What is the role of a Buyers Agent in Australia?
Buyers Agents are licensed property professionals who specialise in helping buyers source and purchase high-quality properties.
Also known as Buyers Advocates, they are experts in researching and identifying properties to fit a buyer's preferences and needs.
Great Buyers Agents live and breathe property. They spend their days negotiating with Sales Agents, conducting due diligence on prospective purchases and most importantly, working with buyers to achieve their financial goals.
Buyers Agent vs Selling Agent
While most people are familiar with real estate agents on the selling side, Buyers Agents are becoming more commonplace in Australia.
In everyday transactions, property buyers often wrongly assume a Sales Agent is there to help them when, in fact, they are working for the vendor to secure an optimum sale.
So while a Sales Agent represents a vendor and is legally required to achieve their best outcome, a Buyers Advocate will focus on locking down a great deal for a buyer.
What benefits does a Buyer Agent provide you?
Years of buying experience
Most buyers only purchase a few properties throughout their entire lives. Consequently, they never have the chance to upskill in researching and sourcing properties or negotiating with Sales Agents. When you work with a Buyers Agent in Australia, you leverage their years of experience and skills within the Australian property industry.
Property market knowledge x 10
Given their extensive experience and specialised knowledge, a Buyers Advocate can accurately evaluate a property's market value. A true professional has access to a wide range of industry data and analytics and has intimate knowledge of areas likely to perform strongly.
’Hardcore’ negotiation tactics
As a professional buyer, Buyers Agents are skilled in the art of negotiation and will advocate on a buyer's behalf to achieve the best possible price and conditions. What a Buyers Agent brings to the table as a gun negotiator can save tens of thousands of dollars on the purchase price of a property.
A nationwide perspective
Most property buyers have an understanding of their local property market because it is where they live. Investing in your backyard, however, is rarely the best investment option. An experienced Australian Buyers Agent will have a deep understanding of the entire country. They can identify which states, suburbs and areas are likely to grow in value, above and beyond the average location.
Access to a network of property professionals
An experienced Buyers Advocate has a team of professionals around them that you can access to improve your overall outcome as a buyer. Researchers, investment savvy mortgage brokers, settlement agents, lawyers and building inspectors, should be key partners of a well connected advocate.
An expert to do the ‘leg work’ for you
Uncovering the very best property opportunities takes a lot of time and effort. Most people quickly get frustrated spending their Saturdays at open homes. Not to mention the hours of research, contacting multiple sales agents daily and cultivating the right relationships. To lock away the best options, you need to spend time doing the work. When using a Buyers Agent, you can leverage their knowledge, research and network to save hours in the long run.
Alleviate transactional stress
Finding a great property isn't easy. It's time-consuming and difficult. Negotiating with agents and competing with other buyers can also be very stressful. By letting a professional manage this entire process on your behalf, you can quickly overcome these challenges.
Inspire you to action!
When you start out in property, it's easy to get overwhelmed by the numerous decisions. Often, the worst thing you can do is nothing at all. What using a Buyers Agent will do, is give you the confidence to take the plunge and stay focused on achieving your goals.