It has always been a debate among owner-occupiers and property investors about whether to use a buyer’s agent when buying a home or investment property. Indeed, several myths are flying around about it.
Generally, home buyers prefer buying properties independently without involving buyer’s agents. Mostly, they want to avoid paying the seemingly high buyer’s agent fee. Or, they think the buyer’s agent will only make the property purchase process longer. So, they consider not using a buyer’s agent as a good way to save time and money.
Does that sound brilliant? Definitely, however, we need to look at it from the other perspective. Buyer’s agents offer several opportunities for a prospective buyer. First, since they are licensed real estate agents, they can use their local knowledge of the current market to help home buyers find the right property in the competitive housing market.
The Sydney real estate market is always competitive. Truthfully, homebuyers might leverage the expertise of buyer’s agents to win at auction bidding. More so, a good buyer’s agent knows how to help a buyer find suitable properties at the lowest sale price possible. However, it doesn’t end there; buyer’s agents can also help home buyers to set the right purchase price.
Is It Necessary to buy Properties Using a Buyer’s Agent?
Well, it is necessary but not compulsory. Though, buyers’ agents are called buyers’ advocates for good reasons. They are good at representing property buyers in the face of other licensed professionals and selling agents.
No one can undermine the crucial roles buyer’s agents play7 in the entire buying process. But you can always find an ideal property at the right price without paying the considerable buyer’s agent fee.
Are you about to purchase a huge property without going through a buyer’s agent? Then, you are on a good course. Here are five reasons to buy and find the perfect property without a buyer’s agent.
5 Reasons You Don’t Need A Buyer’s Agent To Buy A Property
1. You can find your dream home by searching online
You don’t need a buyer’s agent to find the right property. You can go online to find both on and off-market listings that suit your ultimate needs. As a matter of fact, the current market is situated online. Even buyer’s agent source information concerning the latest updates about ‘property for sale’ online.
More so, not all sellers prefer hiring real estate agents or selling agents to sell their properties. They prefer selling directly to interested property buyers with simple negotiations. Home buyers don’t need to negotiate seriously with a selling agent or real estate agent because online listings usually come with a purchase price tag. So, you have the time and space to search the local market for your preferred property easily.
2. Negotiating is simple if you are good at haggling
Tens of thousands of property buyers find it difficult to negotiate the right purchase price when dealing with sellers. Additionally, the purchasing process can get more complicated because buyers’ agents will have to make sure the selling agent is not taking any advantage.
Without a doubt, an experienced buyer’s agent knows how to negotiate with sales agents, But you don’t have to go through that long process. Truthfully, you can negotiate like a licensed buyer’s agent if you understand the current market value.
Negotiation is even easier if you are buying off-market properties. All you have to do is check up on one particular property online that matches your needs and target purchase price.
3. You can handle any real estate issues that come up in the buying process
People always have a phobia of buying unsuitable properties without a buyer’s agent when purchasing real estate properties. However, that is nothing but a myth in mind.
Of course, people may ask how you would cope if challenges arise during the purchasing process since you don’t have a buyer’s advocate working on your behalf. But that’s no big deal.
Even if you plan to put your money into investment properties, you can make a profitable investment without using a buyer’s advocate. You can learn solid investment strategies from other real estate professionals and not necessarily a buyer’s agent.
Practically, people learn how to handle residential or commercial real estate properties from experts online. However, several materials can teach you how to handle every issue concerning real estate purchases.
4. It’s cheaper to buy without using buyers’ agents
A licensed real estate agent will charge you for the professional services rendered. Demanding property buyers’ agents may claim they don’t charge much. You will know how much it costs when the deal is done.
A buyers’ agency or agent usually charges in two different ways. They charge you based on a percentage of the purchase price or state a fixed fee. You must pay dearly whether your prospective agent wants to charge a fixed or flat fee.
Whereas buying properties without a buyer’s agent will save you from the troubles of the agent’s commission.
5. You can handle all the paperwork without a buyer’s agent
Buyer’s agents don’t do all the work themselves. They can handle the buying process from start to finish because they have built strong business relationships with other real estate professionals.
But you can also approach real estate professionals at any time if there’s a need for it. You can get the correct information on handling all the paperwork from a competent real estate attorney. Meanwhile, it may require that you learn some multitasking skills as the aspect is very tedious.
Conclusion
The Sydney property market allows buyers to purchase a suitable property with or without a buyer’s agent. However, you can work with a buyers’ agent to save time and leverage the expertise of real estate professionals. Meanwhile, any home buyer can decide to do the legwork personally and successfully.