Buyer's agents: what do they do?
Buyer’s agents explained
All you need to know about buyer’s agents
Let’s delve into what buyer’s agents are, and whether you should or not hire a buyer’s agent to buy a property, or diversify your property portfolio.
We’ll be looking at the following:
- Buyer’s agents: who do they work for?
- The buyer’s agent advantage
- Why use a buyer’s agent?
- Buyer’s agents, in short
- What should you do next?
- Are buyer’s agents worth it?
- Case study: how can buyer’s agents help you succeed in property investment
Buyer’s agents: who do they work for?
Property buyer’s agents work for the buyer, not the seller
Buyer’s agents work with homeowners to find the right piece of real estate within their budget. They will help you search through listings, negotiate on your behalf, and present properties that fit what you’re looking for in a property. They act as an advocate for both parties involved which helps avoid any confusion or miscommunication along the way. They also work very closely with lenders to ensure the financing is in place before contracts are signed so there’s no risk of losing out on an opportunity that someone else might take advantage of.
A buyer’s agent will evaluate and negotiate the purchase of a property on behalf of the buyer.
Clients who are looking for the best properties at the best price need to work with an experienced buyer’s agent. Real estate investors without a buyer’s representative are dependent on the seller’s agents. They will only list properties they have listed, rather than properties that you need. You&Me Personalised Property Services buyer’s agents are passionate about helping you achieve your real estate goals and succeed in real estate investment throughout Perth.
View the finest property first
We are granted the first access to new instructions. This can often be several weeks or days before we need them. However, even a few hours can be a significant difference in certain situations, when it comes down to purchasing a prime property.
Get access to increasing numbers of sales that never reach the open marketplace. Over 40% are off-market transactions in some areas. The Buying Agents are proud to have compiled a huge black book of contacts from the industry over 30 years.
Save your time
The Buying Agents can make the most of your time. One contact is all that you need to view all property. Finding the perfect prime property requires dedication and patience. It is a full-time job.
Many people in Australia have a busy lifestyle, they’re working a lot, or they need to travel frequently (FIFO, business managers, representatives, expats, international buyers). Investing in property or building a real estate portfolio is an attractive way to diversify yourself. But it is time-consuming. That’s why buyer’s agents are helpful: they’ll save you time.
Buyer’s agents reduce risks when buying a property
From start to finish, buyer’s agents follow a strict process to eliminate any factors that could cost you money in the short to long-term. From the searching a property that meets the buyer’s criteria to the final property inspection (structural, pest), buyer’s agents will help you identify risks and avoid pitfalls.
Buyer’s agents provide total anonymity
The Buying Agents discreetly act on your behalf. We will ensure that your identity does not get mentioned in the headlines or during negotiations.
If you want to find out more information about our buyer’s agents services and how we can help you, feel free to contact us anytime.
Why use a buyer’s agent?
Property buyer’s agents are licensed professionals who specialise in searching, locating, evaluating and negotiating the purchase of property on behalf of buyers. Their role is not sales-based; it is more based on negotiation. A buyer’s agent is engaged independently and paid for by the buyer to act on their behalf.
In a snapshot, here are the benefits of engaging a buyer’s agent:
- A buyer’s agent will save you time.
- You are investing in a professional’s know-how.
- A buying agent is bidding and negotiating for you, with knowledge of the market.
- Through your property buying agent, you get exposure to a wider range of properties.
In real estate, negotiation is key
Real Estate Agent: If you enter the real estate real as an unrepresented buyer, usually the odds are stacked in the seller’s favour. This is simply because the agent is a professional who negotiates property deals and knows the tricks of the trade. The real estate agent’s primary goal is to try and achieve the best price for the seller.
Buyer’s Agent: on the other hand, are on an equal playing field to real estate agents. Both are real estate professionals who understand the 360 facets of property purchasing. They negotiate property deals regularly and are veterans in the art form.
Arguably, a buyer’s agent has the upper hand, their negotiation stems from an advantageous position because they are truly not tied to any property. The buyer’s agent can walk away and take you to another property of your choice at any time.
How do you find a good buyer’s agent?
It is important to choose your buyer’s agent carefully. As the choice you make in selecting the right agent will likely result in you making the best purchase at the right price, saving you both time and money.
When choosing a buyer’s agent, address the following questions:
- How experienced is the buyer’s agent?
- Do they have a solid local knowledge of the area they’ll be searching in for you?
- What qualifications do they have?
- What are their most recent purchases?
- Do they own property themselves?
- Do they have the contacts to find you the property that best suits your criteria?
The results achieved by a buyer’s agent will benefit you in the long term and making the right choice of agent also comes down to who you feel most comfortable with. We recommend asking the above questions in helping you in your scoping process.
At You&Me Personalised Property Services, we are here to ensure you are comfortable and looked after, through your property journey. This is a nerve-wracking, yet exhilarating time, and we want to ensure you get the best price for your desired home. Secure the best possible outcome for your property purchasing journey by getting in touch with You&Me Personalised Property Services, your trusted team of buyer’s agents.
Buyer’s agents, in short
We are Property Buyer’s agents and we are working for you.
- Are you looking to purchase a property?
- Are you tired of sifting through endless amounts of brochures and websites from real estate agents?
- Do you want a quick and easy solution to your house-buying nightmare?
What should you do next if you’re thinking of hiring a buyer’s agent?
Book a free discovery meeting with a buyer’s agent
At You&Me Personalised Property Services, we offer a free 45-minute discovery meeting to help you win with property. We are licensed and we specialise in Buyer’s Agent services for:
- Buyer’s agent services for Military property investors
- Buyer’s agent services for Fifo property investors
- Buyer’s agent services Interstate property investors
- Buyer’s agent services for International property investors
- Buyer’s agent services for Expat property investors
- Buyer’s agent services for Perth property investors
Are buyer’s agents worth it?
The real estate market is moving in Australia, and Perth is leading the way with both capital growth and rental returns. Perth is currently an investors’ heaven!
One of the most common questions we, as buyer’s agents are being asked is “why use a buyer’s agent? Are buyer’s agents worth it?“.
Here are our top 5 reasons for using a buyer’s agent:
1. Buyer’s agents are experienced buyers
- 99% of our time is spent on property
- We visit properties during the week and weekend
- We know and keep up to date with current market trends
- Handle everything from start to finish
2. Buyer’s agents are expert negotiators
- Negotiating is a big part of the buying process
- Buyer’s agents know how to handle every aspect of negotiation
- Buyer’s agents have experience dealing with selling agents
- The buyer’s agent knows when to go hard and when to pull back
3. Buyer’s advocates don’t get emotional
- A buyer’s agent will take a step back and look at the property from a logical perspective
- Buyer’s agents assess whether a property is right for the buyer’s needs and keep perspective
- If you’re looking for a forever home, a buyer’s agent will make sure you walk away with a property you love without paying over and above
4. Buyer’s agents sidestep the stress
- Forget about competing with hundreds of buyers at every open home
- The buyer’s agent will do the research for you
- Sift through all the properties ensuring you are only presented with a few properties that match your criteria
- A buyer’s agent will handle every step of the purchase all the way through to settlement
5. Buyer’s agents save you money
- Buyer’s agents are able to identify which properties are worth their price tag and which ones may be over-priced or are likely to sell for more than their guide
- They can also determine if a property will likely cost you more in renovation and repair fees post-sale
Buy or Invest in property with a buyer’s agent
Simon Deering explains why buyer’s agents could be your perfect solution
Case study: how we helped clients make money
Our client needed a property investment strategy
The strategy was a “retain and build” strategy. What is “retain and build”?
It’s when you:
- Secure a block
- Keep the existing home
- Subdivide the land
- Build on the vacant land
- Sell the subdivided vacant land
The “retain and build” property strategy is a very popular strategy. But, in a booming market, competing against a high volume of buyers can be daunting.
Often, buyers are left in a bidding war.
What was the client’s budget?
The client had a budget of $450,000.
How did we help our client?
We have built a comprehensive network built up over the last 35 years, between the two co-founders. We then were able to contact leading agents and secured the block for the client for $376,000. The property was off-market: the client had no competition!
The owner was happy with the offered price, so was the buyer.
$40,000 worth of equity, instantly!
The property was actually valued at $416,000. Instantly, on that purchase, the client had $40,000 worth of equity.
The client’s fees
The buyer paid $11,875.
Settlement agent cost
The settlement agent cost was $700.
The buyer paid $40,000 for the property renovation. This was basically like building the buyer a brand new home! When keeping the existing property, as long as the bonds of the property are good, there is a number of things that we can do for the client, as buyer’s agents.
We were able to help renovate the property with:
- Brand new floorboards
- Rip out walls to increase the living size and increase the open space
- Brand new kitchen
- Brand new bathroom
- Brand new toilets
- Brand new plastering
Our buyer’s agent fee
Our fee was $10,000.
Project management fee
The project management fee was $4,000.
The subdivision cost $40,000.
Price of the property after renovation
The property was worth $450,000.
The rear 350 sqm block was sold at $180,000.
The renovated home
The renovated property was valued at $430,000.
Which gave a total value of $610,000, from a purchase of $376,000!
The rent return is $450 per week. $23,400 per year.
Massive positive cash flow rent return of 7.75% (rental yield).
Total profit for our client
The total profit for our client, in 12 months, was $128,000.
Huge profit for our client, less risk, little investment.
Contact Us below and we will help you:
- Find you a property
- Negotiate the best price
- Handle every aspect of the purchase
- We will even help you find a great mortgage broker as well as a friendly and efficient solicitor.
Where we are located:
You&Me Personalised Property Services
Level 2/110 William St, Perth WA 6000
(08) 6500 0655