Posted on: 18 March 2015Share
Homebuyers usually come across real estate agents that are engaged by the seller to help them sell and market their properties, but a buyers agent whose services are engaged by the buyer is much rarer. First-time homebuyers making an entry into the real estate market in Australia may find the process harder, especially when it comes to negotiating and auctioning. Here are some reasons why a buyers agent can work in favour of homebuyers.
Extensive Real Estate Experience
Purchasing real estate is perhaps one of the biggest financial decisions you could ever undertake with no wiggle room for errors—so you want to get it right at first go. With far more experience than a homebuyer, a professional buyers advocate provides greater support and professional advice for making purchasing decisions.
A buyers agent will equip you with all the knowledge necessary to make an informed property buying decision. For example, a buyers agent will be equipped with knowledge about market prices in the area and how be successful during the auctioning process to get you the best possible purchase price. A buyers agent also possesses valuable market knowledge, identifying new hotspots before the average homebuyer knows it.
Improved Negotiation Skills
Negotiating to buy a property can be an overwhelming experience, especially if you have no prior experience. Negotiation requires more skill than you think; it requires a specific process and strategy that you simply may not be aware of. A professional buyers advocate does this for a living, so he or she knows exactly when and how to negotiate. They also know the sales tactics used by sellers agents, so they can circumvent them far more easily than you.
When you're buying a home, there is bound to be an abundance of emotions involved, which could work against you. A buyers agent is an objective party, whose decisions are not clouded by emotion. Agents will do thorough research to present you with objective facts of your property.
Finding a Buyers Agent in Australia
Most buyers agents are listed through industry associations like Real Estate Buyers Agents Association of Australia (REBAA) and The Property Buyer's Agents Association of Australia (PBAAA). You can have access to professional bodies like WBP Property Group that have stringent experience, insurance and licensing rules for their members to maintain the professional standard of the industry. Homebuyers would benefit tremendously from accessing these professional and local associations.