simplyaskit meets Buyers Agent Michael Ossitt from STRAND Property Group
What is your occupation and what services do you provide?
Buyer’s Agent and Property Investment Advisor
What is the name of Business?
Where is the business located?
How long have you been in the real estate and property industry?
What is the role of a buyer’s agent?
A buyer’s agent is a licensed real estate professional who works exclusively for the buyer and acts on their behalf to search, evaluate and negotiate a property purchase.
In terms of real estate agents and buyers agents what sets you apart from your competitors and how you add value to your customers?
Buyer’s Agents are becoming more popular, especially for people who are time poor and value the expertise that a professional advocate can offer them. It should be remembered that a selling agent is getting paid by the vendor and so they have a duty of care to put the seller’s best interests first. As an exclusive Buyer’s Agent, we get paid directly from the buyer and we act in their best interests in a real estate transaction to level the playing field. We add value by saving the client hundreds of hours or research, finding available properties, shortlisting suitable options, physically viewing and appraising them, carrying out due diligence and then negotiating the purchase with the selling agent. At STRAND Property Group, we also provide Property Investment Advice for clients who are looking to build an investment portfolio and need help to map out their financial situation, acquisition strategy, and long-term cash flow forecasts.
What type of customers would you consider to be your ideal client?
We deal mainly with professionals who work in Sydney and also Australian expats currently working overseas in places such as Hong Kong, Singapore, and London. We specialise in helping clients buy their next home or investment on the Lower North Shore and Northern Beaches of Sydney.
What role does communication play in helping you operate a successful business?
I think communication is critical in any business and we ensure that we liaise with our clients regularly from the start of the engagement right through to completion. We also like to keep in touch with our clients after they have purchased to monitor how their investment portfolio is performing. When we are searching for properties for clients it can take time depending on the number available on the market. If we don’t have any shortlisted properties to present at the end of a week, we still communicate with our clients to let them know what we looked at, what we didn’t like and why. It’s better to communicate regularly, rather than not at all. In saying that, businesses should be aware of how often their customers want to be contacted, we have some clients who want to know what’s going on all the time, and some that only want to be notified when we have an opportunity ready to go.
What’s the most important lesson you’ve learned in business?
As a business owner you start off doing everything yourself, but over time this isn’t sustainable. You need to be ready to employ additional help with regular tasks to free up time to spend on things that you need to drive forward, like winning new business and serving current clients. I’ve also learnt that you can’t know everything in business, so seeking help and advice from other experts is also important.
What’s the best piece of advice you’ve received?
Follow your passion! Don’t waste your working life doing a job that you don’t enjoy. Work out what you would jump out of bed every day and do, whether you got paid for it or not and create a business around that. If you enjoy it enough, can add value to others then the business will be successful.
What are your favourite hobbies?
I like to spend my weekends getting out and about on the Northern Beaches with my wife and daughter, and sometimes find time to get a round of golf in!