What Exactly does a Buyers Agent do?
A Buyers Agent or Buyers Advocate is a licenced Real Estate professional that represents the interests of the Buyer in property transactions.
They are often ex-selling Agents that use their extensive knowledge of the Real Estate industry to assist Buyers to find a suitable property (whether to live in or as an investment) by finding homes that are on the market or off-market.
Using the services of a Buyers Agent means Investors can sit back and relax while a Buyers Agent does all the hard work for them, sourcing relevant properties that suit their needs.
You know that feeling of despair when you see two homes are open at the same time and there’s no way you’re going to get to both of them? With a Buyers Agent, the despair is gone because they can look at both for you.
Confused about what a ‘price guide’ is and why it is never actually what the home sells for? A Buyers Agent will provide a better estimate of what the home will sell for
Want access to off-market homes? A Buyers Agent has a great relationship with selling Agents to get access to off-market opportunities before the market even knows about them
Worried that you are too emotional when it comes to looking at homes and you may make a huge mistake? Scared you will pay too much in the current market? A Buyers Agent can provide you with a realistic price point for every home you are interested in.
Don’t have enough time to see all the potential properties? Live too far away to keep travelling to view a home that may not be suitable? Sick of fighting the crowds at open homes? You know where this is going, right?
Using their knowledge of the property market, A Buyers Agent is responsible for searching for and sourcing properties that meet the criteria and preferences of their client, the Buyer. They provide insights into market trends, property values and comparative data.
A Buyers Agent can also provide guidance on the Contract for Sale and do their due diligence to help Investors to find the right property with the best rental yield and growth opportunities.
Unlike selling Agents who work solely for the Vendor, a Buyers Agent has the primary focus of working for the Buyer with responsibilities such as:
Sourcing suitable properties - whether they are off-market, pre-market or on the market
Securing the right property - this includes negotiating and bidding at auction
Advocating for the Buyer - so that they can provide guidance and help them save money
Once the right property is sourced, a Buyers Agent will negotiate on behalf of the Buyer to secure the property at the best possible price.
This has been an excerpt from The Property Investor Guidebook. If you would like your own copy, get in touch today.
