A Buyer’s Agent’s Advantage in the Market

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 clive@buyingperthrealestate.com. We’d love to give you a free consultation and walk you through the whole property buying process.

How To Choose A Buyer’s Agent Who is a Real Expert

Did you know that there are experts and non-experts in the field of property buying services? It doesn’t matter if you’re a property investor or homebuyer, it pays to be aware of who qualifies as a buyer’s agent expert when buying properties.

Qualifications of a Buyer’s Agent

qualifications of buyer's agents who is a real expert

The ideal person in today’s complex property environment should be fully conversant with strategies of real estate selling and buying.

That means they should have experience in working in a real estate selling office before becoming a buyer’s agent. This is vital because anyone can simply undertake a course and obtain a license.

That doesn’t make them an expert in selling real estate – nor an expert in being a buyer’s agent.

A considerable degree of experience and expertise is needed to have the skills and know-how for implementing the best strategic plan for an investor, let alone get a full understanding of the wishes of a home purchaser.

The Real Expert

The principal of Buying Perth Real Estate, Clive Elliott, was a renowned real estate agency principal before entering the field of being a buyer’s agent.

Clive Elliott was one of the leading real estate agents in WA for many decades. In his time of operating Clive Elliott Jennings Real Estate, he sold hundreds of properties from low-cost home units to houses worth millions of dollars.

Many home sellers could testify to Clive’s negotiating skills. It was not unusual for him to come back to his seller with a price above the listing price because he had found several prospective buyers for their property and had simply negotiated the best price possible.

It is highly unlikely that any buyer’s agent in Western Australia has anything like his depth of experience. One thing is for sure if you’re a buyer with his negotiation skills on your side, you have chosen well.

He is a Buyers Agent who is a REAL EXPERT.

Written by Howard Wilkinson past employee of Clive Elliott Jennings Real Estate

Buyer’s Agent vs. Real Estate Agent

Do you often get confused about different terms regarding real estate? For example, there are real estate agents, buyer’s agents, and brokers. Do you know the difference between each type of agent? If you’re looking for a property to purchase, would you know who to call?

The agent you need for your real estate transaction would depend on your objective. You can choose between a Buyer’s Agent and a Real Estate Agent to help you. Here are the differences between the two types of agents:

Real Estate Agent

real estate agent showing a house to buyers

A real estate agent, otherwise called the listing agent, represents the home seller. The seller pays them and they have a legal responsibility to get the maximum price possible for the seller. They do not work for the buyer. Real estate agents are in charge of putting up the property on the market, looking for buyers, and conducting open houses. They are also in charge of negotiations for the home seller, closing the deals, and beyond. 

If you are a homebuyer and have already decided on buying a specific property, you can directly reach out to the real estate agent of that property. The real estate agent will then review your offer and can close the deal once you’ve agreed on everything.

Do you need a real estate agent to sell your property? It’s not required to have a real estate agent to sell your property, but it has its advantages. For one, they’ll have more connections and contacts and will be able to market your property to a wider range of audiences. You’ll have someone to guide you, the property owner, through the whole home selling process and help make it smooth and stress-free.

Buyer’s Agent

buyer's agent

On the other hand, if you only have an idea of what type of property you want and what you need for your new home, it would be best to contact a Buyer’s Agent. As a real estate professional, the buyer’s agent will help you find the perfect property that will fit your needs – regardless of who is selling them. Buyer’s agents will work only for you. The selling agents do not pay them. They are engaged by you and work in your best interests at all times.

The buyer’s agent will do the leg work and research for possible properties that checks all your requirements. Based on your preferences, the buyer’s agent will provide you with recommendations for different properties. 

In choosing the shortlisted properties, the buyer’s agents will base it on hard facts and market data. With this, they will also be able to help you decide on an offer that will put you at an advantage over other buyers. 

Since the buyer’s agent represents the buyer, he/she should also ensure that you are not paying too much. Once you’ve chosen a property, the agent will negotiate with the seller so you can get the best deal and terms. They will also take care of all requirements and assistance that you may need in purchasing the property. This includes selection, research, negotiation, Special conditions to the contract to protect you, right through to unconditional contract. 

Who should you call?

Knowing who to call for your real estate transaction, whether buying or selling, will save you from a lot of hassle. So given all the information, do you already know who to call?

If you are planning to buy a new home in Perth, feel free to reach out to the Buyer’s Agents at Buying Perth Real Estate. We’ll listen to your criteria and help you find the best option. Get a free consultation at https://buyingperthrealestate.com/buyers-agent/

A Sad Haircut

The Barber I’ve been going to for the last decade has closed its doors, so I had to look around for someone else that was close to home and would do a good job.

After searching Google, I found someone within three minutes from home.

I rang. It was an Italian voice on the phone saying, “yes, come around straight away”.

It turns out that he had only been operating the business for seven months. As I walked in, I noticed that he was open seven days a week and it seemed as though he was the only one there.

It turns out that he had been working for some else for the last fifteen years and thought it was time to launch out on his own—a bold move.

It turns out that he paid $50,000 too much for his premises and was stitched up with a bank loan at 7.5% interest.

He thinks he did well. 

If he had used me as a buyer’s agent, I could have told him that the property he bought had been on the market for nearly two and a half years and they would have sold it at a heavily discounted price if it had been negotiated strongly.

I also would have been able to set him up with a 4.5% commercial loan through a broker/s with integrity. And he would have paid it off in ten years instead of sixteen without having to work seven days a week.

Buyer’s agents are not well known in Perth, and it is disappointing that hard-working buyers don’t know that we exist and could be securing a much better deal than they can by doing it alone.

It is for this reason that I choose to spend my time as a buyer’s agent looking after time-poor people who have limited knowledge of the market, and want someone to negotiate the best price for them and set up their finance in the best way.

Next time you’re thinking of purchasing a property, allow me to represent you as a Buyers Agent. I can help in selecting your property and negotiate the best deal for you. I’ll help make your property purchase stress-free and, quite likely, save you a bunch of money.         

https://buyingperthrealestate.com/buyers-agent/

PS. It was a great haircut!

The Top 5 Benefits of Using a Buyer’s Agent

1. What does it cost?

Most importantly, the first thing to know is that the buyer pays a buyer’s agent in Australia, so there is NO conflict of interest with the real estate agent. Remember, the Real Estate Agent is paid by the seller and therefore his obligated to get the maximum price and best terms for their seller.                                                          

Many say that using a Buyer’s Agent won’t cost you anything. No, buyer’s agents don’t work for free. But the fee that is paid by the buyer to the buyer’s agent is in most cases covered by the experienced buyer’s agent’s ability to negotiate the lowest price and the very best terms. Many of our buyers say, “It didn’t cost anything because you saved us so much! You got the lowest price and best terms that were far more than your fees.” While that’s often true, they are still paying a fee.

2. Your agent will have a finger on the pulse of the market.

Unless you are in close touch with the real estate market, it’s challenging to know everything that is going on in your local market. That is why you hire a buyer’s agent. We have the market knowledge you need to get the best results from your purchase.                                                                                                                         

Buying Perth Real Estate can advise you on what kind of offer is likely to get you the home you want and suggest the best terms with which to negotiate. We give you an informed opinion on where we see the local real estate market heading. Are prices rising or dropping? Are inventory levels going up or down?                                                                                                                                                   

Most importantly, for now, how will Coronavirus effect the real estate market here in Western Australia.

3. The agent will take care of organising private inspections

Once we listen to your requirements, be it for your dream home or your investment, Buying Perth Real Estate uses our 45+ years of real estate experience to select properties that fit your brief. Once you have decided on the properties you wish to inspect, we arrange a private viewing at a time that is convenient for you. We will work around your busy schedule.

4. A buyer’s agent will research the area and neighbourhood

At Buying Perth Real Estate, we have a pulse on the local market and the areas. Often, we will advise against the property selected by our buyer because of problems in that particular suburb or area. Your final choice must continue to hold value and also have the potential to grow in a rising market.  

5. Buying Perth Real Estate will follow your transaction through to final settlement.

We at Buying Perth Real Estate will organise all the pre-settlement inspections and follow the settlement process through to the final settlement day with you.  

For a free consultation, contact me on 0412 926 190 or visit our website at buyingperthrealestate.com.

Clive Elliott, CEO, Buying Perth Real Estate Clive@buyingperthrealestate.com