If you are in the market for a property, your first thought may be to look for properties online or visit your local real estate agent. Many don’t know that if you are looking to buy, a buyer’s agent can be much more valuable. From finding you the right property, negotiating the best possible deal, asking the right questions, and simplifying the process of buying a property, there are many benefits of using a buyer’s agent. Whilst many buyers are familiar with the exceptional work of buyer’s agents, some are turned off by the misconception that buyer’s agents are extraordinarily expensive.
We’ll be breaking down your most pressing questions about buyer’s agents, including ‘what is a buyer’s agent?’ and ‘what does a buyer’s agent do?’, exploring how they are different to real estate agents, what services they offer, and why they are worth the money.
What Is A Buyer’s Agent?
A buyer’s agent, also known as a buyer’s advocate, is a licensed professional who works exclusively for you, the property buyer. Their primary role is to advocate for the buyer throughout the property-buying process from the initial search to signing on the dotted line, and this can even extend beyond ongoing property management. The role of the buyers agent is entirely tailored to the buyer’s requirements, as they are targeting their efforts explicitly on the buyer’s criteria, rather than just trying to sell a house.
Are Buyers Agents The Same As Real Estate Agents?
Unlike traditional real estate agents who represent both buyers and sellers, buyer’s agents exclusively focus on securing the best possible deal for buyers. Offering an unparalleled level of attention to ensure that the right match is found, having an advocate working on your behalf means that when it comes time to negotiate, they are working solely for you rather than just trying to broker the best deal for both parties. As buyer’s agents are only compensated once a deal is done, it is in their interest to ensure that you are well looked after, which is one of the biggest benefits of using a buyer’s agent.
What Does A Buyers Agent Do?
Find The Right Property
Once briefed on your requirements, preferences, and deal-breakers, buyer’s agents shortlist the very best properties available. In addition to finding the best properties listed, through their network and connections, they also provide exclusive access to off-market properties that can’t be found anywhere else. Whether you’re looking for a family home, an investment property, or a holiday house, buyer’s agents don’t stop until they find your dream property.
Do All The Hard Work
Choosing a buyers agent means a professional will handle all of the time-consuming duties and efforts that come with buying a property, from handling paperwork to coordinating with conveyancers and solicitors, buyers agents handle everything that needs to be done without you having to lift a finger. Instead of having to attend endless property inspections and open houses, a buyer’s agent can handle this on your behalf, ensuring you only have to visit properties that tick all your boxes and that they deem worthy of your time. This can be particularly useful for buyers who are unable to visit properties in person due to time constraints or geographical restrictions. Streamlining the buying process, and ensure everything is handled smoothly, reducing the buyer’s stress.
Make The Best Deal
Once you find the property that you want to buy, buyer’s agents get to work in making you the best deal. Buyers agents frequently bid on behalf of buyers at auctions to secure properties under high-stakes conditions, but they can also broker pre-auction deals to settle in a much less frantic way. Buyer’s agents are skilled negotiators and leverage their understanding of market trends and property values to negotiate effectively with sellers or vendors. In addition to negotiating the right price, when contracts are being drawn up, they can also add conditions on your behalf, such as a specific move-in date to align with the sale of an existing property, for example.
Why Should You Consider Hiring a Buyer's Agent?
The two most common reasons that buyers work with buyers agents—and two of the biggest benefits of using a buyers agent—is to save time and money. Buying a property has a lot of steps, and many buyers don’t have the time to pour through every listing, visit every property, and deal with every other step along the way. Buyer’s agents take on all responsibilities, only ensuring that the very best properties are passed along for your consideration. Buyer’s agents are very skilled negotiators, and will likely save you a great deal more money than if you were to negotiate the deal on your own behalf. Their experience in purchasing properties and knowledge of the property market can save you tens—or even hundreds—of thousands of dollars.
By having a finger on the pulse of the property market, buyer’s agents can offer valuable insights into current trends and future projections, which can help you make the right decision with confidence. Plus, as buyer’s agents handle all the hard work, it means less stress for you, too.
In addition to finding the best properties listed, through their network and connections, they also provide exclusive access to off-market properties that can’t be found anywhere else.
Are Buyers Agents Worth The Money?
Buyer’s agents don’t work for free, and many assume that only the ultra-wealthy can afford their services. Fees can vary, but they are typically a percentage of the property’s purchase price or a flat fee agreed upon before engaging services. Whilst this can seem like a lot of money for something that you can do on your own, buyer’s agents will likely save you far more money in negotiation than the cost of their fee, on top of all the time and effort they’ll spare you.
For many buyers, especially those unfamiliar with the property market, or purchasing high-value properties, there are many benefits of using a buyers agent, including helping you to get the very best deal possible.
Choosing The Right Buyers Agent
When selecting a buyer’s agent, it’s important to consider their experience, reputation, and area of specialisation. Choosing a local buyers agent with an in-depth understanding of the market is a wise choice, particularly if you’re moving to a new area. Additionally, a reputable firm that specialises in the type of property you’re looking to buy, whether that’s residential or commercial, can ensure that you’re aligned.
A professional advocate can make all the difference in securing your next property at the best possible price. Even the most knowledgeable buyer will not have the same expertise as a professional who has facilitated hundreds of deals, so it’s a no-brainer that you should entrust experts. Whether you’re purchasing your first property or expanding your investment portfolio, partnering with a skilled buyers agent can simplify your buying journey, and ensure a better outcome as well.
To learn how the experienced team at Rose & Jones can help you, get in touch with our team today.
About Rose & Jones
Rose & Jones has been helping clients find and purchase properties in Sydney, South East Queensland, and the Northern Rivers since 1998. A renowned property buyers agency across residential, commercial and industrial sectors, every one of our property experts meets our high standards, so you won’t have to compromise yours. With access to a wide network of off-market properties, our team can help you find the perfect property. Also offering property management services and investment advice, make Rose & Jones your go-to when it comes to real estate in New South Wales and Queensland.
