We all know someone who’s purchased property themselves. It could be a friend or relative. After seeing people buying their own properties you may be asking yourself “why do I need a buyer’s agent when I can take care of the whole buying process myself?” It’s a great question to ask and there’s today there are still many reasons why you should consider one.
First, let’s talk about what a buyer’s agent actually does. In the simplest of terms, a buyer’s agent is a professional buyer of real estate. These real estate professionals can help you take care of all the property searches for you. They can find a house that best suits your needs and help negotiate to buy a property at the lowest possible price.
Unlike a real estate agent, a buyer’s agent works for you. They are committed to finding you a house that represents the best features and value for money.
Top Reasons To Use A Buyer’s Agent
Being Time Poor:
Today you’ll find many people are very busy. As a working professional, it can be hard to find the time to look for an ideal home or investment property. In order to understand the local property market and what’s available it can be very time-consuming. It can take up to 100 property inspections until you really know what an area is like.
So if you manage to see 10 houses in a week, that’s at least two to three months of property inspections you’ll need to do. Buyer’s agents can do all of these inspections and property searches for you. They can quickly eliminate 80-90% percent of the properties that you would have wasted good time inspecting when you didn’t need to.
Good Properties Will Always Sell Well:
Many individuals will be looking for the same features in a house that you are in. You’re not the only one looking for something that may be close to work, schools, transport, and leisure facilities. So when a good property comes up, there’s a good chance it will tick the same boxes for other people that you had in mind.
The increased demand for good houses means that when you do find one there are fewer chances of you securing it. Even if you win an auction there’s a good chance the house will be sold at an inflated price. A buyer’s agent can help you to find a good property sooner and secure it before the demand for it gets too high. Also, if you’re looking to raise funds in a short span of time to buy property at an auction, you can check out this auction finance guide to help you out.
Buyer’s Agents Know About Off-Market Properties:
It may surprise you to know that many properties get sold without hitting the general market. These off-market properties are not seen on property listing websites and are often referred to as silent sales. There are many reasons why a vendor decides to sell off the market. Here are some of the main reasons why:
- They don’t want the neighbors knowing about the sale
- Owners going through a divorce and want privacy and speed
- Owners have already found their next property and need to move quickly
- They only need a certain figure
- They do not have the budget to market the property
Sales agents often bring their silent sales to buyer’s agents they know and trust. It’s because they’re aware that buyer’s agents have a list of pre-qualified buyers who are keen to purchase a property fast. This process of reaching out to a buyer’s agent is also a lot faster than having to give silent sales to the general public because there may be so many people who don’t have a genuine interest in the property.
Think about the experience of a property buyer compared to that of a buyer’s agent. Your average home buyer might buy a property once every three to five years. Alternatively, a buyer’s agent buys property daily or weekly. A buyer’s agent will always be more skilled and experienced with negotiation.
Any skill like negotiating during an auction takes years of practice to master. So it stands to reason that a buyer’s agent is one of the best professionals you can count on during an auction. They know when to bid at the right time and when to pull out of an auction so you don’t pay too much for a house.
Visit www.buyers-agents-melbourne.com.au/ to speak with an experienced buyer’s agent today.