When making a serious purchase such as an investment property, having someone in your corner to broker the details of a winning deal can only be advantageous. This is the role of the Buyers Agent.
Working for a fixed fee or commission, a buyers agent acts as the middleman between the real estate agent and the buyer, ensuring their client gets the best deal possible and won’t be caught out after the dotted line has been signed.
Although more popular in the United States, buyers agents are quickly gaining popularity here in Australia, especially for those looking to increase their property portfolio and purchase properties outside of areas they are familiar with, but offer a strong return on investment.
Here are some of the top advantages of engaging a buyers agent for your next property purchase.
They know the market
One of the most obvious reasons to hire a buyers agent when buying a house is that it saves you time because they know the market, the agents, the properties available, and how to spot a good deal. Rather than spending hours searching online for available houses, a buyers agent can present properties that meet your desired criteria and may even have access to homes not yet publicly listed.
They know what to look for
A buyers agent is experienced at inspecting properties and is more likely to identify any potential issues or red flags. They look at houses daily and know what makes a house a solid investment compared to a potential money pit.
They know the best areas for investment
Buying a house as an investment has its own set of considerations, compared to buying a house for redevelopment, a family home, or your first home. A buyers agent will be able to offer advice on the best suburbs for investment properties as they will understand which areas are showing strong growth and rental demand. They will also be able to advise any areas that are ‘up and coming’ and help find a strong investment that could pay off in the longer term.
They can negotiate a price that works to your advantage
Part of knowing the market, is knowing what’s a good price for the property you are considering. They will also be able to work with the seller and seller’s agent to negotiate a price that works for both parties and keep the cost of your investment down.
They can help with all the final details
Once you have found the perfect investment you will need to organize and confirm finance. A buyers agent can also help with this process as well as contract approval, and making sure you are protected. Having someone there to do all the hard work of negotiating, checking details, and identifying issues can make the process so much smoother and potentially faster.