Traditionally, when looking to purchase a property you would just do it by yourself and/or with the help of your partner, family or friends.
This typically meant countless hours viewing properties and visiting open homes until you found something that you liked and then negotiate a sale price to secure the property or bid to win the auction.
As times and real estate have both changed, so too has the process of buying a property.
This is where you can now use a buyers agent to help you purchase your property.
Essentially a buyers agent is a real estate agent but in reverse.
So while a real estate agent works for the vendor, a buyers agent works for the buyer.
So what exactly does a buyers agent do?
As the name suggests, buyers agents help people buy property.
So if buyers agents help people buy property, it would be fair to say that they’ve learnt a thing or two along the way.
Most people have either never purchased or purchased in the past, forgetting the stress and emotion that usually goes hand in hand when looking to buy (and sell).
This is where the power of knowledge comes into play.
Because buyers agents do what they do professionally, they generally know what to expect, what can happen and what’s likely to happen.
They know the best steps and processes that you can put into place to better position you to secure the property that you want.
They know how to gauge and profile the property’s level of interest.
They watch the market and how it’s performing to get a better idea for current market pricing to help ensure that you don’t pay too much.
They can also help to show you your alternative options that you may not have otherwise considered.
Having a buyers agent on your side also helps to alleviate and minimise the stresses of buying a property.
They know what questions to ask and what concerns to address. They also help with the overall commercial decisions that need to be considered, analysed and assessed when looking to buy.
Unlike buyers looking to purchase a home, buyers agents are emotionally detached and view the purchase as a commercial decision while still keeping your best interests in mind.
They’re the go-to, level-headed figures when it comes to decision making.
They know what to expect, what to avoid and the best strategies to apply to ensure a successful purchase.
Because you’re not directly involved in the negotiations (the buyers agent handles the bulk of that on your behalf), the selling agent doesn’t know your exact intentions or true desire to buy.
This can help to position you in a way where you’re not overly exposed to paying more than required to secure the property purchase.
They can also help to decipher the urgency or even the delay to correctly purchase.
By using a buyers agent, you capitalise on their knowledge and leverage their experience.
And yes, while buyers agents will cost you, you’re paying for the value they add.
This can help you tremendously.
Like anything, you go to a specialist when you need something done correctly, even if you can do some things yourself or could get done with minimal expense.
For example, if you have a sore back, your partner may give you a massage but it wouldn’t be massaged in the way a professional masseuse would.
You could cook at home, but it mightn’t taste like that of a meal prepared by an executive chef of a fine dining restaurant.
You could make a coffee at home, but it wouldn’t taste like a coffee made by a barista at your local café.
The point is good specialists know to get beneath the surface to provide a better result.
Whatever that might look like.
Buyers agents are another specialist.
They buy properties as a profession, so while not always perfect, they’re less likely to make costly mistakes as they’re equipped to regularly do what most people will only do a few times in their life.
In turn guiding you on the right path, ensuring your decision is as good as it can be.
Tip – Great buyer’s agents know how to spot underutilised and undervalued properties a mile away. Great buyers agents spot value-adding opportunities that you wouldn’t have otherwise seen, known of or understood. Great buyer’s agents will act as your personal, trained eye.
Another benefit to buyer’s agents is the time they save you.
Juggling a demanding career?
Hands full with family?
Don’t have much time to yourself?
If you’re already stressed, overworked or time poor in your current situation, how will your decision making be affected when looking to purchase a property?
Buyers agents better understand and specialise in the mechanics and fundamentals behind the property buying journey.
Not only that, but they search, shortlist and attend to the properties viewings and assist in the negotiations come sale time.
Looking to sell, buy or lease? Click here to contact John
This information is of a general nature only and does not take into account your objectives, financial situation or needs. We are not financial, legal or tax advisers. You should seek appropriate professional advice specific to you before acting on this information.
