Recently, many home buyers have come to the realisation that in order to secure the best possible house for an ideal price, hiring someone that knows the property market inside out is the only way to go.
Imagine all of that stress lifted off your shoulders and placed into the hands of a real estate professional who’s only goal is one thing – to find you your dream home.
So, what exactly does a buyer’s agent do? To simplify this, let’s delve into what the normal day looks like from the perspective of a buyer’s agent.
1. Act as if they are the buyer
Essentially, a buyer’s agent needs to put themselves in the buyer’s shoes in order to get the best possible outcome for their client.
Before the search begins, the buyer’s agent will clarify your needs and work out a strategy. This includes things like the type of property you want and does it align with your future goals, your budget and timeframe.
When we say a buyer’s agent acts as the buyer, this means everything from attending home opens to scrolling through hundreds of potential properties online, so you don’t have to.
2. Keep their client in-the-loop
One thing high on a buyer’s agent’s agenda is working closely with you, the buyer. They will put aside time out of their day, regularly, to contact you.
A buyer’s agent will give you constant daily updates, discussing any potential properties with you and helping you understand the pros and cons of each.
3. Research, search and more research
Besides already having a sound knowledge of the real estate industry and current market trends, a buyer’s agent will also put in the hard yards to actively spend hours researching.
This may include checking the future potential of the area that match your needs, as well as whether it has the facilities you require and is within your budget.
Another advantage of using a buyer’s agent is their ability to search through their databases to gather and shortlist the best properties that can be presented to you in an easy way.
This alone will save you time, especially if you are unsure of what you should be researching.
4. Always make contacts
Something that is gaining momentum is selling off-market properties. Some buyer’s agents have access to listings which are not publicly advertised, thanks to the many industry contacts they have.
Having contacts within the real estate industry will give you leverage when it comes to finding the right home at the right price.
A buyer’s agent is constantly building relationships, even with seller’s agents, which can be useful in amplifying your property search.
5. Be the negotiator
The negotiation process can let down a lot of prospective buyers, simply because they have a lack of understanding of the real value of the property to begin with and are often left disappointed when their offer is rejected. Alternatively, some buyers find out later down the track that they ended up paying much more than the property is worth.
A buyer’s agent will remove any guesswork and accurately assess the price of the property, using pricing and sales information not available to the general public as well as comparing the property to others recently sold, so you don’t pay too much.
From here your buyer’s agent will negotiate with the selling agent, to get you the best price and ensure you have the best terms and conditions in your contract that look after you.
Your buyer’s agent will also enforce your rights all the way to settlement, which buyers often let slip because they don’t know what they are entitled to.
At the end of the day, a buyer’s agent understands that purchasing a home can be emotional, especially when things are stressful or don’t work out, which is why they work purely to achieve the best possible outcome for you.
If you want to learn more about property investment strategies, or you’d like to clarify your investment strategy and goals, why not complete our Getting Started form to get the ball rolling.
We can help you unlock the potential of the real estate market for your family through savvy property selection, negotiation on price and conditions, development expertise and the magic of robust research.
Regardless of market conditions, our research, local knowledge, and access to silent sales means we find the hidden gems that can outperform the market in capital growth and rental returns for long term wealth creation.
Importantly, we’re able to provide property investors and homebuyers with the same level of representation that property sellers have benefited from for years.
Your property portfolio is your path to financial freedom and the lifestyle you’ve been longing for.
Property Wizards takes away the stress of buying a property and saves you money at the same time. We can show you how, or you can sit back and let us do all the hard work for you.