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Who Are Property Buyer Agents And What Do They Do?

The real estate industry has grown and evolved over the past few years, thanks to modern technology. Better access to the internet has allowed smart devices to take over the market, with both buyers and sellers getting better access to property information like never before.

However, even with all these changes, seller and buyer agents still play a vital role in the transaction processes. Although you can get instant access to all the information you need as a property buyer, relying on this online data alone may not be a wise decision. There are some areas that require experience and skills, especially when bargaining for a property’s purchase price. That’s where property buyers’ agents come in handy, and this article discusses everything you need to know about a buyer agent.

Who are property buyer agents?

Also known as a property buyer’s agency, a buyer agent is a real-estate professional who has mastered the skills of searching for and evaluating properties in the market in behalf of property buyers, and they go as far as bidding for whatever asset you’re planning to purchase.

Property buyer agents work for a wide range of clients, but the main target groups include first-time buyers or those investors looking to purchase assets in an unfamiliar area. They’re also your best bet if you have limited time as one of the potential property buyers Adelaide has. So, what exactly do these experts do?

What do property buyer agents do?

A property buyer agent has several responsibilities meant to ensure a buyer’s chances of getting a good deal when looking for property.

  • Providing advice to the buyer

As a property buyer, there are a lot of things you might not know about the whole buying process. Even if you’re aware of all the steps, consulting an expert before making any huge decision is crucial. When you hire these agents, you’ll have access to unsolicited advice through the real-estate transaction.

Remember, this is one of the biggest and most important transactions you’ll ever make. Therefore, considering professional advice will increase your chances of getting a great deal. 

  • Finding property listings

As an investor or first-time home buyer, finding the right property to invest your money in can be very tricky. Going around looking for houses on sale takes a lot of time, and that might be an inconvenience to your day-to-day activities. A commercial property buyers’ agent, however, has access to a wide network of potential buyers and sellers.

This means that a property buyer agent can also find and recommend properties to buyers. Of course, they won’t just recommend whatever’s available; their work entails assessing the prospective buyer’s needs and budget and then choosing ideal options from a list of available properties. They’ll also explain to you the pros and cons of each property to help you make the right decision.

  • Negotiating offers

Another function of these professionals is negotiation of offers. They will assess the value of the house you’re planning to purchase and recommend the best price. Once that part is done, they’ll then go ahead and negotiate with the seller on your behalf. Given their experience in the market and the fact that they’ve interacted with many clients, you can rest assured that you’ll get the best deal possible.

  • Referring other professionals

When planning to buy a house, there are many people that you’ll need for the transaction to go smoothly. You’ll need a home inspector, professional movers, a mortgage broker, and a real estate attorney.

A good property buyer’s agent should have a network of these professionals such that they can connect with one as soon as you need them. Their experience in the field and the extent of their network should also give you an idea of how well-connected they are, allowing you to differentiate between a good real estate professional and a mediocre one.

Conclusion

Property buyer agents are among the most important professionals you should consider working with as someone looking for property. They are trained to search and evaluate real estate properties and help buyers have easy access to these assets. If you’re a first-time buyer or have limited time at your disposal, then hiring these professionals is a great idea.

Property buyers agents go beyond just checking out the best properties; they’re also essential in finding other people that would help you inspect, purchase, and move in to your new property. Whether you’re looking for a new home or a commercial spot for a new business, you can’t go wrong with hiring a reputable agent.

Reference

“Buyer’s Agent Role: 6 Tips For Finding The Right Buyer’s Agent.”, Source: https://www.masterclass.com/articles/buyers-agent-explained

“How A Buyer’s Agent Can Help Your Home Search.”, Source: https://www.nerdwallet.com/article/mortgages/buyers-real-estate-agent

“What Is A Buyer’s Agent? A Trusted Guide Who Will Help You Find A Home.”, Source: https://www.realtor.com/advice/buy/what-is-a-buyers-agent-used-for/

CategoriesBlogs

5 Reasons To Hire A Property Buyer’s Agent

There are many reasons why you should buy a home or property. Some of them are the feeling of a proud homeowner, smartly spending on an appreciating investment, mortgage interest and property tax deductions, capital gains exclusions, preferential tax treatment and equity.

Because of those reasons, it’s crucial that you only buy the right property for you. And to make that possible, you need to get the help of a property buyer’s advocate.

Many consider these advocates as a property buyer’s secret weapon. Their main job is to guide property buyers Sydney who wish to get the most out of their money. They often work in opposition to real estate agents, who primarily care about the sellers and search property buyers for them.

If that isn’t enough reason to hire one, continue reading to know the other reasons why you need to hire a property buyer agent.

  1. Provides you with the real estate knowledge you may lack

You may already know too well that real estate can be a complicated topic. And if you’re a buyer who doesn’t know much, you’ll automatically be at a disadvantage and you might even become prone to malicious individuals who may scam you out of your hard-earned money.

A property buyer agent can supplement you with the necessary information and knowledge. In addition, it includes information on what property buyers need to know about making a pre-auction offer. They allow you to be on even ground with sellers and protect you from con artists.

  1. Lets you gain access to unlisted properties

Buyer’s agents have an intelligence network you should exploit. This network allows them to be aware of potential sellers who may be planning to sell their properties later. In addition, they are privy to information about private individuals selling their homes but don’t want to deal with the trouble of listing them on the market.

With a buyer’s agent, you can access their property checklist for buyers and expand your buying options.

  1. Tips you off with important market trends

Currently, this year has been good for Australia’s housing market. In June, the housing market activity in the country reached the highest mark, which has been mediocre for more than a decade. This means that the market favours first home buyers – even seasoned foreign property buyers Australia – and according to experts, it will improve three more times before the year ends.

However, given these positive trends, you still need to get a property buyer’s agency to help you take advantage of sudden spikes in the market. In the same way, they can help you optimise the money you have set for your property.

  1. Helps you with the negotiation phase

Once you find the existing property you like, you’ll undergo negotiation before you go ahead with the next step, which is contract signing. It’s always recommended that you get the help of a property buyer’s agent at this stage, as you’ll often deal with a real estate agent instead of the actual seller.

Remember, real estate agents are good with negotiation and give the advantage to the seller without you knowing it. They can stir your emotions and make you think you have the upper hand in the negotiation. Moreover, a buyer’s agency can shield you from those tactics and keep your emotions in check. Aside from that, you can also let them represent you during the negotiation if you don’t have time to deal with it or are not confident enough to go through it.

  1. Assists you in dealing with real estate contracts

A contract for the sale of real estate – referred to as a real estate contract in other countries – is a key document you must sign when buying or selling real estate property in Australia. To prepare this, a seller needs a qualified solicitor or licensed conveyancer. Typically, it’s drafted before a property’s listed on the market.

While it’s not your responsibility to draft the contract, you should be keen on reviewing the content before signing them. A buyer’s agency can help you deal with those contracts, preventing you from signing on to a bad deal.

Conclusion

Those are the top reasons you and other Australian property buyers need a buyer’s agency when buying a real estate property. They will guide you through all the process, allow you to expand your buying options and protect you from a bad deal. You can get the most out of your buck during a real estate transaction for a relatively small price.

References:

  1. Weintraub, Elizabeth, “8 Reasons to Buy a Home,” The Balance. The Balance, November 10, 2021. https://www.thebalance.com/eight-reasons-to-buy-a-home-1798233
  2. Chapman, Alex, “Is the Housing Market Finally Shifting? Promising Signs Not Seen for a Decade,” 7NEWS, July 16, 2022. https://7news.com.au/business/housing-market/housing-market-activity-in-june-highest-mark-for-month-in-more-than-a-decade-research-finds-c-7507263
  3. [email protected], “AICSA: About the Contract Sale of Land,” Australian Institute of Conveyancers, June 17, 2022. https://aicsa.com.au/contract-of-sale/