Should You Use A Buyer’s Agent?
Dilleen Property Group 2022
Whether you’re looking to purchase an investment property or an owner-occupied property, using a Buyer’s Agent can be beneficial in speeding up the process. Finding the right property at the right price takes a lot of time and effort. Fortunately, it is possible to offload this task to a Buyer’s Agent.
Here are some useful features of using a Buyer’s Agent:
1. Access to quality properties
By utilising a Buyer’s Agent, you are paying for their knowledge, expertise and industry connections. This involves getting exclusive access to property deals that are most suitable for your scenario and investment strategy. This is because Buyer’s Agencies are very well connected in the market and they can find suitable properties for you that haven’t been advertised yet.
2. Saves your time
Finding the right investment property by yourself comes with the downside of time. Without the industry connections and access to off-market deals, you will end up spending countless hours of your time property hunting, a lot of the time not even knowing what you are searching for. This requires constant monitoring of real-estate websites and frequent travelling to attend inspections, which may limit your property options to your state of residence. By using a Buyer’s Agent, you can eliminate this trouble by offloading this task to the agency. Once you know what type of property you’re looking for, the agent can narrow down the options for you and all you’ll have to do is choose the property that is most suitable for your circumstance.
3. Bidding and Negotiating
A Buyer’s Agent always aims to get the best prices for the buyer. They are able to help you bid at the auction and negotiate for the best deal. Their advanced knowledge of the market means that they know the qualities that make up a good investment and can secure properties that are under market value for you.
Conclusion
A Buyers Agent can be extremely beneficial to investors with little time on their hands, investors with a lack of knowledge in different property markets and those who haven't built up industry connections. A buyer's agent can aid all of these pain points and assist in speeding up the process of building a property portfolio.
Further to this, if you choose the right Buyer's Agent to work with you will likely end up spending less money with a professional on your side because the deals obtained through a buyer's agent are likely going to be heavily under market value/discounted. That could save you 30k - 100k per deal. Working with a professional also means you can avoid making the costly mistakes most people make when doing it alone.
A good Buyer's Agent will do the due diligence on each and every property presented to you. They do the hard yards by conducting thorough research on the location, the numbers, and the property itself in relation to your personal investment goals and financial position.
Finally, it is always best for you to do your own research on different Buyer’s Agent companies before engaging with them as some don’t have the buyer’s best interest at heart. Hence, conducting background research and comparisons between different companies will give you a better idea of which Buyer’s Agent you will want to work with.
If you require assistance or have an inquiry about purchasing investment properties or using a Buyer’s Agent, you can contact us here to learn more about our services.
Disclaimer: This is not intended as legal, financial, or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature, you should seek advice from a qualified and registered legal practitioner or financial or investment adviser.
