5 ways a buyer agent speeds up your property purchase
September 11, 2014 / Written by Rich Harvey
Are you in a position where you want to make a new property investment? Have the capital stored away, a steady stream of income and want the best result but can't find the time to research properly? Many people find themselves in this position, where the career/family balance simply doesn't leave enough time in the day for you to focus on purchasing a new property. This is where a buyers agent can step in, and provide you with the trustworthy research you need. Here are a few of the ways buyers agents will help you get ahead.
Knowing what's out there
Buyers agents already have a keen knowledge of the market. They can sniff out the best properties in the best suburbs, tailored to your needs. Need a home with a backyard, but within 5 kilometres of the CBD? No matter what your specifications, they'll find something for you. Buyers agents can even access properties that aren't on the market, providing even more options.
Identifying capital growth
Through their knowledge of the market, buyer agents can identify areas that are likely to see value growth in the coming years, which is invaluable if you wish to invest but don't have time to research for the most profitable areas. For instance, you may know some capital markets are performing well, but do you know just how strongly? According to research from RP Data, Sydney and Melbourne have experienced growth of 50.1 per cent and 46.1 per cent respectively since 2009. A buyers agent knows these things so you don't have to spend time digging through pages of data and identifying potential trends.
Bringing the properties to you
No more wasting your weekends driving from open home to open home. Tell a buyer agent exactly what you need and what you want in a property and they will research thoroughly, bringing you a shortlist of homes to choose from. Without a seller's interest on the table, a buyer agent suggests only properties that work for you, maximising efficiency. They will inspect the properties first and check it fits your requirements and sort the good from the bad.
House hunting doesn't just take time - it is an expensive affair and can be pricier if you don't do your research and wind up overpaying for a property. Get an agent to look into sales figures for the suburb around your potential new investment property, as well as similar homes in other areas. It's easy to read reports about median prices (which can be misleading) and but it takes skill and a keen eye to spot real value.
Buyer agents will negotiate prices on your behalf, be it at private treaty or in the action-packed auction rooms. With years of experience in getting their clients the best price, you can rest assured that you will be getting a good deal when they head to the negotiating table.
For the Australian who is on-the-go but keen to invest in property across Sydney or wider Australia, a buyer agent is the way to go. You'll have more time to spend on your family, work or personal affairs, with the knowledge that when it comes to your investments, someone else is doing the heavy lifting.