There can be no doubt that buyer confidence is at a low caused by the combination of plummeting house prices and the difficulties in the financial markets. Although we are in a 'buyers market' and there are likely to be some tremendous discounts to be achieved on properties, prospective buyers have no way of gauging what real property values are.
In general, property buyers harbour a mistrust of estate agent valuations and are worried that the media's worst case scenario of further double digit percentage drops in house prices in 2009/10 would result in anyone buying at today's asking price suffering a considerable loss in their property's equity within a year.
This lack of buyer confidence is one of the reasons why we believe it is now vital for buyers to have the protection of an industry body for buyers agents and to ensure that the conflict of interest that estate agents have is addressed by buyers having their own representation in property transactions.
It is time for 'buyers agents' to have their own industry body, rather than being mopped up within 'relocation associations' such as ARP, and have their consumer message or business purpose diluted by an organisation whose scope is too broad.
Buyers’ agents are more than just relocation agents. They are professionals that specialise in searching, negotiating and purchasing property on behalf of the buyer and ultimately giving the buyer professional representation in the transaction, often achieving healthy discounts on the asking price.
The APFBA - Restoring Buyer Confidence
APFBA’s key roles include providing help and guidance for buyers’ agents while actively campaigning to make the property market more user-friendly for the buying public. As a leading player in the property industry, APFBA offers significant benefits to both buyers’ agents and consumers.
As a respected industry body, APFBA gives buyers’ agents the credibility of being part of a professional body and the opportunity to promote qualifications through its membership. By choosing a APFBA member, buyers can be confident they are dealing with an experienced and professional property finder or buyers’ agent.
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