Buying real estate is a big deal.
Regardless of how well you think you know the market or how extensively you’ve researched, every property you settle is a massive milestone.
That doesn’t mean every deal should be celebrated, however.
We all make mistakes from time to time, and when it comes to property investing, your mistakes can be extremely costly in the long run.
Enter, your safety net – also known as the buyer’s agent.
A buyer’s agent is a licensed professional who knows the ins and outs of the market.
They act on behalf of the buyer to negotiate hard, research extensively, and generally make sure the best choices are made.
Their benefits can be a little murky to quantify, so let’s dig deeper and explore what precisely a buyer’s agent can do for you
1. They save you time
In the interest of saving valuable time, a buyer’s agent can be an essential part of your property journey.
In a nutshell, they spend time researching and then searching for the type of property you’ve got your heart set on so that you don’t have to.
No more researching online on your Saturday mornings, hoping you’ll come across a diamond in the rough, because now you have a gem that can do it for you.
Once you outline the features you want – from suburb, to aspect and view, to number of bedrooms – your buyer’s agent will search on your behalf using your criteria.
The countless hours you’ll save by hiring a buyer’s agent can minimise your stress levels and maximise your chance of successfully finding the property you want – especially if you’re buying from interstate or overseas.
2. They have access to a wider range of properties
You know that old saying, "It’s not what you know, it’s who you know?"
Well, that applies to the property industry in a big way.
Enlisting the service of a buyer’s agent can open you up to a wider range of properties, some of which may not be advertised on the market – now or ever.
This puts you in a favourable position as you have access to deals unavailable to the wider public.
If you’re looking to buy an investment property, this can be especially profitable in a hot market, as your buyer's agent can pounce on deals before motivated buyers peddle prices up.
In fact well over 35% of the properties the team at Metropole have bought over the last year have been off market or pre market properties
3. They’re able to negotiate strong deals
Be honest: while you’re pretty good at haggling a discount on white goods at Harvey Norman, property is a whole new ballgame – and you’re a rookie.
When you’ve finally found your perfect property you might think the negotiations will be a breeze, but the experience can be far more intimidating than you anticipated.
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A buyer’s agent acts without emotion on your behalf, and so will be able to negotiate better terms on that deal for you.
They have much more local knowledge on what makes a fair price in comparison to the current market.
Plus, they'll ensure you don’t risk spending too much on your prized property purchase.
4. They help you choose the best property
The additional advice and expertise provided by a buyer’s agent can also help you make sure you’re not getting yourself into a lemon of a property.
While a home might seem perfect on the outside, a buyer’s agent knows what to look out for in terms of hidden issues that you might not have otherwise recognised.
Your buyer’s agent will also ensure the property you end up with is well-aligned with your specific wealth creation goals and investment strategies.
Searching for a renovator so you can add value, but get seduced by the bells and whistles of a new build?
Your buyer’s agent can keep you on track and remind you of your goals.
That way you won't be enticed by deals that may be good value, but they don’t quite match your needs.
5. They help you avoid common mistakes
Purchasing property can be a risky venture and there are plenty of mistakes that can be made.
A buyer’s agent will help by steering you away from making the most common mistakes throughout the whole process – from researching property to signing the contract – as they’re able to identify any potential red flags before it’s too late.
This is especially helpful if you’re planning to bid at auction, which can be an intimidating process.
Having someone with the skills and know-how to successfully bid for you can put you steps ahead of your competitors and take a lot of the pressure off.
While you might be inclined to avoid spending more money than you have to during your road to owning property, enlisting the help of a buyer’s agent is a hugely worthwhile payoff.
The results you can achieve from working with qualified professionals far outweigh the costs, as they can save you time, money and stress – and start you on the best path towards property success.
Now is the time to take action and set yourself for the opportunities that will present themselves as the market moves on
If you're wondering what will happen to property in 2020–2021 you are not alone.
You can trust the team at Metropole to provide you with direction, guidance and results.
In challenging times like we are currently experiencing you need an advisor who takes a holistic approach to your wealth creation and that's what you exactly what you get from the multi award winning team at Metropole.
If you're looking at buying your next home or investment property here's 4 ways we can help you:
- Strategic property advice. - Allow us to build a Strategic Property Plan for you and your family. Planning is bringing the future into the present so you can do something about it now! This will give you direction, results and more certainty. Click here to learn more
- Buyer's agency - As Australia's most trusted buyers’ agents we've been involved in over $3Billion worth of transactions creating wealth for our clients and we can do the same for you. Our on the ground teams in Melbourne, Sydney and Brisbane bring you years of experience and perspective - that's something money just can't buy. We'll help you find your next home or an investment grade property. Click here to learn how we can help you.
- Wealth Advisory - We can provide you with strategic tailored financial planning and wealth advice. Click here to learn more about we can help you.
- Property Management - Our stress free property management services help you maximise your property returns. Click here to find out why our clients enjoy a vacancy rate considerably below the market average, our tenants stay an average of 3 years and our properties lease 10 days faster than the market average.