TOP 11 REASONS WHY PEOPLE LIKE YOU USE A BUYER’S AGENT
"Ha! Why would I pay someone to buy a property?”
This is the second-most common question that comes up when people ask me what it is that I do… (The first question is, “What is a Buyer’s Agent?”)
It’s a fair question. And I think it’s important to always have your finger on the pulse of what people want and need.
That’s why I approached my clients and asked them some questions.
Armed with their answers, I compiled their TOP 11 REASONS WHY THEY SOUGHT OUT A BUYER’S AGENT:
1. They’re time poor
You simply don’t have time to give up every weekend for property inspections, to trawl the internet on a nightly basis, to contact pest inspectors in your lunch break and to have the same topic on your mind for nine straight months.
2. They don’t know how to research a property/suburb to make sure it is a good investment or location for a family home
You’re not an expert in property research. You’re not familiar with every suburb in Australia. Understanding yields, surveyor’s reports and community trends are not your thing. And that’s ok.
3. They want to avoid overpaying for a property by having an expert negotiator on their side
It’s natural to be intimidated by the negotiation process on potentially the largest financial investment of your life; particularly when you are not trained in the art of negotiation, coming up against someone who engages in it every day.
4. Plain sick of missing out!
All of those months of research, time and emotion invested, only to come up empty? The feeling when you miss out on the property you had your heart set on – or only found out about after it sold privately, off-market – is gut-wrenching.
5. Tired of dealing with real estate sales agents
Look, we’re friends with real estate agents. Most of them are great people. However, I also understand that many of my clients feel uncomfortable dealing with them. It possibly comes back to stereotypes, or more likely, the uneven playing field you find yourself on as your average buyer. You’d prefer to outsource the relationship with real estate vendor’s agents to someone else.
6. Scared of making buying decisions across different states
How do you make a purchasing decision on an investment property in another state? Do you fly there on multiple occasions to ensure that you’ve made the right choice? How do you gain local intelligence on the history and potential of the area in question? It’s natural to find this task daunting.
7. The pressures of being a first home buyer
We’ve all been there at some point. I remember my first time, many, many years ago. Everyone has some measure of untrained advice to provide you with. It’s a lot to take in; and you don’t want to get it wrong.
8. Lack of knowledge is a barrier to researching, selecting and negotiating the right property
Where do you even start? Are you looking at the right sources? There is a plethora of information out there on the internet – and sometimes that’s the problem. There is no true substitute for good old, fashioned expertise and experience.
9. Not knowing how to inspect a property to make sure there are no hidden traps and future costs
What inspection reports am I supposed to obtain? What should I be looking for when I walk around? Is that crack significant, or just a normal sign of age, like the real estate agent says? Will I get whacked with a huge body corporate fee for property repairs in a year’s time?
10. They lack negotiation skills or simply hate negotiating (this is a big one!)
Are you a master negotiator? Do you know the tips and tricks? Would you crumble under pressure in one of the biggest transactions of your life? There’s a reason most people don’t love negotiating – particularly against a more experienced adversary.
11. They don’t want to get stuck buying a poor-performing asset
If you’re not planning to live in the property you buy for the next 30 years, you will want it to keep on appreciating in value and paying you a solid income. A buyer’s agent can help you select in the right place, at the right time and for the right price.
Whilst these are the key reasons my clients gave me, I’m sure you’ve got other real estate challenges in your mind too. Drop me a line if you have any questions and let’s see if I can help.