Buyers agents are increasingly popular in Australia as time-poor property investors realise it makes sense to have someone with investment experience on their side.
If you’re not sure about using the help of a professional to help you buy your next investment property, take a look at 7 reasons why this kind of service makes sense.
1. A buyers agent gives you access to off-market properties
Not every home is advertised for sale. Sometimes a messy divorce means people don’t wish to advertise their property publicly. On other occasions, the home is so desirable that the selling agent simply needs to phone a few people who may be interested to secure a sale.
If you have a buyers agent, they will be connected to a wide range of agents who will provide a ‘heads up’ about off-market properties. This gives you the chance to make an offer ahead of the rest of the market.
2. A buyers agent will save you hours of time
As a busy professional, the thought of spending Saturday mornings inspecting properties is not appealing. A buyers agent will take care of this for you by finding properties which meet your needs as an investor. This frees you from endless rounds of inspections.
Using their expertise, knowledge and skills, your buyers agent will identify high performing growth pockets across Australia. These may be interstate but you will be saved the time and expense of travelling to view properties.
3. A buyers agent will handle the stress of negotiating
Inexperienced buyers often pay too much without even realising. Your buyers agent will point out exactly why you shouldn’t pay a dollar more for a particular property, and will present clear evidence to the selling agent to back up their claims. They will also be able to identify a ‘distressed’ or urgent sale, which provides an opportunity to quickly secure a property at below market price.
4. A buyers agent will ensure you don’t buy in the wrong place
Not every suburb is ideal for investing. Ideally, you should buy somewhere with growth potential based on incoming infrastructure and future job prospects in the area.
Your buyers agent has access to research and data to identify the best suburbs for investing. He or she will have spent thousands of dollars on research and analytical tools that are not available to the general public.
At BFP Property, we help by using cutting-edge technology and artificial intelligence. Our methodology is data-driven and scientific, and is geared to take the subjectivity out of investment research.
5. A buyers agent will have a plan
Investing, especially for those starting out, can be overwhelming.
When you have a buyers agent, you will work together to identify your goals and objectives before crafting a unique and personalised portfolio strategy.
6. A buyers agent offers end to end management
Your buyers agent won’t walk away after your purchase is confirmed. You can rely on them from the initial strategy session right through to post-acquisition care. It’s like having a personal property buying concierge, who takes away the hassle, time and stress of the investing process.
This type of property professional can also show you how to plan and prepare for your next investment so you can grow your portfolio faster.
7. A buyers agent provides comprehensive support
You need more than a buyers agent to purchase an investment property. This kind of deal involves loan specialists, conveyancers, building inspectors, property managers and depreciation report writers.
Each of these providers will help you meet your goals but finding them can make the idea of investing seem all too hard.
At BFP Property, we will provide you with all the contacts you need. As one of our past clients Chelsea Cousin explains, “Ben put us in touch with mortgage brokers, conveyancers, managing agents etc who made every part of the journey easy. If it wasn’t for these contacts we would still be procrastinating and feeling stressed.”
A buyers agent will charge a fee for their services, but by the time the transaction is complete, you will have saved hours of time and thousands, if not tens of thousands, of dollars. Using a buyers agent streamlines the property investment process, meaning you can purchase your property and start building wealth sooner.