When buying a home, competition can be tough especially if you don’t have the experience skills, and connections needed. Because of this, an experienced buyer’s agent has a huge advantage in the real estate market when competing against other home buyers. Inexperienced home buyers can be at a huge disadvantage because buyer’s agents already have a headstart with the networks of connections that they have built throughout the years.
So before you dive into your home buying journey alone, consider these four reasons why a buyer’s agent has the advantage in the market and why you should hire one instead.
1. Selling agents contact buyer’s agents first
Experienced buyer’s agents often have a good relationship with selling agents. Since buyer’s agents buy many properties yearly, they’ve built years’ worth of trust and respect with selling agents. Selling agents also know to contact them first because it is easier to deal with people you have dealt with before. They know that the transaction will be smoother with a buyer’s agent than with an inexperienced buyer that they have not dealt with before. Thus, this gives them the first and exclusive access to many properties.
2. Buyer’s agents have years worth of skill and experience
An expert buyer’s agent is not built overnight. They have years or even decades’ worth of skill and experience that they have honed by buying homes. From searching and viewing properties, conducting reports and inspections, getting a valuation, and negotiating a fair price – buyer’s agents can do it all.
There’s also a good chance that they’ve inspected many properties in an area that a buyer is interested in and know with their eyes closed which properties are good offers and which ones have red flags.
3. Buyer’s agents can negotiate for a lower price than an inexperienced buyer can
One thing that most buyers struggle with when buying a home is how much they should offer for the property. Most buyers are not experienced enough to negotiate with the seller. As inexperienced buyers, they might have a hard time saying “no” if ever the seller wants to have a higher offer.
Having a buyer’s agent will give you a huge advantage when it comes to negotiation. Their experience in real estate has given them enough knowledge to know how much a specific property in a specific area should cost. Depending on the current condition of the property, they can negotiate it for a lower price than an inexperienced buyer can.
4. Buyer’s agents can navigate through any issue
Throughout the whole home buying process, issues that arise are almost always inevitable. Although buying a home can be exciting, from the home inspection to negotiations until closing, there might be some hurdles that can discourage the buyer.
This is one of those instances when having a buyer’s agent is most beneficial. If ever there are issues that arise in your home buying journey, experienced buyer’s agents can take care of it and provide you with possible solutions to get through it as efficiently as possible.
5. They have access to experienced professionals.
In purchasing a home, several professional transactions will be involved. You’ll probably need a mortgage broker, a building inspector, and a real estate settlement agent, among others. Good thing that buyer’s agents can provide you with recommendations on the best options for these professional transactions.
A well-experienced buyer’s agent has enough connections with professionals that can provide you with high-quality service.
A buyer’s agent will help you stand out in the buyer’s market
Given their experiences and knowledge in the real estate industry, a buyer’s agent doesn’t only know how to find the best property for you. Real estate can sometimes be a competitive market and these experienced buyer’s agents can definitely provide you with solutions and recommendations on how you can stand out among other buyers. An effective buyer’s agent will help you set an offer that will eventually seal the deal for your dream home.
Want to know more? Give us a call at 08 6215 0200 or send an email to firstname.lastname@example.org. We’d love to give you a free consultation and walk you through the whole property buying process.