More Buyers are Securing a Professional Advantage!
Long popular in the United States, buyer’s agents are becoming increasingly popular in Australia too, as more buyers see what tremendous value there is in having a knowledgeable professional acting and advocating for them. Here’s what to know and what to look for.
A decade ago there were only a few buyer’s agents operating in Sydney and they were largely considered (rightly or wrongly) the domain of the wealthy. Today, more and more buyer’s agents are popping up in Sydney and elsewhere, as buyers at all price points cotton on the huge benefits using one can achieve.
Not just for the wealthy
There’s a common misperception that only well-off people use buyer’s agents but this is simply not the case. Buying a property is a huge investment and getting it wrong can be costly. Investing in a professional property buyer, who knows the market inside out and has an extensive network of contacts and a wealth of knowledge to draw upon, will almost certainly save money, even when their fees are factored in. It’s also the most likely way to secure your dream home or investment property in a competitive market.
Getting it right
It’s important to remember that good property investment isn’t only about saving money or securing a ‘bargain’, however, but about getting the right property, at the right price, at the right time – for your unique needs. A good buyer’s agent will consult with you extensively to figure out what you hope to achieve and will have the experience and market knowledge to find the property – or properties – that ticks all the right boxes.
Why use a buyer’s agent?
Buying a property can be an incredibly time consuming and stressful experience. With so much at stake it’s easy for the novice to miss important details that could have huge consequences later. An experienced buyer’s agent can transform the process into a seamless, stress-free one, and achieve a far better result. They may know about off-market properties that are unique or in need of a fast sale, for example. What’s more, a great buyer’s agent will go above and beyond the one real estate transaction, guiding you to figure out your long-term property-related goals and strategy.
On the auction block
Televisions shows like The Block and Location, Location, Location have played a role in the rising popularity of buyer’s agents, by showing them in action at auctions, highlighting their value as audiences witness the results they can achieve.
The auction process itself can be fraught with pitfalls. Most people will only buy at auction a small handful of times, if that, in their lives. A buyer’s agent, who has done it dozens or even hundreds of times, knows all of the traps and has a multitude of strategies to put in place for success. They’re also emotionally detached – they are simply there to achieve the best outcome for their client – and that in itself can avoid many common mistakes, particularly those made by first-time buyers.
What to look for in a buyer’s agent
With more buyer’s agents popping up all the time, it’s important to make sure that you’re engaging a true professional with a proven track record. They should have several years’ experience – at a minimum – in the specific area that you want to buy. Check that they are appropriately licensed and insured with the relevant professional qualifications and ask about their most recent purchases and reviews. They should ideally also be a member of the Real Estate Institute in your state or territory.
Want to save tens of thousands of dollars on your next property? Use an experienced negotiator from TBAS® Buyers Agents.
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