Market Mentor: Luxe Coastal Property Buyers
Looking for the elusive dream home or investment but feel like you’re constantly behind the game? Discover how a buyer’s agent might just hold the key to securing your new home.
There’s nothing dull about the property market. Real estate remains a hot topic, and many are surprised at how price rises have contradicted interest rate rises and predictions of property pundits and economists.
Interestingly, the dynamic and ever-evolving real estate market of the Sunshine Coast has witnessed a notable change in recent years – the rising demand for buyer’s agents.
Home purchasers in cities like Melbourne and Sydney have long been seeking assistance from buyer’s agents, but it wasn’t until the onset of COVID-19 and the mass migration of city dwellers to Noosa and the Sunshine Coast that buyer’s agents gained popularity here.
With limited homes for sale and high demand from interstate homebuyers, the need for expert guidance and a professional who can negotiate on your behalf has become the difference between securing a home or being left on the sidelines, wondering how you are missing out time and time again.
During the COVID era, with many properties snapped up within a day or two of being advertised, Queenslanders began recognising the value of a buyer’s agent to unearth properties, often before they were publicly listed for sale.
According to Christine Mount of Luxe Coastal Property Buyers we are now in a more balanced market between seller and buyer and are still experiencing low volumes of stock.
“This limits the options for buyers and consequently, we’re seeing people turn to buyer’s agents to unlock hidden opportunities and make informed decisions amidst fast-changing market conditions,” she said.
We asked Christine what is driving this shift towards buyer’s agents:
1. Secret listings and early advantages
“Noosa and the Sunshine Coast have long been popular with families and retirees looking to make a sea change. However, once settled, it’s a long time before they are ready to up and leave,” she shared. “With a short supply of new homes being built and current residents staying in homes for an average of 12 years, there’s a long waitlist of people keen to secure a property in the region. Hence, finding any property, let alone a top-quality home can be challenging.
“Buyer’s agents bring local expertise and in-depth knowledge of the real estate market, helping locals identify properties that align with their specific requirements.”
Christine shares that she often hears about the next set of homes being listed for sale before the ink is dry on the sales agent’s listing contract.
“I make it my business to touch base on a regular basis with the many real estate agents I’ve built a relationship with. Because they know me and know my clients are finance approved with a clear brief, I get given the opportunity to inspect homes ahead of the general public – even before the property photographer has been sent in!
“As a buyer’s agent, my team and I have access to what is known as off-market listings, giving our clients that all-important first mover advantage. 20-30% of transactions never actually come to market, and in an environment of limited supply, you can’t really afford not to have access to the hidden, off-market opportunities. We have an active database of off-market listings”
2. Understand the street values
“Engaging a buyer’s agent who specialises in the Sunshine Coast and Noosa Shire regions ensures you have an expert with a deep understanding of the local communities, neighbourhoods and amenities,” Christine says.
“There are some aspects of the Southeast Queensland lifestyle that only a local would be privy to, such as the reputation of schools, highly sought-after streets, the best suburbs to buy property in, the best streets to buy in Noosa, the fastest transport routes, and popular activities, clubs and facilities.
“Your buyer’s agent is not only a highly trained negotiator but a local guide, making informed decisions about the location and suitability of a property based on your current and future lifestyle needs.
Understanding local market nuances is crucial. Different streets will have significant variations in property values. Without this knowledge, buyers can make critical judgement errors, overestimate a property’s value and pay more than needed.”
3. Take the emotion out of negotiation
Christine said a key advantage to working with a buyer’s agent was their ability to assess market value of a home and their experience with different types of negotiation scenarios.
“A home can be sold through private treaty, expression of interest or public auction,” she explains. “As market conditions change, so does the selling agents’ sales strategy. Understanding the negotiation process and legislative practices for each of these sale methods is crucial. Put a foot wrong and you could end up paying tens of thousands more than is needed.”
Keeping your cool in negotiations and not giving the game away to the other party is hard to do when you are emotionally invested. A buyer’s agent negotiates and closes deals with a cool head, week in and week out.
Christine shares how her team provided the winning edge for a family needing to find a suitable home for multi-generational living.
“Our clients were extremely busy entrepreneurs, working remotely within their established business and the home needed to accommodate a family of five, including two adults, two children and their grandmother,” she said. “They wanted a family-friendly street within a tight-knit community with a short distance to the children’s school.
“After a search within the various sub-markets of Noosa Heads, refining their property strategy, we found them the perfect property close to the home they were renting in Noosa Waters; a suburb they were settled in already and were very happy with.
“Even local homebuyers can start their search in the wrong place or with misconceptions however an experienced buyer’s agent knows exactly how to find a needle in a haystack.”
4. Save time to secure your home
Once you embark on your property search, you soon realise how time-consuming finding a property that ticks all the boxes can be. You have to sift through a lot of property listings and unless you can put aside
a day a week ahead of the weekend Open Homes to call agents and desk-research properties, it’s easy to become overwhelmed.
Christine says this was where a buyer’s agent proves invaluable as they conduct extensive research to shortlist viable properties and even gain access to view homes ahead of the general public.
“Leveraging the network and connections of a buyer’s agent can fast-track the property search process and save your most precious resource of time; not to mention lessen the frustration of viewing unsuitable homes.
If you’re looking for a new home in the Sunshine Coast or Noosa Shire, it’s worth weighing up the benefit of working with a buyer’s agent.
You’ll not only gain access to hidden gems, but you’ll have an expert helping you make informed decisions, conduct negotiations and avoid overpaying on your next home purchase.
Isn’t it time to find your dream forever home?
SPECIAL EVENT: THE ART OF LUXE
BUYING PROPERTY IN NOOSA AND THE SUNSHINE COAST
This stand-up cocktail event will include special guest speakers including:
- Christine Mount
- Stuart Greenshill Director, Herron Todd White
- Di Henshall Director, Di Henshall Interior Design
- Charity Partner: McGrath Foundation
Wednesday 8 May, 5.30pm
The G Contemporary,
6/32 Hastings Street, Noosa Heads.
Free event, registration essential!
Visit: www.luxecoastal.com.au
