The #1 Mistake Buyers Make

Recently I signed up a lovely couple who were looking to buy a property in Newcastle. They live in Sydney and were looking to buy a home they would rent out for the next 12 months then move up and live in the property. Their budget was $900,000.

We looked at a few properties over a couple of weeks and they mentioned that before they had engaged me, they had seen a property online that they were interested in but it was listed at $880,000 - $950,000 and they didn’t think they could secure it.

We looked through the home and they loved it.

As the Agent had indicated that the owner was wanting $920,000 - $930,000 the Buyers wanted me to offer $899,000 to give themselves the best opportunity to buy the home.

I explained that as the property had been on the market for 42 days already, that I would try to get it for them for a lower price than that.

After a couple of days of negotiating with the Agent and backwards and forwards with the owner, we ended up having an offer accepted at $882,500 which was just $2,500 into the guide and $16,500 less than what the Buyers would have offered if they had been buying the home on their own.

This is a perfect example of why a Buyers Agent can save someone money. Unfortunately sometimes Buyers who really love a property will offer too much because they are keen to secure it, not realising that they didn’t have to offer quite as much to get it.

If you’re worried you might pay too much for a home, get in touch today on 1300 254 242 to have a free 15 minute conversation to discuss your property goals.