If you’re buying property, you may fare better with a Buyer’s Agent on your side.
Using a buyer’s agent to assist in purchasing a property has not been well used in Western Australia to date, but in the Eastern States, using a Buyer’s Agent is becoming increasingly popular.
‘Having a registered buyer’s agent on your team can be a brilliant move because we can invariably buy at a better price than the average home purchaser can do,’ says Clive Elliott from Buying Perth Real Estate.
Clive Elliott is a seasoned real estate agent having operated his own agency for many years. These days, he works primarily as a buyer’s agent.
“The days of real estate agents taking prospective buyers around to homes offered by other agents when their listings don’t match what the buyer wants, have virtually gone,” he says.
“It concerns me that in many cases people who are time-poor settle for a home below their expectations while other people are not strong negotiators, so they end up paying more than they could have,” he said.
A buyer’s agent’s job is to find properties that match the brief from a buyer.
The search made by a buyer’s agent considers the offerings of numerous agencies and sometimes off-the-market properties.
“Many people forget that a real estate agent is paid by the seller to get the best price possible whereas a buyer’s agent, knowing this and having worked in price negotiations, is motivated to work on behalf of the buyer,” Mr Elliott said.
“We can often cover our entire fee and more by having the knowledge of current property values and knowing how to negotiate accordingly,” he said.
With more extensive knowledge than most people of the property market, a buyer’s agent can also source a property for investors with better prospects for capital growth or rental yield and seek out properties being sold off-market’ (sometimes known as ‘silent sales’) which never appear publicly.
“We also help our buyers to ensure they have included the correct conditions in their offer to purchase and when needed, assist them in obtaining suitable finance brokers and conveyancers,
“All up, a buyer’s agent removes a lot of stress from property purchasing, saves the buyer a huge amount of time in searching for the right property, and we invariably save the buyer quite a lot more than our fee for service,” Clive said.
To learn more about how a buying agent works, you can visit buyingperthrealestate.com.au