What is a buyer’s agent and do I need one?
Written by Ben Saravia,
Ask almost anyone who has bought a property before (especially a first home ), and they will tell you that it can be a difficult and challenging process. However, not that many people can claim to have purchased a property during a once-in-a-lifetime pandemic! Not only is demand falling in some areas (such as inner cities), but demand is also increasing in more scenic and lifestyle locations, as evidenced by increasing house prices and rental yields in the Gold Coast.
Homebuyers also have to contend with unforeseen outbreaks, border closures and delays as well as the new world of online auctions, just to name a few! All of these new conditions add an unwelcome layer of complexity to an already stressful process. However, help is at hand! Read on to see how a buyer’s agent can be your personal Godsend!
What is a buyer’s agent?
A buyer’s agent is a property specialist that works for you to find, view and arrange the purchasing of your home. A little bit like a real estate agent works for the seller, the buyer’s agent works for the buyer. A buyer’s agent will take into account your circumstances and requirements, including your budget and what you are looking for, and then find those properties for you.
There are many benefits of engaging a buyers agent.
Specialist area knowledge
A buyer’s agent should have an in-depth knowledge of the property market in the area that you are looking in. As this is their day job, a good buyer’s agent will be across trends in the market, and in many ways, is better placed to find the property of your dreams, than you are!
When you love a place, it can hard to know what the true value of a property is. Buyer’s agents will approach a property without emotion and can give an accurate appraisal of the property value. This prevents overcapitalisation - which simply means that you avoid paying too much for the property.
Buyer’s agents deal directly with the real estate agents
A buyer’s agent will deal directly with real estate agents so that you don’t have to. Right now, real estate agents are busier than ever, and so maintaining contact with them can be a frustrating process. Real estate agents also often prefer to deal with buyer’s agents rather than the purchasers themselves, saving everyone a lot of stress and hassle.
Buyer’s agents will attend and view the property for you, saving a huge amount of time, stress and cost of viewing the property yourself. This is especially valuable if you are looking to purchase a property out of state, as border closures and inspections can make crossing the border a long and uncertain process.
Pre Purchase Building and Pest Inspections
A buyer’s agent can make all the necessary arrangements to ensure that all your pre-purchase inspections are taken care of on your behalf.
Reduce time, stress and hassle.
This is a big one. Buying a home can be a stressful process! However, by engaging a buyer’s agent, you are allowing them to do a lot of the leg work for you, saving you the stress, hassle and a lot of time that would be spent doing it all by yourself. At Pest Build Legals, we always recommend getting the best team together to help you purchase your dream home, and a buyer’s agent might just give you the edge you need in a tricky housing market!
All information contained on this website is for your reference only. You should always make your own enquiries and seek independent legal advice in respect of any information about real estate law and the purchasing of real estate and related subjects. This website may contain hyperlinks to websites operated by parties other than Pest Build Legals. Such hyperlinks are provided for reference only. Pest Build Legals does not control such websites and is not responsible for their contents.