What is the different between a buyer’s agent and a seller’s agent?
A seller’s agent acts in the best interests of the seller or vendor. This includes selling the property for the highest possible price. In contrast, a buyer’s agent acts in the best interests of the buyer or purchaser. This includes securing the property at the cheapest possible price and with the most favourable terms.
If the seller is represented by a selling agent, why wouldn’t the buyer be represented by a buyer’s agent to ensure a level playing field?
Why would I pay a Buyer’s Agent to find and buy a property?
Buyers’ agents are experienced property professionals and have specialist property buying skills from finding the right properties, undertaking due diligence, knowing how to assess pricing, negotiating and bidding at auction. At Buyer’s Domain buyers’ agents, we have been working for our clients 6 days a week for the past 15 years and have successfully secured hundreds of properties in that time.
Most people only buy 3 – 4 properties in their whole lifetime so are ill-equipped to navigate the complexities of the Sydney property market.
If you get sick, you see a doctor. If your car breaks down, you see a mechanic. When you sell your property, you use a selling agent. So when you buy a property, why wouldn’t you use a buyer’s agent?
Aren’t Buyers’ Agents just for the super wealthy?
Absolutely not. Our clients’ budgets generally start from around $500,000. All our clients recognise the value in engaging Buyer’s Domain buyers’ agents to find the right property and secure it at the best price.
What does Buyer’s Domain do that we can not do ourselves?
Quite simply we have the experience, time and resources to focus on finding and securing your ideal property 6 days a week. We have successfully secured hundreds of properties for our clients over the past 15 years. In contrast, how many properties have you purchased? You may feel comfortable undertaking aspects of the property search yourself. But if you want the best result and the confidence from knowing that you have secured the best property at the best price, then you should consider entrusting your search to a professional buyer’s agent.
Does Buyer’s Domain have access to off-market properties?
Most definitely. Generally speaking, around 40% – 50% of all properties we purchase for our clients have been sourced off-market. Having said that off-market properties only represent a fraction of all properties available to purchase at any one time so our strike rate in securing properties off-market is extremely high. Be wary of other buyers’ agents who say they have access to hundreds of off-market properties because the reality is that off-market properties are scarce.
How do I know if now is a good time to buy a property?
The best time to buy a property is as soon as you are ready and able. Economists and experts constantly try to predict when the market will soften and when it will be the best time to buy but their predictions are speculative and usually wrong. Based upon the performance of the Sydney property market long term, you risk finding that if you leave your property search for too long, your ideal property will be that much further out of reach.
It is far more prudent to ignore hype and speculation about the property market. Instead, focus on your requirements for the ideal property and buy at the right time based upon your personal circumstances. Good properties always increase in value in Sydney.
I do not have my finance in place yet. Is it worth starting the property search?
We generally recommend that our clients wait until they have pre-approval for finance in place before starting the property search. There is no point in spending time to find the perfect property if you are not yet in a position to buy.
What areas does Buyer’s Domain cover?
We can not see any properties on the market that suit us right now so how could a buyer’s agent help us?
This is one of the best reasons to engage a buyer’s agent. Finding suitable properties is exactly what we do as professional buyers’ agents. Whether that is thinking outside the box in terms of adjusting your brief or giving you access to additional properties off-market, we will help you find your ideal property faster saving you time and minimising stress.
We have just found a property we like so is there any point in engaging a buyer’s agent?
Yes, absolutely. There is still a lot to do in terms of organising the due diligence and successfully negotiating the best price or bidding at auction. If you have already found a property that you are interested in, then find out how our Property Health Check buyers agency service will help you successfully secure the property ahead of all the competition from other buyers.
What if more than one of your clients wants to buy the same property? How does Buyer’s Domain deal with competing briefs?
Our priorities are always to our signed up clients. We never take on conflicting briefs. If a prospective client has a brief that is similar to an existing client, we do not take on the new client until we have successfully purchased for the existing client first.
How long will it take to buy a property?
Typically, we insert a 6 month term in our buyers agency agreements. In the highly unlikely event that we have not successfully purchased a suitable property within 6 months, there is provision for the agreement to be extended, if agreed. However, most of our clients successfully purchase within 1 – 3 months.
Why is Buyer’s Domain different from other buyers’ agents?
Our Principal, Nick Viner, worked as a property solicitor for 10 years before becoming a buyer’s agent in 2009. Our high levels of professionalism and experience set us apart from other buyers’ agents.
At Buyer’s Domain, more than anything else, we are Buyers’ Advocates. We have never worked in property sales and will not sell you a property. We are extremely discerning and will do all the research to make sure that you acquire a suitable property. We will highlight any shortcomings with the property and give you the best advice so that you can be confident with your purchase.
How much does Buyer’s Domain charge?
Does Buyer’s Domain guarantee to save me money?
No. We cannot provide any guarantee to save money – we haven’t even found your property yet. However, as one of Sydney’s leading buyers agencies, we have successfully saved many of our clients multiple times the cost of our fees based upon various factors on a case by case basis. As we charge fixed fees, we are highly motivated to secure the property for the lowest possible price as we know this leads to the happiest clients and the most referrals.
Does Buyer’s Domain do auction bidding?
We have not yet decided what our property brief is – is there any point in engaging Buyer’s Domain at this point or should we leave it until we know what we are looking for?
One of our skills as buyers’ agents is to be able to listen to your requirements and needs and then let you know the range of possibilities and suitable suburbs according to your budget. We can definitely save you time and stress by helping to establish your brief up front. In addition, our buyers agency process including our initial “discovery day” will further clarify your needs and requirements so that we can take care of focussing on your property search with greater precision.
It is up to you when you choose to engage our buyers agency services but as long as you are finance approved, there is no better time than today to get ahead with your property plans.
What happens if we find a property ourselves once we have engaged Buyer’s Domain?
Inform us of the details and we will make sure the property is on our list. Our Full Search service is exclusive which means that full fees are payable irrespective of how the property is found.
The reasons for this are that finding the right property is only part of the exercise. Once the right property is found, there is still a lot of work to do in terms of undertaking the due diligence, evaluating the property and successfully securing the purchase at the best price. Whilst it is highly unlikely that you will find the right property before we do, it may also be impossible to prove who actually found the property first in practice. Buyer’s Domain is here to provide the Full Search service for you and not in competition with you.
If you have already found a property you are interested in, then our Property Health Check Including Negotiation and Auction Bidding may be the best option for you.