the way, many of our local buyers also buy an investment property or holiday home and help their children out with their first home.

Thinking of selling?
Just researching the market?

On average, we move on every decade of our lives, according to Domain data, with an average hold time of 10.6 years for houses and 9.5 years for units. We aim to be there for all of these moves, and even in between, to offer advice along the journey.

Matching buyers with the right property

While the report sadly found that 68% of buyers said agents had little to no interest in helping them find a suitable property, we see ourselves as property matchmakers, helping people into the right home at every stage of their property journey. We may meet a buyer at one property, listen to what they’re after and then end up introducing them to – and ultimately selling them – a different property that much better suits their needs.

Sometimes this can even be someone who wasn’t really searching in earnest – or at least thought they weren’t. But we showed them a property that suited them far more than their existing home.

Here in Darling Point, where people value their privacy and only want to move if they can meet very particular criteria, there can be a whole hidden market in properties that you can only access with the right agent.

As agents, we want to go on a journey with our buyers. Sometimes, they know they want to move but don’t know exactly what they’re looking for or even what’s out there. They also often don’t have clarity on what’s essential in their next home and what may be negotiable. While we’re not buyer’s agents, we believe our role is in part to draw on our local market knowledge to guide them, matching them with their perfect property for the next stage of their lives.

We often field questions about properties buyers are considering, go the extra mile with transport and local info, or guide them on renovation potential.

In doing so, we hope in time that we become the agents of choice for all the buyers we’ve helped in Darling Point.

Want more?

If you’d like to know more about our local property market in Darling Point, or if you need help buying or selling a home, get in touch.