A buyer’s agent is a relatively new profession in Australia – only about 5% of investors are using one at this point
– but the numbers are growing fast – and for a variety of reasons. Why is the industry growing so fast, and how can a buyer’s agent save you time and make you money?
Let’s look a bit more closely at what the best buyer’s agents can do for you.
For one thing, a buyer’s agent does a lot more than source and negotiate to buy property for you, in order to help you make more money on your property investments
They have a broad professional network, detailed knowledge of the market and relevant data, and specialised people and negotiation skills. They should be an excellent professional negotiator to help put together the right deal. On top of all this, they can help source the right professional property team including recommendations for the right accountant, mortgage broker, building inspector, pest control and property manager to suit you – and even negotiate property management fees.
Most importantly – an independent property buyer works closely with you, and on your behalf, and will not have any vested interests or commissions attached to selling you a particular property like a real estate agent will have – meaning they are working in your corner, and with your best interests in mind.
As their success is reflected by your success, then as an investor, it is a win/win scenario. (Personally, this is why we love this business – as we work closely together with our clients to help them achieve the best possible outcomes for them personally – and we end up building very strong and mutually beneficial relationships.)
As well as having the market data and experience to know the inside information on what and where is up and coming, a good buyer’s agent will know the best techniques to help you get the best deals
They know the industry, and should know very well the area/s they are looking at for you. They will be very well prepared in terms of research and having all the right information to use as leverage to source and negotiate most effectively on your behalf.
Investors use buyer’s agents for a range of different reasons and services
Some want them to find, appraise and purchase property – including bidding at auctions for them. It makes a lot of sense, because almost always a vendor will use a professional property agent to help sell their property. When you’re alone on the other side, as the buyer, you can recruit a buyer’s agent to level the playing field – as you would a lawyer in a legal case – if you represent yourself – it is much harder to get the best possible result. For this reason, talk to a buyers agent before a sales agent so you get the best deal and in the end save money. Investors can inadvertently give away their position which can cost them negotiation leverage, and in the end, real money.
So, as the value of these professionals becomes more recognised in Australia, the number of investors using them, not just to save them time, but save them real money, is growing quickly
REBAA (The Real Estate Buyers Agents Association of Australia) is a good place to start to look for an accredited and independent buyer’s agent and negotiator. This way you know that the agent is licenced, approved and accredited, and has the experience to act on your behalf. You can also check their licence number with the relevant consumer affairs group in your state to see what particular licence they have.
Market knowledge, reputation and experience is also important – a good buyer’s agent should have their own growing property portfolio
They should have significant experience sourcing and buying properties including in the areas you are interested in. Transparency with fees, honesty, openness, and a good ear is very important. A good property agent should be able to answer any questions you have and provide you with valuable insights to help you along the way. They should take pressure off you, and help you save time. Most importantly, they should be able to advise you based on up to date market information, and support you with making these most important decisions about how to invest your money.
There is nothing more important than working with recommended advisers – and so a number of genuine testimonials recommending their work, and even being able to talk with their clients really helps an investors peace of mind
You want to know your buyers agents track record and success, to be assured that you are in the best of hands.
At Adviseable, we work hard to help you succeed. We are super proud of our client relationships, and humbled by the industry awards we have previously won. We are buying properties every week for our clients, and are here to help you when you are ready, and when you need the very best service and quality assurance available.