Article by: REIWA
April 18, 2020
Whether you’re looking for your first house, an investment property or a new home to suit your growing family, it can be challenging to navigate the Perth market and the buying and selling process alone.
Not only is the sheer volume of property information available staggering, but the daily stresses many people are facing due to the coronavirus outbreak will have one wondering just where to start on their real estate journey – this is where a buyer’s agent can make a big difference.
What is a buyer’s agent?
A good buyer’s agent will work with you, from helping you scour the market for your dream home or investment, to negotiating the offer and liaising with the seller and their agent.
Buyer’s agents can have a significant impact on the success of your purchase. You only need to look at the growing popularity of buyer’s agents in Sydney and Melbourne, and indeed, in other parts of the world like the USA, to recognise that these services give buyers and investors an edge when searching for property.
As the name would suggest, buyer’s agents act on behalf of the buyer, helping them to locate their ideal property, and negotiating the lowest price with the best terms and conditions the seller will accept. They do all the groundwork and necessary research for you, so you can be sure you’re 100 per cent informed when making the decision to purchase.
How do buyer’s agents differ from selling agents?
On the other hand, seller’s agents, or real estate agents, ultimately work for their client – who is the seller. Their goal is to sell property at the highest price in the shortest timeframe, negotiating contract conditions which benefit the seller. They have to be fair to the buyer, but their ultimate duty is to their client.
Comparatively, buyer’s agents are not tied to any listings, their focus is on the buyer’s wishes and they can review all properties available on the market, pointing out their strengths and weaknesses.
What are the benefits of hiring a buyer’s agent?
Hiring a buyer’s agent takes some of the emotion out of the transaction. A buyer’s agent will fairly assess the property’s worth and recommend the appropriate price the buyer should be willing to offer and the conditions a buyer should attach to the contract to buy the property.
Through extensive research, networking and experience, a buyer’s agent will save you money, time and effort. They know the real estate market inside out and understand how different properties can best meet a buyer’s investment strategy.
Additionally, a great buyer’s agent is also able to build relationships with seller’s agents, opening up opportunities to find newly listed properties which meet their client’s criteria before they hit the open market.
The real estate industry is still operating despite these unprecedented times. Buyer’s agents understand that everyone’s personal circumstance is different and are here to help those who want to find their next home or investment property.
If you’re thinking about buying or investing in property, I highly recommend hiring a buyer’s agent to ensure you find the best property for your budget and situation.