Home sellers hire Real Estate Agents to maximize the potential of a high price when selling there home as Real Estate Agents have a network of resources & strategies to sell a home. From property stylists, professional photographers, digital marketing platforms like realestate.com.au, negotiation strategies and auctioneers.
The purpose of all this is to capture the attention amongst buyers and create a competitive bidding environment.
The poor buyer’s are like dear in headlights. They don’t have strategies or platforms to leverage and work out what is really going on.
So how does a buyer stand a chance?
Head to head with a real estate agent, very little. Consider the agent’s weekly activity:
They physically inspect 10 + properties each week. This gives them an in-depth knowledge of prices in a local market. They negotiate and sell a property every 7 days, convincing two parties to agree to selling terms and only generate an income out of the process if the property officially sells.
What about agents for home buyers?
Buyer’s Agent are the real estate agents for home buyers. They look after the buyer’s best interest and have their own set of tools to work with for the benefit of their client, the home buyer.
The idea of hiring a real estate agent for a buyer is to managing the whole process from property selection to completing a sale.
The process buyer’s agent guides their clients though.
- Sourcing properties for sale, on and off the market.
- Conducting due diligence on a selected property, this includes property inspection, market appraisal and setting up a negotiating plan.
- Submitting an offer for private negotiation or attending auction.
- Assist with building inspection, contacts and final inspection.
The benefits a buyer gains from their agent.
- Save money off the asking price.
- No need to deal with real estate agents or attend open for inspections.
- Spend less time looking for a property.
- Reduce your chances of buying a slow growth property.
Real estate buyers can get caught up in the emotional rollercoaster once finding a property they like. This can lead to a poor decision, like over paying for a property or buying something that is not structurally sound.
Not having the right experience in owning property can also lead to buying something that has slow capital growth. Even if you’re not a property investor, the home you purchase is usually the biggest investment of your life.
Homebuyer’s agents are not emotionally attached to a property purchase as they simply look at the factual details of every property transaction and offer wise advice on the best move to achieve a positive outcome.
Homebuyers agent experience:
Every good home buyer’s agent should have practical experience and a educational experience in real estate.
Practical: own at least one house or investment property, have at least one year experience in being a Real Estate Agent.
Theoretical experience: be accreted with a full real estate license and a member of an professional code of conduct institution that provide training on best industry practice like the Real Estate Institute of Victoria.