Why should you hire a Buyers Agent?
Many people believe that hiring a buyer’ Agent is too expensive. This is not true. Buyers’ Agents can help you save money, time, and stress, regardless of your budget. Most of the time, they will save you the fee and much more. Over half of the people in the United States use a Buyers’ Agent to help them with their home purchase. Choosing a licensed, professional Buyers’ Agent could save tens or hundreds of thousands of dollars, have a less stressful transaction, and use less of your valuable time. How do I find the best buyers agents Sydney?
The most crucial distinction between a Buyers’ Agent and a traditional selling agent is who they represent. A Buyers’ Agent exclusively represents the buyer, whereas a Selling Agent represents the vendor. (seller). An agent cannot act for both parties in a transaction and accept a commission. A good buyer’s agent is independent, with no financial ties to agents, developers, or specific properties. The buyer only pays the agreed-upon fee at the time of property exchange. Sellers or their agents do not pay them any commissions or kickbacks.
The majority of Buyers Agents provide at least two levels of service:
o The full search service, in which the buyer’s agent finds and shortlists properties that meet their client’s criteria before evaluating and negotiating the recommended property.
o The Negotiation or Auction bidding-only service, in which the client actively searches the market and engages the buyer’s agent to negotiate a private treaty or bid at auction.
Buyers Agents can give you an advantage by understanding the auction process, using bidding tactics, and not becoming emotionally involved in the auction/negotiation process. ‘In addition, buyer’s” Agent fees are tax deductible for investors. Before beginning the search, Buyer’s Agents typically charge an engagement fee. The fees are either a flat fee or a percentage of the property’s purchase price.
A key question to ask a Buyer’s Agent is whether they are “exclusive” or “independent.” They cannot be considered “independent” if they accept sales commissions from vendors or developers because they act in the seller’s best interests. Deal only with a licensed Buyers Agent (licenses can be checked through the Office of Fair Trading in each state) who is also a member of your state Real Estate Institute and the Real Estate Buyers Agents Association of Australia.
A good Buyers Agent will seek out the best opportunities available in the market and negotiate in the best interests of the buyer (not the seller) and help buyers select a property that meets their criteria, just as a good finance broker will help borrowers find the most suitable home loan from a wide range of lenders and mortgage products.
Here are eight compelling reasons why you should hire a Buyers’ Agent:
1. Gain access to a broader range of properties (many of which are not advertised) through the Buyer’s agent’s contacts/network.
2. Make the most of your time by delegating the difficult task of shortlisting suitable properties to someone else.
3. Hire a professional negotiator to get the best deal possible.
4. Avoid the stress and frustration of being shown inappropriate and unsuitable properties by salespeople who do not listen to the buyer’s needs.
5. Work with an independent professional Buyers’ Agent.
6. Find the correct property type in locations with high capital growth potential.
7. Assist investors in building their property portfolios faster by purchasing in high-growth areas.
8. Provide additional assurance and due diligence to investors.
Consider using the services of a Buyers’ Agent when deciding what to buy, where to buy, and how much to pay. They will also ensure that you do not overpay by providing background information on the actual value of the property you wish to purchase, allowing you to make an informed decision.
Depending on the level of involvement you seek, a buyer’ Agent can assist you in various ways. For example, they can search and negotiate for you and coordinate all necessary support services, such as solicitors, building inspectors, and property managers. Alternatively, they can only help you with the negotiation and evaluation stages if you prefer to do your own research.
Propertybuyer’s Managing Director and Founder are Rich Harvey.
Rich’s experience managing a multi-award-winning Buyers Agency has given him in-depth knowledge of the Sydney property market. His team services Sydney’s significant needs, including the Eastern suburbs, Northern Beaches, Inner West, North Shore, CBD, and Northern Suburbs.
Rich and his team have an uncanny ability to locate excellent properties. They are independent Buyers’ Agents who specialize in exclusively searching, appraising, and negotiating residential and commercial properties for buyers. Rich is a licensed real estate buyer agent, seasoned real estate investor, and professional economist. His clients attest to the excellent results he has achieved.
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