Are Buyers' Agents Worth It?
In today’s bustling real estate market, the great Aussie dream of buying the perfect property can often feel like searching for a needle in a haystack, but is investing extra money into a buyer’s agent worth it?
With skyrocketing prices, fierce competition, and so many options to consider, buying your dream home or investment property can be intimidating. It seems all property buyers are more despondent than ever and homeownership levels have dropped to the lowest levels in three decades. But while it may seem like pretty tough going out there, you should understand there are many more finance options for home or investment buyers today than 30 years ago. So, when is the best time to buy? Well, the best time to buy is when you’re ready.
But the most important thing is don’t try and do it by yourself. First things first, meet with your mortgage broker and run different finance scenarios to get an idea of exactly what your budget is. This is the best starting point but then it may be worth engaging a buyer’s agent – a professional dedicated to representing your best interests as a property buyer throughout the purchasing process.
How A Buyer’s Agent Can Help You Secure the Perfect Property
Unlike traditional real estate agents who primarily work on behalf of sellers, buyer’s agents work exclusively for buyers, offering you expert guidance, strategic advice, and support from property search to settlement.
By leveraging a buyer’s agent’s expertise and industry connections, you can empower yourself to tackle the competitive property market with confidence. But not everyone can afford to engage a buyer’s agent, so we asked Ramon Cura from Cura Property to share his secrets. With decades of experience under his belt and buying thousands of properties, Ramon shares some of his insider tips here.
What does a buyer’s agent do?
Having a buyer’s agent on your side can be a total game-changer and absolutely worth every penny. From gaining access to exclusive listings to negotiating better purchase terms, buyer’s agents can streamline the buying process and get you the best outcome.
A buyer’s agent can help you put together a brief of what you want from the property you are looking to buy. What are the must haves? What are the nice to haves? Where are you willing to compromise?
It really boils down to ‘why are you here and what is it that you’re wanting to achieve?’.
By first going through the process of getting your pre-approval, or at least advice from your mortgage broker about what you can spend, you gain confidence about what you can and can’t buy.
Your buyer’s agent then acts as your dedicated advocate and helps to identify, evaluate, and secure suitable properties that align with your preferences and budget.
Do I need a buyer's agent?
Buyer’s agents have intimate knowledge of local market trends, property values, and negotiation strategies and prioritise your best interests, offering unbiased advice and personalised assistance every step of the way and this is why you may need one.
Access to Insider Knowledge and Expertise
One of the biggest benefits of having a buyer’s agent is gaining access to their insider knowledge and expertise. Buyer’s agents often have access to off-market listings, local market insights, and professional networks that can give you a competitive advantage.
Whether it’s identifying emerging neighbourhoods, evaluating an investment property’s potential, or uncovering hidden gems that align with your criteria, you can streamline your property search and find opportunities that may not be readily available to the average buyer.
Assistance in Property Search and Selection
The next part of the process is to do the property search which can be the hardest part, especially if you have specific requirements or preferences. Buyer’s agents act as your personal property concierge, scouring the market to identify properties that meet your criteria, assessing their suitability, and presenting you with a curated selection of potential property purchases.
Whether you’re seeking a waterfront apartment, a suburban family home, or a high-yield investment property, buyer’s agents can save you time, effort, and frustration and allow you a clear head to make smart decisions. You don’t want to just pick something to make the stress go away!
Negotiation Skills to Secure Favourable Deals
Negotiation is one of the key elements of the property buying process, and having a skilled negotiator in your corner can make all the difference in securing yourself a favourable deal.
Buyer’s agents have negotiation skills honed through years of industry experience, allowing them to advocate for your interests, leverage market conditions, and negotiate purchase terms that align with your goals.
Whether it’s negotiating price, terms, or inclusions, buyer’s agents work to secure the best possible outcome for you while shielding you from the stress and pressure of direct discussions.
If you work with a good buyer’s agent, you will walk away with the knowledge that you have gone through the right processes and have the right property at the right price.
Guidance Throughout the Buying Process, Including Auctions
From the initial property inspection to the final settlement, the property buying process can be pretty scary, especially if you are a first-time buyer.
Buyer’s agents provide you guidance and support at every stage of the process, answering your questions, and clarifying the process to ensure a smooth and seamless experience.
A purchasing method that is often avoided by nervous buyers is buying at auction. If you are hesitant or concerned about going to an auction, find a buyer’s agent and speak to them. Ramon gives the tip of waiting for the bidding to slow down, before coming in with your first bid. This can throw the remaining bidders off, and also gets the crowd rallying behind you.
Whether you’re learning about auction bidding strategies, conducting due diligence, or coordinating inspections and paperwork, buyer’s agents are your trusted advisor.
Finding the Right Buyer's Agent
Choosing your mortgage broker and buyer’s agents carefully is worthwhile, because if you get the right one, they will grow with you and be by your side for life. Look for buyer’s agents who specialise in your target area, have positive client testimonials, and demonstrate a deep understanding of local market dynamics.
Ask about things such as their experience, areas of expertise, client approach, and fee structure. Use this to gauge their communication style, professionalism, and ability to understand and prioritise your needs.
Pay close attention to their credentials, qualifications, and industry experience. Look for agents who are licensed, accredited, and affiliated with reputable industry organisations such as the Real Estate Buyers Agents Association of Australia (REBAA).
From gaining access to exclusive listings to leveraging expert negotiation skills, buyer’s agents offer a range of benefits that can streamline your property search and maximise your buying potential.
Whether you’re a first-time homebuyer, a seasoned investor, or a relocating professional, partnering with an Atelier mortgage broker and a buyer’s agent can be the key to unlocking your property dreams.
If you know a buyer’s agent is going to be worth it, reach out to Ramon from Cura Property to discuss your needs and explore how they can assist you in securing the perfect property in Sydney. With their expertise and dedication on your side, you’ll be well-equipped to enter the competitive property market with confidence and achieve your goals.
