Buying a house can be one of the most exciting times of your life. It can bring with it a great sense of achievement.
Especially after you’ve spent years working towards the goal of saving up for a deposit. But without professional advice, the process of buying a house can take even longer. All the time and stress involved in looking for a house can take its toll. Luckily, a Buyers Agent can help solve these issues for you.
Searching and finding the perfect home comes down to knowing what you need and what you’re willing to spend. You also need to have a good idea of what’s going on in the property market when you’re ready to purchase the property. Property sellers have real estate agents working hard to negotiate and find the best sale price for them. There’s also plenty of other keen buyers ready to compete against you.
So are all the odds stacked against you when it comes to the property market? It can certainly feel like that sometimes. That’s why it’s no surprise that more people are choosing to hire a Buyers Agent for help. It can be a really positive boost when an experienced real estate professional is on your side.
What does a buyer’s agent do exactly?
A Buyers Agent is generally hired for someone purchasing a home. They are licensed professionals dedicated to protecting your interests.
A Buyers Agent will help you buy what you need. They will strive to get you a property at the best possible price with the best terms on offer. They do all of this for you while providing unbiased advice. Unlike a real estate agent, they are not trying to squeeze every last cent out of you to finalize a property purchase.
Why should I pay a fee for work I can do myself?
When you think about the time and effort a buyer’s Agent puts in you’ll soon realize their true value. It also takes a lot of industry experience for a Buyers Agent to work as efficiently as they do. They are well versed in all the tricky circumstances that may arise and know how to make a property sale work best for you.
Benefits you should consider:
- The extensive research a Buyer’s Agent performs can save you an incredible amount of time and money.
- They take the nerve-wracking aspects of the search process out of the picture for you.
- They handle all the exhausting parts of finding a home such as attending open inspections
- Their network of contacts gives you access to more off-market options you would have missed on your own
Shouldn’t everyone be using a Buyer’s Agent?
In many overseas markets it’s completely normal for people to use Buyers Agents. Popularity for using Buyers Agents is slowly growing in Melbourne and Sydney. It’s currently estimated that 1 in 5 buyers are engaging in the services of a Buyers Agent or seeking professional industry advice from them.
How do I find a good Buyer’s Agent?
Like any other professional service, it’s best to choose carefully. Not all agents are the same. Look out for the following qualifications when you’re choosing a Buyers Agent:
- Is your buyer’s Agent a fully licensed Real Estate Agent?
- Does your buyer’s Agent have professional indemnity insurance that’s up to date? Without either of these, your property purchase won’t be protected and you will have no recourse.
- Are they dedicated Buyers Agent? Make sure that your Buyers Agent isn’t part of a real estate agency. This could represent a conflict of interest that won’t work in your favour.
- Does the Buyers Agent specialise in particular suburbs and your price range?
- Do they have access to off market sales?
The Best Buyers Agents going around tend to have long-standing relationships and a wide network of professionals they can count on to narrow down your search. They should also have access to an extensive list of properties that are not promoted to the general public.
How much can I expect to pay for a Buyer’s Agent?
It’s pretty common for a Buyers Agent to charge an engagement fee of $1000. This fee is generally rebated back to you after a successful property acquisition.
You can also expect to pay a success fee. This fee is usually charged when the Agent has found the right property for you and has carried out negotiations on your behalf. These fees can be fixed or they end up being a percentage of your new home’s purchase price.
Your Buyers Agent Fees should cover the following services:
- Referrals to legal and finance professionals
- All property searches and real estate agent meetings
- Using a Buyers Agent database
- The valuation of properties using current sales data
- Communicating with your accountant, finance broker, and solicitor
- Arranging checks like building and pest inspections
- Reviewing contracts
- Carrying out pre-settlement inspections
So if you’re thinking about buying a home, think about all the advantages that come with using a Buyer’s Agent. Using one could save you valuable time, money, and stress in the process. Visit Wise Real Estate Advice for more handy tips about buying property.
