By Buyers Domain Principal Buyer’s Agent, Nick Viner
There is no doubt that in Australia, buyers’ agents are becoming increasingly popular, but there are still many who question the value of using one. To that query, I always ask a question in return: “How valuable is your time and money?”
Buyers’ agents are property agents engaged by buyers to assist with the search, selection, negotiation and acquisition of property.
Finding the right property in Sydney can take many months of research, inspecting properties after work and on the weekend, plus follow-up calls to real estate agents.
Even when you do eventually find a property that you feel meets your requirements, how do you know the right price to pay and whether the property will perform well over time? With so much at stake when buying a property, the risk of overpaying can be significant.
Sydney’s cooling market has lead to increased confusion over the “right’ price with sales figures from the previous year no longer seen as being quite so comparable.
NSW budget papers released on Tuesday forecast a 7.5 per cent fall in average home prices across New South Wales from their peak in 2017, with no return to positive growth until 2019-20. In the face of this trend, buyers are showing very real signs of being concerned about overpaying.
Sydney’s most prized areas including the Northern Beaches, North Shore, Inner West and Eastern Suburbs remain competitive with many properties still selling over reserve.
Using a buyer’s agent specialising in the area you are interested in is the most effective way of ensuring you do not overpay as well as being successful in what remains a competitive market.
The Value of Buyers’ agents – Let Me Count the Ways
Here are another five reasons why you should seek the assistance of a buyer’s agent for your next property purchase:
- Stress relief – Buying property can be frustrating and emotionally exhausting. Minimise your stress and anxiety by engaging an experienced buyer’s agent.
- Gain access to a wider range of properties – Buyers’ agents are constantly looking for properties via a number of different sources. Often buyers’ agents are able to use their contacts to find “off-market” opportunities thereby providing access to a more extensive selection of properties.
- Specialist property advice – Buyers’ agents are property professionals who are able to advise you about a broad spectrum of property matters including choice of suburbs, budget expectations and the current strength of the property market.
- Objective and impartial property advice – While a selling agent will assist you with the sale of a property and may give you some pointers in respect to your property purchase, they are solely motivated by selling property. On the other hand, buyers’ agents work in the best interests of the buyer by striving to ensure that their clients buy quality properties at good prices.
- A smooth transaction process – From dealing with the selling agent to liaising with your mortgage broker and solicitor, you can rely upon your buyer’s agent to make sure that the whole process takes place as smoothly as possible.
Without the skills and knowledge of a buyer’s agent by your side to help you find and buy the right property for you, you will probably end up paying a higher price and waste both your time and money.
Experienced Buyer’s Agent, Nick Viner can make sure you are not at risk of overpaying, and assist you in purchasing a property that suits your budget and requirements. Contact Nick now on 0405 134 645.