Buyer’s Agents: What are they and should I get one?

Have you ever had difficulty finding a property that suits your needs? What about ensuring that your property will increase in capital value? How can you get the best deal possible without being taken advantage of?

Whether you are a buying a home or investment property, the process of finding and purchasing a quality property can be a risky and complex one without the right guidance and expertise.

One potential option is to engage an experienced buyer’s agent, who can help you throughout the process of securing a quality property that has a higher chance of increasing in value.

What does a top buyer’s agent do?

In short, a buyer’s agent helps you buy property. Below is a summary of our service in 3 steps. 

1. Source listings on and off market providing you with an accurate understanding of the property market in your target area, based on the latest, most-up-to-date market data.
2. Shortlist desirable properties for you to choose from then conduct due diligence by inspecting the property and giving you feed back on market value.
3. Successfully close on a property which really meets your needs (for example according to urgency, budget, location and capital growth).

A buyer’s agent can assess a property’s worth relative to its asking price, based on its location and size, as well as its condition.

With a buyer’s agent, you will have someone on your side.  They are the secret weapon to getting the best possible deal on your property.

Why engage a buyer’s agent when you can do it yourself?  

Level the playing field: A buyer’s agent is adequately-equipped to represent you and negotiate property deals against real estate agents who prioritise their own interests.

Save time: Eliminate unsuitable properties and get straight to a choice list of options. You will never miss out on a suitable property match, and you will be able to view all desirable properties even with limited viewing time.

Find your ideal property. Get objective advice and discussion about your needs and wants, and you will be able to determine which properties suit you perfectly.

Beat the competition: Secure your desired property before other buyers do. Enter a negotiation prepared, shortening the time for negotiation and thus secure a perfect property before other buyers beat your offer.

What are some real, practical benefits of engaging a buyer’s agent?

Buying a property turns from a stressful experience into an exciting opportunity. Ultimately, a buyer’s agent will help you protect your interests and get you the best possible deal. In the process, you will receive support, understanding and expert advice. 

A buyer’s agent will help you find a good property match based on your budget and expectations. Through their expertise, a buyer’s agent can help you save time looking for a property and prevents you from losing out on your dream home. 

Minimize the risk of acquiring undesirable real estate and decrease your overall ownership expenses by selecting properties with lower maintenance costs.

How much does a buyers agent cost? 

The fees linked to the services of buyer’s agents may vary depending on the level of assistance required and the agent’s expertise. In Melbourne, individuals commonly choose from three main services provided by fully licensed buyer’s agents:

1. Full Search
2. Appraisal and Negotiation
3. Bidding at Auction

Generally, for each of the services listed above, buyer’s agents offer two primary fee structures: a fixed rate or a commission/percentage of the sale model.

Commision models are usually set at 1% to 1.5% of the purchase price where a fixed rate is set regardless of the final sale price. 

What is the difference between a Real Estate Agent and a Buyers Agent? 

Real Estate Agents: Oversee every facet of the property selling process, encompassing tasks such as arranging professional photographs, advertising on various platforms, and devising a selling strategy (either through auction or private sale).

Conduct open inspections to generate buyer interest and adeptly negotiate the sale. A proficient real estate agent should employ best practices in guiding clients through the intricacies of the selling process.

Buyer’s agents represent homebuyers in all the activities of buying a house. A buyers’ representative. Hence, buyers have no need to deal with real estate agents.

• They will choose the best property from everything on the market. Source off-market listings and publicly advertised properties.
• Offer property investment advice.
• Determine the market value of a property.
• Negotiate the lowest price and terms for the buyer via private negotiation or auction.
• Arrange building inspections and attend the final settlement of a property.

Why choose Wise Real Estate Advice? 

Proven experience – We have represented hundreds of buyers over a decade. Judge us by the business we keep, we have over 90 positive google reviews. 

We are on your side – We are a small team of passionate, driven agents who are dedicated to getting you the best deal possible on your property. Our experience will help minimise the risk of financial loss when it comes to buying real estate.

Patience, empathy and understanding – We will always be here to address any concerns or queries you have educating you along the process.

Leading service. Our team is led by a highly-experienced agent who has been involved in professional real-estate advisory for over 12 years. They also have personal experience in developing townhouses, property investment, renovating and home ownership.

So, no matter your circumstances – first home buyer, investor or experienced real-estate purchaser, we have the expertise to suit you.

We are committed to providing you with an experience that exceeds your expectations as we specialise solely in residential property, you can rest-assured that our agents are experts in your property purchase needs.

Speak to a buyers agent today.