Here are the top 5 benefits of using a buyers agent.

1. Buyers agents or buyers advocates are licensed professionals specialised in searching, evaluating and negotiating the purchase of a property on behalf of the buyers. Some are exclusive and only represent home buyers and property investors purchasing residential and commercial real estate. So, what are the benefits of using a buyers’ agent? What do they do? Is employing a buyers’ agent in your best interest?
2. You can delegate certain time-consuming tasks to your buyers’ agent, such as searching the internet, calling agents, arranging inspections as well as viewing a property. Doing this research solo can take months, which is exhausting and can make it difficult to maintain momentum. A general rule of thumb is that it typically takes 6 to 12 months to get to know the local real estate markets, find suitable properties and eventually buy one. By this time, it is possible a risky market may have seen price increases over 10-20% per year or even more. However, with a qualified buyers’ agent on your side, finding your perfect property in Sydney, Melbourne, and Brisbane can take as little as 30 days because they know the market.
3. The knowledge a buyers’ advocate has can save you money. As they are buying properties on a daily basis they are very good at negotiating. They don’t have a vested interest in the property so that they can negotiate objectively on your behalf. They also know the local real estate market values intimately, so they can provide you with the confidence that you are paying the right price.  This is because the agent knows their service areas well and can give accurate and up-to-date information about market value and potential for growth in every suburb and every street. You can locate a Gold Coast property buyer's agent here.
4. Your buyers’ advocate can protect you from making an emotional purchase in an area that looks really good as opposed to a more promising purchase in a suburb a few streets away. Having a buyers’ advocate on your side means you get the truth about the market, the property and what needs to be done to buy it successfully. This is where accurate appraisals of the true market value of a property comes into play. The agent will also be able to access the latest market data and predictions using a proprietary software Suburb Selector.
5. Employing a buyers’ agent helps you avoid the stress of auctions and making emotional decisions that mean you pay more than the property is worth. The agents have strategies in place to ensure you secure the right property at the right price. In addition, using an experienced and licensed buyers’ agent means you never have to deal with real estate agents. The buyers’ advocate can also get access to new listings that haven’t yet hit the market. These off-market opportunities are common in the prestige real estate market with a large percentage sold in this manner. Privacy and discretion are the main reasons for vendors choosing a silent listing sales method. Buyers’ agents are typically the first to be notified of these opportunities.

A reputable buyers agent should do these five things when delivering their services.

1. Find out your needs, desires, goals, and wants. This will help you formulate a Buyers Brief that gives a clear picture of your requirements and the strategy to be deployed. For example, if you want a large family home on the Gold Coast that is close to good schools, your buyers’ advocate will only look in areas that have suitable properties in acceptable locations.
2. Save time on research as the buyers’ agent has wealth of information on the suburbs in their area. This targeted information can provide suburb profiles and information about recent sales that match the buyers’ brief.
3. Compile a shortlist after searching for properties that meet the key criteria. The advocate would then arrange a suitable time for property inspection.
4. Give an evaluation. Once the property is agreed upon, the buyers agent will complete an appraisal of the property and give an indication of the current market value. Whether your purchase is a family home or an investment property, you want to make a decision informed by sound knowledge of the local market
5. The last step is to negotiate and secure the property. This is where property buyers’ agents show their expertise. By negotiating well, a buyers’ agent can save you a lot of money as they aim to negotiate the best price and terms to secure the property. They will help coordinate the required pest and building inspections and help facilitate the exchange of contracts. This takes a lot of stress out of the purchase process and ultimately out of making a life changing decision. What is a once in a life time negotiation for you is a weekly or daily event for a buyer’s agent.

According to Local Property Team’s CEO Brennan Hill “as buyers are finding it hard at the moment, I’m sure they would be prepared to invest in an agent to support them”.  This is because buyers’ agents use research and statistics to help you focus on the best areas for long-term capital growth. This optimises your investment decision-making. It also removes the uncertainty and the guesswork that comes with real estate for investment purposes, and gives you the opportunity to maximise your returns. 

The key difference between a buyers agent or advocate and a selling agent is who they represent.

A buyers advocate works for the buyer and the selling agent works for the vendor (the seller). They are paid either a fixed fee or a percentage of the purchase price. A sellers’ agent can’t, by law, act for both parties in the property transaction. They aren’t independent and have an inherent bias in recommending their own local stock of listings.  In contrast, exclusive property buyers advocates will search all of the suitable areas in a particular real estate market and not have a vested interest in any specific property or selling agent.