Don’t pay too much in a buoyant market – your buyer’s agent can help
Matthew Hughes, Managing Director at Capital Property Advisory
July 29, 2021
Buyer fervour in a booming property market can lead to rash decisions and over-paying for your dream property.
Recent research conducted by Finder, a property market comparison website, showed that 70% of buyers currently expect properties to sell at a premium to the asking price.
It is a selling agent’s job to drum up as much interest as possible for their client’s property. This, coupled with a fear of missing out amongst prospective buyers, is resulting in many properties selling well above their reserve – sometimes hundreds of thousands above.
The fundamentals of choosing your next property remain the same no matter the state of the market. Feeling rushed or losing sight of the criteria that best suit your family’s needs can result in not only paying too much, but not ending up with the right home.
The current market environment is one where engaging a buyer’s agent can be particularly beneficial. Their extensive industry knowledge and experience gives them insight into a property’s comparative value and their skill in negotiating price and terms can save you thousands.
The investment made in accessing buyer’s agency services can end up being a drop in the ocean compared to what may happen when a property purchase is not well considered or negotiated.
An experienced buyer’s agent not only has access to industry information on the property market, they also have a far reaching and trusted network of property professionals and agents to collaborate with to find you the most suitable properties on the market – in many cases, before they hit the market.
Buyers in the current market need to be one step ahead of their buying competition, and a buyer’s agent gives you the best chance of finding out about pre-market and off-market opportunities, allowing you to make a more considered purchasing decision and avoid competitive bidding situations.
Having a buyer’s agent on your team ensures that you have an experienced industry professional on your side of the property transaction, who will expertly navigate the complex process of finding and securing your new home, on your behalf – and at the moment, this is more important than ever!
Currently, Perth is the capital city that our research is driving our clients to for optimal investment outcomes. Keep an eye out for our upcoming report on Victoria, and the opportunities we feel this market will present from early to mid-2025. CPA Property Reports are the ultimate research tool for those considering an investment into the any Australian property market.