Never heard of a buyer’s agent? Check out the show Million Dollar Listing New York. It’s a TV show about glamorous real estates agents and buyers agents spending millions of their client’s dollars buying high end property in New York. They represent the buyer, wheeling and dealing with the seller’s agents to close deals and buy property.
In Australia, real estate buyers are hiring buyers agents to do the property search and negotiation on their behalf. Why use a buyer’s agent? They are experienced real estate agents for hire. They know the ins and outs of the real estate industry saving their clients time on the market and most importantly, money. They look out for the best interest of their clients.
Buying an investment property in Melbourne has become a complex process that requires an in-depth knowledge of:
– Finance approval
– Legal representation
– Finding a good quality property that increases in value
– Making sure the property is structurally sound
– Understanding a property’s value
– Negotiating with real estate agents
Buyers that start the buying process usually find themselves overwhelmed and struggling to make a clear decision.
Did you know the best real estate is sold without public advertising?
These types of real estate sales are called off market listings. They are properties for sale without a public advertising campaign. The reason these types of sales are attractive is low levels of buyer competition hence a higher chance of a below-market price.
How do you access off market listing? Buyer agents are the best source of this type of sale. Why?
A large part of a local real estate agents day-to-day work involves appraising property that will sell in the near future. Then generating interest with buyers they meet, with at open for inspections and buyers agents.
A buyers agent that works across a whole state can have access to hundreds of off market listings. More than 30% of a buyers agents’ monthly transactions are off market deals.
Cut years off your mortgage using a buyer’s agent.
In a hot real estate market like Melbourne or Sydney, it’s common for buyers to over pay for property in order to win an auction. Most of the time, buyers are negotiating with no other buyers except a real estate agent. Have you ever been to an auction and heard a real estate agent submitting a vendor bid and increasing the price by $10,000 yet no one put their hand up to bid?
A good buyers agent is a professional negotiator that understand when and how to bid, how to strategically slow down an auction or take control of a private negotiation.
For more information on buyers agent’s service and how they can help visit Wise Real Estate Advice for a complimentary consultation.