One of Australia’s biggest buyers’ agencies Cohen Handler, says the way Australians buy property is changing dramatically.
The Sydney-based agency has reached a new milestone, purchasing a total of $2 billion worth of properties since the company launched in 2009.
Starting with $5,000, Cohen Handler has grown from two people in a bedroom to 50+ staff members across six offices in three states (Sydney, Brisbane and Melbourne).
The agencywas founded by both Ben Handler and Simon Cohen who saw a gap in the Australian property market, and sought to make the process more balanced.
In the US, 80% of buyers enlist in the help of a buyers’ agent when they look for property — the figure is much lower in Australia.
This $2 billion milestone points to a shift in how property is bought and sold in Australia, and how buyers are getting help to secure the best deal.
“When we first started Cohen Handler, our friends and family thought agents that represent the buyer in the real estate process would not work in Australia,” said Ben Handler, co-founder and CEO.
“We thought differently. Since 2009, we have saved our clients approximately $200 million. This is a testament to the fact that Australians are beginning to understand the benefits of having a buyers’ agent by their side at every step of the property purchase process.”
In 2016, Cohen Handler expanded its presence and opened new offices in West and Inner West Sydney to pre-empt the growth in those areas, which they predict will outstrip traditional ‘boom’ suburbs.