What is a Buyers Agent?
Are you buying your first home, dream home or investment property and wanting to understand what is a buyers agent? How can they help you in the process of purchasing a property?
In this article, we help you to understand what is a buyers agent, what do they do and what are the benefits of using a Buyers Agent to help you to secure a property with confidence.
Buying a property can be exciting, however, the process of purchasing a property can be overwhelming especially if you’re a first home buyer, an expat or an overseas buyer. Traditionally, buyers often rely on seller’s agents to gather property and market information.
A buyers agent is a licensed real estate professional who represents the best interests of buyers. They act as your advocates, specialize in searching, evaluation, negotiating and securing the right property at the right price. Unlike a real estate agent who represents the seller and works for their best interest, a buyer’s agent is exclusively focused on ensuring the buyer’s best interests are protected.
What do a Buyers Agent do?
When a buyers agent works with you, they will guide you through every step of the property purchasing process.
Understand your brief
It is crucial for a buyers agent to discuss and understand your property needs and goals. Their extensive industry knowledge enables them to fully understand what you are actually looking for.
Property Search
They search off-market, pre-market and on-market properties that meet your criteria. Leveraging their network with real estate agents, they are able to give you a competitive advantage to access properties that other people can’t.
Market Analysis
Buyers agents have extensive property market knowledge. Through their comprehensive understanding of comparable sales, property value, market trends and neighborhood surrounding, which offer an independent assessment of the true value of a property in the current market. This helps to ensure you make informed decisions before buying a property.
Inspection
They inspect properties on your behalf, shortlisting the properties you need to view, thus saving you time and energy. They organize inspections for you when they find the property that meets your criteria.
Due Diligence
It is essential to conduct due diligence including legal issues and various inspections before buying a property. Buyers agents guide you through these critical stages and ensure you understand the potential risks associated with each property.
They thoroughly review every aspect of your selected properties, and coordinate building & pest experts to inspect the property if needed. This comprehensive process assists you in making the most informed decision possible.
Negotiation
Effective negotiation plays a key role in securing the most favorable price when purchasing a property. Buyers agents possess exceptional negotiation skills, dedicated to securing the best possible terms and price on your behalf. They aim to maximize your cost savings as much as possible.
Settlement & Support
Buyers agents facilitate a smooth process for the contract exchange by liaising with mortgage brokers as well as conveyancers. They conduct a pre-settlement inspection to ensure you’re satisfied upon taking possession of your new property. They are there to provide support and guidance throughout the process.
The benefits of using a Buyers Agent
Having a property professional on our side can make a difference. A dedicated buyers advocate works exclusively for you to ensure that you get all of the information before making a buying decision. Here are some other benefits you would gain by engaging a Buyers Agent.
Stress-Free
Searching for and negotiating properties while dealing with real estate agents can be quite stressful. They help to ease the stress from the entire buying process and guide you through to successfully secure your desired property.
Save You Time
You can spend quality time with your family during the weekends or late evenings, instead of going out for house inspections.
Save You Money
Understand comparable sales and the competition in the market. Plus, gain stronger negotiation power that will ensure you do not overpay.
Access to Our Networks
Access to pre-market or off-market properties through their extensive networks.
Remove Emotional Decision
You won’t let emotions overtake your buying decision because you will have a professional representative to make sure you don’t overpay.
In sum up, Buyers Agents possess a deep understanding of market trends and property values, they can identify properties that align with your needs, saving you valuable time and effort and negotiating the best deal.
Navigating the process of selecting your ideal dream home or investment property can be overwhelming. Whether you’re a first-time buyer or an experienced investor, our team is ready to assist you every step of the way. Please contact us to make an enquiry.