It doesn’t matter whether you’re a seasoned property investor, or you’re looking to take your first step on the property ladder, Australia’s real estate market is fraught with complexities.
For most of us, buying a home will be one of the biggest (if not the biggest) purchases that we make in our lifetime.
For many of us, buying a home is a one-time purchase. For experienced investors, it may be a process that they navigate more than a dozen times throughout their real estate journey.
The truth is, it doesn’t matter which end of the scale you land on, buying property is unlikely to be a regular occurrence. As a result, most buyers never really get to the point where they feel entirely ‘confident’ throughout the process.
That’s where buyers’ agents come in.
What is a Buyer’s Agent?
Buyer agents or buyers’ advocates are real estate professionals who navigate the property market day in, day out.
Buyers’ advocates act on behalf of buyers to secure favourable buying terms and to provide expert guidance throughout the property buying process.
Through experience and exposure, buyers’ agents get the time to learn, understand the market, and navigate the real estate purchasing process with a level of experience that is hard to match.
Who Does A Buyer’s Agent Work for?
Buyers’ agents work as property buyers, they are the inverse of a real estate agent in that they act on behalf of the buyer – not the vendor.
You’re on the website of a buyer’s agent. So it would be disingenuous for us to pretend to be impartial on the matter. So let’s throw that notion out of the window. We are firm believers that property investors – seasoned or otherwise, can benefit from working with a buyer’s advocate.
A professional in your corner to navigate unfamiliar waters and provide impartial advice on buying the best property can only be a good thing.
7 Good Reasons to Use A Buyer’s Agent
Get Tailored Real Estate Advice
Buyer’s agents work with clients to provide tailored advice that considers their goals (live in vs. invest), their financial circumstances, and their timeline. When you work with a or buyers’ agent, you’ll partner with a real estate professional that is looking out for your best interests and providing tailored advice to your unique circumstances.
Find Off-Market Opportunities
A buyer’s advocate is nothing if not resourceful. Working in the industry means that buyers’ agents have relationships with real estate agents, access to industry intel, and can offer off-market real estate investment opportunities that the public may not be privy to. In many cases, off-market opportunities allow would-be buyers to secure better deals with motivated vendors that are looking for a smooth property transaction.
Buy Interstate Properties
Buying a property in your city can be hard enough, now imagine doing it in a different state. From property inspections to foreign, state-specific transaction processes, many buyers feel overwhelmed by state-borders. Buyers’ agents – particularly those with a national network, can offer interstate real estate investment opportunities that allow would-be buyers to get a real sense of the property, without being on the ground.
Simplify Property Transactions
We’ve said it already, but property transactions are inherently complex. The legal and regulatory framework that guides property transactions in Australia can be complex and off-putting for buyers. By working with a buyer’s advocate, buyers can simplify the process and lean on the buyers advocate for support and guidance. Whether that means tapping into their network for legal, conveyancing, or even for buy-to-rent assistance, working with a buyer’s agent simplifies the buying process.
Negotiate with Confidence
When it comes to real estate, everything is negotiable. For buyers, understanding when to push and how to negotiate to achieve the desired outcome is the tricky part. Buyers’ agents are real estate professionals. Acting on your behalf, buyers’ advocates liaise with vendors and real estate agents on your behalf and negotiate the terms of the sale.
Buy to Rent Guidance (property manager)
For real estate investors, finding the right property in the right area is the first part of the equation. But what happens after the transaction? For most, the next step is marketing the property and filling it with tenants to ensure that rental cash flow begins as soon as possible.
When you purchase a property with a buy-to-rent intent, a buyer’s agent can help lock in settlement dates and get your property on the market and tenanted as soon as possible. Leveraging local contacts and an extensive network within the real estate community, buyer’s agents can help investors to place tenants faster and effectively mitigate any potential risks associated with the property sitting vacant.
Make Informed Buying Decisions
Working with a buyer’s advocate means making informed buying decisions. As we’ve already mentioned, it doesn’t matter whether it’s your first property or your tenth investment property, working with a buyer’s agent means leaning on the professional expertise of an industry expert. Experienced buyers’ agents can help investors to make informed decisions, understand the market landscape, and effectively understand their position before making a purchase.
Final Thoughts
Here’s what you need to remember; unlike a real estate agent, a buyer’s agent isn’t limited to the properties that they are listing.
Buyers’ advocates have the freedom to offer impartial advice to clients. Buyers’ agents are employed by you, the buyer. It’s in their best interests to find a property that suits your needs – not push property from a limited portfolio of current listings.
