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A buyer’s agent is a real estate professional who specialises in searching the housing market and evaluating properties for you, the property buyer.
For prospective homebuyers, the buyer’s agent can provide clients with peace of mind and a sense that they are in control. For buyers who want to find their own property but need advice on what price range or type would suit them best, using a buyer’s agent is often helpful as well.
In This Post:
How Is a Buyer’s Agent Different From a Real Estate Agent?
Buyer’s agents are usually paid by the buyer to find a property and do not work with sellers. This is because they offer their services for free or charge very reasonable fees while real estate companies make money from commissions when buyers list properties. Buyers typically hire them as an advisor, since there isn’t always enough time in one person’s lifetime to become proficient at both buying AND selling houses.
Are Buyer’s Agents Supposed to Be Regulated?
For a buyer’s agent to be able to run their own real estate agency, they must have both the full license and specialised training. They also need a licensed office from the state or territory in which they work. If you want an experienced buyer’s agent with all of these qualifications then it is essential that you find one before commencing your property search.
What Does a Buyer’s Agent Service Usually Include?
Finding the perfect property is more than just about location. It’s a search for that right house with all of your needs in mind. Your buyer’s agent will work one-on-one to find exactly what you’re looking for, whether it be an open and airy loft or something cosy among trees.
Working as part of a team has never been easier thanks especially to today’s technology which allows us access through email and video linking at any time – day or night.
If you’re new to a city, your buyer agent can help educate you on the best neighbourhoods for what kind of lifestyle and budget. If it’s an investment property that will be rented out, your agents may also take into account factors like potential capital growth or rental yield when advising you on which suburb would make sense.
One way agents approach the process of finding you a property is by putting together a buyer’s brief – basically, research on things like schools nearby or commute times from downtown – so they know which areas will be worth their while looking into further. This helps them find properties quickly rather than wasting hours.
Agents will use their knowledge of the area and your needs to find properties that fall within what they are looking for. They may offer a shortlist or continue searching until something becomes available, depending on market demand in the area.
A buyer’s agent will provide a thorough appraisal of properties if you are interested in the property. They negotiate on your behalf to ensure you have an understanding and are satisfied with what’s being offered before proceeding forward.
How Much Will I Have to Pay For a Buyer’s Agent?
There are no set rules or standards in place for buyer’s agent fees in Australia. That’s why it’s best to shop around and make sure you confirm what the agent’s rate is and how they plan on charging you. Some may charge you a fixed rate while others charge a percentage of your property’s purchase price.
So What Are the Main Advantages of Using a Buyer’s Agent?
There are many advantages to consider which make a buyer’s agent one of the best options if you want to stay ahead of the pack and snap yourself up a great deal on a property. You’ll find that a buyer’s agent in Melbourne will have great industry knowledge and access to properties that are not usually advertised.
Using a buyer’s agent also has the potential to save you an incredible amount of time. They can perform time-consuming tasks like inspecting homes, searching, and shortlisting properties for you. Your buyer’s agent may also be able to help you plan for the future. They can assess potential properties based on investment potential and rental yields. Last but not least a buyer’s agent will also be able to help you negotiate the challenges of bidding during an auction. They can also advise you on bidding for private sales too.