By Rich Harvey, CEO & Founder, propertybuyer.com.au
Most people excel at something. Some have an artistic bent, while others have practical skills. Then there are those with extraordinary mental capacity, or a keen strategic sense.
In many instances, these innate talents and learned skills combine and help guide us, one way or another, toward our favourite pastimes and /or professional careers. If you’re particularly talented at a pursuit, you can earn a healthy living from your aptitudes.
As the film quote goes, “If you’re good at something, why do it for free?”
I speak particularly to those professionals at the upper echelon of their chosen fields. Lawyers, doctors, accountants, sports stars… you name it. If you’ve devoted your life to being the very best at what you do, you’ll build a professional profile that sees others paying handsomely to utilise your services.
Which is why it confounds me that so many still choose to source and buy their own property – especially in today’s hot property market – when they can ‘smartsource’ themselves into an extraordinary outcome.
Why outsourcing is ‘smartsourcing’
There are several reasons why professionals in other fields should outsource their property hunt to qualified specialists like us.
First up is expertise. When it comes to buying property, the process looks relatively simple on the face of it. You troll through the selling portals, shortlist your inspections, choose the home you want, negotiate the deal, settle and move in… simple!
Well, that description really understates the complexities of the procedure. So, yes, the average person can buy a property. But then again, the average person can do their own tax return, manage their own business planning and even defend themselves in court if they wish. It’s just that compared to an experienced, qualified professional, they’re far less likely to bring about the best possible outcome.
When you employ an expert in property acquisition to do the job on your behalf, you are engaging someone who is does the job day-in, day-out. For example, they look beyond the usual listing portals and draw on their networks to find the best possible options.
They also have a process for understanding your wants and needs as a buyer, so they can select the perfect property. They can even find solutions when your budget and requirements seem worlds apart.
Buyers’ agents manage the whole procedure from start to finish on your behalf as well. Not only will they find the property, but they’ll also assess the opportunity through a thorough due diligence, and then apply their experience in negotiating a price or bidding at auction.
And it doesn’t stop there. Once the contract is signed, buyers’ agents manage the process from contact with the agent, mortgage broker and solicitor as needed, through to final inspection and handover.
All these elements involve skills acquired over years.
Secondly, the time vs. cost equation just doesn’t compute when high-income earners search for their own property instead of using a professional.
The fields of law, medicine, consulting and accountancy are filled with very smart, highly motivated people. Plenty of alpha personalities who are ‘can do’, driven types. A lot of these people are keen to be hands on and manage their own affairs when it comes to property buying. I understand this mindset, but it doesn’t make sense in terms of smart business.
Lawyers, accountants, doctors and consultants can bill hundreds of dollars per hour for their skills. By doing what they do best, they generate an income that lets them and their family thrive.
Now tell me, what would all the time devoted to finding a property be worth to you in real dollars? Wouldn’t it be a savvier move to employ a buyers’ agent so you can redeploy those hours and hours of time hunting property toward more profitable or pleasurable pursuits?
So, why waste your valuable time looking through real estate listings and visiting open homes when you can pay someone else to do the heavy lifting? You’re better off earning an income doing what you do best or, better yet, enjoying downtime with the family to recharge your batteries.
When you truly analyse the benefits, buyers’ agents simply make good sense.
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