If you are looking to buy an investment property it is important to have an expert on your side throughout the whole process and a buyer’s agent can provide the professional voice you need. It doesn’t matter whether you are looking for your first property or even if you have purchased before and consider yourself a seasoned investor, a buyer’s agent can be your competitive advantage in securing your next investment property and building a successful property portfolio.
So, how can a buyer’s agent assist a property investor?
Setting a strategy.
A buyer’s agent should always discuss with you what you are trying to achieve and set a purchase strategy to help you get there.
A buyer’s agent will be able to advise you on your first investment purchase, or on your next purchase that will compliment your existing property portfolio.
The process of setting a strategy will recognise the type of property to be purchased to best suit your needs and determine whether you will be searching for a cash flow positive property, a high growth property, or a development opportunity etc.
Perform all the research.
A buyer’s agent will perform all the tedious location research, saving you time from completing a long- winded process and assisting you to narrow down to your key investment criteria. Because a buyer’s agent knows what you are looking for, they can focus on searching only for properties that match your specific criteria and won’t be distracted to start looking at other properties that arise during the search process (which often leads to a lot of time wasted on looking at properties that aren’t suitable for you!).
A buyer’s agent will short list only the properties that best match your criteria and present you with a short-list of opportunities.
Buyer’s agents also have access to many tools which are used by professionals, or require expensive subscriptions to access all the right data on a location or a property’s background. This knowledge can truly be valuable and assist you to avoid buying the wrong property.
A Buyer’s agent will also attend property inspections, so you don’t need to re-arrange your weekend around open homes. This is also very convenient as often investment properties are purchased in locations not close to where you live, and a Buyer’s agent will be able to guide you on the best locations to achieve your strategy due to their vast knowledge of the markets, because they are working in the markets every day.
Your Buyer’s agent will be able to explain all the requirements for an “investment grade property” and assist you to understand yields, returns, capital growth, equity, and cash flow.
Expert knowledge.
A buyer’s agent is an expert in the field and they have a wealth of knowledge on how to un-tap the full potential of an investment property. They will also be familiar with all the common mistakes made in purchasing property and help you to avoid them.
They will also have developed relationships with industry contacts such as Mortgage Brokers, Financial Advisers, Property Managers, Accountants and Solicitors, that they trust and will be able to provide you sound advice.
No distractions.
It is easy to get caught up in the emotion of buying a property when it is your hard earned cash that you are spending. A buyer’s agent will search for a property without any emotional attachment and only make a decision based on hard facts and research.
Buyer’s agents will often get access to properties before they hit the market or are even advertised so you will gain a competitive advantage in the market above other buyers.
A buyer’s agent has the experience to know what to look for in a property, as well as the right questions to ask to avoid you purchasing a lemon, they will attend property inspections and have their eyes out for anything that may be hidden.
Bid at auction.
The auction experience can be very overwhelming as well as costly if you are inexperienced. You need to fully understand the process of the auction as well as how to bid at auction, before the gavel falls. Employing a buyer’s agent to bid on your behalf may save you from getting caught up in the emotion and paying too much. Buyer’s agents will be strict about keeping to your budget and understand what the maximum price will be in order for you not to over capitalise on your investment. If you get caught up in the hype of the auction, you may end up paying too much for a property which could put your investment strategy in jeopardy.
Handle all the negotiations.
A buyer’s agent is a professional negotiator and won’t be fooled by real estate sale’s tactics. A Buyer’s Agent is also prepared to walk away from a deal if you can not secure it for the price you want. This will also save you a lot of stress as your buyer’s agent will take all the calls from real estate agents.
By your side.
Your Buyer’s Agent will be by your side through the whole process which is truly invaluable. They will be able to keep you on track and be able to answer all your questions about acquiring your new property. After you’ve exchanged contracts, they will also be by your side until settlement ensuring that the process can run as smoothly as possible until you get your hands on those keys.
If you are looking for a buyer’s agent to assist you with purchasing a home or investment property in the Sydney, Brisbane and Newcastle regions, as well as SA, TAS, ACT, VIC, NSW & QLD please get in touch with Lloyd Edge and his team at Aus Property Professionals here or give us a call on 1800 146 837!
