The difficulty of dealing with real estate agents
Many buyers, whether they be first or second home buyers or buying an investment property find the process very involved, expensive and time-consuming. The challenges that buyers face can be off-putting and occasionally cause buyers to give up.
These off-putting experiences can often come through their dealings with real estate agents. In brief, the main objective of a real estate agent involves; listing properties for sale, managing a number of vendor relationships and selling many homes. Their relationships with buyers is not their primary concern.
There is good news! Buyer’s agents level the playing field, making the process of buying a property fair. By hiring a buyer’s agent a buyer will never need to make contact with a real estate agent for the entirety of the buying process.
Don’t buyer’s agents raise the property price?
Some may believe that buyer’s agents are the cause of property prices being on the rise. This is nothing more than a incorrect perception. It would not be of any benefit if an agent didn’t try and get the best price for their buyer. Paying above market value is a thing for armatures and people with more dollars then sense.
It’s generally competition that raises property prices and not buyers agents. There are always going to be more popular homes and suburbs then others
A great property is not always the most expensive property and certainly not one that is sold above the market value. Buyer’s agents know market value before making any offer on any property. Making offers within this value is what a good buyer’s agent will do every time.
A good buyer’s agent has spent enough time in the market to:
- Know market value
- Know the walk-away price
- Know how to negotiate well
Time consuming process
Being on the market, searching for the perfect home for over a year is quite common for many buyers. Often, buyers will be on time restrictions, for various reasons and this therefore causes a stressful situation.
Buyer’s agents take a lot of the guess work out of buying a home and are focused 100% on the task of finding the right property. Therefore, it can take an average of six to eight weeks, providing the criteria remains the same, to purchase a property for their buyer.
Time is definitely money when purchasing property. Particularly when the prices rise by 11% in a 12 month period.