Why Use a Buyer's Agent?

In today’s world people are overwhelmed and time poor.

Our lives these days are very busy, finding time to look for that desirable home or investment and having full knowledge of what’s available on the market and the current market price properties are selling for takes a lot of time and research. It can take over 50 property inspections to get a good knowledge of an area. You may mange to look at a couple of properties a week, but in the meantime, you are missing out on new opportunities. Buyer’s agents can streamline the process and help you find your ultimate property. They will filter through the best properties on and off market to help you make the right decision.


High-grade properties always sell.

Many people think they are unique in their property journey, but many buyers are often looking for similar priced properties in similar areas that are located close to work, schools, public transport and public amenities. Therefore, when a good property comes up that ticks all the boxes, there’s lots of competition for it, regardless of the local market conditions. That heightened demand diminishes your prospect of you securing it when you do find it. Unique and sought-after property will often go to auction, if you are fortunate enough to secure it, it’s often overpriced. Buyer’s agents can assist you to find that property earlier and try help secure it before the demand gets too high.


Buyer’s agents have access to off market properties.

Many properties get sold without hitting the general market and are not seen on property listing websites – these are called silent sales or off market. Why would a vendor want to sell a property without going on the market? They might:

  • not want the neighbours knowing their property is for sale,
  • be going through a divorce or separation and want privacy and a quick sale,
  • have financial difficulties and would like to generate capital without relocating,
  • have found another property and need to move quickly,
  • not have the budget or confidence for a full advertising campaign

Sales agents will often bring off market properties to buyer’s agents they know and trust, as they’re aware they have a list of pre-qualified buyers that are keen to buy the right property. It’s harder for sales agents to provide off market properties to the general public as they need to deal with many more people and it’s difficult to establish who the serious buyers are.


Buyer’s agents are great negotiators.

If the average buyer only buys a property once every five years and a professional buyer’s agent buys daily or weekly, a buyer’s agent is far more exposed and experienced in negotiation. Any skill takes practice – the more times you negotiate, the more you experience different ways a negotiation can go. Over time you learn to avoid the classic mistakes and have a much better chance of securing a property at the best possible price.


Buyer’s agents are unemotional and objective.

 

As buyer’s agents are not going to live in the property and transact multiple times, they are often less emotional than buyers when purchasing property. Therefore, it’s harder for the sales agents to put emotional pressure on them to pay more money. Buyer’s agents will buy properties based on comparable sales prices of similar properties that have recently sold. They will be more factual and base their decisions on research and professional valuations.


Buyer’s agents have great collaboration.

As buyer’s agents deal with sales agents every day, they build up a trusted professional relationship. They will have dealt with many properties together and built a mutual understanding of how they like to do deals. A professional sales agent would not want to jeopardise a long-standing working relationship with a buyer’s agent. A sales agent can still sell properties to the general public. But it takes them much more time and effort to deal with lots of individual transactions from multiple buyers. Sales agents will often give vital information to buyer’s agents that they may not share with the general public such as the vendor’s circumstances, other comparable properties in the area or potential areas of concern. This can give you the inside track on whether to walk away from a potential headache or how to secure it under more preferential terms.


A buyer’s agent has local expertise.

A buyer’s agent will often be an expert in the local area and that information can be imperative in knowing things like which is the better and, more expensive side of the street. They’ll often also know which buildings or streets might have a bad reputation or are harder to sell. Unfortunately, first impressions don’t always make the best investments.


It’s not always about price

A buyers Agent will often find it’s better to secure a property that ticks all the boxes at a fair price than a property that has some major flaws that you pick up cheap. A cheap property will often require continual maintenance. It will also be hard to sell. However, good properties can always fetch a premium. Buyer’s agents help you to focus on what really matters.