A Look At The Importance Of Having A Buyer’s Agent
Purchasing real estate, whether it’s a home or investment property, is an exciting and important process. I have seen anxious buyers try to buy real estate on their own and some are still searching after 2 years – in Sydney real estate this has equated to $100,000’s of dollars of missed equity as the market has bullishly gone up in value. With that said, I would like to discuss about what a buyer’s agent can do to assist you on your property search.
Whether you are an investor or an owner-occupier a buyers agent can assist you to buy well, especially for the time poor. Life in Sydney for many of us means running around town taking kids to sports on Saturdays or working really long hours midweek, the time to source and secure a great property is extremely consuming in our busy worlds and if not done correctly can end in missed opportunities or missing the market.
When making the decision as to whether or not to hire a buyer’s agent, buyers should keep the following things in mind. Then ask yourself again if an agent will benefit you in your search.
Knowledge of the Market
Sydney is one of the hottest property markets in Australia and professional buyer’s agents know the area well. They have the knowledge, expertise and experience to work with you and ensure you are shopping in the right places. Buyer’s agents get to know the agents and often get a different level of information to assist you in making the right decision.
- Prices and underquoting – You only need to look at homes that fit your budget, but how do you do this with all the under quoting that goes on. You don’t have time to waste viewing properties and possibly falling in love with something you can’t afford it. A good buyer’s agent will understand pricing and save you time by not going through properties that are out of your price range.
- Off Market – Sourcing off market and pre market property is imperative to a successful property search. A good buyers agent will be connected with agents to ensure that no stone is left unturned in this department.
- Context – A good buyers agent is continually looking through property so they will be able to provide you with context in terms of similar properties being sold this perspective will make it easier to make a decision.
- Auction – Most buyers are horrified at the thought of going to auction they feel out of their league and nervous about how to bid successfully. A good buyers agent will firstly have a strategy to buy prior to auction but will also feel comfortable bidding on the day.
Overspending and failure to know the best deals for a property is a huge risk for buyers—especially those who lack experience, are new to buying real estate property, or go at it alone. This is a major consideration for buyers when it comes to deciding whether or not to hire a buyer’s agent. Buyer’s agents are usually well-versed and updated in property listings and prices and have the negotiating skills to help you get the best possible deal for the property you’re eyeing. With a buyer’s agent, you’ll also be able to save time and effort in searching for properties that meet your wants or needs and your budget.
If you are looking for a property that is to be auctioned, a buyer’s agent will help you find price estimates and can also bid on your behalf. This not only saves you time—you may also have a better chance of winning the auction with strategies used by a professional who knows the ins and outs of property bidding.
Are you relocating due to a job or another important reason? Maybe you are looking for an investment in Sydney, and you live a good distance away. In such cases, a buyer’s agent can act as your local representative—someone who will gather facts about available properties, provide you with up-to-date information, and seek out investment opportunities you might be interested in. You will only have to travel when necessary, saving you time and money.
As with business and real estate transactions, paperwork plays a major role in the completion of a deal. I’ve seen too many real estate deals fail because the paperwork was done incorrectly—a major risk for those new to real estate dealings. This is another area where a buyer’s agent can really help you out. They’re familiar with the many forms, contracts, and other paperwork involved in real estate deals and will make sure that everything is filled out thoroughly and correctly. What many people don’t seem to understand is that one small mistake can cost lots of money or even the deal itself.
These are several of the reasons why having a buyer’s agent is beneficial. We at Flint Property have a combined 23 years of experience buying and selling in Sydney’s competitive market and are willing to help those looking to purchase property, easing them through the process and guiding them towards the right real estate purchase for their needs. If you’re interested in getting help from a buyer’s agent, don’t hesitate to email me and I’m sure we’ll be able to work something out.