F Magazine

Published on June 24, 2020 | in Profiles

Brisbane based prestige property buyer’s agent Lauren Moore was not afraid to ruffle a few feathers by swapping sellers for buyers with the aim of creating a more level playing field in her local marketplace.

Launching Lauren Moore Property in March 2018, Lauren, who was previously a sales agent, says she decided to “flip the switch” and advocate for buyers who she felt were underrepresented in Brisbane. She says that despite “buyer’s agents” being quite a new service in Queensland, she saw a gap in the market and decided to go for it. “When speaking with local families, I noticed a huge frustration in Brisbane’s inner city local real estate market. There was limited stock and high buyer demand so buyers had little control or support.

“I knew buyers’ agencies were in their infancy in Brisbane and there was a huge gap in the market for someone to advocate for families looking to purchase a new home. The prestige market was missing a strong industry leader in the buyer’s agency space, and even though it made more sense for me to go back into sales, I decided to flip the switch and advocate for buyers,” Lauren said.

She says she has experienced solid growth as her business has almost doubled year on year. “My business has taken off and it actually wasn’t something I expected or forecasted. I was inundated with clients wanting to utilise my service.” Lauren also grew her team in 2020, bringing on Jillian Breen who was also an accomplished sales agent, who is now using her expertise to represent clients on the other side of the transaction.

Despite COVID-19, Lauren says her client activity has remained strong. She says her role creates diversity in the property market, previously steered by sales agents. “The selling agent has always controlled the narrative in real estate. This for years has left buyers with no control in the purchasing process. Agents are there to get the best price for the vendor. Unless you have worked in the industry and been privy to how the sales, negotiation and auction process works, there is no way an ordinary buyer is on an even playing field or aware of the inside tricks of the trade.

“Buyer’s agents were traditionally used for investors, but with interstate migration at an all time high in the past few years, we have really seen the interstate purchasers drive the buyer’s agency industry in Australia for owner occupiers.”

Posted by Danielle Hughes Brown

Ausmumpreneur Finalist

Lauren, a mother of two boys, is proving to be a real innovator in the industry – filling the missing link and helping buyers find their home or investment. By doing so, she’s on the fast-track to success and was recently announced as a finalist in the 2020 AusMumpreneur Awards Rising Star; Service Business; and Making a Difference (Community) categories (QLD and NT).

Buying During Covid-19

8 Tips for Negotiating with Real Estate Agents

It can be intimidating to negotiate with a real estate agent to get the results you want. After all, they are the professionals – what do you know compared to them?

The good news is that there are some simple things you can do to improve your chances of getting the best outcome from a negotiation. Here, we have put together Lauren Moore Property’s top 8 tips to help you come out on top.

1. Be prepared

Before entering into a negotiation, it’s worth preparing. This means researching, brainstorming, mentally preparing and planning the steps you will take, as much as possible. This will give you the skills and confidence you need to succeed. Which leads to our next point…

2. Know what you want

If you are unsure about what you want from a negotiation, it’s easy to get knocked off course. Clearly identifying what you want – and what you don’t want – will help you stay on track.

3. Get your finances in order

Getting pre-approval for your home loan will put you in a strong negotiating position. It will mean you are ready to take the next step right away if everything falls into place. But remember – this does not mean rushing into any decisions. Being ready can give you leverage, but it also means you have the flexibility to say no if the negotiation does not go your way.

4. Know the market

This will give you the knowledge necessary to be informed and credible when negotiating with an agent. Spend some time watching the market to understand when prices increase, decrease or stabilise, and why. You will then be equipped to use this knowledge to your advantage.

5. Identify the property’s drawbacks

Brainstorming a list of the negative aspects of the property before the negotiation will allow you to use them to your advantage. Is there an issue with the property that the seller is underplaying? Is there something about the home that you are willing to accept but other buyers may not? Identifying this can bolster your negotiation arsenal.

6. Understand the seller

To make ground in a negotiation, it helps to understand the seller. Although there are differences between all sellers, generally there are factors beyond simply getting the best price. This gives you an opportunity to be smart. Find ways to negotiate terms that fulfill your needs while offering terms that will be favourable to the seller, such as a shorter settlement period.

7. Be willing to walk away

When negotiating, you should always be willing to walk away. If you are not prepared to walk away, you cannot negotiate from a strong position and you are at risk of settling for outcomes that fall short of your goals.

8. Get support from a Buyer’s Agent

The advice of a quality professional is invaluable for all homebuyers. Agents are experienced negotiators who see properties bought and sold every day, so seek their advice and recommendations and make sure you take them into account.