What is a Buyers Agent?
Buying a new home or investment property is likely to be the biggest purchase you’ll make in your lifetime, so it pays to understand how the real estate game works. If you’re just starting out you probably haven’t heard of a buyer’s agent. Just like real estate agents who help you sell a property, a buyer’s agent is a licensed professional who works for you and acts on your behalf to search, evaluate and negotiate a property purchase. They aim to ensure you’re as fully informed as possible and that you don’t overpay.
Buyer’s agents can offer either full or partial services to help you find the ideal property. Full service means the buyer’s agent manages the entire process for you, which includes:
- A ‘wish list’ analysis to understand your requirements to determine your ‘needs’ versus ‘wants’
- Search available listings
- Inspect and short-list suitable properties
- Evaluate recent sales data and provide a written appraisal
- Oversee and arrange due diligence such as building inspections, pest, survey and engineering reports
- Negotiate the property purchase price and terms
- Oversee the contracts and exchange
- Pre-settlement inspections
- Settlement
- Asset/property management/leasing
- Gain an edge by having your own advocate who is representing your interests 100% throughout the purchasing process.
- Understand the complexities and processes of buying by providing objective information, advice and support.
- Save time by searching for and analysing property on your behalf. Having someone do this for the buyer often results in a more efficient and faster outcome.
- Negotiate to obtain the very best price and terms.
- Source the correct property in the right location with better prospects for capital growth and/or rental yield.
- Access databases and information not readily available to the public, including increased access to properties off market.
- Eliminate stress by having one representative looking after your needs, rather than dealing with several different selling agents.
Happy investing
Ben Plohl – Founder & Director
bfp property
**All information published has been collated and prepared in good faith. No representation is given or implied as to its accuracy or interpretation. Please ensure you rely on your own research before making any investment decisions**
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