Buying a house is one of the biggest purchases that a person will make in their lifetime but using a buyers’ agent can save you emotional stress, time and money whether you’re buying a family home or purchasing an investment property.
A buyers’ agent has an exclusive relationship with you and is acting for you and you alone. A real estate agent on the other hand is acting on behalf of the seller and the buyer but ultimately has the seller’s best interests at heart.
The buyers’ agent will be working hard to get you the best price for the property and there will be no behind the scenes collusion with the real estate agent or the seller. Buyers’ agents work independently of the seller and they receive no commissions or kickbacks from sellers or their agents.
A buyers’ agent will sit down with you and find out what your budget is, your preferred location and other essential criteria such as having a view or being close to the beach. If your search criteria is unrealistic for your price range, the buyers’ agent will tell you straight away and save you months of frustration looking for a property that simply doesn’t exist in your budget.
The buyers’ agent will view the properties first and only show you properties that fit your search criteria and you have access to a wider choice of properties through their contacts and networks that may not even be advertised.
You don’t have to spend your Saturday mornings trying to race from one property to another. A buyers’ agent will arrange appointments to inspect properties at your convenience.
A buyers’ agent knows the property market inside and out. They have research on the hotspots, the locations that are accruing the highest capital gains or have low vacancy rates. They are watching the market, aware of any trends and have access to resources which tells them what similar properties have sold for in a particular area, what the true value of a property is and how much they should offer for a property to secure a sale.
The fee for a buyers’ agent is negotiated before the sale of the property and it will either be a flat fee or a percentage of the cost of the property depending on the buyers’ agent’s sale structure. For investors, buyers’ agent’s fees are tax deductible.
More negotiation power
A buyers’ agent is a skilled negotiator. A buyers’ agent may offer different services such as finding a dream property that fits your search criteria, negotiating the price of a property that you have found through your own means or acting on your behalf in an auction.
When you use a buyers’ agent to buy a property, you can be confident that it has been bought at the best possible price (as determined by market conditions). You can also sell the property with confidence knowing that you have not paid over the market value.
Peace of mind
Buying a house can be very nerve wracking with a lot of emotions on the line. With a buyers’ agent, you can have the peace of mind that a buyers’ agent is acting on your behalf. The buyers’ agent can guide you through the transaction, lead you through any legalities and hold your hand throughout the whole process.
Buying a house regardless of whether it’s an investment property or family home should not be an emotional investment. Using a professional who is independent of the sale takes the stress, worry and emotions out of buying a property.
People believe that using a buyers’ agent is expensive but it can potentially save you thousands of dollars. A buyers’ agent save you time, they can draw upon their networks to find properties that are just listed on the market, use their expertise and knowledge to buy a property that is a sound investment and negotiate the best possible price for the property.